The market is projected to reach US$ 29.7 Billion in 2033. The increasing demand for these polymers in the automotive and aerospace industries is one of the prominent factors bolstering global market growth. According to the study conducted by Future Market Insights, the industry is estimated to be valued at US$ 17.1 Billion in 2023 and is projected to surge at a CAGR of 5.7% during the assessment period of 2023 to 2033.
| Attributes | Details |
|---|---|
| Market Size 2022 | US$ 16.1 Billion |
| Market Size 2023 | US$ 17.1 Billion |
| Market Size 2033 | US$ 29.7 Billion |
| Value CAGR (2023 to 2033) | 5.7% |
| Top 3 Countries Share (2023) | 49.2% |
Heat-resistant polymers are polymeric materials designed to operate continuously at temperatures up to and over 300° F or 148 °C without suffering any negative effects on their mechanical characteristics.
Depending on their composition, heat-resistant polymers may also comprise various other advantages, such as light material weight, corrosion resistant, chemical resistant, thermal and electrical resistivity, and other beneficial advantages. They can also be used in a variety of industrial applications due to their different characteristics.
Replacement of heavyweight materials like nickel and stainless steel with lightweight plastic materials by automotive and aerospace manufacturers pertaining to strict government norms for low VOC emissions has bolstered the market with a growth rate of 5.1% over the historical period of 2018 to 2022. High temperature polymers demonstrate high efficiency in heat-resistant applications and stimulate considerable interest due to their potential industrial applications.
Increasing demand for these polymers for the manufacturing of electrical insulators, gaskets, and coil boilers owing to their versatile and lightweight properties is projected to boost the industry with a significant CAGR of 5.7% during the forecast period. Rising demand for these polymers as raw materials in the chemical industry for the manufacturing of high-temperature fuel cells over various other materials is also expected to thrive the industry growth.
Robust growth of the electric and electronic industry is also expected to positively influence the growth of market. These polymers are widely employed in the manufacturing of circuit boards, connectors, and motor brush cards. Significant technological advancements in the electric and electronic industry, such as industrial automation, smart electronics, and self-driving cars will propel the industry’s growth.
High-temperature-resistant polymers are increasingly used in the manufacture of modern vehicle components such as gears, bearings, pistons, pumps, valves, fuel reservoirs, hot fuel systems, ignition modules, oil screens, and air manifolds. These polymers can be injected moulded, giving automotive manufacturers design flexibility, high production rates, cheaper labour costs, and a reduced need for finishing moulded parts.
Gears, bearings, and other automotive components made up of these polymers offer various advantageous characteristics, such as being corrosion-resistant, helping in reducing noise, and improve quality, and providing longer life. These benefits of polymers over various heavyweight materials attract manufacturers to switch to polymers over the costly and labour-intensive forging, casting, cutting, and grinding of metals.
Strong growth of the automotive industry along with significant technological advancements, such as increased integration of Machine Learning, Artificial Intelligence, and the growing trend of autonomous and electric vehicles are expected to drastically increase the use of polymer materials in automotive vehicles across the globe.
Various governments implementing strict regulations on automotive manufacturers to adopt plastic materials to make the vehicle lighter, which is expected to increase the use of polymer materials in the automotive industry. Thereby, the increasing usage of polymer materials along with supportive government policies are expected to drive the growth of the global market during the forecast period.
Polymers offer several advantages over various materials, such as aluminium and other traditional aerospace materials, such as lightweight, high strength, and durability. High-heat polymers can perform better than metals in lightweight aerospace components like brackets, gaskets, guides, seals, spacers, and washers as they have better insulation properties, thermal and mechanical stability, zero flammability, low outgassing in vacuum, and resistant to chemicals like jet fuel.
Heat resistant polymers such as polyetherimide, polyetheretherketone (PEEK) and polyphenylene sulphide are popular polymer materials used in the aerospace industry. These polymers have excellent mechanical properties, chemical resistant, and thermal stability, and flame retardancy. The increasing use of polymers in the aerospace industry for manufacturing several aerospace components for small military and large commercial aircraft, owing to these advantages is expected to propel the growth of the market during the forecast period.
