Albany, NY -- (SBWIRE) -- 11/06/2018 -- High performance polyesters with added properties such as high durability, excellent tensile strength, elasticity, high shock absorption and moisture resistance. The field of high performance fibers has witnessed significant growth in the last few decades. High performance polyester is stable over a wide range of temperatures. It outperforms metals and glass; hence, it is used in applications in end-use industries such as packaging, building & construction, electrical & electronics, and automotive. Manufacturers strive to produce high performance polyesters that offer high heat resistance, greater light stability, and long lifespan. Generally, they are used in different forms such as strap, tape, insulation, gelcoat, films, and others. High performance polyesters are used in aircraft and space vehicles engineering.

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High Performance Polyester Market: Drivers and Restraints

The global high performance polyester market is an important factor in the production of polyesters in the packaging industry. Polyethylene terephthalate is a highly consumed polyester in food packaging applications. High performance polyesters offer barrier properties that protect and preserve contents of products. The US Food and Drug Administration and European Food Safety Authority have approved the use of high performance polyester in food packaging applications. Manufacturers of products such as food and beverages (water & carbonated soft drinks) prefer high performance polyesters owing to their outstanding mechanical and barrier properties. Demand for packaged food has been rising in emerging regions due to the rapid urbanization and growth in disposable income of consumers. Increase in population in countries such as China and India is anticipated to boost the food packaging industry in these countries. Demand for high performance polyester has been increasing in the military sector owing to their insulating and anti-corrosion properties.

Rise in number of construction projects in emerging economies is thus fueling the demand for high performance polyesters in building & construction applications. High performance polyesters are used in electrical and electronic applications due to their strong electrical and thermal insulation properties. Technological advancements in automotive and aerospace & defense sectors are driving the demand for high performance polyesters.

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High Performance Polyester Market: Key Players

Key players operating in the global high performance polyesters include BASF SE, Solvay, and TEIJIN Limited.