The global polyphthalamide market size is estimated to expand at a CAGR of 6.50% during the forecast period, 2021–2028. The growth of the market is attributed to rising demand from various end-users industries and high usage of polyphthalamide in sporting goods, gas pipes, LED headlights, fuel lines, wire casings, fuel modules, coolant pumps, toothbrush and hairbrush bristles, electrical insulation, pump wear rings, metal replacement, bushings, and bearing pads.
Polyphthalamide is a thermoplastic synthetic resin with major building blocks as isophthalic acid-based amides, dicarboxylic acid, terephthalic acid, or combination. Aromatic diacids in the polymer backbone increases rigidity, moisture absorption characteristics, melting point, chemical resistance, glass transition temperature, and heat stability.
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Polyphthalamide is used to replace metal in various applications such as electrical, automotive, aerospace, and others. Admirable characteristics of polyphthalamide are perfect for use in a chemical environment or in high temperature condition. Polyphthalamide is favorable as it is recyclable and can be recovered as energy efficiently due to processing conditions. It is highly used in various end-users industries for different purposes.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing substitution of polyphthalamide with metal in different applications is projected to boost the market.
- Control of carbon dioxide emission of light commercial vehicles and passenger cars by automotive industry is estimated to spur the market in the coming years.
- Rapid growth of the automotive industry is the main factor fueling the market during the forecast period.
- High price of raw materials is expected to hinder the market growth.
- Strict environmental rules and regulations by government act as major challenge that can hamper the market in the coming years.
- Availability of substitutes in the market can act as key factor that can impede the polyphthalamide market.
- Rising usage of bio-based polyphthalamide is anticipated to create significant opportunities for the market players.
Market Segment Insights:
The glass fiber-filled segment is projected to account for a large market share
Based on types, the polyphthalamide market is segregated into glass fiber-filled, unfilled, carbon fiber-filled, and mineral-filled. The glass fiber-filled segment is expected to constitute a key share of the market during the forecast period owing to variety of applications in electronics, personal care, automotive, and machinery and easy availability of fiberglass. Glass fiber-filled is highly accepted by the end-users industries due to its high strength and stiffness, good chemical and electrical properties, high heat resistance over broad temperature range, low moisture absorption, and creep resistance. Many automotive industries demand for glass fiber-filled which helps to maintain structural integrity, physical characteristics and improve the strength.
The automotive segment is projected to hold a major market share
On the basis of applications, the polyphthalamide market is fragmented into consumer and personal care, electronics and electrical, automotive, industrial equipment and apparatus, and other end-users industries. The automotive segment is expected to represent a key share of the market in the coming years due to high usage of polyphthalamide materials for manufacturing different cooling and heating system components (including turbocharger air coolers, oil filter housings, and thermostat housings), fuel system components (including flanges, fuel rails, and fuel line connectors), structural parts, and others.
AThe sia Pacific is anticipated to dominate the market
In terms of regions, the polyphthalamide market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to expand at a high CAGR during the forecast period. The regional market growth can be attributed to increasing automotive manufacturing and sales from various countries including Thailand, India, China, Indonesia, and Malaysia. China is largest automotive manufacturer in the world. On the other hand, the market of North America is expected to exhibit a rapid growth rate in the coming years due to consumer preference for high-quality fuel efficient automobiles.
Compititive Landscape
Key players competing in the polyphthalamide market include Akro Plastics GMBH, Evonik Industries AG, Solvay S.A., SABIC, Polyone Corporation, Eurotec, Akrema S.A., DUPONT EI DE Nemours & Co., and Propolymers. Some of these players are focusing on several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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