The High-Performance Plastics Market size was USD 25.03 billion in 2023 and is expected to Reach USD 50.35 billion by 2031 and grow at a CAGR of 9.1 % over the forecast period of 2024-2031.
High-performance plastics are those that perform better than traditional or engineering plastics. As engineers and designers seek ways to increase the performance, durability, and cost-effectiveness of their products, the use of these plastics is increasing. These plastics have several advantages over traditional materials like metals and ceramics, such as lighter weight, reduced corrosion, higher strength-to-weight ratio, better dimensional stability, and greater resistance to chemicals and solvents.
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PEEK is utilized in aviation parts including gears, bearings, and seals. It's also employed in medical devices like hip and knee replacements. Circuit boards, connections, and other electrical components all employ PI. It's also utilized in high-performance fabrics like flame-resistant apparel. Pipes and valves are examples of PSU applications in food processing equipment. It's also found in solar cells and other electronics. PPS is found in a variety of automobile components, including fuel lines and brake rotors. It is also utilized in bearings and gears that operate at high temperatures. Fluoropolymers are employed in many different applications, such as gaskets, seals, and coatings. In addition, they are employed in cookware and other food-contact applications.
KEY DRIVERS
specific characteristics of high-performance plastics
High-performance plastics are resistant to a wide range of chemicals, including acids, bases, and solvents, and also, it can withstand high temperatures without melting or deforming. This makes them excellent for applications involving heat, such as those found in the automotive, aerospace, and electrical industries. They also find applications that involve strong chemicals, such as those used in the chemical industry and oil and gas industries. Because of their strength and durability, they are suitable for applications involving stress or strain, such as those found in the construction, and sporting goods sectors.
RESTRAIN
The high cost of these plastics
The limited availability of raw materials
A shift in the manufacturing sector from developed to emerging countries, high commodity prices, and rising production expenses all impede the global market. Changes in demand and supply of raw materials may have a negative impact on market growth. Furthermore, the industry has a hurdle due to a lack of appropriate testing standards. Industries struggle with quality control and quality assessment due to a lack of standard test procedures, with many relying on internal testing methods bad products may impede growth.
OPPORTUNITY
Rising applications of high-performance plastics in end-user
The transportation application segment is one of the fastest-growing segments in the high-performance plastics market. High-performance plastics are employed in a variety of transportation applications, including aerospace, marine, and automotive. These plastics are engineered to satisfy the special requirements of the transportation industry, such as high strength, thinness, chemical resistance, and other qualities. Medical applications are a fast-expanding field. Drug delivery systems, Medical implants, medical gadgets, and surgical equipment are just a few of the applications for high-performance polymers. The strength, durability, and resistance to harsh temperatures, chemicals, and radiation, high-performance plastics provide a number of features in medical applications.
CHALLENGES
Difficult to Sustainable Plastic
The potential for environmental impact
New and innovative processing technologies are continually being developed to improve the productivity and effectiveness of high-performance plastics production. When exposed to heat, sunlight, or other environmental variables, some high-performance polymers may contain dangerous compounds that leach into the environment. These substances have the potential to contaminate soil and water, as well as pose a health risk to both humans and animals. Because high-performance plastics are not biodegradable films, they can take hundreds of years to disintegrate in landfills. This can result in an increase in plastic garbage in the environment, which can contaminate waterways and kill wildlife.
The increase in gas prices is due to rising oil prices, which are affecting resin prices, especially thermoplastic polymer prices, which are likely to grow. Russia is a major exporter of petroleum. The longer sanctions against Russia remain in place, and the fewer oil supplies from Russia we accept, the more likely it is that raw material prices will spike, leading to a shortage of plastics and polymers.
Due to its dependency on natural gas and local oil, the United States can readily ramp up polyethylene manufacturing, keeping the price low. However, the U.S. does not have the capacity to boost polypropylene production by the same amount, therefore price hikes for this material are likely.
