High-Performance Thermoplastic Composites Market to offer a healthy CAGR of 4.1% during 2019-24
February 18, 2020
High-Performance Thermoplastic Composites Market Overview:
HPTP composites have already earned a largely unheralded but a significant place in the family of thermoplastic composites. The market for high-performance thermoplastic composites is extrapolated to grow at a higher pace (5.7% vs 4.1% CAGR, 2019-2024) than the other thermoplastic composites (standard thermoplastic composites and engineering thermoplastic composites), and is catching the attention of the market players.
Report Overview:
This new report from Stratview Research analyses the High-Performance Thermoplastic Composites Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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High-Performance Thermoplastic Composites Market Segment Insights:
End-Use Industry Type: automotive, electrical & electronics, industrial and others
HPTP composites are used in a large number of industries including automotive, electrical & electronics, industrial, aerospace & defense, medical, consumer goods, etc. The mix of different HPTP composites varies from industry to industry, which is based on the requirements of strength/performance, cost of thermoplastic composites, the ability to manufacture in desired cycle time, etc.
Aerospace & defense, a relatively small market as compared to the automotive, is likely to be exhibit its dominance in the market in years to come. Several factors driving the demand for HPTP composites are increasing commercial aircraft production to support rising air passenger traffic, the development of next-generation aircraft with greater thermoplastics content, and increased focus towards thermoplastic composites over thermoset composites.
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https://www.stratviewresearch.com/toc/542/high-performance-thermoplastic-composites-market.html
Type: Polyphenylene sulfide (PPS), aromatic ketones (PAEK family) and others
The report deeply studies the different HPTPs and their usage in different end-use industries. Polyphenylene sulfide (PPS), aromatic ketones (PAEK family), polyarylsulfone (PASU family), polyetherimide (PEI), and high-performance polyamide (HPPA) are the major HPTPs considered in the report. Polyimide (PI) and liquid crystal polymer (LCP) occupy the lion’s share in the others’ category. HPPA holds the leading position today and will remain the most dominant resin type among all HPTPs in years to come. HPPA offer various advantages such as lower cost, higher voltage, and retention of dielectric properties at elevated temperatures, which make it the preferred choice for a wide range of applications such as automotive engine coolant pumps, impellers, and valves, especially where engineering thermoplastic nylons prove to be unsuitable.
A highly/moderately/fragment consolidated Market
The supply chain of this market is complex and comprises several nodes including raw material suppliers, compounders, distributors, part fabricators, tier players, and OEMs. The key players in the high-performance thermoplastic composites market are Solvay S.A.; BASF SE; SABIC; Toray Industries, Inc.; Evonik Industries AG; Arkema S.A.; and Victrex plc.
Region: Asia-Pacific is expected to have the highest growth
In terms of regions, Asia-Pacific is likely to remain the largest demand generator of high-performance thermoplastics in the foreseen future. Furthermore, the growth in the demand for high-performance thermoplastic composites in the region would remain attractive in the coming years. Large population base coupled with increasing disposable income and rapid urbanization is creating a huge demand for high-performance thermoplastics filled with fibers. China is estimated to remain the largest demand generator not only in the region, but also in the world. High automobile production, an incessant manufacturing shift from the developed economies to China, especially in E&E and consumer goods industry, and ongoing efforts for the development of aircraft indigenously are the key factors driving the demand for these thermoplastic composites in the country.
India, Japan, and South Korea are the other countries generating sizeable demand in the region. All the major players are eyeing the Indian market, mulling to invest in the country to tap the future growth potential. Reforming government policies coupled with several initiatives including Make in India with an aim to boost the manufacturing sector is alluring the market players to increasingly participate in the market. Huge customer base, low-cost manufacturing, ease in availability of necessary inputs, and growing disposable income assure a robust indigenous demand for high-performance thermoplastic composites in the country.
North America and Europe are the next two big markets for the thermoplastic composites. These regions have been the pioneer for most of the industries; however, maturing GDP growth coupled with an incessant shift of manufacturing facilities towards Asia is causing a low growth in the demand for thermoplastics including high-performance thermoplastic composites in these regions. The USA is the largest market for high-performance thermoplastic composites in North America, whereas Germany, France, the UK, and Russia are the major markets in Europe.
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