Global High-performance plastics market

Global High Performance Plastics Market Size, Share, Growth Analysis, By Type(Polyamides (PA), Fluoropolymers), By Application(Automotive, Aerospace) - Industry Forecast 2024-2031

Report ID: SQMIG15A2182 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 67 | Figures: 75

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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 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. 'DuPont (US)', 'BASF SE (Germany)', 'Solvay SA (Belgium)', '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 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.

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.

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.

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