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Heat Resistant Polymer Market

Market Insights on Heat Resistant Polymer covering sales outlook, demand forecast & up-to-date key trends

Heat Resistant Polymer Market by Product Type, End Use & Region - Forecast 2022 - 2032

Heat Resistant Polymer Market Outlook

The heat resistant polymer market is likely to register a CAGR of 6.7% during the forecast period and is anticipated to reach a heat resistant polymer market share of US$ 33.95 Billion in 2032, from US$ 17.75 Billion in 2022.

The growing demand for heat-resistant polymer in the automotive and aerospace sectors is likely to propel the heat-resistant polymer market forward. Products made from heat-resistant polymers are making tremendous progress in terms of commercialization as well as R&D breakthroughs.

Attributes

Details

Heat Resistant Polymer Market (CAGR)

  6.7%

Heat Resistant Polymer Market (2022)

US$ 17.75 Billion

Heat Resistant Polymer Market (2026)

US$  23.01 Billion

During the forecast period, demand for the heat-resistant polymer is likely to be driven by the replacement of traditional materials such as metals in the automobile sector with lightweight plastics. High-temperature polymers exhibit high efficiency in heat-resistant applications and a great deal of curiosity due to their prospective industrial uses, resulting in escalated sales of heat-resistant polymers.

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What are the Growth Propellers in the Heat Resistant Polymer Market?

The heat-resistant polymer market is majorly driven by its distinct functional properties, such as excellent chemical resistance, good dimensional stabilities, superior electrical properties, and flame-retardant nature.

The presence of such advantageous properties is anticipated to drive the demand for heat resistant polymer as well as sales of heat resistant polymer in the near future. The processing cost of heat resistant polymer is quite high, which is expected to restrain the growth of heat resistant polymer market.

The prominent manufacturers involved in the production of heat resistant polymer are adopting aggressive growth strategies in order to increase their presence in mature as well as emerging economies to cater to the escalated sales of heat resistant polymers.

What are the Key Developments in the Heat Resistant Polymer Market?

Moreover, the increase in the usage of heat resistant polymer in several automotive components in the transportation industry is boosting the heat resistant polymer market globally and sales of heat resistant polymer.

Heat-resistant polymers have less weight compared to that heavy-weight metals, owing to this heat resistant polymer being used in several high-growth applications such as boats, skyscrapers, airplane cabins, and others.

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Which Segment by Type has the Largest Share in Heat Resistant Polymer Market?

In terms of type, the fluoropolymer grade segment is expected to lead the heat resistant polymers market. This segment's considerable share may be ascribed to its diverse qualities, which include excellent chemical resistance, including resistance to solvents, acids, and bases; high dimensional stability; and, most importantly, non-stick or friction-reducing capabilities.

This is projected to increase demand for heat resistant polymers along with sales of heat resistant polymers in the Asia-Pacific and North American automotive and aerospace industries.

Which Segment by End User has the Largest Share in Heat Resistant Polymer Market?

According to estimates, the transportation segment by end-use is anticipated to account for the lion's share of the heat resistant polymers market share.

This substantial percentage can be due to the increased use of heat resistant polymers in automobiles to make them lighter, more compact, and more fuel-efficient by replacing metallic elements with these plastics along with catering to the surged sales of heat resistant polymers.

The demand for heat resistant polymers, together with sales of heat resistant polymers, is intended to increase the service life of under-the-hood components. Furthermore, heat resistant polymers are lighter alternatives to metals that deteriorate when exposed to salts or vehicle fluids. This is also projected to stimulate growth in the transportation form end-use segment of heat resistant polymers market.

Some of the most common automobile uses for heat resistant polymers are fuel systems, electrical & electronics components, induction systems, coolant systems, engine components, powertrain, braking systems, sockets, and transmission components.

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What is the Regional Outlook for Heat Resistant Polymer Market?

Based on regions, the heat resistant polymers market can be segmented into Asia Pacific, Latin America, Europe, North America, and Middle East & Africa. The Asia Pacific is expected to witness prominent growth and account for the key share of heat resistant polymer market and sales of heat resistant polymer in the near future.

The Asia Pacific is estimated as a significantly growing region owing to the growing demand for heat resistant polymer in several end-use industries, especially transportation. India, China, and Japan are the prominent countries in terms of consumption and production of heat resistant polymers in Asia Pacific.

In North America, the U.S. is expected to account for a prominent heat resistant polymer market share owing to the expansion in the transportation industry. Europe is a significant region for heat resistant polymer market in terms of production and demand for heat resistant polymer.

The heat resistant polymer market of Europe is mainly driven by the expansion and significant growth in the electrical and electronics market. Latin America is anticipated to witness decent growth in heat resistant polymer market due to the increasing demand for heat resistant polymer for specific applications in big buildings, airplane cabins, boats, and others.

Heat resistant polymer market in the Middle East and Africa is expected to grow at a significant rate over the forecast period.

How is the Competition in the Heat Resistant Polymer Market?

The global demand for heat resistant polymers is thriving in a relatively consolidated and competitive market. Honeywell International, BASF, Du Pont, Daikin Industries, DIC Corporation, Evonik Industries, Celanese Corporation, Solvay S.A., PolyOne Corporation, RTP Company, and Tri-Mack Plastics Manufacturing Corporation are some of the major participants in the heat resistant polymer market.

Mergers and acquisitions are a common occurrence in the heat resistant polymer market, as they allow businesses to increase their regional presence and product portfolio. The trend toward the formation of new SBUs is expected to boost demand for heat resistant polymers.

Scope Of Report

Report Attribute

Details

Growth rate

CAGR of 6.7% from 2022 to 2032

Base year for estimation

2021

Historical data

2015 – 2021

Forecast period

2022 – 2032

Quantitative units

Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis

Segments covered

Product type, end use, region

Regional scope

North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa

Key companies profiled

Honeywell International, BASF, Du Pont, Daikin Industries, DIC Corporation, Evonik Industries, Celanese Corporation, Solvay S.A., PolyOne Corporation, RTP Company, and Tri-Mack Plastics Manufacturing Corporation

Customization scope

Free report customization (equivalent to up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.

KEY SEGMENTS

By Type:

  • Fluoropolymers
  • Polyimides
  • Polyphenylene Sulfide
  • Polybenzimidazole (PBI)
  • Polyether Ether Ketone (PEEK)
  • Others

By End Use:

  • Electronics and Electrical
  • Transportation
  • Others

Frequently Asked Questions

The heat resistant polymer market is anticipated to register a CAGR of 6.7% during the forecast period.

The heat resistant polymer market share is anticipated to reach US$ 29.82 Billion by 2030.

The growing demand for heat resistant polymer in the automotive and aerospace sectors is likely to propel the heat resistant polymer market forward.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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