High-Performance Thermoplastics Market Size Worth $65.6 Billion By 2026
High-performance thermoplastics are the desired material in large industries such as electrical and electronics and industrial applications.
Education and Training News
January 29, 2021
The global high-performance thermoplastics (HPTP) market size is estimated to reach $65.6 billion by 2026, according to a new report by Polaris Market Research. The report, “High Performance Thermoplastics Market Size, Share & Industry Report By Product Type (Polyamides, Polyphenylsufone, Sulfone Polymers, Liquid Crystal Polymers, Aromatic Polyketones, Polyethersulfone), By Application (Electrical & Electronics, Automotive, Aircraft, Industrial), By Regions, & Segment Forecast, 2019 – 2026” provides competent analysis of current market position and portrays future market trends.
With high-performance thermoplastics, largely, the demand is driven by the increased application in interior and exterior aerospace and automotive structures. HPTP exhibits properties such as high temperature resistance, high chemical resistance and mechanical properties under severe conditions.
HPTP’s are currently the material of choice to be used in aircrafts when over some decades back, major components in aircraft were assembled with aluminum as chief component. This aluminum has made way for high-performance plastics and high-performance carbon fibers. These high-performance thermoplastics are lightweight and resist high temperatures that lead to fuel optimizations.
High-performance thermoplastics are the desired material in large industries such as electrical and electronics and industrial applications. Thermoplastics have seen increasing demand in emerging economies such as India and China. A rousing demand in consumer electronic products has attributed success to market growth in thermoplastics. A rising population on a global scale and increasing disposable incomes has powered demand for these products in end-use industries that include thriving growth for market.
A sizeable middle-class population and growing urbanization has boosted demand for advanced and modern electrical and automotive products. The lower costs attributed to the product and advancements in product quality have significantly contributed to robust growth of high-performance thermoplastics.
Sources: Press materials received from the company and additional information gleaned from the company’s website.