The global heat resistant polymers market is expected to reach USD 21.38 billion by 2025, according to a new report by Grand View Research, Inc. The market is likely to be influenced by the growing investments in the aerospace, electronics and the automotive sector.
Heat resistant polymers are resistant to degradation at high temperatures and thus can be extensively used in the transportation,electronics, defense, and bio-medical sector. High temperature resistant polymers are produced from chemicals using a various process, the most popular one being the chain reaction polymerization.
These polymers are consumed in the production of electrical insulations, coal boilers, packaging, and gaskets. Moreover, they are also utilized as raw materials for making high temperature fuel cells in the chemical manufacturing industry. Automotive and aerospace companies are continuously capitalizing their research and development operations to bring in advanced solutions for increasing fuel efficiency of the vehicles by replacing conventional materials.
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Further key findings from the report suggest:
The global heat resistant polymers demand is expected to reach 1.27 million tons by 2025, growing at an estimated CAGR of 6.2% over the forecast period
The fluoropolymer segment accounted the largest market share in 2016 on account of its widespread use in the manufacturing of plastics, coatings, optical, medical, & electronic devices
Polyphenylene sulfide possess properties such as resilience to alkalis, mildew, bleaches, aging, sunlight, and abrasion which is required for manufacturing aerospace equipment
The transportation segment accounted for over 50.16% of the total heat resistant polymer market and is projected to witness the maximum growth rate during the forecast period
Wire & cables are used in various application where high tensile strength, solvent resistance, flammability and electrical resistivity is required
The electronics & electrical segment accounted for more than 34.45% of the overall heat resistant polymer market and is anticipated to witness the highest growth rate over the coming years
Key players include BASF SE, Honeywell International Inc., E. I. Du Pont De Nemours and Company, Daikin Industries, Evonik Industries AG, DIC Corporation, Celanese Corporation, Solvay S.A.
Research & development activities, new product launches, and technological collaborations are some of the key strategic initiatives taken up by the leading companies
Grand View Research has segmented the global heat resistant polymers market on the basis of product, end-use, and region:
Heat Resistant Polymers Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Polyether ether ketone
Heat Resistant Polymers End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Electricals & electronics
Heat Resistant Polymers Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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