High Performance Plastics Market Size, Opportunities, Share, Key Development Analysis, Top Suppliers, Growth, Regional Trends, Key Segments, Graph and Forecast
High-performance plastics are advanced materials known for their exceptional mechanical, thermal, chemical, and electrical properties, surpassing those of conventional plastics. These plastics are engineered to withstand extreme conditions and demanding applications where standard materials would fail. High-performance plastics exhibit characteristics such as high strength-to-weight ratio, excellent temperature resistance, low friction, superior chemical resistance, and electrical insulation properties.
The report "High Performance Plastics Market by Type (Fluoropolymers, High-Performance Polyamide, PPS, SP, LCP, AKP, and PI), End-Use Industry (Transportation, Electrical and Electronics, Medical, Industrial), And Region - Global Forecast to 2026", The market size of high performance plastics is estimated to grow from USD 14.49 Billion in 2016 to USD 35.27 Billion by 2026, at a CAGR of 9.3% from 2016 to 2026. The market is driven by the increased usage of high-performance plastic materials instead of conventional materials in high-temperature applications.
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Asia-Pacific: The largest market for high-performance plastics
Asia-Pacific is currently the largest market for high performance plastics due to increasing demand from emerging countries such as India and China. China is the largest market for high performance plastics in the Asia-Pacific region.
Forces driving the market for high-performance plastics in Asia-Pacific are:
Presence of major manufacturers of high-performance plastics in the region
Growing end-use industries, such as transportation, electrical & electronics, and medical, in major countries such as China, India, and Japan.
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Transportation: The largest end-use industry of the high performance plastics market
High performance plastics are used in various end-use industries such as electrical & electronics, medical, transportation, industrial, and others. These are the main end-use industries considered in the report. The transportation segment is estimated to account for the largest share, in terms of value as well as volume, followed by electrical & electronics, in 2016. The medical industry is estimated to grow at the highest CAGR from 2016 to 2026, in terms of value, among all the industries considered.
Fluoropolymers: The largest type segment of the high performance plastics market
The fluoropolymers types is estimated to account for the largest market share, in terms of value as well as volume, followed by high-performance polyamide in 2016. The aromatic ketone polymers segment is estimated to grow at the highest CAGR from 2016 to 2026, in terms of value.
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The key players in the high performance plastics market are BASF SE (Germany), Daikin Industries, Ltd. (Japan), Celanese Corporation (U.S.), Solvay S.A. (Belgium), Arkema SA (France), Evonik Industries AG (Germany), Kuraray Co., Ltd. (Japan), E. I. duPont de Nemours and Company (U.S.), SABIC (Saudi Arabia) , Victrex Plc (U.K.), and others.