High Performance Plastics Market to Worth $42.08 Billion by 2029

Key companies covered in high performance plastics market are Solvay (Belgium), BASF SE (Germany), Arkema (France), Evonik Industries (Germany), DuPont (U.S.), SABIC (Saudi Arabia), DAIKIN INDUSTRIES, Ltd (Japan), Victrex plc (U.K.), Saint-Gobain Performance Plastics (France), DSM (Netherlands), and Others.

Pune, India, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The global high performance plastics market size was valued at USD 20.93 billion in 2021. The market is projected to grow from USD 22.71 billion in 2022 to USD 42.08 billion by 2029, exhibiting a CAGR of 9.2% during the forecast period.

This information is presented by Fortune Business Insights, in its report titled, 'High-Performance Plastics Market, 2022-2029.'

Competitive Landscape:

Innovative Product Launch Announcement by Key Players to Bolster High-Performance Plastics Market Growth

The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster their brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.

Get a Sample Copy of the Research Report:

URL

List of Key Players Mentioned in the Report:

Solvay (Belgium)

BASF SE (Germany)

Arkema (France)

Evonik Industries (Germany)

DuPont (U.S.)

SABIC (Saudi Arabia)

DAIKIN INDUSTRIES, Ltd (Japan)

Victrex plc (U.K.)

Saint-Gobain Performance Plastics (France)

DSM (Netherlands)

Key Industry Development:

July 2022: To facilitate the recycling of plastics, BASF introduced the PuriCycle array of adsorbents and catalysts. The most complex waste plastic pyrolysis feeds 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 anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or driving factors is also mentioned in the report.

Report Scope & Segmentation:

Report Coverage

Details

Forecast Period

2022-2029

Forecast CAGR

9.2 %

2029 Value Projection

USD 42.08 Billion

Base Year

2021

High Performance Plastics Market Size in 2021

USD 20.93 Billion

Historical Data

2018-2020

No. of Pages

195

Segments Covered

By Type, End-user and Regional Insights

High-Performance Plastics Market  Growth Drivers

Asia Pacific to Lead Backed by Rise in the Electrical & Electronics Industry

Transportation Segment Accounted for the Largest Revenue Share

Get a Quote Now:

URL

Drivers and Restraints:

Special Characteristics of High-Performance Plastics to Aid Market Growth

The advantages of high-performance plastic in terms of cost-effectiveness and lighter weight are major development drivers for the business. Plastics have been used in a variety of industries, including automotive, defense, aerospace, and construction due to their excellent mechanical and high thermal qualities 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 greatly benefited from the high-performance plastics industry, which is expected to fuel global expansion.

Regional Insights:

Asia Pacific to Lead Backed by Rise in the Electrical & Electronics Industry

The Asia Pacific region has the biggest high-performance plastics market share and is expected to continue to rule the industry in the coming years. The expansion of the electrical and electronics industry is related to the region's growth.

By 2029, North America is anticipated to experience a significant growth rate. The region's strong product demand is the cause of consumers' preference for premium raw resources and high disposable income.

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

Segments:

Fluoropolymers to Surge Demand due to their Dominant Use in End-use Industries

Based on 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 comparatively high due to their massive performance in industries.

The transportation Segment Accounted for the Largest Revenue Share

Based on end-use industry, the market is segmented into transportation, electrical & electronics, industrial, medical, and others.

The growth of the transportation segment is associated with the dominant use of high-performance plastic in automobile parts manufacturing and insulation.

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

COVID-19 Impacts:

Supply Chain Disruptions Due to Lockdown Restrictions Hampered Market Growth

Since the COVID-19 pandemic began to spread in the fourth quarter of 2019, various nations, including China, Japan, the U.S., India, Germany, Italy, and Canada have announced lockdowns that have restricted the flow of goods and resources. Since the distribution of finished items and the supply of raw materials were both impacted, COVID-19 has severely harmed the income generation of plastic manufacturers.

Browse Detailed Summary of Research Report with TOC:

URL

Detailed Table of Content:

Introduction

Research Scope

Market Segmentation

Research Methodology

Definitions and Assumptions

Executive Summary

Market Dynamics

Market Drivers

Market Restraints

Market Opportunities

Key Insights

Key Trends

Key Developments

Insights on Regulatory Scenario

Latest Technological Advancements

Porters Five Forces Analysis

Qualitative Insights – Impact of COVID-19 on Market

Supply Chain Challenges

Steps taken by Government/Companies to overcome this impact

Potential opportunities due to COVID-19 outbreak

Global High Performance Plastics Market Analysis, Insights and Forecast, 2018-2029

Key Findings / Summary

Market Size Estimates and Forecast, By Type (Value/Volume)

Fluoropolymers

Polyamides

Polyphenylene sulfide (PPS)

Sulfone Polymers (SP)

Liquid Crystal Polymers (LCP)

Others

Market Size Estimates and Forecast, By End-use Industry (Value/Volume)

Transportation

Electrical & Electronics

Industrial

Medical

Others

Market Size Estimates and Forecast, By Region (Value/Volume)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Toc Continued…

Get your Customized Research Report:

URL

Read Related Insights:

Concrete Admixtures Market Share and regional forecast 2022-2028

Industrial Fasteners Market Size, Share, Growth Outlook 2022-2029

Alkaline Battery Market Size, Share, Growth Outlook 2022-2029

About Us:

Fortune Business LINK delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights Pvt. Ltd.

9th Floor, Icon Tower,

Baner - Mahalunge Road, Baner,

Pune-411045, Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: EMAIL

Connect us via Social Media Channels:

LinkedIn  Facebook  Twitter Blogs