Polymer Alloys Market: Overview
- Polymer alloys is a subclass of polymer blends, in which two different polymers are mixed together to form an alloy, in order to provide controlled morphology and thus, increasing specific performance characteristics of the resulting polymer alloy
- Prominently used processing methods for conversion of polymer alloys into products include extrusion, injection molding, compression molding, and thermoforming
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Key Drivers of Polymer Alloys Market
- An increase in purchasing power of people has been observed with the rise in per capita income. This, in turn, is likely to rise the demand for vehicles across the globe. For instance, in 2017, the global sale of vehicles increased by 3.07%. Increase in sale of vehicles is likely to boost the demand for the lucrative polymer alloys market.
- Increase in number of regulations on use of fossil fuel based vehicles coupled with a rise in number of initiatives to boost the sale of electric vehicles is anticipated to fuel the demand for polymer alloys market in the near future
- For instance, in June 2017, at the Clean Energy Ministerial, a global forum, launched a campaign EV30@30 at its 8th annual CEM meeting, to accelerate the deployment of electric vehicles across the globe. The campaign is aimed at boosting the sales of electric vehicles, by 30%, by 2030. This, in turn, is expected to increase manufacturing of electric vehicles in the next few years. Manufacturing of various car parts requires polymer alloys, which is projected to boost the market.
- Polymer alloys are extensively employed in automotive sector for manufacturing of various car parts, due to their properties such as lightweight, higher durability, and chemical stability.
Polycarbonate -based Alloys to Offer Attractive Opportunities
- The polymer alloys market is majorly dominated by polycarbonate -based alloys because of their properties including increased corrosion resistance, dielectric stability, and higher thermal resistance than Poly(p-phenylene oxide) or poly(p-phenylene ether) based alloys
- PC-based alloys are extensively utilized in various end-use applications including electronic components and construction materials, owing to their physical and mechanical properties such as increased chemical stability, thermal stability, and dimensional stability
Automotive Segment to Offer Attractive Opportunities
- Based on application, the global polymer alloys market can be segmented into oil & gas, automotive, electrical & electronics, and others (packaging, industrial, home appliances, etc.)
- Polymers account for a share of around 20% by weight among the materials, commonly used in passenger vehicles. Furthermore, with the evolution of new-age models and the increasing focus on production of vehicles, is likely to increase the production of polymers, as compared to traditional plastics.
- This, in turn, has led to the increase in demand for production of polymer alloys, as these offer improved characteristics over other polymers.
- Rise in demand for automotive coupled with the expansion of automotive sector across the globe, is likely to drive the polymer alloys market in the automotive sector
- In automotive sector, polymer alloys are used to produce automotive hose covering, propane gas hose, rubber plate, and manufacturing of plastic bumpers
- Polycarbonate and acrylonitrile-butadiene-styrene based polymer alloy is used in the manufacture of interior and exterior car components, as it offers a number of mechanical properties that make it attractive for use in automotive parts
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Rise in Regulation on Use of Polymers to Hamper Polymer Alloys Market
- A recent report from UN Environment and World Resources Institute (WRI) found that at least 127 countries have adopted some form of legislation to regulate plastic bags as of July 2018, owing to the increase in land and water pollution. Furthermore, plastic pollution impacts water, marine, food chain, and public health. All these factors are likely to decrease the production and consumption of plastic in the near future, thereby hampering the global polymer alloys market.
- High cost of processing polymer alloys is expected to restrain the market in the near future
Asia Pacific to Hold Prominent Share in Global Polymer Alloys Market
- Based on region, the global polymer alloys market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa
- Asia Pacific is likely to constitute major share of the global market during the forecast period due to rise in per capita income of consumers in the region
- Rise in per capita income of the people has led to increase in spending power of the people across the region. This is likely to boost the demand for advanced automotive across the globe. Furthermore, rise in FDI investment in automotive industry in developing economies of Asia Pacific is likely to fuel the demand for polymer alloys in the region during the forecast period.
- North America and Europe are primarily engaged in the development of new technologies for the manufacture of polymer alloys. Middle East & Africa, being a developing region, relies on imports from Europe & North America to cater to the demand for polymer alloys in the region.
Key Players Operating in the Polymer Alloys Market:
The polymer alloys market is highly fragmented with several major manufacturers as well as a few emerging manufacturers operating across the globe.
Key players operating in the polymer alloys market include:
- Covestro AG
- BASF SE
- JSR Corporation
- The Dow Chemical Company
- Schulman Inc.
- Mitsubishi Engineering-Plastics Corporation
- Asahi Kasei Corporation
- Daicel Polymer Ltd
- The Lubrizol Corporation
- Ovation Polymers Inc.
- Essentra plc
- Gujarat Petrosynthese Limited
- RTP Company
- Denka Company Limited
- TEIJIN LIMITED.
- ZEON Corporation
Global Polymer Alloys Film Market: Research Scope
Global Polymer Alloys Film Market, by Type
- PC-based Alloys
- PPO/PPE-based Alloys
Global Polymer Alloys Film Market, by End-use
- Oil & gas
- Electrical & Electronics
- Others (packaging, industrial, home appliances, etc.)
Global Polymer Alloys Film Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
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