East Asia is expected to lead the global market during the forecast period. China, being the key country leading the East Asian market, is expected to provide lucrative opportunities to market participants. Increasing demand for heat resistant polymers from automotive, aerospace, and electronics industries is expected to boost product sales in the country. Significant growth of the electrical and electronic industry, rising production and sales of semiconductors in China and Japan along with the increasing production of automotive vehicles are also projected to bolster the heat resistant polymer market in the region.
Countries like India and ASEAN are also expected to contribute significantly to the growth of the global market during the forecast period. Significant growth of end-use industries, such as automotive and electrical, and electronics, supportive government policies, and robust economic growth are a few prominent factors positively influencing the market growth in the countries.
North America expected to hold a significant share of the global market in 2023 and is projected to witness a steady growth rate during the forecast period. Increased demand for various electronic components such as microchips and digital semiconductors in automotive industry is the key factor augmenting the sales of heat resistant polymers in the region.
Increasing production of automobiles and rising investments in the defence and aerospace sector is projected to increase the demand for heat resistant polymers in the region.
Fluoropolymers segment is estimated to dominate the global heat resistant polymer market in 2023 and is expected to continue this dominance during the forecast period. Fluoropolymers offer a wider range of applications in the electrical and electronics industries owing to their polytrophic properties, which include great chemical resistance and dimensional stability. Due to their insulation qualities, fluoropolymers are frequently used in interconnecting wire, hook up wire, computer wire, and thermocouple wires, which has led to an increase in demand for these polymers.
The automotive segment is anticipated to hold a significant share of the global heat resistant polymer market. Various superior advantages of heat resistant polymers, such as chemical resistance, temperature resistant, good electrical properties, flame retardancy and high dimensional stability make them ideal for automotive applications over various metallic materials. Increasing demand for these polymers over metallic materials to manufacture compact, more fuel-efficient, and light vehicles is expected to boost the global heat resistant polymer market in the coming years.
The global heat resistant polymer market is partially consolidated in nature with the presence of several key players holding a significant market share. Key market participants involved in the market are focusing on the research and development of new products with enhanced applications to cater to the growing demand from end-use industries.
Key players operating in the market include BASF SE, Arkema Group, Celanese Corporation, Covestro AG, Daikin Industries, Ltd., DIC Corporation, DuPont de Nemours, Inc., Evonik Industries AG, Honeywell International Inc., and others.
For Instance:
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.7% from 2023 to 2033 |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion, Volume in Tons, and CAGR from 2023-2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, End Use Industry, Region |
| Regions Covered | North America; Latin America; East Asia; South Asia and the Pacific; Western Europe; Eastern Europe; Central Asia; Russia and Belarus; Balkan and Baltic Countries; The Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Argentina, Germany, France, Spain, Italy, BENELUX, NORDICS, United Kingdom, Poland, Hungary, Romania, Czech Republic, China, Japan, South Korea, India, Association of Southeast Asian Nations, Australia and New Zealand, Kingdom of Saudi Arabia, United Arab Emirates, Türkiye, Northern Africa, South Africa, Israel |
| Key Companies Profiled | BASF SE; Arkema Group; Celanese Corporation; Covestro AG; Daikin Industries, Ltd.; DIC Corporation; DuPont de Nemours, Inc.; Evonik Industries AG; Honeywell International Inc.; Solvay S.A.; Victrex plc; Dongyue Group Limited; Kuraray Co. Ltd.; RTP Company Inc.; Ensinger GmbH |
| Customization and Pricing | Available upon Request |
In 2023, the value is expected to reach over US$ 17.1 Billion.
During the forecast period, the market is estimated to expand at a CAGR of 5.7% from 2023 to 2033.
The market is projected to reach US$ 29.77 Billion by the end of 2033.
China is projected to lead the Heat Resistant Polymer market in the forecast period.
Key players operating in the market include BASF SE, Arkema Group, Celanese Corporation, Covestro AG, Daikin Industries, Ltd., DIC Corporation, DuPont de Nemours, Inc., Evonik Industries AG, Honeywell International Inc., and others.
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Heat Resistant Polymer Market
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