New Jersey, NJ, Aug. 06, 2019 (GLOBE NEWSWIRE) -- Global increase in demand for automobiles as well as increasing replacement of metal parts with polyphthalamide parts are the factors propelling the growth of the market. The global polyphthalamide market is expected to grow from USD 1.37 Billion in 2018 to USD 2.35 Billion by 2026, at a CAGR of 6.93% during the forecast period 2019-2026, according to the new report published by Fior Markets.
Polyphthalamide belongs to the polyamide family of thermoplastic synthetic resins. Polyphthalamide is a semi-crystalline, aromatic polyamide. Due to their aromatic nature, polyphthalamide exhibits superior thermal management properties over the other polyamide resins. Polyphthalamide offers high stiffness and strength at elevated temperatures. It demonstrates properties for heat resistance, chemical resistance, abrasion resistance, tensile strength, and dimensional stability. Contrasting to typical polyamide, polyphthalamide has good creep resistance and moisture resistance. Polyphthalamide is being widely utilized in various end-user industries for their outstanding physical, thermal and electrical properties. For instance, polyphthalamide is being extensively used in the automobile in the fuel and coolant lines, pump wear rings, motor bobbin parts, fuel line connectors, water heater manifolds fuel modules, etc. Thus, worldwide increase in demand for the automobiles is expected to drive the demand for the polyphthalamide over the forecast period.
Even though the factors such as growing demand from the automotive industry, increasing utilization in the electrical & electronics industry as well as increasing substitution metal parts with polyphthalamide are driving the global polyphthalamide market,he strict environmental regulations on the manufacturing process and high raw material cost are anticipated to dampen the market growth over the forecast period. However, growing demand for bio-based polyphthalamides as well as increasing demand from the Asia Pacific region is opening new expansion opportunities for the global polyphthalamide market.
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Key players operating in the global polyphthalamide market are EMS Chemie Holding AG, BASF SE, DUPONT EI DE Nemours & Co., Solvay S.A., Evonik Industries AG, Arkema S.A., Polyone Corporation, SABIC, Eurotec, Propolymers Inc., Akro Plastics GMBH, Celanese Corporation, Kuraray, DSM, Ecomass, Eurotec A.S., PlastiComp, Inc., Pro Polymers Inc., and Lanxess, and among others. In order to enhance their market position in the global polyphthalamide market, key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- Polyphthalamide is increasingly replacing the metal components in the various industries. To effectively satisfy this increased demand, BASF SE in 2018, launched the Ultramid® Advanced T1000 – a new group of compounds based on polyamide 6T/6I. It is a strong and stable material that is suitable for use in a wide range of challenging environments across all industries.
- For instance, in 2017, Celanese completes the acquisition of nylon compounding division of Nilit. The Nilit makes compounds based on nylon 6 and 6/6, as well as different types of partially aromatic nylons, including polyphthalamide (PPA). Celanese did not disclose financial details of the transaction.
- Automotive industry is increasingly focusing on reducing the automobile weight with the use of polyphthalamide parts. Thus, to effectively satisfy this growing demand from the automotive industry, the Royal DSM in 2016, launched the ForTii® Ace. It is a polyphthalamide (PPA) based on 4T chemistry, which has an outstanding set of mechanical, thermal and chemical properties.
The carbon fiber reinforced segment is anticipated to grow at a CAGR of 9.03% in 2019-2026
The type segment is divided into plain unreinforced plain, glass fiber reinforced, carbon fiber reinforced, mineral-filled, and hybrid. Glass fiber reinforced polyphthalamide materials are extensively used in the automotive, electronics, personal care industry. Thus, the glass fiber reinforced polyphthalamide segment led the global market with 530.28 million revenue in 2018. Due to their superior high stiffness and creep resistance, the carbon fiber reinforced polyphthalamide are being increasingly utilized in the automotive and electronics applications. Consequently, the carbon fiber reinforced polyphthalamide segment is projected to grow at the fastest CAGR of 9.03% over the forecast period.
The automotive segment had a market value of USD 580.39 million in 2018
The end user industry is segmented into automotive, electrical & electronics, industrial equipment & apparatus, consumer & personal care, and others. Automotive industry is witnessing a huge demand for the lightweight, fuel efficient cars. Thus, in order to achieve this goal automotive industry is increasingly emphasizing on replacing the metal parts with the polyphthalamide materials. Hence, the automotive segment emerged as the leader in the global demand for the polyphthalamide with USD 580.39 million revenue in 2018.
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Region Segment Analysis of the Polyphthalamide Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region emerged as the largest market for the polyphthalamide with a 46.32% share of market revenue in 2018. The Asia Pacific region is generating a burgeoning demand for the automobiles. Also, the major presence of big OEMs such as Honda, Toyota, Suzuki, Hyundai, etc. is generating a huge demand for the polyphthalamide for the automotive applications. In recent times, the Asia Pacific region has emerged as the global manufacturing hub for electrical and electronic devices. Thus, growing demand for the polyphthalamide from the automotive and electrical & electronics industry led the Asia Pacific to dominate the global polyphthalamide market in 2018. The Europe region accounted for a considerable share of the global polyphthalamide market in 2018 due to the presence of well-developed automotive industry in this region.
About the report:
The global polyphthalamide market is analysed on the basis of value (USD Million), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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