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 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).
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.
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.
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.
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.
Persistence Market Research analyzes the global polyphthalamide market in a new publication titled “Polyphthalamide Market: Global Industry Analysis and Forecast, 2016–2024”. The core objective of the report is to present insights on various advancements and dynamics impacting the global polyphthalamide market. To provide a better understanding of the market, the report also includes the analysis of regional value chain, drivers, restrains, opportunities, and regional trends, which are expected to influence the current market scenario and future status of the global polyphthalamide market over the forecast period (2016–2024).
To understand and assess market opportunities and trends, the global polyphthalamide market report is categorically split into different sections based on market segmentation – by product type, by end-use industry, and by region. The report starts with the market overview and provides a market definition and analysis about region-wise value chain and pricing, drivers, restraints, and opportunities in the global polyphthalamide market. The sections that follow include global polyphthalamide market analysis – by product type, end-use industry, and regional/country level analysis. All the above sections evaluate the market on the basis of various factors affecting the market. Each section discusses the qualitative and quantitative aspects of the global polyphthalamide market. To give a brief idea about revenue opportunities for the product type, end-use industry, and region/country-wise segments, the report also provides volume (KT) data, absolute $ opportunity, and total incremental opportunity for each segment over the forecast period (2016-2024).
Global polyphthalamide market segmentation
By Product Type
By End-use Industry
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view of market players operating in the global market. Detailed profiles of manufacturers are also included within the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the global polyphthalamide market.
For market data analysis, we have considered 2015 as the base year, with market numbers estimated for 2016 and forecast made for the period 2017–2024. To calculate market size, the report considers the weighted average price of polyphthalamide, based on different product grades such as glass fiber filled, carbon fiber filled, mineral fiber filled, and unfilled, across key geographies on a regional basis. The forecast assesses the total revenue as well as volume (KT) of the global polyphthalamide market; for deducing the market size, sales of polyphthalamide compounded with filler material have been considered. In order to provide an accurate forecast, we have started by sizing up the current market, which forms the basis of how the global polyphthalamide market is expected to develop in the future. Critical market data, including the base number and segment splits, has been devised through in-depth secondary research. This data is then triangulated on the basis of different verticals, considering both supply side and demand side drivers and other dynamics of the various regional markets, along with primary interviews of manufacturers and industry experts operating in the global polyphthalamide market.
Given the ever-fluctuating nature of the global economy, we not only conduct forecasts in terms of CAGR, but also analyze the market based on key parameters such as year-on-year (Y-o-Y) growth rate to understand the market predictability and identify the right opportunities across the global polyphthalamide market. We have also analyzed the different segments of the global polyphthalamide market in terms of basis point share (BPS) to understand the individual segments’ relative contribution to market growth. This detailed level of information is important for identifying key trends governing the global polyphthalamide market.
Another key feature of this report is the analysis of all segments in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as identify potential resources from a sales and delivery perspective in the polyphthalamide market. In addition to this, for assessing the key market segments in terms of growth, market potential, and adoption of polyphthalamide across the concerned regions, Persistence Market Research has developed a market attractiveness index, which will help the report audiences to identify real market opportunities in the global polyphthalamide market.
The adoption of light weight vehicle technology has increased across the globe. Polyphthalamide is the substitute for metal. Metals are heavier and are no more preferred for use in the automotive sector. Globally, polyphthalamide can be seen as a substitute for metal replacement in the automotive sector, which will help reduce the weight of vehicles. Germany is ahead in using polyphthalamide in its automotive sector. As polyphthalamide is high heat resistant, it is used in the manufacturing of housing parts particularly in the Asia Pacific region.