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High Performance Plastic Market : Industry Trends and Growth Rate, Product & Application by 2023
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High-performance plastics are penetrating in the automotive and aviation industries for their high-temperature stability and metal-replacement potential. Such advantages enable the increased usage of interior applications, across automotive, aviation, rail and marine segments.
In the electronics and electrical industry, the growing demand for semiconductors, LED displays, and electronic gadgets, such as mobile phones and kitchen electronics, is expected to fuel the demand for high performance plastics rapidly. Additionally, HPPs possess physical properties such as high impact resistance, due to which they are largely employed in various medical devices, surgical instruments, and analytical equipment.
The major types of HPPs are fluoropolymers, high performance polyamides, polyphenylene sulfide, sulfone polymers, liquid crystal polymers, aromatic ketone polymers, and poly-imide. The fluoropolymers segment is expected to contribute highest revenue to the global market due to use of fluoropolymers in a number of application areas.
HPPs are used in various end-use industries such as transportation, medical, electronics, and industrial. In 2015, the transportation end-use industry was the largest contributor to the global market, in terms of value and volume, followed by electrical and electronics, industrial, and medical industries.
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Some of the key players in the global high performance plastic market include Sekisui Chemical Co., Ltd., Saint-Gobain Performance Plastics Corporation, Rochling-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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