Fluoropolymers Account for Nearly One-third Revenue Share of Global High Temperature Plastics (HTP) Market: Fact.MR Study
29 June 2022
As per thorough industry analysis by Fact.MR, a market research and competitive intelligence provider, the global high temperature plastics (HTP) market is anticipated to rise at a CAGR of 5.8% from 2022 to 2032.
Plastics are known to be a type of organic polymer with a high molecular mass and a tendency to contain additional materials. Polyimides are high-performance plastics with excellent thermal and electrical resistance and high strength. They are commonly used in the automotive and transportation sectors, as well as for consumer goods and electrical & electronic applications.
For Critical Insights on High Temperature Plastics Market, Request a Sample Report
The market for high-temperature plastics will be driven by polypropylene's high-temperature capability. Fluoropolymers will become more popular as the packaging industry grows. Fluoropolymers are omnipresent in modern life, appearing in everything from food packaging to non-stick cooking pan coatings. Fluoropolymers are versatile materials that can meet a variety of industrial demands.
The global high-temperature plastics market would also benefit from increased demand from the coatings industry. As automakers increasingly use high temperature plastics to construct engine parts, market demand is expected to grow rapidly. The vast range of features of high temperature plastics has led to its growing use in a variety of end-use sectors.
What Roadblocks Do High Temperature Plastic Manufacturers Encounter?
“Rising Cost of High Temperature-Resistant Plastics across the World”
Polymers such as polyketones, polyphenylene sulphides, and liquid crystal polymers are used to make high temperature plastics. Prices of these polymers are fluctuating, resulting in a significant increase in the cost of the final product. Manufacturing high temperature plastics can be difficult, which could stymie industry growth. This is projected to stifle high temperature plastic sheet sales.
The first issue with using high temperature elastomers in medical applications is that polymers are brittle and difficult to work with. Medical devices are frequently exposed to high temperatures, but they are also subjected to a variety of environmental stresses such as abrasions, cuts, and pressures.
Machinable high temperature plastics are more expensive, making them unsuitable for many healthcare uses. This is one of the most significant obstacles to overcome when employing high temperature plastics in medical applications. High temperature plastics are also difficult to form into complicated shapes and are typically brittle and stiff, making them unsuitable for applications requiring high flexibility and strength.
To learn more about High Temperature Plastics Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=7419
Key Segments Covered in the High Temperature Plastics Industry Survey
HTP Market by Product Type :
- High-performance Polyamides
- Polyphenylene Sulfide
- Liquid Crystal Polymers
HTP Market by End Use :
- Other End Uses
HTP Market by Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
High temperature plastic manufacturers are investing in supply chain networks to ensure flawless manufacturing and delivery. To increase their production, most companies engage in strategic partnerships, capacity growth, new product development, acquisition, and the formation of new organizations.
- In May 2019, Solvay and Safran, a France-based company, announced a long-term deal for the delivery of high-temperature innovations for key engine supplies.
High temperature plastic manufacturers are focusing their efforts on growing their businesses in new areas. While attempting to expand their customer base, market players are focusing their resources and investments on profitable end uses.
Key companies are also making plans to expand their product lines and portfolios through investments and mergers and acquisitions.
- In 2019, SABIC industries introduced Xenoy HTX, a breakthrough high heat resin series for lightweight electrification advancements in automobile systems.
Get Customization on High Temperature Plastics Market Report for Specific Research Solutions
Key players in the High Temperature Plastics Market
- Daicel Chemical Industries Ltd.
- Solvay S.A
- Celanese Corporation
- Victrex plc.
- SABIC Innovative Plastics
- Eastman Chemical Company
- BASF SE
- Arkema SA
Key Takeaways from High Temperature Plastics Market Study
- Global HTP market to reach valuation of US$ 28.51 billion by 2032.
- Market in North America projected to increase at 6.3% CAGR over forecast period.
- HTP market in China projected to increase at 5.8% CAGR through 2032.
- Demand for high temperature plastics in electrical/electronic industries expected to rise at 7.3% CAGR from 2022 to 2032.
Fact.MR’s Domain Expertise in Chemicals and Materials Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals and materials division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
Explore Fact.MR's Coverage on the Chemicals and Materials Domain-
Ethylene Bis Stearamide EBS Market- The global ethylene bis stearamide (EBS) market size is witnessing prolific growth and is expected to expand at a steady CAGR of around 5% from 2021 to 2031, with manufacturers emphasizing on both, natural as well as synthetic amide waxes across prominent industrial application segments.
Industrial Floor Coatings Market- According to Fact.MR’s analysis, the market for industrial floor coatings is expected to reach nearly US$ 7 billion by 2031, expanding at a CAGR of around 3% throughout the forecast period.
Aerospace Coatings Market- Aerospace Coatings Market is predicted to increase at a CAGR of 6% from 2021 to 2031, reaching USD 2.0 billion from USD 1.4 billion. Increased demand for aerospace coatings from various end users, such as commercial aviation, military aviation, and general aviation, is driving the aerospace coatings market.
Dyes and Pigments Market- The global dyes and pigments market size is expected to reach US$ 38 billion by 2031. The dyes and pigments market is projected to grow at a moderate CAGR of over 3% during the forecast period.
Hydrophobic Coatings Market- According to Fact.MR’s hydrophobic coatings industry analysis, the market is expected to witness sales of over 10,000 tons in 2021, and increase at a CAGR above 5% to top 13,000 tons by 2031.
Ceramic Inks Market- The global ceramic inks market is estimated to account for a valuation of US$ 2.34 billion in 2022. Worldwide consumption of ceramic inks is anticipated to increase at a high CAGR of 7.7% over the forecast period and end up with a market size of US$ 4.93 billion by 2032-end.
Impregnating Resins Market- Worldwide sales of impregnating resins were valued at US$ 1.41 billion at the end of 2021, registering Y-o-Y growth of 3.8%. As per forecasts, the global impregnating resins market is projected to increase at a noteworthy CAGR of 6.5% and reach a market valuation of US$ 2.79 billion by 2032.
Maleic Anhydride Market- The global Maleic Anhydride Market was valued at US$ 2.8 Billion in 2021, and is projected to be valued at US$ 2.9 Billion in 2022. During the 2022-2032 period of assessment, demand is expected to rise at a 3.4% value CAGR, likely to reach US$ 4.1 Billion by the end of the said forecast period.
Petroleum Coke Market- Global consumption of petroleum coke is set to reach US$ 25.27 billion in 2022 and further expand at a CAGR of 9.6% to reach a market size of US$ 63.10 billion by the end of 2032.
Matting Agents Market- Global consumption of matting agents is projected to increase at a CAGR of 3.1% over the forecast period (2022-2032). As a result, the matting agents market is expected to reach a market size of around US$ 729.6 million by the end of 2032, up from US$ 537.9 million in 2022.
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583