A recession could lead to a decrease in demand for high-performance plastics, as businesses and consumers may be less willing to spend money on non-essential items. Resin prices vary with the prices of raw materials prices. According to the Board of Governors of the Federal Reserve System, plastics production increased 4.2% in the third quarter of 2021 and 5.9% year on year. Plastic anticipates a 12.3% growth in retail sales (excluding food services) over the previous year. This should result in higher plastics shipments in Q4 2021, as well as higher manufacturing and finished goods stocks in Q1 2022. Plastic anticipates a 3.3% rise in plastics manufacturing this year over 2020.
By Type
Fluoropolymers
HPPA
Polyphenylene Sulphide (PPS)
Sulfone Polymers (SP)
Liquid Crystal Polymers (LCP)
Polyamides
By End Use Industry
Industrial
Electrical and Electronics
Transportation
Medical
Others
REGIONAL ANALYSIS
Asia Pacific is the world's largest market for high-performance plastics. The increasing growth of the region's automotive and electrical & electronics sectors is driving the expansion of this industry. China is the Asia Pacific region's fastest-growing economy, followed by India and Japan. Because of their chemical resistance, high-performance polymers are employed in the manufacture of microprocessors and semiconductors.
The European high-performance plastics market is the second largest. The growing demand for these polymers in the medical, aerospace, and automotive industries is propelling the market forward. The automotive industry has the most significant investors and innovative car-producing enterprises in this region, delivering best-in-class engine efficiency. Germany is Europe's largest high-performance plastics market, followed by France and the United Kingdom.
North America is the third largest market for high-performance polymers. The growing use of these plastics in the automotive, medical, and aerospace industries. Because the United States has the highest per capita income in the region, transportation manufacturers are under pressure to produce high-quality products. The United States is the largest market in North America for high-performance plastics, followed by Canada and Mexico.
Latin America and the Middle East & African region is emerging market. Saudi Arabia is the largest market for high-performance plastics in the Middle East & Africa region, followed by South Africa and Egypt. Brazil is the largest market for high-performance plastics in Latin America, followed by Mexico and Argentina.
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REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Evonik Industries, BASF SE, Dow, Kraton Corporation, DuPont., Ryan Plastics Ltd., RTP Company, Solvay, Eurostar Engineering Plastics, LyondellBasell Industries Holdings B.V., Kuraray Co. Ltd, Toray Industries, Kureha Corporation, SABIC, PolyOne Corporation, other key players are mentioned in the final report.
BASF SE- In 2023 Avient and BASF are collaborating to provide colorful Ultrason® to the worldwide high-performance plastic market. Colorant ChromaticsTM high-temperature color formulation knowledge for color concentrates and pre-colored solutions is paired with BASF's Ultrason® polyarylethersulfones (PAES) as a high-quality base polymer in the colored grades.
Evonik Industries- In 2023 Evonik Industries presents intelligent technology for artificial teeth based on a high-performance plastic known as VESTAKEEP® PEEK used in a wide range of medical applications.
In 2023 Evonik made an investment in the British firm Interface Polymers Ltd. Polarfin® additives from this company make it easier to process plastics like polypropylene or polyethylene mixes.
| Report Attributes | Details |
| Market Size in 2023 | US$ 25.03 Billion |
| Market Size by 2031 | US$ 50.35 Billion |
| CAGR | CAGR of 9.1% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Fluoropolymers, HPPA, Polyphenylene Sulphide (PPS), Sulfone Polymers (SP), Liquid Crystal Polymers (LCP) and Polyamides) • By End Use Industry (Industrial, Electrical and Electronics, Transportation, Medical, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Evonik Industries, BASF SE, Dow, Kraton Corporation, DuPont., Ryan Plastics Ltd., RTP Company, Solvay, Eurostar Engineering Plastics, LyondellBasell Industries Holdings B.V., Kuraray Co. Ltd, Toray Industries, Kureha Corporation, SABIC, PolyOne Corporation |
| Key Drivers | • Specific characteristics of high-performance plastics |
| Market Opportunity | • Rising applications of high-performance plastics in end-user |
Ans. USD 50.35 billion is the projected High Performance Plastics Market size of the market by 2031.
Ans. The CAGR of the High Performance Plastics Market over the forecast period is 9.1%
Ans. USD 25.03 billion is the projected value in 2023 for High Performance Plastics Market.
