The Heat Resistant Polymers Market is projected to grow from USD 12.03 Billion in 2016 to USD 16.67 Billion by 2021, at a CAGR of 6.7% from 2016 to 2021.
Transportation segment is one of the
fastest-growing segment of the global heat resistant polymers market.
The transportation end-use segment is
estimated to account for the largest share of the heat resistant polymers
market in 2016, and is projected to be the fastest-growing segment from 2016 to
2021. This growth is mainly attributed to the increasing use of heat resistant
polymers in various automotive components and increasing demand of automobiles
in Asia-Pacific and North America region.
Polyphenylene sulfide type is the
fastest-growing segment of the global heat resistant polymers market.
The polyphenylene sulfide segment is projected to be the fastest-growing type segment from 2016 to 2021. Polyphenylene sulfide is temperature resistant. In addition, it has superior properties as compared to other polymers, such as superior chemical resistance, flame retardancy, good electrical properties, and high dimensional stability. These properties are expected to boost the demand for polyphenylene sulfide in the automotive and electronics & electrical industries.
Asia-Pacific was the largest market
for heat resistant polymers in 2016.
Asia-Pacific was the largest market
for heat resistant polymers in 2016. This increased demand can be attributed to
the increasing demand from the transportation end-use industry, which accounts
for the largest share in the global market, and growing economies of China and
India.
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Solvay S.A. is one of the leading
manufacturers of heat resistant polymers, globally. The company is focused on
maintaining its position in the heat resistant polymers market by adopting
strategies such as acquisitions, expansions, and new product launches. For
instance, in October 2015, Solvay S.A. acquired EPIC Polymer (Germany)’s
long-fiber thermoplastics technology. This acquisition provided the
technologically advanced solutions to the specialty polymers division of the
company. In November 2014, the company introduced an enhanced version of its
Lavanta high-performance polyester (HPP) to produce light-emitting diodes
(LEDs) for televisions and backlight unit (BLU) applications. This product
development provides improved processability while maintaining high heat and
light stability.
Celanese Corporation is another key
player in the heat resistant polymers market and has a presence in several
regions across the globe. The company is focusing on acquisitions to strengthen
its market position. In October 2016, Celanese Corporation signed an
acquisition agreement with SO.F.TER Group (Italy), one of the world’s largest
thermoplastic compounders’ manufacturers. This acquisition helped the company
bring technical expertise, production, and compounding capabilities to its
customers by extending its footprint with industry leading products and
capabilities in Mexico, Brazil, Italy, and the U.S. In October 2014, Celanese
Corporation acquired Cool Polymers, Inc. (U.S.) to accelerate its growth in the
polymers market by enhancing its product portfolio and technical capabilities.
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