USD 22.8 billion
High Performance Plastics Market Size, Share, Growth Analysis, By Type(Polyamides (PA), Fluoropolymers, Polyphenylene Sulfide (PPS), Liquid Crystal Polymers (LCP)), By Application(Automotive, Aerospace, Electronics and Electrical, Industrial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2182 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
67
|Figures:
75
High Performance Plastics Market Insights
High-performance Plastics Market size was valued at USD 22.8 billion in 2021 and is poised to grow from USD 24.83 billion in 2022 to USD 49.11 billion by 2030, growing at a CAGR of 8.9% during the forecast period (2023-2030).
The global high-performance plastics market has witnessed significant growth in recent years. High-performance plastics are extensively used in these industries due to their superior performance characteristics, including high strength, durability, lightweight, and resistance to extreme temperatures and chemicals. With the growing emphasis on energy efficiency and lightweight materials in automotive and aerospace sectors, the demand for high-performance plastics is expected to continue rising. Another factor contributing to the market growth is the expanding applications of high-performance plastics in the healthcare sector. These materials are widely used in medical devices, implants, surgical equipment, and pharmaceutical packaging due to their biocompatibility, chemical resistance, and sterilizability. The increasing demand for advanced healthcare solutions and the growing aging population worldwide are driving the adoption of high-performance plastics in the healthcare industry. Additionally, the presence of key automotive and electronics manufacturing hubs in countries like China, Japan, and South Korea further boosts the market growth in the region.
US High Performance Plastics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Polyamides
Fastest Growth
Polyamides
Growth Rate
8.9% CAGR
Global High Performance Plastics Market By Country ($ Bn)
Country Share for North America Region (%)
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High Performance Plastics Market Segmental Analysis
Global High-performance plastics market is segmented by type, application, and region. Based on type, the market can be segmented into Polyamides (PA), Fluoropolymers, Polyphenylene Sulfide (PPS), Liquid Crystal Polymers (LCP), Polyether Ether Ketone (PEEK). Based on application, the market is segmented into Automotive, Aerospace, Electronics and Electrical, Industrial, Healthcare and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
High-performance Plastics Market Analysis by Type
Polyamides (PA) dominated the global high-performance plastics market. Polyamides are widely used due to their excellent mechanical properties, high heat resistance, and good chemical resistance. They find applications in various industries such as automotive, electrical and electronics, and consumer goods. The versatility and cost-effectiveness of Polyamides contribute to their dominant position in the market.
The fastest-growing type in the global high-performance plastics market is Polyether Ether Ketone (PEEK). PEEK is a thermoplastic polymer known for its exceptional mechanical properties, chemical resistance, and high thermal stability. It is extensively used in demanding applications, including aerospace, automotive, medical, and oil and gas industries. The increasing demand for lightweight materials with excellent strength and durability is driving the growth of PEEK in the market.
High-performance Plastics Market Analysis by Application
In the global high-performance plastics market, the most dominant application is the automotive industry. High-performance plastics find extensive use in automotive applications due to their superior mechanical properties, lightweight nature, and ability to withstand harsh operating conditions. These plastics are used in various components such as engine parts, interior and exterior trim, electrical connectors, and under-the-hood applications.
On the other hand, the fastest-growing application in the global high-performance plastics market is the electronics and electrical industry. With the increasing demand for technologically advanced consumer electronics, telecommunication devices, and electrical equipment, high-performance plastics play a crucial role in providing electrical insulation, heat resistance, and enhanced durability. The miniaturization of electronic components and the need for lightweight materials drive the adoption of high-performance plastics in this industry.
Global High Performance Plastics Market By Type
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High Performance Plastics Market Regional Insights
North America dominated the global high-performance plastics market. With a robust industrial base, technological advancements, and strong end-user industries such as automotive, aerospace, and electronics, North America has been a significant consumer of high-performance plastics. The region benefits from well-established manufacturing capabilities and a focus on product innovation, contributing to its dominant position in the market.
Regarding the fastest-growing region in the global high-performance plastics market, Asia-Pacific emerges as a key contender. Rapid industrialization, increasing urbanization, and the growth of end-use sectors like automotive, construction, and electrical and electronics are driving the demand for high-performance plastics in the region. Countries such as China, India, and Japan are witnessing significant growth due to infrastructure development, rising disposable incomes, and technological advancements. Additionally, the increasing emphasis on lightweight materials, energy efficiency, and sustainability further accelerates the demand for high-performance plastics in the region.
