High Performance Polyester Market – Market Overview
Polyesters with added properties such as high durability, excellent tensile strength, excellent elasticity, high shock absorption, good corrosion resistant, high moisture resistance, and high chemical inertness are known as High Performance Polyester. High Performance Polyester is widely preferred over metals and glass due to its wide applications in different end-use industries such as packaging, building & construction, electrical & electronics, automotive and others. High Performance Polyester finds applications as strap, tape, insulation, gelcoat, films and others.
Amongst the Application Segment, films accounted to hold the largest market share of the Global High Performance Polyester in 2017 owing to strong demand from different end-use industries such as pharmaceuticals, cosmetics, and packaging. Insulation and gelcoat application segments also expected to witness high demand from building & construction and automotive industry respectively over the forecast period. Packaging industry held the major market share over other end-use industries in 2017 owing to its eco-friendly and recyclable nature and strong demand and expected to continue growth over the forecast period.
Asia Pacific is estimated to be the largest market for High Performance Polyester followed by Europe and North America on account of increasing demand in end-use industries such as packaging, building & construction, electrical & electronics, automotive and others. Low labour cost, high economic growth rate, and competitive manufacturing costs are the factors contributing to the growth of High Performance Polyester Market in Asia Pacific. Europe is expected to witness a moderate growth over the forecast period and the growth is attributed to mainly come from the packaging industry for recyclable polyester products. North America is expected to witness a significant demand of high performance polyester during the forecast period from the electrical & electronics and growing usage of straps and tapes in packaging industry. Latin American countries such as Colombia, Chile, and Brazil are also projected to witness steady growth with the expansion of packaging and automotive industries in these countries. The Middle East & Africa is likely to witness notable demand of High Performance Polyester from the growing construction industry on account of the ongoing infrastructural projects to flourish tourism industry.
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High performance polyester Market – Competitive Analysis
The global market of High Performance Polyester is a lucrative market is expected to expand at an encouraging CAGR during the forecast years. The major strategies adopted by key players are expansion, collaborations or partnerships and product launch. In order to meet regulations, set by various bodies of respective regions, manufacturer is entering into agreement with raw material supplier to maintain profit across the value chain. In highly competitive market, companies are investing more in innovations and brand building thereby, fostering the strong relationship with customer. On other hand, major players are carrying out research & development activities to improve the properties of High Performance Polyester.
Industry/ Innovation/ Related News:
December 2017- BASF SE and Sinopec have signed a 50-50 joint venture to expand polyester intermediates (Neopentylglycol) production in Verbund site. The expansion is aimed to double the production capacity of Neopentylglycol (NPG) to 80,000 tonnes per annum by 2020 and be in line with the trend towards environmentally friendly products. NPG is a building block in polyester resins for coatings, unsaturated polyester and alkyd resins, lubricants and plasticizers. It is a polyalcohol offering high performance in many end-use applications such as powder coatings, textiles and construction due to its high chemical and thermal stability.
October 2012 – Solvay Specialty Polymers USA, LLC, has expanded the High Performance Polyester line by launching a new high-performance polyester compound under the Lavanta® tradename that delivers higher heat resistance, greater light stability and longer life than competitive materials for light-emitting diode (LED) televisions. Lavanta® is a 15% glass fiber-reinforced injection molding compound that utilize surface mount technology, which shows high reflectivity (greater than 95%) with excellent whiteness retention even after thermal and light aging. This gives it excellent reliability for LEDs that operate at high junction temperatures.
August 2013 – The Teijin Group announced that its high-performance polyester under the tradename NANOFRONT have been selected for use in high-quality comforters and pillows for First and Business Classes in All Nippon Airways (ANA). Teijin’s NANOFRONT high-strength polyester nanofiber measures just 700 nm in thickness and shows excellent heat-insulating and heat-retaining properties.
May 2017- Jindal Films Americas (JFA) has announced to expand its high-performance films business by including the polyester films segment for flexible packaging and labeling. The new polyester unit will be located at the Americas headquarters in LaGrange, GA and is expected to start operation from early 2019. The polyester unit is projected to have capacity of 65,000 MT of film and the project is estimated to have investment of $120 million USD. The unit would be composed of two lines consisting both thin specialty and thick specialty films. Jindal Films Europe is also considering a similar expansion in its region. The Europe polyester film project is expected to be completed by first quarter of 2018, doubling the current capacity of the Americas division of Jindal Films.
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