(EnergyIndustry.Net, April 23, 2020 ) Market Overview • The Global High-Performance Plastics Market is expected to grow at a CAGR of 9.30% during the forecasting period (2019-2026). • High performing plastics are specially designed polymers with high mechanical strength, chemical resistance, and, all-importantly, temperature resistance.
Market Outlook • Increasing Performance requirements across various applications are accelerating the adoption of high-performance plastics in both automotive and aerospace industries. • The superior performance qualities and flexibility in integrating components are some of the prime factors of the market. • Further, the demand for these high-performance plastics is expected to grow at a significant rate owing to number production line unit of plastic. • Many companies in the world are expanding their product line in recent times which will boost the production of high-performance plastics. • For instance, in 2018, German chemicals company BASF SE has started up a new production line for its high-temperature-resistant thermoplastic Ultrason in Yeosu, Korea. • On the flip side, the high manufacturing cost of high-end plastics as one restraining factor for this market.
Segmentation Analysis • By end user, the global high-performance plastics market is bifurcated into transportation, automotive, aviation, medical, and others (electrical & electronics). Of these, the Aerospace industry dominates the market owing to lightweight compared with other industrial materials. • Leading aerospace companies like Bombardier, BAE Systems, Raytheon, GE Aviation, and Lockheed Martin have also leaned into using High-performance thermoplastics and composites in their aircraft and defense-related systems. • These companies are using lightweight plastics to keep passengers comfortable, protect vital electronics, and improve the reliability of the mission. • However, polymer composites have a relatively low electrical conductivity. As a result, an extra layer of the copper mesh must be added to the fuselage of the Boeing 787 to dissipate the electricity from lightning strikes. • Currently, there is a growing interest in the use of thermoplastic carbon-fiber composites, such as those based on PEEK, to increase manufacturing productivity and satisfy growing demands for an ever faster aircraft build rate. For instance, Victrex recently launched a joint-venture with Tri-Mack Plastics Manufacturing Corp. to accelerate the commercial adoption of polyaryletherketone (PAEK) composite applications in the aerospace industry.
Geographical Analysis • Geographically, the global high-performance plastics market business into North America, South America, Europe, Asia Pacific, and RoW. Of these, Asia-Pacific is identified as the fastest-growing region for high-performance plastics, regarding value and volume. • Among the key factors that are expected to fuel this growth are high economic growth rate, growing manufacturing industries, cheap labor, increasing foreign investments, and a rise in applications of high-performance plastic across medical, transportation, and electronic industries. • Countries such as China, South Korea, and Taiwan—the major hubs for the production of electronic components, are expected to drive this market’s growth.
Competitive Trends • The analysis of major companies in the high-performance plastics industry takes into account the strategy adopted, merger, financial revenues and the latest developments in the market. Some of the leading players in global high-performance plastics market covered include Dow Chemical, LANXESS, Royal DSM, Saint-Gobain, EYYonMobil, Solvay S.A., BASF SE, Celanese Corporation, Victrex Plc, Nylacast Limited Company, and Ensinger. For instance,
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