Ans. Challenges are difficulty to recycle High Performance Plastics and the potential for the environmental impact of plastics
Ans. Opportunities are rising applications of high-performance plastics in end-user
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Ukraine- Russia War
4.2 Impact of Ongoing Recession
4.3. Introduction
4.3.1 Impact on major economies
4.3.1.1 US
4.3.1.2 Canada
4.3.1.3 Germany
4.3.1.4 France
4.3.1.5 United Kingdom
4.3.1.6 China
4.3.1.7 Japan
4.3.1.8 South Korea
4.3.1.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. High Performance Plastics Market Segmentation, By Type
8.1 Fluoropolymers
8.2 HPPA
8.3 Polyphenylene Sulphide (PPS)
8.4 Sulfone Polymers (SP)
8.5 Liquid Crystal Polymers (LCP)
8.6 Polyamides
9. High Performance Plastics Market Segmentation, By Application
9.1 Industrial
9.2 Electrical and Electronics
9.3 Transportation
9.4 Medical
9.5 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America High Performance Plastics Market by Country
10.2.2 North America High Performance Plastics Market by Type
10.2.3 North America High Performance Plastics Market by Application
10.2.4 USA
10.2.4.1 USA High Performance Plastics Market by Type
10.2.4.2 USA High Performance Plastics Market by Application
10.2.5 Canada
10.2.5.1 Canada High Performance Plastics Market by Type
10.2.5.2 Canada High Performance Plastics Market by Application
10.2.6 Mexico
10.2.6.1 Mexico High Performance Plastics Market by Type
10.2.6.2 Mexico High Performance Plastics Market by Application
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe High Performance Plastics Market by Country
10.3.1.2 Eastern Europe High Performance Plastics Market by Type
10.3.1.3 Eastern Europe High Performance Plastics Market by Application
10.3.1.4 Poland
10.3.1.4.1 Poland High Performance Plastics Market by Type
10.3.1.4.2 Poland High Performance Plastics Market by Application
10.3.1.5 Romania
10.3.1.5.1 Romania High Performance Plastics Market by Type
10.3.1.5.2 Romania High Performance Plastics Market by Application
10.3.1.6 Hungary
10.3.1.6.1 Hungary High Performance Plastics Market by Type
10.3.1.6.2 Hungary High Performance Plastics Market by Application
10.3.1.7 Turkey
10.3.1.7.1 Turkey High Performance Plastics Market by Type
10.3.1.7.2 Turkey High Performance Plastics Market by Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe High Performance Plastics Market by Type
10.3.1.8.2 Rest of Eastern Europe High Performance Plastics Market by Application
10.3.2 Western Europe
10.3.2.1 Western Europe High Performance Plastics Market by Country
10.3.2.2 Western Europe High Performance Plastics Market by Type
10.3.2.3 Western Europe High Performance Plastics Market by Application
10.3.2.4 Germany
10.3.2.4.1 Germany High Performance Plastics Market by Type
10.3.2.4.2 Germany High Performance Plastics Market by Application
10.3.2.5 France
10.3.2.5.1 France High Performance Plastics Market by Type
10.3.2.5.2 France High Performance Plastics Market by Application
10.3.2.6 UK
10.3.2.6.1 UK High Performance Plastics Market by Type
10.3.2.6.2 UK High Performance Plastics Market by Application
10.3.2.7 Italy
10.3.2.7.1 Italy High Performance Plastics Market by Type
10.3.2.7.2 Italy High Performance Plastics Market by Application
10.3.2.8 Spain
10.3.2.8.1 Spain High Performance Plastics Market by Type
10.3.2.8.2 Spain High Performance Plastics Market by Application
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands High Performance Plastics Market by Type
10.3.2.9.2 Netherlands High Performance Plastics Market by Application
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland High Performance Plastics Market by Type
10.3.2.10.2 Switzerland High Performance Plastics Market by Application
10.3.2.11 Austria
10.3.2.11.1 Austria High Performance Plastics Market by Type
10.3.2.11.2 Austria High Performance Plastics Market by Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe High Performance Plastics Market by Type
10.3.2.12.2 Rest of Western Europe High Performance Plastics Market by Application
10.4 Asia-Pacific
10.4.1 Asia Pacific High Performance Plastics Market by Country
10.4.2 Asia Pacific High Performance Plastics Market by Type
10.4.3 Asia Pacific High Performance Plastics Market by Application
10.4.4 China
10.4.4.1 China High Performance Plastics Market by Type
10.4.4.2 China High Performance Plastics Market by Application
10.4.5 India
10.4.5.1 India High Performance Plastics Market by Type
