Global Heat Resistant Polymers Market Expected To Reach XX Million With the CAGR of XX% By 2025
According to a new report published by Reports Monitor titled, “Heat Resistant Polymers Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Heat Resistant Polymers Marketwas valued at $XX million in 2015, and is projected to reach $XX million by 2025, growing at a CAGR of 2.4% from 2017 to 2025. Asia-Pacific is expected to be the fastest growing geography in both volume and value terms, and is predicted to continue leading the market through 2025.
Heat resistant polymers are once those are stable at high temperatures and significantly resistant to catching fire. Since 1950s structures which are thermally stable have been synthesized that could exist even above 300°C in air. Some of the polymers naturally are present with intrinsic resistance, whereas others as build by combining with fir-resistant additives and fillers. Aramid and polybenzimidazoles are two of the most outstanding high performance organic materials as they could stand by extreme temperatures. Aerospace technology was the first ever stimulus for this field of study that demands for light weight, suitable formability and processibility to substitute high weight metals. These polymers are flexible, that easily replaces metals and other ceramic materials. Heat resistant polymers can be used many industries such as petro-chemical, aerospace, automotive, electrical, defence and logistics industries. In addition, it plays a crucial role in congested places like construction of small spaces in skyscrapers, cruise ships, aircraft cabins.
Huge investment by key players pertaining to stringent government regulations for low volatile organic chemical emission and rising demand for heat resistant polymers in various industrial sector to have safety measures and precautions is fuelling the growth of the market in near future. Moreover, replacement of conventional materials such as metals in the automotive industry by lightweight plastics, technological development in aerospace and automotive sector in order to manufacture fuel efficient vehicle and rise in R&D spending offers the flourishment to market growth. Nevertheless, colossal pricing of the material might come across as threat to market hindering the further growth. Rising demand in emerging economies and distinctive features of at resistant polymers gives larger favourable circumstances to penetrate the market. Processing and handling difficult of these polymers is the major challenge faced by the industry.
Key Findings and Scope:
• Need for heat resistant polymer market globally is anticipated to increase and estimated to grow at a CAGR of 6.2% by 2025.
• Based on type, providing broad range of application in fabrication of plastics, coating, electrical devices & medical fluropolymer segment holded biggest share of the market in 2016.
• Based on application, transportation accounted more than 50% of the total heat resistant polymer and is estimated to record highest growth rate throughout the forecast period.
• In electrical & electronic industry where wire and cables are required in large quantities possessing features like high tensile strength, flammability, solvent resistance and electrical resistivity heat resistant polymers are in demand.
• Various strategies are deployed by major key players such as new product launch with innovation, constantly performed R&D programmes and technological collaborations in order to put forth strong foothold within the market.
Major key players profiled in the report are: Arkema SA, BASF SE, Daikin Industries Ltd., E. I. du Pont de Nemours and Company, Evonik Industries AG, Kuraray Co. Ltd., Polyone Corporation, Solvay S.A., The DOW Chemical Company and Victrex PLC.
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