Travel & Tourism Industry release:
The global market for High Temperature Thermoplastics (HTTs) is estimated at USD 14.38 Billion in 2017 and is projected to reach USD 21.70 Billion by 2022, at a CAGR of 8.57% between 2017 and 2022
The market has witnessed significant growth in the recent years, and this growth is projected to persist in the coming years. HTTs, due to their characteristic properties such as high thermal stability, greater chemical resistance, high dielectric strength, low shrinkage, and greater design flexibility, are used in a wide range of end-use industries such as transportation, medical, electrical & electronics, industrial, and others.
Different types of HTTs are also included in the report. The main types are fluoropolymers, high performance polyamides, polyphenylene sulfide, sulfone polymers, liquid crystal polymers, aromatic ketone polymers, and poly-imide. The fluoropolymers segment accounted for the largest market share in 2016 due to their suitability in several application areas. The sulfone polymers segment is expected to be the fastest-growing type segment due to their increasing acceptance in various end-use industries such as electrical & electronics and industrial.
High temperature thermoplastics are used in various end-use industries such as transportation, medical, electrical & electronics, industrial, and others. These are the main end-use industries considered in the report. In 2016, the transportation end-use industry accounted for the largest market share, in terms of volume, followed by electrical & electronics, industrial, medical and others. The medical end-use industry segment is estimated to register the highest CAGR between 2017 and 2022 among all the end-use industries considered.
North America, Europe, Asia Pacific, Middle East & Africa, and South America are the main regions considered in the report. Asia Pacific is dominant in the HTTs market. The rising demand for HTTs in this region is mainly driven by their increased use in transportation, electrical & electronics, and medical industries. North America is the second-largest consumer and manufacturer of HTTs, globally. The market in this region is mainly driven by the growing opportunities from electrical & electronics and medical industries. Transportation and electrical & electronics are the top 2 end-use industries contributing to the growing demand for HTTs globally. The Middle East & Africa is the second fastest-growing region after Asia Pacific due to the growing electrical & electronics industry in the region.
Though the HTTs market is growing at a significant rate, few factors, such as the high price of raw materials, shift of end-use markets from the developed countries to developing countries, and rising cost of production may hinder the growth of the market, globally.
Companies such as Solvay (Belgium), BASF (Germany), Evonik Industries (Germany), DowDuPont (US), Celanese Corporation (US), and Arkema (Japan) are the leading players in the global HTTs market.
Other major manufacturers of HTTs are SABIC (Saudi Arabia), Toray (Japan), Royal DSM (Netherlands), and Victrex (UK).
- Increasing Demand from Transportation Industry
- High Cost of High Temperature Thermoplastics
- Competition from Alternative Materials
- Superior Properties of High Temperature Thermoplastics
- Collaborative Research With Component Manufacturers And End Users
- Akro Plastic
- Arkema S.A.
- Asahi Kasei
- Celanese Corporation
- Dic Corporation
- Drake Plastics
- Dyneon Fluoropolymers
- Evonik Industries
- GSF Plastics Corporation
- Hycomp Llc
- Lehmann & Voss & Co.
- Nytef Plastics
- Polyone Corporation
- Quadrant Plastics
- Royal Dsm
- RTP Company
- Sumitomo Chemicals
- Toray Industries Inc.
For more information about this report visit https://www.researchandmarkets.com/research/qwt2q5/high_temperature
Laura Wood, Senior Manager
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SOURCE Research and Markets
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