Pune, India -- (SBWIRE) -- 11/01/2018 -- Global High Performance Plastics Market
The global high performance plastics market is majorly fragmented into four prominent regions, which are North America, Europe, Asia Pacific, and Rest of the World. Among these, North America and Europe are likely to dominate the global high performance plastics market over the forecast period. This is due to the presence of numerous industry leaders and the constant need for technological upgrades. The automotive and consumer electronics industries are the prominent industries in these regions, which are further boosting the high performance plastics market. The supportive government policies and regulations coupled with elevating demand for high performance plastics from all end-use industries is creating a wide scope of the market evolution in these region.
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Asia Pacific is anticipated to witness the fastest CAGR over the forecast period, owing to growth in urbanization and industrialization. Electronics industries in the prominent Asia Pacific countries, such as China, Japan, South Korea, and India, are likely to exhibit phenomenal growth over the forecast period. The growing and flourishing automobile industry in the Asia Pacific is on the verge of phenomenal growth due to numerous technological advancements, such as hybrid and electric vehicles. This has created a pathway for the high performance plastic to immensely advance in the Asia Pacific region.
The key players of global high performance plastics market are Daikin Industries, Ltd. (Japan), Celanese Corporation (U.S.), Solvay S.A. (Belgium), BASF SE (Germany), Arkema S.A. (France), Evonik Industries AG (Germany), Kuraray Co., Ltd. (Japan), E. I. Dupont De Nemours and Company (U.S.), Victrex PLC (U.K.), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), 3M Company (U.S.), DSM Company (The Netherlands), EMS-CHEMIE AG (Switzerland), Kuraray Europe GmbH (Germany), and Saint-Gobain Performance Plastics Corporation (France).
High Performance Plastics Market Segmenetation
Global high performance plastics market has been segmented based on type, end-use, and region.
Based on the type, the market is segmented into fluoropolymers, polyamides, sulfone polymers, polyphenylene sulfide, liquid crystal polymers, polyetherimide, and others. Among these, the fluoropolymers is projected to dominate the high performance plastics market until 2023. The foremost position of this segment is due to the wide application of fluoropolymers in coating, seals, gaskets, tubing, films, and compounding.
Based on end-use, the market is segmented into automotive, aerospace & defense, electrical & electronics, industrial, and others. Automotive segment is projected to be the fastest-growing end-use segment. High performance plastics are increasingly in demand in automotive manufacturing as they make vehicle lighter, which helps in reducing the fuel consumption and reduction in carbon emission.
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