High-Performance Polymers Market size is forecast to reach $14 billion by 2026, after growing at a CAGR of 9% during the forecast period from 2021-2026. The rising need for lightweight vehicles and electric vehicles is one of the major factors fueling the demand for the high-performance polymers market. Further, the growing demand for advanced polymers like fluoropolymers due to versatile properties in various end-use industries such as transportation and construction will boost the future demand too. Polyphenylene sulfide is a partially crystalline, high-temperature performance polymer. This polymer has a high melting point of approximately 280°C, excellent chemical resistance, and is inherently flame retardant. Apart from this, high-performance polyamides can make durable, functional components for automotive thermal management and other demanding applications. The COVID-19 pandemic has affected the whole supply chain of polymer manufacturing due to the complete or partial shutdown of companies. This also has an impact on the growth of the polymers business in the forecast period. Apart from this, lightweight vehicle production is expected to drop more than 20% due to COVID-19.
- North America dominates the high-performance polymer market due to the presence of polymers (like fluoropolymers and polyphenylene sulfide) in major end-use industries such as automotive, aerospace, and construction.
- Increasingthe demand for lightweight vehicles, which are most cost-effective without reducing quality. The adoption of emerging light-weight vehicles in developed countries will boost the growth of high-performance polymers market.
- The demand of high-performance polymers market is rising because of its lightweight, temperature stability, stiffness, reducing vibration and low maintenance requirements.
High-Performance Polymers Market Segment Analysis – By Type
High-Performance Polymers Market Segment Analysis – By Crystallinity
High-Performance Polymers Market Segment Analysis – By Production Technology
High-Performance Polymers Market Segment Analysis – By Processing Method
High-Performance Polymers Market Segment Analysis – By Application
High-Performance Polymers Market Segment Analysis – By End-Use Industry
High-Performance Polymers Market Segment Analysis – By Geography
High-Performance Polymers Market Drivers
Increasing Demand from Automotive Industry for more Lightweight Productivity
High-Performance Polymer Market Challenges
Volatile Raw Material Prices
High-Performance Polymers Market Landscape
- In February 2019, Arsonist SA came into partnership with Solvay to create SLS 3D printing process for high-performance polymers enabled the efficient production. It has helped in the reduction of operating cost and reduces excessive wastage, as well as this technology, has made 3D printing of high-performance polymers more affordable.
- In February 2019, AGC launched FEP high-performance fluoropolymer under its brand, AFLAS. This polymer is used majorly in automotive underhood component systems and can withstand an operating temperature of 392oF.