Global High Performance Plastics Market By Geography
- Largest
- Fastest
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High Performance Plastics Market Dynamics
High-performance Plastics Market Drivers
Superior properties and performance
- High-performance plastics exhibit exceptional properties, including superior strength, heat resistance, chemical resistance, low friction, and electrical insulation. These unique characteristics make them highly sought-after for applications that demand performance standards beyond what traditional plastics or other materials can provide.
High-performance Plastics Market Restraints
Technological limitations
- It is important to acknowledge that despite ongoing advancements, high-performance plastics still face certain technological limitations. These limitations encompass challenges in achieving complex shapes, limitations in heat dissipation, and difficulties in attaining high-speed production processes. These technological constraints may restrict the utilization of high-performance plastics in specific applications.
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High Performance Plastics Market Competitive Landscape
The global high-performance plastics market is characterized by intense competition and a diverse range of players. High-performance plastics are engineered materials with exceptional mechanical, thermal, and chemical properties, making them suitable for demanding applications in various industries. The market landscape is shaped by several factors, including technological advancements, product innovations, and strategic partnerships.
High-performance Plastics Market Top Player’s Company Profiles
- Celanese Corporation (US)
- Covestro AG (Germany)
- Arkema SA (France)
- SABIC (Saudi Arabia)
- Evonik Industries AG (Germany)
- Mitsubishi Chemical Corporation (Japan)
- Victrex PLC (UK)
- PolyOne Corporation (US)
- LANXESS AG (Germany)
- Teijin Limited (Japan)
- Toray Industries, Inc. (Japan)
- Kuraray Co., Ltd. (Japan)
- Asahi Kasei Corporation (Japan)
- Daikin Industries, Ltd. (Japan)
- Evonik Industries AG (Germany)
- DSM Engineering Plastics (Netherlands)
- RTP Company (US)
High-performance Plastics Market Recent Developments
- In June 2023, Solvay announced the launch of a new high-performance thermoplastic resin for use in automotive applications. The resin is said to offer improved strength and stiffness, as well as good chemical resistance.
- In May 2023, DuPont announced the launch of a new high-performance thermoset resin for use in aerospace applications. The resin is said to offer improved strength and toughness, as well as good thermal stability.
- In April 2023, BASF announced the launch of a new high-performance thermoplastic elastomer for use in electrical and electronics applications. The elastomer is said to offer improved flexibility and dielectric properties, as well as good flame retardancy.
- In March 2023, DSM announced the launch of a new high-performance thermoplastic composite for use in construction applications. The composite is said to offer improved strength and stiffness, as well as good weather resistance.
- In February 2023, 3M announced the launch of a new high-performance adhesive for use in a variety of applications. The adhesive is said to offer improved strength and durability, as well as good heat resistance.
High Performance Plastics Key Market Trends
- A key market trend in the global high-performance plastics market is the increasing demand for sustainable and eco-friendly materials. As environmental concerns gain prominence worldwide, industries are seeking alternatives to conventional plastics that have a negative impact on the environment. High-performance plastics offer several advantages, such as lightweight construction, durability, and resistance to extreme temperatures and chemicals. This trend is driving the development and adoption of high-performance plastics derived from renewable sources or with improved recyclability and biodegradability.
High Performance Plastics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to the global high-performance plastics market analysis, the high-performance plastics market is driven by the increasing demand from various end-use industries such as automotive, aerospace, electronics, healthcare, and packaging. These plastics offer exceptional properties including high temperature resistance, chemical resistance, mechanical strength, and electrical insulation, making them suitable for critical applications in these industries. Rapid industrialization and urbanization, particularly in emerging economies, are fueling the demand for high-performance plastics. The growing automotive sector, in particular, is a major contributor to market growth, as these plastics are extensively used in vehicle interiors, exteriors, and under-the-hood components. The need for lightweight materials to improve fuel efficiency and reduce emissions further drives the adoption of high-performance plastics in the automotive industry. The report highlights the increasing focus on sustainability and environmental regulations as key market drivers. High-performance plastics offer advantages such as recyclability, durability, and reduced energy consumption, aligning with the sustainability goals of various industries. Additionally, stringent regulations regarding emissions and the use of hazardous materials in certain applications propel the demand for high-performance plastics as alternatives to traditional materials.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 22.8 billion |
| Market size value in 2031 | USD 49.11 billion |
| Growth Rate | 8.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on High Performance Plastics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on High Performance Plastics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the High Performance Plastics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the High Performance Plastics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the High Performance Plastics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the High Performance Plastics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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