Specialty materials are required to perform under extreme conditions of temperature, pressure, and chemical exposure in today’s technologically advanced and ever-changing industrial environment. A specialty material that is used for coating and other corrosion protection applications is corrosion resistant plastic. Corrosion resistant plastics are a type of specialty plastics that are utilized in numerous applications where corrosion protection of the metal surfaces from chemical, moisture, and other corrosive agents is of utmost priority. Corrosion resistant plastic products are witnessing significant demand across the globe due to their high flexibility of application in different conditions. Extensive testing is carried before the selection of corrosion resistant plastic to choose the right material for a specific application. The corrosion resistant material needs to pass all the necessary tests to qualify for the end-use application.
Some commonly utilized corrosion resistant plastics, which hold up well in most harsh conditions and are employed across the globe in various applications, are PVDF (polyvinylidene difluoride), PEEK (Polyether ether ketone), and PVC (Poly vinyl Chloride). Several industries such as food processing, medical, oil & gas, and chemical utilize corrosion resistant plastics to protect their machinery from corrosion due to exposure to corrosive agents. These industries witness a high demand for chemically inert materials to mitigate losses from corrosion to their plant equipment. PVDF resins are employed in the renewable energies, power, and chemical processing industries attributed by their excellent resistance to harsh chemicals, temperature, pressure, and effects of nuclear radiation. PVDF is also extensively used in the pharmaceutical, medical, semiconductor, and food & beverage industries due to its easy availability and purity in multitude of forms and types.
PVDF is also a widely applied corrosion resistant plastic in the plating, mining, and metal processing industries. Excellent resistant to hot acids in a wide concentration range is a major property of PVDF plastic. Automotive and architectural markets also utilize PVDF plastic attributed to its good UV degradation and chemical resistance even under extreme weather conditions. PEEK (Polyether ether ketone) is a highly popular corrosion resistant plastic employed in numerous industries due to its superior chemical inertness and tensile strength. Excellent chemical and corrosion resistance properties of PEEK make it one of the highly preferred corrosion resistant plastics for orthopedic surgery and medical implants around the globe. PEEK exhibits excellent thermal and mechanical properties which makes them creep resistant at high temperatures. PEEK plastic also has a very low hydrolysis resistance, flammability, and radiation resistance, which makes PEEK plastic a preferred choice in the automotive, aerospace, chemical, and food processing industries. It is also utilized for load bearing and wear applications such as valve pump gears, seats, and compressor valve plates.
Another type of corrosion resistant plastic used extensively in multiple applications is PVC. PVC plastic is widely employed in underground water piping, municipal, and electrical applications. PVC plastic is the third most extensively produced plastic in the world and utilized extensively in construction and water pipelines, as compared to its metallic counterparts such as iron, copper, and wood. Physical and chemical composition of PVC plastic can be altered or changed by the usage of chemical additives and plasticizers. PVC plastic is employed extensively in making door and window frames, outdoor signs, medical tubing, electric cable insulation, flooring, sporting equipment, green houses, and outdoor/indoor synthetic playgrounds due to its low cost, chemical inertness, wide availability, and corrosion resistant properties.
Another type of corrosion resistant plastic made from PVC is CPVC resin. It is produced by the chlorination of PVC resin to make pipes. The physical properties of CPVC plastic resembles with many properties of PVC plastic, including excellent corrosion resistance and low conductivity at room temperatures. The extra chlorine content in CPVC plastic also makes it more corrosion resistant, as compared to PVC plastic. CPVC plastic is widely employed in making hot chlorine pipes, water pipes, high-pressure electric cable sheaths, and sulfuric acid pipes.
Rise in usage of corrosion resistant materials in automotive, power, healthcare, chemical, oil & gas, and construction industries is anticipated to boost the global corrosion resistant plastics market. Materials made from corrosion resistant plastics are replacing several traditional metals and raw material substrates in the vehicle fabrication, refining piping, power, and chemical processing industries attributed by their low cost and high flexibility in applications. Asia Pacific accounted for a significant share of the corrosion resistant plastics market followed by Europe and North America. Availability of cheaper labor, cost-effective manufacturing, raw materials, and rise in indigenous production of corrosion resistant plastics are expected to drive the market in Asia Pacific.
Key global players producing corrosion resistant plastics are DuPont, PPG, Akzo Nobel, Curbell Plastics, Aetna Plastic, and Victrex.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.