Latest Report: Polyphthalamide Market Competitive Trends 2016 – 2021 – Credence Research
According to a new market report published by Credence Research, “Polypthalamide Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022,” the polypthalamide market was valued at US$ 0.67 Bn in 2016, and is expected to reach US$ 1.04 Bn by 2022, expanding at a CAGR of 7.5% from 2016 to 2022.
Polypthalamide is a semi-crystalline polyamide which is a thermoplastic synthetic resin. It belongs to the family of nylons and possesses wide range of properties beneficial to various industries. PPA due to its aromatic nature provides with benefit such as chemical resistance, heat resistance, creep and fatigue resistance, dimensional stability as compared to other polyamides. As PPA absorbs moisture very slow, it gives excellent performance in various conditions which includes chemical resistance and high temperature conditions. They are well known for strength and stiffness.
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Growing demand for automobiles in the emerging economies such as Asia Pacific has led to high demand for PPA in the market. Automotive industry is the largest consumer of PPA globally. It is used in the manufacture if various automotive components such as motor end caps housing, fog lamp assemblies, halogen lamp sockets, solenoids and sensors, anti-lock braking system components and fuel system components among others. Weight reduction of vehicles and products manufactured from PPA is the major factor driving the growth of PPA in the automotive industry. Therefore, growing demand for automobiles has thereby led to high demand for PPA from the automotive industry. Electronic industry now focuses on miniaturization. Small and complex components are manufactured in the electronic industry with higher value and application. PPA is used in manufacturing various such electronic components due the beneficial properties that it possesses. Hence, electronic industry is also expected to contribute to the growth of global polypthalamide market in 2016. Personal care products and medical industry is also expected to offer high growth opportunities for PPA during the forecast period from 2017 to 2022.
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Automotive accounted to be the largest application segment of global polypthalamide market in 2016. Increasing demand from automotive industry has led to high growth of PPA in the market. Furthermore, growing automotive industries in the market have also added to rising demand for PPA. Therefore, automotive accounted to be the major consumer of PPA in the global market. Electronic application was expected to follow automotive application in terms of demand in 2016. Excellent insulating properties, dimensional stability, strength and stiffness provided by PPA have made it applicable in manufacturing various electrical and electronic components. Hence, strong demand is experiences from electronic industry and is expected to rise in the near future. Machine & appliances and personal care products are anticipated to demonstrate market growth of polypthalamide market during the forecast period from 2017 to 2022.
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Key players dominate the global polypthalamide market making the entry of new players difficult. These companies have already established its position in the market because of high demand for polypthalamide from various automotive, electronic and personal care products industries among others worldwide. Upcoming players are now focusing on medical products as they are expected to offer high opportunities for growth in the near future.
Chemical and heat resistant
Deliver cost effective solutions
Replacing metals in many applications
Polypthalamide (PPA) Market Is Expected To Reach US$ 1.04 Bn By 2022 – Credence Research reviewed on April 6, 2016 by Anuradha Shukla rated 4.9 of 5
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