Global High Performance Polymers Market is expected to grow with a CAGR of 8.7% over the forecast period.
Global High-Performance Polymers Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Rising demand of electric vehicles, growing healthcare industry and increasing demand from consumer electronics are some of the major factors driving the growth of Global High-Performance Polymers Market.
High-performance polymers are synthetic substances which don’t lose on their mechanical, thermal, chemical properties even when they are subjected to harsh environments with high temperature, high pressure and harmful chemicals. High-performance polymers have excellent properties. Some of the most vital properties of high-performance polymers are excellent fire resistance, suitable chemical resistance, higher thermal resistance, wear resistance, increased modulus and strength, and very low density. Due to the ability to withstand harsh environments high performance polymers can be used in critical industries and other industries like aerospace, textile, biomedicines, automobiles etc. High-performance polymers were invented in 1960 by Phillips organization.
The Covid-19 outbreak has shown a negative impact on the growth of the global high-performance polymer market. During pandemic, the demand of high-performance polymers has decreased due to the lockdown conditions and restrictions on transportation imposed by various nations. The Covid-19 outbreak has created a delay in addressing end-user requirements. Demand from various industries such as automotive, electronics and others have decreased due to the supply chain disruption. However, post-pandemic industry is showing significant growth owing to the resume of the manufacturing industry.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD XX Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD XX Billion|
|Tables, Charts & Figures:||175|
|High-Performance Polymers Key Players||DuPont, 3M, Solvay, Resirene, MC Polymers, Celanese, Arkema, Chevron Phillips, Victrex, Sabic Global technologies, others.|
|Segments Covered||By Product Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
On February 17th, 2022; Omniseal Solutions had settled on the business choice to close their Rulon material circulation partnership with Fluorten. Omniseal Solutions will work directly with momentum and new clients, proceeding with their worldwide but local client driven methodology. This business bearing is important for their system to develop nearer relationships with OEMs in designated industries like industrial and aviation where the fluoropolymer arrangement is broadly used because of its dependability and long- time wear and friction performance in basic applications. Omniseal Solutions will better comprehend client challenges as well as work together with them to develop high-performance, polymer solutions for handle future prerequisites.
On July 28th, 2021; UK 3D printing filament brand, Filamentive, announced the launch of Filamentive PRO – a specialised portfolio of high performance 3D printing polymers for engineering applications. With hardware innovation enabling desktop FFF / FDM 3D printers to be capable of printing high temperature materials, high-performance polymers such as PEEK, PEKK, PPSU and ULTEM can now be utilised by engineers to create custom, high-value parts for critical applications.
On May 31st, 2021; Nexa3D, the maker of ultra-fast Stereolithography 3D printers, announced the immediate availability of its latest high-performance polymer material, the xCE-Black, formulated for producing end-use plastic parts and injection moulding tools in minutes. Nexa3D’s new material is a single cure polymer that delivers higher flexural strength compared to those typically achieved only in dual cure cyanate ester resins. xCE-Black has excellent isotropic properties and exhibits long-term environmental stability making it well suited for a variety of automotive parts, electronics and many industrial components as well as the production of injection moulding tools.
On January 25th, 2021; Researchers of University of Liverpool developed a new polymerization method to manufacture high performance polymers. The technology takes broadly accessible chemical building blocks and, in a highly scalable process, transforms them into better performance polymeric items with the potential to engineer in degradability.
One of the major factors driving the growth of global high performance polymer market is rising demand of electric vehicles. High performance polymers are essentially utilized as replacement for conventional materials, including polymers and metal or composites that are utilized in automotive parts. At present, High performance polymers are broadly utilized in automotive applications in the assembling of body parts, exteriors, interiors, speedometer dials, dashboards, guiding wheels, lock handles, powertrain, armrests, and motor parts, in the engine parts, and structural components. Along with other functions of a vehicle like lights, air conditioning the engine of an electric vehicle operates on electric power. Therefore an electric battery which is a power source for the electrical vehicle is the main component of an electric vehicle. As high performance polymers which provide a safe operating environment for electric batteries due to its robustness acts like a base for electric vehicles polymers. Therefore, growing demand for electrical vehicles generates a need for high performance polymer over the forecast period. For instance; as per the International Energy Agency; there are about 5.6 million electric vehicles are present worldwide.
In addition, another major factor supplementing the growth of global high performance polymer market is growing healthcare industry. The biodegradable and robust nature of the high performance polymers along with unique shape change property makes the shape changing polymers an important component in the medical industry. High performance polymers are used extensively in orthodontic treatments and dental implants. The properties like durability, elasticity and resistance of corrosion of high performance polymers make it a perfect material for braces, dental implants and dental crowns. For example; according to a braces manufacturer company Invisible Braces, braces manufacturers around 45 % of the world’s population use braces. Hence, use of high performance polymers in orthodontic treatments boosts the high performance polymers market. Furthermore, increasing demand from consumer electronics industry also drives the growth of global high performance polymer market. The high performance polymers have various applications in the electronic industry such as hard disk drives, fiber optics, sensors and printed circuit boards.
However, high cost of the materials and huge competition from hybrid polymers may hamper the global high performance polymer market growth. In spite of that, increasing advancements in this field can provide various opportunities for the further growth of the global high performance polymer market.
Geographically, North America is expected to dominate the global high-performance polymer market due to the exponential rise in the electronic industry, growing demand from medical sectors and rising adoption of advanced technology in this region. For instance; according to the United States Census Bureau, the electric industry revenue has increased by 3% in 2019 since 2018. Also, increasing number of smartphone users in United States of America, and as the smartphone is the most popular electronics commodity. This gives a positive boost to the electronics industry which further drives the high performance polymer market. In addition increasing use of high performance polymers in the healthcare industry is also fostering the market growth. For example; according to Pennsylvania Dental Association; around four million residents of North America have braces.
Europe is projected to show a significant growth in the global high performance polymer market due to growing automotive industry and highly developed healthcare infrastructure in this region. The presence of number of automobile companies in European region is one of the major factors supplementing the market growth. Out of the 10 best automobile companies three of them have their headquarters in Europe. For instance; according to Europe Automobile Manufacturer Association; around 11 million passenger vehicles were produced in Europe in 2022.
Some of the key players for global high-performance polymers market report covers are
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