The high-performance plastics market will be worth $42.08 billion

PUNE, India, Jan. 25, 2023 (GLOBE NEWSWIRE) — The global one High Performance Plastics Market Size was rated at $20.93 billion in 2021. The market is projected to grow from $22.71 billion in 2022 to $42.08 billion to 2029, showing a CAGR of 9.2% during the forecast period.

This information is presented by Fortune Business Insightsin his report entitled “High Performance Plastics Market, 2022-2029.”

The competitive environment:

Announcement of innovative product launches by key players to support the growth of the high performance plastics market

Prominent players are adopting several strategies to strengthen their position in the market as leading companies. One such key strategy is acquiring companies to increase their brand value among consumers. Another important strategy is the periodic launch of innovative products with detailed market research and its target audience.

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List of key players mentioned in the report:

  • Solvay (Belgium)
  • BASF SE (Germany)
  • Arkema (France)
  • Evonik Industries (Germany)
  • DuPont (USA)
  • SABIC (Saudi Arabia)
  • DAIKIN INDUSTRIES, Ltd (Japan)
  • Victrex plc (UK)
  • Saint-Gobain Performance Plastics (France)
  • DSM (Netherlands)

Key industry developments:

July 2022: To facilitate the recycling of plastics, BASF introduced the PuriCycle range of adsorbents and catalysts. The most complex waste plastic pyrolysis foods can be purified with these cutting-edge, high-performance products.

Report Coverage:

The report presents a holistic study of the market along with current trends and future expectations to establish estimated investment returns. An in-depth analysis of any upcoming opportunities, threats, competition or driving factors is also mentioned in the report.

Report Scope and Segmentation:

Report coverage Details
Forecast period 2022-2029
Forecast CAGR 9.2%
2029 Value Projection 42.08 billion US dollars
Base year 2021
High Performance Plastics Market Size 2021 20.93 billion US dollars
Historical data 2018-2020
Number of pages 195
Covered segments By type, end user and regional information
High Performance Plastics Market Growth Drivers The Asia-Pacific region will be a leader, supported by the rise of the electrical and electronics industry
The transportation segment has the largest share of revenue

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Guides and Limiters:

Special features of high quality plastics to support market growth

The advantages of high-performance plastics in terms of profitability and lower weight are the main drivers for business development. Plastics are used in a variety of industries, including automotive, defense, aerospace and construction, due to their excellent mechanical and high thermal properties and chemical stability. To reduce costs without compromising quality, these end-use sectors need lighter materials with the same or better qualities as metals. These industries have benefited significantly from the production of high-performance plastics, which is expected to fuel global expansion.

Regional Insights:

The Asia-Pacific region will be a leader, supported by the rise of the electrical and electronics industry

Asia Pacific has the largest market share of high performance plastics and is expected to continue to rule the industry in the coming years. The growth of the electrical and electronic industry is linked to the growth of the region.

By 2029, North America is expected to experience a significant growth rate. Strong demand for products in the region is the reason for consumer preference for high-quality raw materials and high disposable income.

The rapid growth of the automotive sector, which is important for the economies of European nations, is related to the expansion of the market in Europe. The largest investments are found in the automotive sector, which also has some of the most creative car manufacturers and best-in-class engine efficiency in the region.

segments:

The demand for fluoropolymers is increasing due to their dominant use in end-use industries

On the basis of type, the market is segmented into fluoropolymers, polyamides, polyphenylene sulfide (PPS), sulfone polymers (SP), liquid crystal polymers (LCP), and others.

The demand for fluoropolymers is relatively high due to their huge presence in industry.

The transportation segment accounted for the largest share of revenue

On the basis of end-use industry, the market is segmented into transportation, electrical and electronics, industrial, medical, and others.

The growth of the transportation segment is related to the dominant use of high-performance plastics in the production of automotive parts and insulation.

Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Impacts of COVID-19:

Supply chain disruptions due to lockdown restrictions have hampered market growth

Since the COVID-19 pandemic began to spread in the fourth quarter of 2019, various countries, including China, Japan, the US, India, Germany, Italy and Canada, have announced lockdowns that have restricted the flow of goods and resources. As the distribution of finished items and the supply of raw materials were affected, COVID-19 seriously hurt the revenue generation of plastic manufacturers.

View detailed summary of research report with TOC:

https://www.fortunebusinessinsights.com/high-performance-plastics-market-107109

Detailed content:

  • Introduction
    • Scope of the study
    • Market segmentation
    • research methodology
    • Definitions and assumptions
  • Executive summary
  • Market dynamics
    • Market drivers
    • Market restrictions
    • Market opportunities
  • Key insights
    • Key trends
    • Key developments
    • Insights into the regulatory scenario
    • Latest technological advances
    • Porters Five Forces Analysis
  • Qualitative Insights – Impact of COVID-19 on the Market
    • Supply chain challenges
    • Steps taken by government/companies to address this impact
    • Potential opportunities due to the outbreak of COVID-19
  • Global High Performance Plastics Market Analysis, Insights and Forecasts, 2018-2029.
    • Key Findings / Summary
    • Market Size Estimates and Forecasts, by Type (Value/Volume)
      • Fluoropolymers
      • Polyamides
      • Polyphenylene sulfide (PPS)
      • Sulfone Polymers (SP)
      • Liquid Crystal Polymers (LCP)
      • others
    • Market Size Estimates and Forecasts, by End-Use Industry (Value/Volume)
      • Transportation
      • Electrical and Electronics
      • Industrial
      • medical
      • others
    • Market Size Estimates and Forecasts, by Region (Value/Volume)
      • North America
      • Europe
      • Asia and the Pacific
      • Latin America
      • Middle East and Africa

Toc Continued…

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