High Performance Polymers Market
High Performance Polymers Market for Automotive (Product: Polyphenylene Sulfide [PPS], Polyphthalamide [PPA], Polyamide [PA] PA46 & PA4T, Liquid Crystal Polymers [LCPs], Polyether Ether Ketone [PEEK], Polyaryletherketone [PAEK], Polyvinylidene Fluoride [PVDF], and Others; and Application: Powertrain & Engine, Electrical Components, Interior & Exterior Furnishings, Under-the-Hood Components, Structural Components, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
Reopening of Auto Plants Fuels Demand for Polymers Post COVID-19
Companies in the high performance polymers market for automotive such as Braskem— a Brazilian petrochemical company headquartered in São Paulo, procured an advisory from the U.S. Department of Homeland Security to remain fully-operational during the COVID-19 pandemic. However, shutdowns and stay-at-home orders walloped the automotive and construction markets, forcing chemical makers to restructure their investments and debt planning strategies.
Auto plants are opening back up, and orders for engineering polymers are being received. Such trends are creating business opportunities for manufacturers in the high performance polymers market for automotive. Manufacturers are expecting a full recovery by the second and third quarter when more revenue pumps into the market. Car industry in China, Europe, and the U.S. has been worst hit in terms of plastics.
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High Performance Polymers Help Comply with India’s New Emission Standards
India is considered as the fifth largest hub for automotive manufacturing in the world. However, Indian automotive OEMs face the challenge of meeting upcoming CO2 and tailpipe emissions standards, owing to trends of technology transformation. There is a growing demand for engine downsizing, light weighting, and reducing fuel consumption. Hence, companies in the high performance polymers market for automotive are stepping in to advance in emission reduction technologies.
Manufacturers in the high performance polymers market for automotive are increasing the availability of materials that offer chemical and heat resistance, whilst keeping dimensional stability intact. High performance plastic materials in automobiles are being developed with multilayer structures in fuel lines.
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Personal Mobility Revolution Creates Business Opportunities for Manufacturers
Advanced plastics and polymer composites serve as an integral part of automotive designs. In order to enhance the safety and performance of vehicles, manufacturers in the high performance polymers market for automotive are increasing the availability of polymer composites that facilitate fuel economy and improve the vehicle’s battery technology. For instance, Automotive Plastics— an automotive team of the American Chemistry Council’s Plastic Division, is tapping into incremental opportunities in the personal mobility revolution, which involves proliferation of artificial intelligence (AI) and self-driving cars in the market landscape.
The unparalleled combination of properties in polymer materials are transforming vehicle interiors. Companies in the high performance polymers market for automotive are boosting their output capacities to modernize the transport infrastructure.
Ferroelectric Polymers Gain Prominence in Acoustic Speaker Systems
Connected and electric vehicles are storming the high performance polymers market for automotive. French auto giant Renault is offering state-of-the-art aesthetics in vehicle interiors with the help of high performance polymers. Manufacturers are developing polymers that are easy to wash, resistant to dirt, and pleasant from a sensory point of view.
Electroactive polymers, liquid-crystal polymers, and ferroelectric polymers are coming into the limelight. Ferroelectric polymers are being used to design acoustic speaker systems in vehicles to leverage its sound output and reduce their weight. Stakeholders in the high performance polymers market for automotive are increasing their R&D to innovate in ferroelectric polymers meant for high-end vehicles, since traditional speakers weigh up to several dozen kilograms.
Reliable Polymers Witness Demand in Applications of Chassis, Powertrain
The high performance polymers market for automotive is slated to register a robust CAGR of ~8% during the assessment period. Manufacturers such as Victrex— a British supplier of high performance polymer solutions is providing reliable hardware solutions for autonomous and connected vehicles. Companies are becoming aware that faster, hotter, and reliable electrical solutions are the need of the hour.
The trend of safe and clean cars is bringing a significant change in the high performance polymers market for automotive. In order to improve the mobility experience, manufacturers are increasing the availability for reliable polymers that adhere to city regulations and meet consumer expectations. Manufacturers are increasing efforts to meet the demanding applications of chassis, powertrain, transmission, and engine.
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As lockdowns around the world are starting to ease, surging automotive sales are anticipated to boost market growth. High performance polymers are being developed into multilayer structures to support fuel delivery systems. The high performance polymers market for automotive is expected to cross the value mark of US$ 3.7 Bn by 2030. However, innovations in polymers for combustion engines are still at a nascent stage and facing stiff competition from metals. Hence, companies should focus on innovations with ferroelectric polymers for acoustic sound systems in vehicles to diversify their production and revenue streams. Autonomy, connectivity, and circularity are becoming key focus points for manufacturers leveraging revenue opportunities in the personal mobility revolution.
High Performance Polymers Market for Automotive: Overview
- High performance polymer is a group of polymer materials known to retain their desirable mechanical, thermal, and chemical properties when subjected to harsh environments such as high temperature, high pressure, and corrosive chemicals
- High performance polymers are primarily used as replacement for traditional materials, including polymers and metal or alloys that are employed in automotive components
- Replacement of metal components with lighter polymers offers a positive change in the working of powertrain systems and engines. Powertrain systems and engine components made of high performance polymers help increase the power output of engines and reduce high levels of noise, vibration, and harshness (NVH).