10.4.5.2 India High Performance Plastics Market by Application
10.4.6 Japan
10.4.6.1 Japan High Performance Plastics Market by Type
10.4.6.2 Japan High Performance Plastics Market by Application
10.4.7 South Korea
10.4.7.1 South Korea High Performance Plastics Market by Type
10.4.7.2 South Korea High Performance Plastics Market by Application
10.4.8 Vietnam
10.4.8.1 Vietnam High Performance Plastics Market by Type
10.4.8.2 Vietnam High Performance Plastics Market by Application
10.4.9 Singapore
10.4.9.1 Singapore High Performance Plastics Market by Type
10.4.9.2 Singapore High Performance Plastics Market by Application
10.4.10 Australia
10.4.10.1 Australia High Performance Plastics Market by Type
10.4.10.2 Australia High Performance Plastics Market by Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific High Performance Plastics Market by Type
10.4.11.2 Rest of Asia-Pacific High Performance Plastics Market by Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East High Performance Plastics Market by Country
10.5.1.2 Middle East High Performance Plastics Market by Type
10.5.1.3 Middle East High Performance Plastics Market by Application
10.5.1.4 UAE
10.5.1.4.1 UAE High Performance Plastics Market by Type
10.5.1.4.2 UAE High Performance Plastics Market by Application
10.5.1.5 Egypt
10.5.1.5.1 Egypt High Performance Plastics Market by Type
10.5.1.5.2 Egypt High Performance Plastics Market by Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia High Performance Plastics Market by Type
10.5.1.6.2 Saudi Arabia High Performance Plastics Market by Application
10.5.1.7 Qatar
10.5.1.7.1 Qatar High Performance Plastics Market by Type
10.5.1.7.2 Qatar High Performance Plastics Market by Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East High Performance Plastics Market by Type
10.5.1.8.2 Rest of Middle East High Performance Plastics Market by Application
10.5.2 Africa
10.5.2.1 Africa High Performance Plastics Market by Country
10.5.2.2 Africa High Performance Plastics Market by Type
10.5.2.3 Africa High Performance Plastics Market by Application
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria High Performance Plastics Market by Type
10.5.2.4.2 Nigeria High Performance Plastics Market by Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa High Performance Plastics Market by Type
10.5.2.5.2 South Africa High Performance Plastics Market by Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa High Performance Plastics Market by Type
10.5.2.6.2 Rest of Africa High Performance Plastics Market by Application
10.6 Latin America
10.6.1 Latin America High Performance Plastics Market by Country
10.6.2 Latin America High Performance Plastics Market by Type
10.6.3 Latin America High Performance Plastics Market by Application
10.6.4 Brazil
10.6.4.1 Brazil High Performance Plastics Market by Type
10.6.4.2 Brazil Africa High Performance Plastics Market by Application
10.6.5 Argentina
10.6.5.1 Argentina High Performance Plastics Market by Type
10.6.5.2 Argentina High Performance Plastics Market by Application
10.6.6 Colombia
10.6.6.1 Colombia High Performance Plastics Market by Type
10.6.6.2 Colombia High Performance Plastics Market by Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America High Performance Plastics Market by Type
10.6.7.2 Rest of Latin America High Performance Plastics Market by Application
11 Company Profile
11.1 SABIC
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Dow
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 LyondellBasell Industries Holdings B.V.
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 KRATON CORPORATION
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 DuPont
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Eurostar Engineering Plastics
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 KURARAY CO. LTD.
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Toray Industries
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Kureha Corporation
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 PolyOne Corporation
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
11.11 BASF SE
11.11.1 Company Overview
11.11.2 Financials
11.11.3 Product/Services Offered
11.11.4 SWOT Analysis
11.11.5 The SNS View
11.12 Solvay
11.12.1 Company Overview
11.12.2 Financials
11.12.3 Product/Services Offered
11.12.4 SWOT Analysis
11.12.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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