High Temperature Thermoplastics Market

High-Temperature Thermoplastics Market Size-(2023-2028)

The High-temperature thermoplastics market size was valued at USD 16.45 billion in 2022 and is expected to reach USD 24.44 billion in 2028, with a CAGR of 8.77% over the forecast period. 

High-temperature thermoplastic resins are basically divided by a Continuous Use Temperature (CUT) or Relative Thermal Index (RTI) greater than 160 ° C. At high temperatures, plastics not only soften, but they can also start to thermally degrade. The actual maximum continuous use temperature depends on how you define “continuous” use. Time and load will affect the response, as will the exact structure of the polymer and any additives, modifiers, or enhancers that may be used. The choice of a high-temperature thermoplastic resin will often depend on weighing these advantages and limitations against the application, as well as the cost involved. A plastic that softens at a high temperature but begins to degrade at a lower temperature can only be considered for an application below the temperature at which it begins to degrade.

High-temperature thermoplastics are utilized in minimal amounts to add heat stability to the product. These thermoplastic materials are produced by a variety of advanced mixing techniques which are used to improve the structural and integrity properties of the materials. They also offer exceptional resistance and recyclability characteristics to the product. In addition, high-temperature thermoplastics offer various properties such as excellent flexibility, durable nature, and chemical resistance, which is why they are used in various end-use industries such as electricity and electronics, transport, industry, and medical, among others. High-performance thermoplastics are mainly used over standard and engineering plastics due to their superior mechanical properties, higher chemical composition, and higher thermal stability. Another peculiarity of high-temperature thermoplastics is their cost, which is on average 10 times higher than most universal plastics. It is not only the remarkable temperature capabilities of these polymers that have generated interest and led to a relatively high growth rate. In many applications, its chemical resistance, wear resistance, and other performance properties are even more preferred than heat resistance.

High-Temperature Thermoplastics Market Trends:

High-temperature thermoplastics are plastics that retain their physical properties at higher temperatures and exhibit thermal stability even in the long term. In addition, they have higher thermal deflection temperatures and glass transition temperatures. High-temperature thermoplastics are used for demanding applications in the automotive industry due to their valuable properties, such as high thermal resistance, dimensional stability, strength, and resistance to a variety of chemicals. In addition, these properties have led to the substitution of traditional materials such as metal and thermosets. The automotive sector is one of the largest markets for composite materials, and the industry is continually seeking innovative materials such as high-temperature thermoplastic to reduce vehicle weight and meet fuel efficiency and emissions targets of carbon. Therefore, due to the factors mentioned above, the application of high-temperature thermoplastics in the automotive industry is likely to dominate during the forecast period.

High-Temperature Thermoplastics Market Drivers:

High-temperature thermoplastics are widely used in electrical and electronic, medical, transportation, industrial, and other end-use industries due to their superior properties, such as recyclability and better high-temperature stability. The transportation end-use industry accounted for the largest market share, in terms of value and volume in 2019, followed by power and electronics, industrial, medical, and others. The transportation industry includes the aerospace and automotive industries. In the automotive industry, HTTs are used in transmission systems, fuel supply systems, heating and cooling systems, electrical and electronic systems, mechanical gears, air intake systems, etc.

High-Temperature Thermoplastics Restraints:

One of the limitations of high-temperature thermoplastics is the high production cost compared to standard and engineering plastics. Thermal oxidative degradation of a polymer begins at lower temperatures than thermal degradation. It is used in many industrial applications due to its ability to withstand extreme temperatures. New innovations and technological developments in high-temperature thermoplastics are emerging rapidly to produce cost-effective thermoplastics.

Opportunities in the High-Temperature Thermoplastics Market:

The high-temperature thermoplastic compounds have many opportunities because of their good retention of physical properties. It contains excellent electrical characteristics as well as dimensional stability at elevated temperatures. High-temperature thermoplastic resins also offer good chemical resistance than many other polymers.

Challenges in the High-Temperature Thermoplastics Market:

However, the high cost of high-temperature thermoplastics and the availability of low-cost alternative materials are important factors that are estimated to hamper the growth of the global market to some extent.

HIGH-TEMPERATURE THERMOPLASTICS MARKET REPORT COVERAGE:

High-Temperature Thermoplastics Market Segmentation:

Based on End-use Industry:

• Transportation

• Electrical & Electronics

• Industrial

• Medical

• Others

Based on Temperature Range:

• HTTs (Range 302˚F-449.6˚F)

• Extreme Temperature Thermoplastics (Range >449.6˚F)

Based on Resin Type:

• High-Temperature Fluoropolymers (High-Temperature FPs)

• High Performance Polyamide (HPPA)

• Polyphenylene Sulfide (PPS)

• Sulfone Polymers (SP)

• Liquid Crystal Polymers (LCP)

• Aromatic Ketone Polymers (AKP)

• Poly-imide (PI)

Regional Analysis:

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

The high-temperature thermoplastics market is segmented into five regions: Asia-Pacific, North America, Europe, Latin America, Middle East, and Africa. Among these, Asia-Pacific holds a significant market share due to the increasing adoption of lightweight materials in transportation, power and electronics, industry, medicine, and others. The transportation segment holds the largest share and is expected to continue to dominate the market due to the increasing demand for thermoplastics in the aerospace and aviation sectors during the forecast period. Hence, countries like China, Japan, and India are the major players in this market.

The North American region is experiencing significant growth due to the increased consumption of heat-resistant materials in electrical and electronic, medical, and other industries. Increased investment in end-use industries is expected to boost the region's market during the forecast period. The increasing consumption of lightweight materials in the transportation segment has led countries like the United States, Canada, and Mexico to achieve surprising growth in the market, as they provide extraordinary thermal stability and chemical resistance to the product.

The European market has also seen remarkable growth due to the implementation of new rules and regulations proposed by the government to keep up with lightweight and biocompatible resins in the industry. The market was boosted by the application of this rule in the transport, electricity, and electronics segments. Innovation and increasing technological advancements are expected to drive growth in countries like UK, Italy, Germany, and France during the forecast period.

It is estimated that the Latin American region will experience a recognized development in the market due to the increasing consumption of advanced polymers and the growing awareness of environmentally friendly resins in the industry. In addition, the Middle East and Africa is expected to experience further market growth due to the increasing demand for high-temperature polymers in end-use industries.

Recent Developments in the High-Temperature Thermoplastics Industry:

• In Oct 2019, petrochemicals giant SABIC announced the launch of XENOY™ HTX resin, a polyester-based, high-heat technology that can validate the production of light, impact-resistant, and high-performing structural automotive applications.

High-Temperature Thermoplastics Market Key Players:

1. BASF SE (Germany)
2. Celanese Corporation (U.S.)
3. Solvay (Belgium.)
4. Arkema (France)
5. Evonik Industries AG (Germany)
6. DowDuPont ( U.S.)
7. SABIC (Saudi Arabia)
8. Victrexplc (U.K)
9. Royal DSM  (the Netherlands)
10. TORAY INDUSTRIES