High-performance Polymers Market size is forecast to reach $14 billion by 2026, after growing at a CAGR of 9% during the forecast period from 2021-2026. The rising need for lightweight vehicles and electric vehicles is one of the major factors fueling the demand for the high-performance polymers market. Further, the growing demand for advanced polymers like fluoropolymers due to versatile properties in various end-use industries such as transportation and construction will boost the future demand too. Polyphenylene sulfide is a partially crystalline, high-temperature performance polymer. This polymer has a high melting point of approximately 280°C, excellent chemical resistance, and is inherently flame retardant. Apart from this, high-performance polyamides can make durable, functional components for automotive thermal management and other demanding applications. The COVID-19 pandemic has affected the whole supply chain of polymer manufacturing due to the complete or partial shutdown of companies. This also has an impact on the growth of the polymers business in the forecast period. Apart from this, lightweight vehicle production is expected to drop more than 20% due to COVID-19.
High-Performance Polymers Market Segment Analysis – By Type
Fluoropolymers segment held the largest share in the high-performance polymer market in 2020. Fluoropolymers are used to protect and insulate wires in order to prevent over heating which increasing demand from the electronic sector. Fluoropolymers are known as fluoroplastics, which contain both carbon and fluorine. Replacing hydrogen atoms with fluorine alters the properties of the material, giving it greatly desirable characteristics for a variety of applications and industries. Fluoroplastics resistance to high temperatures, oil residue and brine similarly consolidate their standing as a superior material for the off-shore environment. Thus, increasing demand of other high performance polymers such as polyamide and polyphenylene sulfide from automotive sector, electronic sector, power generation and so on is expected to boost the market growth.
High-Performance Polymers Market Segment Analysis – By Crystallinity
Crystalline segment held the largest share in the high performance polymer market in 2020 because of its high strength, low weight and abrasion resistance properties. Polyamide 6 has high crystalline density (1.24g/cm3) more than amorphous density (1.08g/cm3). However, moisture does affect this type of measurement. Liquid crystalline polymers are widely used in the optics and in electronic devices due to their anisotropic material properties such as light reflection, color characteristics, which are tunable by temperature and mechanical field. It is also applicable for data storage, display technology, telecommunication, and other optics and up to-electronic products. Companies are developing polyetheretherketone for aerospace and medical sector which is increasing the demand and supply because it is long lasting and varying loads at high temperature.
PEEK-LT1, PEEK-LT2, and PEEK-LT3 have already applied in different surgical fields such as spine surgery, orthopedic surgery, maxilla-facial surgery, and so on. Polyetheretherketone is used to reduce vehicle weights and upgrade fuel efficiency and ideal in the cut out of metals for noise reduction. Polyetheretherketone is recognized for outstanding process capability and workability because it has been replaced parts of engine which are traditionally made by metals and using conventional molding equipment.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=18513
Report Price: $ 4500 (Single User License)
High-Performance Polymers Market Segment Analysis – By Production Technology
Polycondensation process constitutes a major share in high-performance polymers market in 2020, because polycondensation process can be used for producing polymer by linking single or multiple kinds of monomers to form long chains releasing water or simple substance. Researchers developed a mechanism based on polycondensation using butyl-tin di-laurate catalyst and a healing agent composed of hydroxyl end-functionalized poly (dimethylsiloxane) and poly (diethoxysiloxane). Electrophilic synthesis process has a drawback of a low selectivity to linear polymers and is using aggressive reactants; the product could hold only a short time on the market. For this reason, the majority of the high-performance polymer is nowadays produced by the polycondensation process.
High-Performance Polymers Market Segment Analysis – By Processing Method
Extrusion process held the largest segment by processing method in high performance polymers market in 2020. During this process, polymers are melted and formed into products of different shapes and sizes such as plastic bags, sheets, and pipes by forcing polymeric components. Extrusion process is usually the most convenient, economical, and environmentally favorable for film and sheet manufacturing. Extrusion technology is one of the most important fabrication processes in the plastic industries. Extruded polymers range from pipes to hoses through to the insulated wires, cables, and polystyrene tiles.
