High Performance Plastics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
- Transparency Market Research
Global High Performance Plastics Market: Overview
High performing plastics are specially designed polymers with high mechanical strength, chemical resistance, and, all-importantly, temperature resistance. Stability at high temperature is the main criterion used to differentiate high performance plastics from regular plastics, but the high mechanical strength of high performance plastics has made them a key component of the global manufacturing sector in recent years. The current high performance plastics sector is the result of the constant effort in the plastics industry towards betterment of their mechanical properties and resistance to temperature and chemical stimuli.
The global high performance plastics market has a large number of end-use segments, as the need for strong manufacturing materials is being felt in several sectors. The automotive industry and the consumer goods industry are two of the leading application segments of the high performance plastics market. Other key applications of high performance plastics lie in construction, medical devices, and electronics and electrical materials. Fluoropolymers are the dominant plastic in the global high performance plastics market and are likely to retain a dominant share in the coming years.
Global High Performance Plastics Market: Drivers and Restraints
The steady demand from the automotive sector has been a key driver for the global high performance plastics market. The automotive sector is always on the lookout for high-strength lightweight materials due to the several benefits they provide with regard to automotive design. This has led several automotive giants to high performance plastics, which are close to the ideal configuration available to car manufacturers in the current technological scenario. The booming automotive industry is thus likely to remain a key driver for the global high performance plastics market in the coming years, as the widening perimeter of the industry will enable steady research into car construction materials and the role of high performance plastics in automotive design templates of the future.
The rapid growth of the global consumer electronics industry has also been a steady driver for the global high performance plastics market. Like the automotive industry, the consumer electronics industry has benefited in recent years from the rise in the disposable income of urban consumers and the increasing prominence of the smartphone in their daily lives. The use of high performance plastics in smartphones and other consumer electronics has risen due to the steady preference for tougher materials resistant to a wider range of stimuli. Despite the dominance of annually updated smartphone ranges, many users place high importance to the build quality of the device, which is likely to aid the growth of the high performance plastics market in the coming years.
Global High Performance Plastics Market: Geographical and Competitive Dynamics
North America and Europe are likely to dominate the global high performance plastics market in the coming years due to the steady presence of several industry leaders and the consistent demand for technological upgrades. The automotive and consumer electronics industries in these regions are also dominant in the respective global markets, which is a key factor enabling steady growth of the high performance plastics market in the coming years.
However, Asia Pacific is likely to become a dominant regional market for high performance plastics in the coming years. The steady growth of the consumer electronics industry in Asia Pacific countries such as China, South Korea, and India is the key factor responsible for the high performance plastics market’s growth in the region. The automotive industry in India, South Korea, Japan, and particularly China is also likely to exhibit sustained growth over the coming years, propelling the high performance plastics market in the region.
Key players operating in the global high performance plastics market include Sekisui Chemical Co., Ltd., Saint-Gobain Performance Plastics Corporation, Röchling-Group, Quadrant Group of Companies, Ensinger India Engineering Plastics Private Ltd., Grindwell Norton Ltd., Dover High Performance Plastics, A. Schulman Inc., Quantum Polymers, CoorsTek, Inc., BASF SE, Murtfeldt Kunststoffe GmbH & Co. KG, DuPont, and TriStar Plastics Corporation.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.
More from Chemicals
ChemicalsChinese Markets for Container Coatings
ChemicalsChinese Markets for Antioxidants
ChemicalsChinese Markets for Silicone Coatings
ChemicalsChinese Markets for Absorbents
Chemicals and MaterialsGlobal Market Study on Sodium Cyanide: Upswing in Mining Activities Boosting Sales Prospects