- According to Transparency Market Research’s latest research report on the global high performance polymers market for automotive for the historical year 2019 and the forecast period 2020 to 2030, rise in usage of high performance polymers in the powertrain & engine application segment to lower the vehicle weight is a key factor that is expected to boost the global high performance polymers market during the forecast period
- In terms of revenue, the global high performance polymers market for automotive is estimated to cross US$ 3.7 Bn by 2030, expanding at a CAGR of ~8% during the forecast period
Rise in Usage of High Performance Polymers for Automotive Weight Reduction: A Key Driver
- Currently, high performance polymers are extensively employed in automotive applications in the manufacture of body parts, interiors, exteriors, dashboards, speedometer dials, steering wheels, lock handles, armrests, powertrain & engine components, under-the-hood components, and structural components
- Polymers provide up to 80% weight savings compared to metals. They are frequently used in components such as seal rings, thrust washers, bushings, bearings, shift fork wear pads, and gears. These weight savings, low coefficient of friction and low wear rate, and excellent corrosion resistance can improve the overall efficiency of the transmission system.
- Companies are focusing on innovative applications in engines and powertrains. OEMs are tapping the properties of a new generation of high performance polymers to replace metal and some standard polymers in engines, transmissions, and other powertrain components with high performance polymers that withstand harsh end-use conditions and heat.
Increase in Applications of Polyphthalamide
- Based on product, the polyphthalamide (PPA) segment dominated the global high performance polymers market for automotive in 2019. PPA is extensively utilized in various vehicle parts such as powertrain, tubing systems, air intake systems, brake systems, hoses, fuel line connectors, and engine coolant components. Significant demand for PPA to reduce the weight of automobiles is projected to drive the demand for this type of polymer across the world during the forecast period.
- PPS is also anticipated to be a vital segment of the global high performance polymers market for automotive during the forecast period. It is employed extensively in the automotive industry. This is boosting its demand in major automotive manufacturing countries such as Germany, China, India, and Japan.
- The PEEK segment is projected to expand at a significant rate, as PEEK is primarily used in the manufacture of various interior and exterior components in automotive and aerospace industries. Highly valued properties of PEEK are its high heat resistance, lightweight, high dimensional stability, and high chemical resistance.
Rise in Applications of High Performance Polymers in Powertrain & Engine
- In terms of volume, the powertrain & engine application segment is estimated to dominate the high performance polymers market for automotive during the forecast period. Usage of high performance polymer in powertrains helps reduce the weight of powertrain systems, and lighter powertrain systems help enhance fuel efficiency. These powertrain systems provide an opportunity to reduce vehicle weight and increase fuel efficiency, while reducing the total cost of systems at the same time.
- Replacement of metal components with lighter polymers offers a positive change in how powertrain systems are designed and produced. This is possible, in part, due to the properties offered by high performance polymers.
- Government-mandated CAFE standards for the automotive industry are expected to lead to a decrease in the global carbon footprint. They are also likely to help conserve natural resources, and fuel the demand for compact and light vehicles. Increase in demand for compact, high-power output engines can also result in high levels of noise, vibration, and harshness (NVH). The usage of high performance polymers in designing components can help resolve these issues.
High Performance Polymers Market for Automotive: Competition Landscape
- Detailed profiles of providers of high performance polymers have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global high performance polymers market for automotive are
- BASF SE
- Mitsui Chemicals, Inc.
- Solvay S.A.
- Nemours, Inc.
- Evonik Industries AG
- Kuraray Co., Ltd.
- Celanese Corporation
- DAIKIN INDUSTRIES, Ltd.
High Performance Polymers Market for Automotive: Key Developments
- Key providers of high performance polymers, such as BASF SE, Dow, SABIC, 3M, and Mitsui Chemicals, Inc., are focusing on capacity expansion and product innovation of high performance polymers. Other key developments in the global high performance polymers market for automotive are highlighted below:
- In March 2020, BASF SE announced that it had developed the world’s first reusable plastic spin-on oil filter module for cars in partnership with Hengst. Blue.on is the sustainable alternative to conventional spin-on modules made from metal. It does not need to be replaced during filter change.
- In the global high performance polymers market for automotive report, we have discussed individual strategies, followed by company profiles of providers of high performance polymers. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global high performance polymers market for automotive.
High Performance Polymers Market for Automotive – Scope of the Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global high performance polymers market for automotive in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the global high performance polymers market for automotive so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global high performance polymers market for automotive would expand during the forecast period of 2020 to 2030.
The report offers intricate dynamics about different aspects of the global high performance polymers market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global high performance polymers market for automotive during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global high performance polymers market for automotive and estimates statistics related to growth of the market in terms of value (US$ Mn) and volume (tons).
This study covers a detailed segmentation of the global high performance polymers market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global high performance polymers market, wherein various developments, expansions, and winning strategies practiced and implemented by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on High Performance Polymers Market for Automotive
The report provides detailed information about the global high performance polymers market for automotive on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global high performance polymers market, so as to help them design successful strategies and make target-driven decisions.
- Which application segment of the global high performance polymers market for automotive would emerge as major revenue generator during the forecast period?
- How are key market players successfully earning revenues out of advantages of high performance polymers?
- What would be the Y-o-Y growth trend of the global high performance polymers market for automotive between 2020 and 2030?
- What are the winning imperatives of leading players operating in the global high performance polymers market?
- Which product segment is expected to create lucrative opportunities for the global high performance polymers market for automotive during the forecast period?
- Which are leading companies operating in the global high performance polymers market?
Research Methodology – High Performance Polymers Market for Automotive
The research methodology adopted by analysts for compiling the global high performance polymers market for automotive report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global high performance polymers market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global high performance polymers market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global high performance polymers market.
High Performance Polymers Market for Automotive – Segmentation
TMR’s research study assesses the global high performance polymers market for automotive in terms of product, application, and region. This report presents extensive market dynamics and trends associated with different segments of the market, and how they are influencing growth prospects for the global high performance polymers market.