Fior Markets launched a study titled “Polyphthalamide Market by Type (Plain Unreinforced, Glass Fiber Reinforced, Carbon Fiber Reinforced, Others), End User Industry, Regions”,and Global Forecast 2019-2026.
The global polyphthalamide market is expected to grow from USD 1,376.64 Million in 2018 to USD 2,353.81 Million by 2026, at a CAGR of 6.93% during the forecast period from 2019-2026. Global increase in demand for the automobiles as well as increasing replacement of metal parts with polyphthalamide parts are propelling the growth of the market.
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The carbon fiber reinforced segment is anticipated to grow at a CAGR of 9.03% in 2019-2026
The type segment is divided into plain unreinforced plain, glass fiber reinforced, carbon fiber reinforced, mineral-filled, and hybrid. Glass fiber reinforced polyphthalamide materials are extensively used in the automotive, electronics, personal care industry. Thus the glass fiber reinforced polyphthalamide segment led the global market with 530.28 million revenue in 2018. Due to their superior high stiffness and creep resistance, the carbon fiber reinforcedpolyphthalamide are being increasingly utilized in the automotive and electronics applications. Consequently, the carbon fiber reinforcedpolyphthalamide segment is projected to grow at the fastest CAGR of 9.03% over the forecast period.
The automotive segment had a market value of USD 580.39 million in 2018
The end user industry is segmented into automotive, electrical & electronics, industrial equipment & apparatus, consumer &personal care, and others. Automotive industry is witnessing a huge demand for the lightweight, fuel efficient cars. Thus, in order to achieve this goal automotive industry is increasingly emphasizing on replacing the metal parts with the polyphthalamide materials. Hence the automotive segment emrged as the leader in the global demand for the polyphthalamide with USD 580.39 million revenue in 2018.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Due to unabated demand for the automobiles as well as increasing use of polyphthalamide in the well-established electric and electronics industry, led Asia Pacific region to emerge as the leading market for the polyphthalamide with USD 637.66 million revenue in 2018.
Even though the factors such as growing demand from the automotive industry, increasing utilization in the electrical & electronics industry as well as increasing substitution metal parts with polyphthalamide are driving the global polyphthalamide market. The strict environmental regulations on the manufacturing process and high raw material cost are anticipated to dampen the market growth over the forecast period.
Major players in the global polyphthalamide market areEMS Chemie Holding AG, BASF SE, DUPONT EI DE Nemours & Co., Solvay S.A., Evonik Industries AG, Arkema S.A., Polyone Corporation, SABIC, Eurotec, Propolymers Inc., Akro Plastics GMBH, Celanese Corporation, Kuraray, DSM, Ecomass, Eurotec A.S., PlastiComp, Inc., Pro Polymers Inc., and Lanxess, and among others.
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