High-Performance Plastics Market

High-Performance Plastics Market Analysis Report by Product Type, by Application and by End Users: Global Opportunity Analysis and Industry Forecast 2030

LUTON, BEDFORDSHIRE, UNITED KINGDOM, March 5, 2024 /EINPresswire.com/ — “Exactitude Consultancy That Adds Flavour To Your Success”

The High-Performance Plastics Market Size, Scope, and Forecast 2024-2030 report has been added to the Market research collection of Exactitude Consultancy reports. Industry experts and researchers have offered an authoritative and concise analysis of the High-Performance Plastics Market with respect to various aspects such as growth factors, challenges, restraints, developments, and opportunities for growth. This report provides a pin-point analysis of changing dynamics and emerging trends in the High-Performance Plastics Market. Additionally, it provides a futuristic perspective on various factors that are likely to fuel the growth of the Worldwide High-Performance Plastics Market in the coming years.

The global high-performance plastics market size was valued at USD 20.58 billion in 2023, and projected to reach USD 44.99 billion by 2030, with a CAGR of 9.08% from 2024 to 2030.

High-performance plastics are different from engineering plastics and standard plastics mainly by their temperature stability but by their mechanical properties and chemical resistance, price, and production volume. These are plastics that meet higher requirements than engineering and standard plastics. They are more expensive and are used in smaller quantities. High performance plastics have higher levels of chemical resistance, mechanical strength, and temperature resistance.

Increasing applications in numerous industries drive the market due to their superior anti-corrosion and thermal conductivity properties. High performance plastics are gaining demand due to their excellent performance at high temperatures and as highly reactive chemicals. These plastics offer mechanical strength, chemical resistance, and high heat stability. However, the market accounts for only a small share of the global plastics market, and demand for these plastics is anticipated to increase significantly during the forecast period.

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Some of the key players profiled in the study are: Solvay, BASF SE, Arkema, Dover High-Performance Plastics, Evonik Industries, DuPont, SABIC, CoorsTek, DAIKIN INDUSTRIES, TriStar Plastics Corporation, Victrex plc, Saint-Gobain Performance Plastics, DSM, Quantum Polymers and other Prominent players.

Industry Development:

May 23, 2023 – Evonik and Production to go announced a new non-exclusive distribution arrangement for the company’s 3D printing supplies. With this agreement, Production to Go took a step towards strengthening its position as a distributor in the quickly increasing market for high-performance 3D printing materials. This arrangement will also help Evonik reach and service its clients more effectively.

May 2, 2023 – A formal agreement was reached under which DuPont would purchase Spectrum Plastics Group from AEA Investors. Existing cash balances will be used to cover the purchase price.

Competition is an important issue in any market research analysis. With the help of the competitive analysis provided in the report, players can easily study the key strategies employed by leading players in the High-Performance Plastics Market. The major and emerging players of the High-Performance Plastics Market are closely studied considering their market share, production, sales, revenue growth, gross margin, product portfolio, and other important factors. This will help players familiarize themselves with the movements of their toughest competitors in the High-Performance Plastics market.

The segmental analysis section of the report includes a thorough research study on key type and application segments of the High-Performance Plastics market

High-Performance Plastics Market by Type, 2020-2030, (USD Billion) (Kilotons)

Fluoropolymers

High-Performance Polyamides

Polyphenylene Sulphide

Sulfone Polymers

Liquid Crystal Polymers

Aromatic Ketone Polymers

Poly-Imide

High-Performance Plastics Market by Application, 2020-2030, (USD Billion) (Kilotons)

Transportation

Electrical and electronics

Industrial

Medical

Others

High-Performance Plastics Market Regional Analysis/Insights

The market for high-performance plastics worldwide is dominated by North America with 32% share. High-performance plastics are increasingly in demand in this area, primarily as a result of their expanding application in the electrical, electronic, and medical sectors. The second-largest producer and user of high-performance plastics worldwide is Europe. The region’s economy is primarily driven by the expanding opportunities in the transportation sector. The primary HPP market is anticipated to be in Asia-Pacific throughout the anticipated timeframe. This sector is expected to expand in opposition to the growth of the electronics and automotive sectors in China and India’s and China’s rising economies. The development of the industrial manufacturing base, the progress of the automotive sector, and the HPP industries are also expected to prosper in North America and Europe.

The high-performance plastics market is driven by a number of factors, including:

Increasing demand for lightweight and fuel-efficient vehicles: The automotive industry is a major driver of the high-performance plastics market, as these materials are used to make lighter and more fuel-efficient vehicles. This is due to the growing emphasis on reducing emissions and improving fuel economy. High-performance plastics can help to reduce the weight of vehicles by up to 50% compared to traditional materials such as steel.

Growing demand for medical devices: The medical device industry is another major driver of the high-performance plastics market, as these materials are used to make a wide range of medical devices, such as implants, catheters, and syringes. High-performance plastics are biocompatible, meaning that they are not harmful to human tissue, and they can also be sterilized to prevent the spread of infection.
Increasing demand for electronic devices: The electronics industry is also a major driver of the high-performance plastics market, as these materials are used to make a wide range of electronic devices, such as circuit boards, connectors, and housings. High-performance plastics are flame retardant, meaning that they will not easily catch fire, and they are also electrically insulating, meaning that they will not conduct electricity.

Stringent government regulations: Governments around the world are increasingly imposing stricter regulations on the use of traditional materials, such as metals, due to their environmental impact. This is creating a demand for more sustainable materials, such as high-performance plastics.

Advancements in technology: Advancements in technology are also driving the growth of the high-performance plastics market. For example, the development of new manufacturing processes has made it possible to produce high-performance plastics at a lower cost. Additionally, the development of new types of high-performance plastics with improved properties is also creating new opportunities for growth in this market.

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Here’s how Exactitude Consultancy helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The researchers analyse recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures.

Perfect Market Size Estimations: The report analyses the demographics, growth potential, and capability of the High-Performance Plastics market through the forecast period.

This factor leads to the estimation of the High-Performance Plastics market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular High-Performance Plastics market that will help the stakeholders to be aware of the current investment scenario across the market.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the High-Performance Plastics market.

– Updated financial information and product portfolios of players operating in the High-Performance Plastics  market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

The new edition of the report consists of trends/disruptions on customer’s business, tariff and regulatory landscape, pricing analysis, and a market ecosystem map to enable a better understanding of the market dynamics for High-Performance Plastics.

Customization services available with the report:

– Country level market for High-Performance Plastics market (up to 5)
– Profiling and additional market players (up to 5)
– Up to 40 hours of customization.
– post-sales support for 1 year from the date of delivery.

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