The high temperature thermoplastics offer recyclability and high strength to the
Posted by MDFtrends on August 29th, 2019
The global high temperature thermoplastics market was valued at USD 15.22 billion in 2018 and is expected to reach USD 22.70 billion in 2023, with a CAGR of 8.55% during the forecast period. High Temperature Thermoplastics are utilized in small amounts to add thermal stability to the product. These materials are made by advanced compounding techniques, which are employed to escalate the integrity and structural properties of the materials. They offer recyclability and high strength to the product. Furthermore, excellent flexibility, chemical resistance, and durable nature are the important properties that pose as factors influencing the market confidently. Hence, they are employed in different applications such as transportation, electrical & electronics, industrial, medical, and others.
Market drivers and restraints:
The transportation segment holds the majority of the market on account of growing use of thermoplastic materials in automotive and aerospace sectors to manufacture high standard and optimized systems such as mechanical gears, and air intake in the industries. In addition to that, the medical segment is expected to witness a fast growth in the market owing to rising consumption of high standard materials to provide excellent dimensional and mechanical properties to the product.
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Report segmented as:
The High Temperature Thermoplastics Market is segregated into five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a high share of the market owing to the growing adoption of lightweight materials in transportation, electrical & electronics, industrial, medical, and others.
Important market players:
Some of the key players operating in the Global High Temperature Thermoplastics Market include BASF SE (Germany), Celanese Corporation (U.S.), Solvay (Belgium.), Arkema (France), Evonik Industries AG (Germany), DowDuPont ( U.S.), SABIC (Saudi Arabia), Victrex plc (U.K), Royal DSM (the Netherlands), and TORAY INDUSTRIES, INC (Japan) among others.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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