Heat resistant polymers are polymers that are immune to degradation at high temperatures. These are light in weight and versatile. Heat resistant polymers have replaced metals and other ceramics. These polymers can withstand high temperature.
Innovation in science and technology in heat resistant polymers has helped meet the requirement of various end-user industries such as aerospace, wherein heat resistant polymers have less weight as compared to that of heavy weight metals. Heat resistant polymers are used in a wide range of applications, especially in the construction of small closed spaces such as skyscrapers, boats, and airplane cabins. Some heat resistant polymers exhibit the property of intrinsic resistance to decomposition, while other polymers need to be modified by incorporating fire resistant additives and fillers. The National Institute of Standards and Technology, the University of Massachusetts Amherst, and the Federal Aviation Administration are centers where long term research program on the development of heat resistant polymers takes place.
Based on type, the heat resistant polymers market can be segmented into fluoropolymers, polyimides, polyphenylene sulfide, polybenzimidazole, polyether ether ketone (PEEK), and others. Polyphenylene sulfide is anticipated to be a rapidly growing segment of the heat resistant polymers market during the forecast period. Growth in the polyphenylene sulfide segment is ascribed to its temperature resistant property. Polyphenylene sulfide offers excellent chemical resistance, superior electrical properties, good dimensional stability, and flame retardant. Presence of these properties is anticipated to boost the demand for polyphenylene sulfide during the forecast period. In terms of end-user, the heat resistant polymers market can be classified into transportation, electronics & electrical, and others. Transportation is estimated to be a rapidly growing segment of the market during the forecast period owing to the increase in the usage of heat resistant polymers in various automotive components in the transportation industry. However, processing cost of heat resistant polymers is very high, which is expected to hamper the growth of market during the forecast period.
Based on region, the heat resistant polymers market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is estimated to account for the key share of the heat resistant polymers market during the forecast period followed by North America and Europe. Asia Pacific is projected to be the fastest growing region owing to the increasing demand for these polymers in various end-user industries, especially transportation. China, India, and Japan are the leading countries in terms of demand in Asia Pacific. In North America the U.S. is anticipated to account for significant share of the heat resistant polymers market due to the expansion in the transportation segment. Europe also held key share of the heat resistant polymers market owing to growth in electronics & electrical segment during the forecast period. The heat resistant polymers market in Middle East & Africa and Latin America is projected to expand substantially during the next few years.
Companies are adopting aggressive marketing tactics to expand their market share. They are also shifting their production facilities to emerging economies in Asia Pacific and Latin America due to the easy availability of land, cheap labor, and governmental subsidies in these regions. Some of the key manufacturers in heat resistant polymers are Arkema SA, Du Pont, Dongyue Group Ltd, DIC Corporation, Honeywell International Inc., Parkway Products Inc., Schulman AG, Daikin Industries, Ltd., RTP Company, Inc., Kuraray Co., Ltd. and Ensinger GmbH.
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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
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- Latin America
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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?
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7. Which government regulations might challenge the status of key regional markets?
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