Polyphthalamide Market Estimated to Experience a Hike in Growth by 2027
SummaryPolyphthalamide Market Expected to Reach US$ 2.5 Bn by 2027. In terms of revenue, the global polyphthalamide market is anticipated to expand at a CAGR of ~ 8% from 2019 to 2027
- Author Name: Pranali
Polyphthalamide – Opening Up Unimagined Possibilities
High-temperature thermoplastics have emerged as a rapidly growing segment over the years, and continue to remain a ‘hot’ and ‘in-demand’ technology in a wide range of applications. Be it to enhance the lifespan of oil and gas assets, or a metal-replacement solution in the rapidly-expanding automotive industry, the applications of high-temperature thermoplastics, such as polyphthalamide, are becoming endless. With higher short- and long-term thermal stability, resistance to burning, chemical and radiation resistance, and superior mechanical properties, polyphthalamides have been garnering significant traction, due the fact that they can fulfill unique prerequisites for a wide range of applications.
Gauging the future opportunistic potential of the polyphthalamide market, Transparency Market Research (TMR), in its latest business intelligence, assesses how this high-temperature-resistant plastic is paving the way for unimagined possibilities in diverse fields. The study also turns the spotlight on riveting insights and in-depth analysis of the polyphthalamide market, which can arm stakeholders with the key facts and statistics of the industry, so as to make winning decisions.
History and Future Scope of Polyphthalamide
The commercialization of polyphthalamide (PPA) resin traces back to 1991, and since then, rapid technological advancements have improved the stiffness and creep & fatigue resistance properties of polyphthalamide. The emergence of enhanced resin production technology enabled the manufacturing of a wide range of polymers, including semi-crystalline and amorphous resin. The TMR research analysis indicates an upward trajectory for the sales of polyphthalamide, with its market anticipated to be valued at ~ US$ 1.3 Bn in 2018. As per the study estimates, the sales of polyphthalamide are highly likely to grow in 2019, and beyond, with the market projected to register ~ 2x growth between 2019 and 2027. Additionally, the number of companies vying for a considerable pie of the market is anticipated to pick up pace with each passing year.
Impact of Undercurrents on the Polyphthalamide Market
Lightweight Auto Components Craze Uplifting Gains
The automotive industry is swiftly replacing metal components with plastics to lessen overall vehicle body weight. In view of the growing traction for lightweight auto components, automakers are increasingly leveraging ways to squeeze higher revenues out of this far-reaching trend. This falls in line with the aromatic nature of polyphthalamide that has been driving its employment over other polyamide products for thermal management applications. With such favorable properties, polyphthalamides are emerging as a promising substitute to metals in the powertrain, by providing a range of benefits that include feature flexibility, weight reduction, and potential for cost reduction. Automakers are increasingly employing glass fiber reinforced polyphthalamide due to its versatile properties, for manufacturing vehicle parts, motor valves, and fuel line systems, thereby creating lucrative growth opportunities for market players. Furthermore, the rising demand for SUVs and electric vehicles is fueling the traction for under-the-bonnet parts and components that are made of polyphthalamide compounds.
Electrical & Electronics – Hotbed of Applications for PPA
The superior heat resistance and low electricity modulus benefits of polyphthalamide have been pacing up its application in the electronics industry. The ability of polyphthalamides to prevent reflectors from turning yellow due to heat over a period of time continues to create a bedrock of opportunities for stakeholders in this industry. In fact, leading electronics players, such as Philips, have been using PPA in their product lines. Additionally, the flame-retardant nature of polyphthalamide is also fueling its applications in connectors for printers and memory card bases. The lucrativeness of the electronics industry will remain high for polyphthalamide manufacturers, owing to the surging demand for electronic gadgets such as mobile phones and computers.
Laser-Sharp Focus on Capitalizing the ‘Bio-based’ Trend
The rising demand for bio-based resin with eco-friendly properties and biodegradable benefits is pushing the sales of polyphthalamide. Extensive applications of bio-based polymers in extreme conditions continue to uphold market gains. For instance, Evonik-engineered polyphthalamide, VESTAMID Htplus, delivers excellent results in high temperatures above 180 degree Celsius, and is being highly utilized in air ducts in the turbochargers of several vehicles to reduce the carbon footprint in the environment.
Banking on End-Use-specific Product Development & Modification
Several companies in the polyphthalamide market are focusing on the development of end-use-specific variants to appeal to a wide pool of consumers, and drive product sales. For instance, in May 2019, BASF
Corporation expanded its portfolio by introducing new the PPA Ultramid Advanced T2000 in Guangzhou, China. This launch is extensively focused on catering to the growing demand for flame-retardant connectors in the regional electrical and electronics industry.
Consolidating Position in Asia Pacific
Growth opportunities remain abound for polyphthalamide manufacturers in Asia Pacific, primarily driven by the high demand for PPA composites in proliferating automotive and electronic manufacturing industries. China is anticipated to remain the most lucrative country in the polyphthalamide market through to 2027, in line with the growing use of PPA in automotive components such as fuel pipe lines, motor bobbin parts, and coolant pipes. As per TMR, the market for polyphthalamide in China is envisaged to expand at an ~ 8% CAGR during the foreseeable period. Several market players are making strategic moves to consolidate their position in different countries across Asia Pacific. For instance, in October 2018, Celanese Corporation acquired India-based Next Polymers Ltd to strengthen its market position in Asia Pacific.
Polyphthalamide Market – Competitive Analysis
In October 2018, BASF SE launched a new polyphthalamide brand – Ultramid Advanced N – at the Fakuma Trade Fair in Germany, with the aim to expand its product range of partially aromatic polyamides for the PPA market, globally.
In November 2017, DowDuPont Inc. announced a capacity expansion of the company’s Belgium facility to meet the increased demand for high performance polyamide resin from diverse end-use industries over the past years.
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