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Heat Resistant Polymer Market Size
Heat Resistant Polymer Market will experience a dynamic growth between 2024 and 2032. The increasing investments in the aerospace, electronics, and automotive manufacturing sectors toward meeting stern VOC emissions standards is pushing the product demand. These sectors require materials capable of withstanding high temperatures and harsh environments. Heat resistant polymers offer superior thermal stability and mechanical properties. Moreover, with the rising focus on sustainability and energy efficiency, there is a shift towards the use of heat resistant polymers in lightweight and fuel-efficient components.
Heat Resistant Polymer Market Trends
There are advancements in polymer chemistry and manufacturing processes, that are leading to the development of new formulations with enhanced heat resistance, chemical resistance, and mechanical properties, expanding the application scope of heat resistant polymers. Further, stringent regulations related to fire safety and environmental sustainability are driving the demand for flame-retardant and eco-friendly heat resistant polymers, favoring the market growth.
The Russia-Ukraine war may disrupt the supply chains of raw materials required to produce heat resistant polymers, which are used in various industries. It could cause an increase in the prices of raw materials and energy, resulting in higher production costs and end-product prices. The situation might have a negative impact on the heat resistant polymer industry to some extent.
Heat Resistant Polymer Market Analysis
Fluoropolymers segment is expected to record substantial growth through 2023, backed by the demand from the electrical and electronics sector. The product is widely used due to properties such as dimensional stability and high chemical resistance. Its insulating property has driven application in jumper wires, computer wires, lead wires, and thermocouple wires. Such factors will increase product demand, favoring industry growth.
Polyphenylene sulphide segment is also expected to witness significant traction between 2024-2032, due to the superior qualities, including temperature resistance, chemical resistance, good electrical properties, flame retardancy, and high dimensional stability. These features make it indispensable in automotive applications.
Electrical and electronics application segment will generate notable revenues for the heat resistant polymer market over the forecast period due to widespread product use in connections, circuit boards, and motor brush cards. The emphasis on industrial automation, smart electronics, and autonomous vehicles will bolster the product incorporation to ensure safety and light weight.
Asia Pacific heat resistant polymer industry, led by South Korea, India, China, and Japan, is predicted to grow at decent pace through 2032, due to the growing electrical and electronics sector. The utilization of temperature-resistant plastics in mechanical engineering and electrical sectors, including flexible cables and medical tubing insulation, stimulates the regional industry growth.
Europe heat resistant polymer market, led by the UK, France, and Italy, is also expected to witness considerable expansion throughout 2024-2032, due to increased expenditure in the defense & aerospace sectors. Temperature-resistant plastics are employed by various aircraft manufacturers, such as Boeing and Airbus, to create complex and lightweight aircraft components, driving regional market expansion.
Heat Resistant Polymer Market Share
Global market is inclusive of companies such as:
- Evonik Industries
- Honeywell International
- PolyOne Corporation
- Daikin Industries
- Celanese Corporation
- Solvay S.A.
- BASF
- Du Pont
- DIC Corporation
Heat Resistant Polymer Industry News
- In August 2023, Borouge PLC and Borealis launched two new sustainable polymer products for the automotive industry, crafted from up to 70% recycled materials. These were the initial sustainable products created at Borouge’s compounding manufacturing plant in Shanghai, China, which acquired ISO 14067 certification for carbon footprint assessment.