The worldwide market for high-temperature plastics market was valued at $ 98.4 billion in 2022 and is predicted to reach $ 133.78 billion in 2028, with a CAGR of 7.2%.
The worldwide market for high-temperature plastics is expected to grow in the near future, resulting in a strong demand for high-temperature plastics in emerging countries. High-temperature plastics can be utilized in a variety of applications due to their characteristics. The need for high temperature paved the way for market expansion with its impact resistance, chemical resistance, friction and wear performance, dimensional stability, creep resistance, and most desirably, heat-resistant. They are costly and used in lesser quantities. In continuous operation, these polymers may reach temperatures above 300 degrees Fahrenheit. Torlon, PEEK, Teflon, Rulon Vespel, Meldin, Celazole, and Macor are some of examples of these materials. One of the distinguishing characteristics of thermosets, or high-temperature plastics, is their extreme heat resistance. They can withstand long-term service temperatures of more than 150°C and short-term use at temperatures of more than 250°C. These materials must possess a unique set of characteristics.
The recovery in the economy resulted in a rise in demand for high-temperature plastic. Despite the fact that these materials are expensive, the demand for high-temperature plastics is growing in major nations. Polymer advancements have accelerated in recent years all around the world. These developments have been spurred by efforts to expand the use of these high-cost, high-performance materials into new applications, notably in the medical area, where biocompatible resins are being used in orthopedic implants. Similarly, more severe technical and environmental standards in the electronics industry will encourage the development of high-temperature polymers, which are naturally flame-retardant and do not include halogenated additives. The need for high-temperature plastic will increase in general.
High-temperature plastics can be utilized in place of traditional materials, including metal, glass, and other polymers, in a number of applications. The automobile, electrical and electronics, and aerospace industries all utilize these polymers. High-performance materials are required in these sectors. Bearings, piston components, brakes, and air conditioning systems are all made of high heat thermoplastics in the automobile sector, whereas PEEK provides exceptional rain erosion resistance in aviation. Its intrinsic flame retardancy and minimal smoke and poisonous gas emission decrease hazards in a fire in aircraft interior components. To fulfill this need, a variety of high-temperature plastics are being used, which boosts the market growth. Furthermore, the market's expansion is accelerated by major competitors' strong research and development. Many important businesses are working on new HTP products and applications. For example, Air Force Research Laboratory researchers have created a cutting-edge material consisting of a high-temperature thermoset resin impregnated with carbon fiber filaments for usage in harsh settings. The most interesting breakthrough in 3D printing is “turned up the heat,” which may be utilized in a variety of applications. As a result, the need for high-temperature plastic is increasing.
High-Temperature Plastics Market Restraints:
The high cost of plastics may impede the growth of the high-temperature plastic market.
Opportunities in the High-Temperature Plastics Market:
The market for high-temperature polymers will benefit from changes in customer preferences. With the restricted attributions of traditional polymers, keeping up with the growing competition has become difficult. As a result, the manufacturer was obliged to develop a high-performance alternate option. As a result, the high-temperature plastic industry has a bright future.
Challenges in the High-Temperature Plastics Market:
The intricacy of polymer heat behavior and gaps in fundamental knowledge of the process-structure-property connections make plastic processing difficult. This can challenge the market for high-temperature plastic.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022-2028 |
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Base Year |
2022 |
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Forecast Period |
2023-2028 |
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CAGR |
7.2% |
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Segments Covered |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
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Market Leaders Profiled |
Bayer AG., Daicel Chemical Industries Ltd., The Dow Chemical Company, Rhodia Engineering Plastics, Eastman Chemical Company, BASF SE,Celanese Corporation, Arkema SA,Evonik Industries AG,Tosoh Corporation,3M Company |
By Type:
By End-User:
By end-user, the electrical & electronics segment is predicted to grow at the highest rate.
The High-Temperature Plastics Report includes the segmentation of regions:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Due to strong demand, Asia Pacific dominates the high-temperature plastic market. The region's growth is fueled by rising demand from manufacturing centers in Asia-Pacific. Major nations such as Japan, China, Taiwan, South Korea, and others have made significant progress in the electrical and electronic sectors, accelerating demand for high-temperature plastics in the area. After the Asia Pacific, high-temperature plastics are mostly consumed in North America and Europe. The expansion of the automotive and aerospace industries in these areas increases the need for high-temperature plastics. The market is growing because of increased government expenditure in the aerospace sector in North America. These investments result in the creation of new HTP products or applications.
The worldwide COVID-19 epidemic has wreaked havoc on the global economy. The illness has affected millions of individuals all around the world. The market for high-temperature plastic was severely impacted under these circumstances. Manufacturing of numerous medical devices has been dramatically expanded in covid – 19 circumstances to meet the growing demand. The need for high-temperature plastic has risen in order to produce these devices. Fluoropolymers are in high demand for PPE kits because of their dielectric, lubricity, and biocompatibility characteristics. In addition, demand for polyphenyl sulfone resin for producing circuit components in respiratory equipment such as ventilators, humidifiers, and anesthetic machines increased dramatically during covid – 19. For building reusable face shields, polyphenyl sulfone films and filaments for additive manufacturing were used. Nonetheless, the value of this one-of-a-kind substance in helping to preserve, enhance, or even maintain life has become even more apparent throughout the medical device supply chain. Most industries have come to a halt, import-export is impossible, and the rest of the globe is trying to get out of this mess. The COVID-19 pandemic had a negative impact on the high-temperature plastic business. The industrial plants were forced to close due to global travel bans and shutdowns. As a result, certain sectors' need for high-temperature plastics has decreased.
The major players covered in the high-temperature plastic market report are
Frequently Asked Questions
The high-temperature plastics was valued at $ 92.06 billion in 2021 and are predicted to reach $ 123.78 billion in 2026, with a CAGR of 6.1%.
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