High-Performance Polymers Market Segment Analysis – By Application
Automotive sector is the primary application market for high-performance polymers from many years and is growing at a CAGR of 7% during this forecast period. Automotive trends such as the light weighting of vehicles increases use of polymers. Like fluoropolymers are widely used in automotive due to low friction properties as well as their superior heat. This segment contributes reducing the overall carbon emission of the vehicle. According to China Association of Automotive Manufacturer, in 2018 automotive lightweight materials sales were in excess of 17 kilotons in China and are estimated to a record year of year grow at over 4.0 % in 2019. Automotive manufacturer improves durability, reducing vibration and noise for driving comfortable. Use of noise, vibration, harshness (NVH) reduction materials in automobile helps to reduce noise and improve ride quality. Polyphenylene sulfide has high impact properties like use to reduction of volatiles, thus polyphenylene sulfide used in automotive industry. The growing focus of car manufacturers on acoustic management and noise control in passenger and commercial vehicles help enhance the fuel economy, reduce cabin sounds, and improve durability. A 10% reduction in vehicle weight can result in a 6%-8% fuel economy improvement.
High-Performance Polymers Market Segment Analysis – By End-Use Industry
Medical & Health care industry segment dominated the high-performance polymers market because of high performance polymers are used as original equipment manufacturers (OEMs) for robust product designs aimed at reducing the occurrence of Healthcare-Associated Infections (HAIs). OEMs offers to reuseable surgical instruments with single-use sets. Single-use instruments can help reduce the frequency of HAIs. High-performance polymers are increasingly used to replace metal in both single-use and reusable medical applications, such as syringes, and surgical instruments. Polyamides are used in biology and medicine to provide a protective coating of the dishwasher racks, which has become more and more important. High performance polymers are used in devices and equipment such as spinal implants, hip & joint replacements, and implants for cranial injuries. These are used in medical packaging too, which increases the demand for high-performance polymers.
High-Performance Polymers Market Segment Analysis – By Geography
North America is dominating the global high-performance polymer regional market with 47% in the upcoming years due to the steady presence of several industry leaders and the consistent demand for technological upgrades. Automotive and consumer electronics industries in this region are also dominant in the respective global markets, which is a key factor enabling steady growth of the high-performance plastics market. North America market is mainly driven by the growing opportunities from the transportation industry. North America is also expected to high growth rate with the United States which has developed automotive manufacturers an aerospace stalwart.
High-Performance Polymers Market Drivers
Increasing Demand from Automotive Industry for more Lightweight Productivity
Lightweight vehicles consume less fuel in a vehicle because less weight consumes less energy at the time of acceleration. A 10% reduction of vehicle mass can improve fuel economy by 6% to 8%. The engine can stand with the use of advanced materials which helps to increase efficiency. The lightweight of vehicles plays an important role between fuel consumption and vehicle weight. PEEK (Polythene ether ketone) is used in the automotive and aerospace industries for manufacturing various components. Noteworthy properties of PEEK are high resistance, lightweight, high dimensional stability, and high chemical resistance. And in view of preventing fire, it is important to use materials that are fire retardant, less smoke & toxic gases in case of fire. These are available at minimum cost and time and their numerous advantages such as energy efficiency, improved performance, and enhanced safety.
High-Performance Polymer Market Challenges
Volatile Raw Material Prices
The raw materials used to produce atheistic polyethylene terephthalate are derived from oil feedstocks and account for nearly 60.0% of the total cost of the final product. The fluctuations in the prices of crude oil directly affect the retail prices and operating margins of manufacturers.
High-Performance Polymers Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the high-performance polymers market. Major players in the High performance polymers Market Solvay Corporation, DuPont Corporation, SABIC, Celanese Corporation, Daikin industry, Arkema, Kuraray, Unitika, Sumitomo Chemical, DIC, Evonik, and among others.
In February 2019, Arsonist SA came into partnership with Solvay to create SLS 3D printing process for high-performance polymers enabled the efficient production. It has helped in the reduction of operating cost and reduces excessive wastage, as well as this technology, has made 3D printing of high-performance polymers more affordable.
In February 2019, AGC launched FEP high-performance fluoropolymer under its brand, AFLAS. This polymer is used majorly in automotive underhood component systems and can withstand an operating temperature of 392oF.
North America dominates the high-performance polymer market due to the presence of polymers (like fluoropolymers and polyphenylene sulfide) in major end-use industries such as automotive, aerospace, and construction.
Increasingthe demand for lightweight vehicles, which are most cost-effective without reducing quality. The adoption of emerging light-weight vehicles in developed countries will boost the growth of high-performance polymers market.
The demand of high-performance polymers market is rising because of its lightweight, temperature stability, stiffness, reducing vibration and low maintenance requirements.
Related Reports :
A. United States High Performance Polymers Market
B. High Performance Alloys Market
For more Chemicals and Materials Market reports, Please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to firstname.lastname@example.org to discuss more about our consulting services.
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677