High Temperature Thermoplastics are produced by advanced compounding techniques which offers significant properties such as excellent flexibility, heat stability, and chemical resistance to the finished material. Moreover, they also provide versatility and reliability to the product.
The Global High Temperature Thermoplastics Market has been driven by the range of its application in various sectors such as transportation, electrical & electronics, industrial, medical, and others. Moreover, it is estimated that the medical segment is set to witness the highest growth in the market due to the growing consumption of heat resistant materials in the sector over the forecast period.
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Market Segmentation:
The Global High Temperature Thermoplastics Market is segregated into the resin type and application. On the basis of the resin type, the market is further categorized into fluoropolymers, high performance polyamides, polyphenylene sulfide, sulfone polymers, liquid crystal polymers, aromatic ketone polymers, and polyimide segments. The fluoropolymers segment is the most widely used resin type in the market due to its growing consumption in heavy end-use industries such as transportation, electrical & electronics, industrial, medical, and others. Moreover, durability and strength are the major factors behind the popularity of this segment. The increasing use of aromatic ketone polymers segment in designing pistons, pumps, valves, compressors, and others is estimated to drive the market during the assessment period.
On the basis of the Application, the market is segmented into transportation, electrical & electronics, industrial, medical, and others. The transportation sector is the leading segment in the market and is anticipated to observe a rapid growth due to an increased demand for low density materials in various applications. These materials are used to improve the performance, efficiency of the engines and systems. Moreover, excellent flexibility, mechanical properties, UV and chemical resistance are some of the properties offered by these thermoplastic elastomers in the industry. The medical segment is predicted to witness a higher growth in the industry due to growing consumption of advanced polymers in disposable devices as they offer enhanced resistance to solvents, radiation, and heat.
Competitive Analysis:
Some of the major players functioning in the Global High Temperature Thermoplastics Market are BASF SE (Germany), Celanese Corporation (U.S.), Solvay (Belgium.), Arkema (France), Evonik Industries AG (Germany), DowDuPont ( U.S.), SABIC (Saudi Arabia), Victrex plc (U.K), Royal DSM (the Netherlands), and TORAY INDUSTRIES, INC. (Japan) among others.
Segmental Analysis:
The Global High Temperature Thermoplastics Market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major portion of the global market and is anticipated to continue its dominance due to rising demand for high temperature materials in various applications. Countries such as China, Japan and India are the major players in this region. The North America region is estimated to witness a higher growth in the U.S., Canada and Mexico owing to increasing demand for lightweight materials in transportation, electrical & electronics, and others. The enactment of new rules and regulations set by the European Union has driven the manufacturers to use eco-friendly resin types in the end-use industries. Moreover, it is projected that the advancing research & development of thermoplastic materials in the market has propelled this region to witness a significant growth in Germany, the U.K and Italy.
The Middle East & Africa is estimated to observe a significant growth due to increasing consumption of low density materials in transportation, industrial, medical, and others. Additionally, the growing demand for corrosion and UV resistance materials is projected to boost the market in the Latin American region.
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