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Rising development of bio-based polyphthalamide is a key factor driving polyphthalamide market revenue growth

VANCOUVER, BC, CANADA, July 14, 2022 /EINPresswire.com/ -- The global polyphthalamide market size reached USD 1042.7 Million in 2021 and is expected to register a revenue CAGR of 6.8% during the forecast period, according to a latest analysis by Emergen Research. Increasing development of bio-based polyphthalamide is a key factor driving polyphthalamide market revenue growth. Bio-based polyphthalamide and other polymers are made from biological sources and it is environment friendly. These types of polymers are widely used for the production of bio-based plastics as a replacement for petroleum-based plastics. Rising adoption of bio-based polyphthalamide prompted various companies to develop and launched this type of product in the market. In July 2019 for instance, DuPont, which is a U.S.-based chemical manufacturing company, introduced a novel bio-based flame retardant polyphthalamide (PPA) chemical for electrical components that is non-halogenated. This compound could replace metals, performance polymers such as liquid crystal polymers, and thermoset polymers in sectors including electronics and automotive.

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The major companies Covered in the report are:

Ems-Chemie Holding AG, Solvay S.A., Evonik Industries AG, BASF SE, DuPont de Nemours, Inc., Saudi Basic Industries Corporation, Arkema S.A, EMS Chemie Holding AG, Akro Plastics GMBH, and Avient Corporation, Others

The rising demand for polyphthalamide in metal replacement applications is also expected to drive revenue growth of the market. Polyphthalamide is used as a substitute for metal components in the automotive and electronics sectors. The rising trend of lightweight fuel-efficient vehicles creates a huge demand for polyphthalamide for manufacturing automotive components. To meet the demand various companies are introduced polyphthalamide-based products in the market. On 29 April 2021 for instance, Solvay, which is a Belgium-based chemical manufacturer, launched a new series of high-performance polyphthalamide compounds Amodel that is designed for demanding e-mobility and metal replacement applications.

Some Key Highlights from the Report

The glass fiber segment accounted for largest revenue share in 2021 due to the rising adoption of glass fiber polyphthalamide in manufacturing electronics and automotive components. It is mainly used as the main substitute for metals. It has high-temperature consistency combined with exceptional chemical resistance and mechanical characteristics which makes it perfect for making automotive and electronics components.

The electronics & electrical segment is expected to register a steady revenue growth rate over the forecast period due to the increasing demand for polyphthalamide for manufacturing electrical and electronic components such as connectors & sockets, capacitor & chip carriers, sensors, and many more. Increasing adoption of consumer electronics across the globe is expected to boost revenue growth of the segment.

The market in North America is expected to register a steady growth rate during the forecast due to the rising demand for polyphthalamide in the automotive sector. The current trend for adoption of lightweight vehicles and increasing research and development activities in the automobile sector creates ample opportunities for the market in the region, especially in the U.S. In addition, rising adoption of polyphthalamide in manufacturing electronics and electrical components is expected to support revenue growth in the region.

On 1 February 2022, BASF SE would begin marketing polyamide (PA) and polyphthalamide (PPA) grades as part of the acquisition of Solvay's PA66 business in Europe. BASF received conditional approval from the European Commission to acquire Solvay's polyamide business. As a result, BASF began successfully selling integrated engineering plastics in emerging markets such as Asia and North and South America.

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Emergen Research has segmented the global Polyphthalamide market on the basis of type, application, and region:

Type Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)

Unfilled

Mineral-filled

Glass fiber-filled

Carbon fiber-filled

Hybrid

Application Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)

Automotive

Industrial Equipment & Apparatus

Personal Care

Electronics & Electrical

Others

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Regional Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019–2030)

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

U.A.E.

South Africa

Turkey

Rest of MEA

Radical Features of the Polyphthalamide Market Report:

The report encompasses Polyphthalamide market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements

An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently

Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies

Supply chain analysis along with technological advancements offered in the report

The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Polyphthalamide industry

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