PUNE, India, November 6, 2017 /PRNewswire/ --
The report "High Temperature Thermoplastics Market by End-use Industry (Transportation, Electrical & Electronics, Industrial, Medical), Resin Type (High Temperature FPs, HPPA, PPS, SP, LCP, AKP, PI), Temperature Range, and Region - Global Forecast to 2022" published by MarketsandMarkets™, the market is estimated at USD 14.28 Billion in 2017 and is projected to reach USD 21.70 Billion by 2022, at a CAGR of 8.57% from 2017 to 2022. The market is driven by the replacement of conventional materials with high temperature thermoplastics in high dimensional stability and high temperature applications.
Browse 68 Market Data Tables and 47 Figures spread through 150 Pages and in-depth TOC on "High Temperature Thermoplastics Market"
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Transportation industry is at the forefront and is driving the high temperature thermoplastics market
High temperature thermoplastics are widely used in electrical & electronics, medical, transportation, industrial, and other end-use industries due to their superior properties such as recyclability and improved stability at high temperatures. The transportation end-use industry accounted for the largest market share, in terms of value as well as volume in 2016, followed by electrical & electronics, industrial, medical, and others. The transportation industry includes aerospace and automotive. In automotive industry, HTTs are used in drivetrain systems, fuel systems, cooling & heating systems, electrical & electronics systems, mechanical gears, air intake systems, and so on. The medical end-use industry segment is estimated to grow at the highest CAGR between 2017 and 2022, in terms of value, among all the industries considered.
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High temperature thermoplastics (range 302˚F-449.6˚F) segment accounts for a major market share in the high temperature thermoplastics market
High temperature thermoplastics can be classified into two types: high temperature thermoplastics (range 302˚F-449.6˚F) and extreme temperature thermoplastics (Range >449.6˚F), on the basis of their maximum continuous service temperature. The high temperature thermoplastics (range 302˚F-449.6˚F) segment accounts for the major share in the high temperature thermoplastics market. The extreme temperature thermoplastics (range >449.6˚F) segment is expected to grow at a higher CAGR of 8.95% in terms of value during the forecast period.
High Temperature Fluoropolymers resin-based high temperature thermoplastics segment comprises a major share in the high temperature thermoplastics market in terms of value
HTTs are of various types, including fluoropolymers, high performance polyamide, polyphenylene sulfide, liquid crystal polymers, aromatic ketone polymers, and polyimides. The fluoropolymers type segment accounted for the largest market share in 2016, in terms of value as well as volume, followed by the high performance polyamide segment. The aromatic ketone polymers segment is estimated to grow at the highest CAGR between 2017 and 2022, in terms of value, among all the types considered due to its outstanding thermal stability, mechanical properties, and chemical resistance.
Asia Pacific is the key region for high temperature thermoplastics market
The Asia Pacific region is expected to be the largest market for HTTs globally due to the increased demand from transportation, electrical & electronics, medical, and consumer goods industries. Increasing demand for high-quality medical and electronics products, rising population, and growth in end-use industries have led to innovation and developments in these industries, making it a strong industry hub. This growth can primarily be attributed to the growing investments in the healthcare industry. The market players are increasing their production capabilities in the region to meet the growing demand for HTTs.
Some of the key players in the High Temperature Thermoplastics Market are BASF (Germany), Celanese Corporation (US), Solvay (Belgium), Arkema (France), Evonik Industries (Germany), DowDuPont (US), SABIC (Saudi Arabia), Victrex (UK), Royal DSM (Netherlands), and Toray (Japan).
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