High Performance Plastic Market Size, Share, Development, Growth Till 2022 By P&S Market Research

The high-performance plastics market is driven by increasing application in a wide range of industries on account of their superior thermal conductivity and anti-corrosive properties. High performance plastics (HPPs) are gaining interests due to excellent performance when exposed to high temperature and being highly reactive chemicals. These plastics offer high heat stability, chemical resistance, and mechanical strength. Although, high performance plastics account for a small share of the global plastics market, the demand for these plastics is expected to grow at a significant rate during the forecast period (2016-2022).

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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. Additionally, the growing chemical industry is a key driver behind the growth of the global high performance plastics market. High performance plastics, owing to their light weight and durability, are being highly used in the automotive, aerospace, electronics, and electrical industries.

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. Though, the benefits of high-performance plastics are widely known, their relatively high processing costs continue to act as a restraint for the global market.

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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. The aromatic ketone polymers segment is estimated to grow at the highest CAGR, during the forecast period, in terms of value.

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. The medical industry is estimated to grow at the highest CAGR during the forecast period among other end-use industries.

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