- Polyphthalamide (PPA)
- Polyphenylene Sulphide (PPS)
- Sulfone Polymers (SP)
- Polyamide (PA)
- Liquid Crystal Polymers (LCP)
High-Performance Polymers market size was valued at USD 22,853.1 million in 2022 and is poised to grow at a CAGR of 4.8% over 2023-2029. High-performance polymers are a family of polymer materials with remarkable mechanical, thermal, chemical, and electrical capabilities. The polymers are made to meet strict specifications in a variety of industries and are developed to perform better in specific applications than common commodity plastics. The increased demand for lightweight polymers in industries like automotive and aerospace to improve fuel efficiency and reduce emissions is expected to drive the high-performance polymers market. Moreover, owing to their biocompatibility, stabilizability, and resistance to chemicals and body fluids, high-performance polymers are in high demand in the medical sector. High-performance polymers derived from renewable and biological sources now have more prospects as society moves toward more environmentally friendly and sustainable materials and provides several opportunities to manufacturers for the development of the market. For instance, in November 2022, Ascend Performance Materials acquired California-based Circular Polymers, a postconsumer, high-performance polymers recycler. The deal provided Ascend with a consistent supply of high-quality PCR materials for its ReDefyne sustainable polyamides. Additionally, the miniaturization of electronic components with exceptional electrical properties and dimensional stability by high-performance polymers is currently in trend and is anticipated to experience market growth. But, the high cost of high-performance polymers than conventional polymers and other materials like metals hinders the market growth. However, innovation and technological advancements, urbanization and industrialization, infrastructure development, and increased disposable income among the population are anticipated to fuel the market growth during the forecasted years.
Fastest Growing Market
The market is expected to rise owing to increased consumption in the automotive sector. High-performance polymers experienced the quickest rate of growth in the automotive sector as it provides numerous benefits and enable advancements in design, performance, and efficiency. Due to their superior mechanical qualities, thermal stability, chemical resistance, and low friction coefficients, these polymers are used in a variety of automotive applications such as engine components, fuel system components, suspension and chassis components, sealing, gaskets, and others. Furthermore, the electrical connectors, sensors, and wiring harnesses are made of polymers with strong electrical insulating qualities, such as polyphenylene sulphide (PPS) and polyetherimide (PEI) to ensure dependable electrical performance to tolerate high temperature ranges. Thus, incorporating high-performance polymers helps to meet stringent performance requirements, enhances safety, and contributes to advancements in the automotive industry that further propels the market growth.
The high-performance polymer market valued at USD 22,853.1 Million in 2022 and is expected to grow at 4.8% CAGR over the forecast period 2023 – 2029.
The miniaturization of electronic components with exceptional electrical properties and dimensional stability by high-performance polymers is the key trend in the high-performance polymer market.
DuPont, 3M, Solvay, BASF SE, Celanese Corporation, DAIKIN INDUSTRIES, Ltd., Resirene, MC Polymers, Celanese, Arkema, Chevron Phillips, Victrex, Sabic Global technologies, Arkema, E. I. Dupont De Nemours and Company, Evonik Industries AG, Saudi Basic Industries Corporation (SABIC), Solvay S.A. and Sumitomo Chemical Co., Ltd are a few companies operating in the high-performance polymer market.