Global Market Study on Polyphthalamide: Carbon Fiber Filled Product Type Segment Forecast to Witness Relatively High Growth Rates Through 2024
Polyphthalamide Market Segmented By Glass Fiber Filled, Carbon Fiber Filled, Mineral Fiber Filled, Unfilled Product in Automotive and Transportation, Electricals and Electronics, Industry Equipment, Consumer and Personal Care
Polyphthalamide (PPA) is a high heat resistant, semi-crystalline and partially aromatic polyamide. It has high dimensional stability, good chemical resistance, low moisture absorption and excellent mechanical properties. Due to these qualities PPA is ideal for use in high temperature conditions or in a chemical environment.
It is a subset of thermoplastic synthetic resins. ASTM D5336 defines polyphthalamide (PPA) as a polyamide in which the residues of purified terephthalic acid or isophthalic acid or a combination of the two comprise at least 55 molar percent of the dicarboxylic acid portion of the repeating structural units in the polymer chain.
The global polyphthalamide market is expected to increase at a value CAGR of 5.6% over the forecast period (2016–2024).
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- Solvay S.A.
- BASF SE
- Arkema Group
- EMS-CHEMIE HOLDING AG
- Evonik Industries
- E. I. du Pont de Nemours and Company
- Nagase America Corporation
- PlastiComp, Inc.
- Techmer Engineered Solutions, LLC
Factors boosting revenue growth of the global polyphthalamide market
High deflection and high transition temperature properties of polyphthalamide (PPA) are anticipated to surge its consumption in producing automotive body-parts, in turn, driving the overall market growth globally. Government regulations to decrease automotive emissions has led manufacturers to take measures for increasing overall fuel economy of vehicles.
Polyphthalamide, due to its superior characteristics, is found to have been increasing the working lifespan of components along with reduction in weight, leading to improved fuel efficiency. However, due to its higher production costs, PPA with filler material is largely being utilized for high-end applications, and is yet to become popular among the mass uses of the product.
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Global polyphthalamide market: Segment analysis and forecast
The global polyphthalamide market is segmented on the basis of product type, end use industry, and region. On the basis of product type, the global polyphthalamide market is segmented into glass fiber filled, carbon fiber filled, mineral fiber filled, and unfilled. Based on the end use industry, the global polyphthalamide market segments into automotive and transportation, electrical & electronics, industry equipment, consumer and personal care, and others. Key regions covered in the report include North America, Latin America, Europe, Middle East & Africa (MEA), and Asia Pacific.
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Global Polyphthalamide Market Analysis, By Product Type
Glass fiber filled segment is projected to account for 72.9% value share in the global polyphthalamide market by 2024 end, increasing at a CAGR of 5.7% over the forecast period. Glass fiber reinforced PPA resin exhibits high strength and stiffness, high heat resistance over a broad temperature range, good chemical and electrical properties, and low moisture absorption, due to which it is highly accepted in end-user industries.
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Global Polyphthalamide Market Analysis, By End-Use Industry
Among end-use industries, automotive & transportation segment dominated the global polyphthalamide market in 2015 and the segment is forecast to account for 48.3% market value share by the end of 2024. Increasing demand of PPA resins for the production of automobile body-parts, such as air induction systems, cooling and heating systems, charge air hoses, resonators, etc. is expected to fuel the growth of the global polyphthalamide market.
Consumption of polyphthalamide in the automotive & transportation segment is estimated to be pegged at 74 kilotons by the end of 2016. The growth of the segment is largely attributed to its growing use for reducing the weight of the vehicles, in turn increasing their fuel efficiency.
Global Polyphthalamide Market Analysis, By Region
From a regional perspective, Europe is estimated to represent 31.8% value shares in the global polyphthalamide market by 2016 end, and the market is expected to increase at a value CAGR of 5.5% over the forecast period. Sales revenue of polyphthalamide in North America is expected to reach US$ 456.2 Mn by the end of 2024, increasing at a CAGR of 4.6% over the forecast period. Market growth in Asia Pacific region is expected to remain high compared to the global average between 2016 and 2024.
Global Polyphthalamide Market: Key Players
Some of the key players reported in this study of the global polyphthalamide market include Solvay S.A., Evonik Industries, BASF SE, Arkema Group, EMS-CHEMIE HOLDING AG, E. I. du Pont de Nemours and Company, SABIC, Nagase America Corporation, PlastiComp Inc. and Techmer Engineered Solutions, LLC.
Global polyphthalamide market segmentation
|By Product Type||
|By End-use Industry||