According to Fact.MR, the global high performance polymers market for automotive is slated to expand at a robust CAGR of approximately 8% from 2021-2031. Rapid advancements in automotive technology have opened up a plethora of opportunities for major stakeholders within the sector. Increasing trend of incorporating lightweight material to enhance vehicle performance has boded well for high performance polymers for the automotive industry.
Key expansion dynamics at play here include the ever-widening trend of personal mobility and rapid artificial intelligence penetration. This new report by Fact.MR tracks global sales of high performance polymers for automotive in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the chemicals & materials domain in general, and demand for high performance polymers for automotive in particular.
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Key Market Segments Covered
- High Performance Polyphenylene Sulfide (PPS) for Automotive
- High Performance Polyphthalamide (PPA) for Automotive
- High Performance Polyamide (PA) PA46 &PA4T for Automotive
- High Performance Liquid Crystal Polymers (LCP) for Automotive
- High Performance Polyether Ether Ketone (PEEK) for Automotive
- High Performance Polyaryletherketone (PAEK) for Automotive
- High Performance Polyvinylidene Fluoride (PVDF) for Automotive
- High Performance Ferroelectric Polymers for Automotive
- Others (including Polyether Imide and Fluoropolymer)
- High Performance Polymers for Powertrains & Engines
- High Performance Polymers for Electrical Components
- High Performance Polymers for Interior & Exterior Furnishings
- High Performance Polymers for Under-the-Hood Components
- High Performance Polymers for Structural Components
- Others (including Tires)
- North America (US and Canada)
- Europe (Germany, France, UK, Italy, Spain, Russia & CIS and Rest of Europe)
- Asia Pacific (China, Japan, India, ASEAN and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (GCC, South Africa and Rest of MEA)
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Key players emphasize capacity and product portfolio expansion to cater to numerous application areas. Some notable development includes:
- In May 2021, BASF SE supplied its Ultramid® A3WG10 polyamide to support MAHLE’s plastic transmission support bracket across automobiles to enhance energy efficiency by 50%
- Likewise, Saudi Basic Industries Corp. (SABIC) announced its plans to continue developing thermoplastic-based solutions and harnessing its expertise to help optimize EV performance, especially with respect to its plastic-intensive battery pack
*This list is indicative- full details about prominent manufacturers of high-performance polymers for automotive is available upon request.
Why is Polyphthalamide (PPA) Usage Anticipated to Soar?
By product, demand for polyphthalamide (PPA) is expected to reach new heights, amid its extensive applications for a wide range of purposes, including manufacturing various structural parts, fuel system components, cooling and heating system components and other parts.
Adoption is likely to increase due to its superior dimensional stability, high chemical resistance, excellent mechanical strength & stiffness, high creep & fatigue resistance and high deflection temperature properties.
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Will Demand for High Performance Polymers for Powertrains & Engines Surge?
By application, the powertrain & engine segment is expected to tower over other domains. Using high performance polymers for powertrain & engine manufacturing helps reduce overall weight, making the automotive much lighter and more efficient.
Replacing conventional metal components with lightweight polymers helps induce a positive change by significantly reducing manufacturing costs, as well as achieving reduction in the global carbon footprint.
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