Polymer Blends & Alloys Market: Overview
- Polymer blends belong to the material class similar to metal alloys, in that two polymers are mixed in order to create the new material with several physical properties. Polymer blends and alloys are used in various applications owing to their unique mechanical and physical properties such as strength, light weight, heat resistance, chemical stability, durability, thermal stability, dimensional stability, and recyclability. These properties cannot be achieved by other materials. Demand for polymer blends and alloys has been rising since the last few years owing to their cost effectiveness. Furthermore, and polymer blends and alloys are versatile substitutes to traditional materials. These properties of polymer blends and alloys are anticipated to boost the global polymer blends & alloys market in the near future.
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Rise in Demand for Polymer Blends and Alloys in Automotive Industry to Drive Polymer Blends & Alloys Market
- Polymer blends and alloys are versatile and cost effective alternatives to traditional materials such as glass, wood, and metal. Producers in various regions are willing to spend extra capital on products that guarantee them efficiency and quality. Rise in orders to replace the traditional glasses and metals with lightweight materials such as polymer alloys and blends is expected to be a key driver of the polymer blends & alloys market.
- Polymer blends and alloys are widely used in automotive applications for the production of engineering plastic products such as pump impellers, bearings, valves, gears, and electrical components, as they provide an exceptional balance of toughness, durability, and impact resistance over a broad range of temperatures. Furthermore, compounds of molybdenum sulfide with HDPE/nylon alloys are being primarily used in bearing applications.
- Mixtures of polymers such as rubber are being employed in the automotive industry in the production of tires in order to improve the impact resistance and ductility through craze formation. Increase in production of automotive in various developing as well as developed countries across the globe is anticipated to boost the global polymer blends & alloys market during the forecast period.
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Polycarbonate Type Segment to Offer Lucrative Opportunities
- Based on type, the global polymer blends & alloys market can be segmented into polycarbonate-based blends & alloys, polyphenylene ether-based blends & alloys, and other polymer blends
- The polycarbonate-based blends & alloys segment held major share of the global polymer blends & alloys market in 2019, owing to its properties such as dielectric stability, thermal resistance, and corrosion resistance. Polycarbonate-based blends and alloys are primarily employed in commercial applications such as construction materials and electronic components, as they are lightweight and immune to corrosion.
Automotive Application Segment to Constitute Major Share of Market
- Based on application, the polymer blends & alloys market can be divided into automotive, electrical & electronics, consumer goods, and others
- The automotive segment is expected to dominate the polymer blends & alloys market during the forecast period. This can be ascribed to wide usage of polymer blends and alloys in the manufacture of propane gas hose, automotive hose covering, rubber plate, and plastic bumpers.
- Increase in adoption of polymer blends and alloys in the manufacture of electric vehicles and rise in production of electric vehicles across the globe are factors projected to further boost the demand for polymer blends and alloys. Furthermore, growth in usage of acrylonitrile-butadiene-styrene based and polycarbonate polymer alloys in the manufacture of several exterior and interior automotive components is anticipated to propel the demand for polymer blends and alloys during the forecast period.
Asia Pacific to Account for Significant Share of Global Polymer Blends and Alloys Market
- In terms of region, the global polymer blends and alloys market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global market in 2019, owing to the presence of key manufacturers as well as growth in trade activities from China. Expansion of the manufacturing industry and the automotive sector in Asia Pacific is estimated to boost the polymer blends & alloys market in the region in the near future.
- North America is also projected to hold key share of the global polymer blends & alloys market during the forecast period
Key Players in Market
Manufacturers of polymer blends and alloys are highly consolidated in Asia Pacific. Trading activities from Asia Pacific countries, such as China, have been rising at a rapid pace since the last few years. Prominent players operating in the market are investing in technological developments and new product launches in order to maintain their leading position.
Key players operating in the global polymer blends & alloys market include:
- E. I. Du Pont De Nemours and Company.
- Covestro AG (Bayer Materialscience AG)
- BASF SE
- JSR Corporation
- A. Schulman, Inc.
- Mitsubishi Engineering Plastics Corporation
- Saudi Basic Industries Corporation (SABIC)
- Daicel Polymer Ltd.
- Asahi Kasei Chemical Corporation
- CHI MEI Corporation
Global Polymer Blends and Alloys Market: Research Scope
Global Polymer Blends and Alloys Market, by Type
- Polycarbonate-based Blends & Alloys
- Polyphenylene ether-based Blends & Alloys
- Other Polymer Blends
Global Polymer Blends and Alloys Market, by Application
- Electrical & Electronics
- Consumer Goods
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