A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global High
Performance Plastics
Market. The
study, titled “High
Performance Plastics Market - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2016 - 2024”,
is available for sale on the firm’s website.
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.
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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.
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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.
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