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High-Temperature Plastic Market is expected to reach US$50.5 billion by 2026, growing at a CAGR of 5.5% during the forecast period of 2021-2026.

HYDERABAD, TELANGANA, INDIA, November 17, 2022 /EINPresswire.com/ -- The High-Temperature Plastic Market is expected to reach US$50.5 billion by 2026, growing at a CAGR of 5.5% during the forecast period of 2021-2026. Increasing demand for plastic materials in the automotive, electronics, and packaging industries is expected to be one of the key driving factors. Polyimides are high-performance plastics that exhibit high temperature and electrical resistance as well as high strength. They are widely used in automotive & transportation markets, consumer goods, and electrical and electronics applications. The high-temperature performance of polypropylene will drive the demand for high-temperature plastic. With the rising demand of packaging industry, the demand for fluoropolymers will expand. Fluoropolymers are a ubiquitous part of modern life used in everything from food packaging to the non-stick coatings on kitchen pans. Fluoropolymers have been able to satisfy many different industrial needs, making them a highly popular material.

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Key takeaways:

This IndustryARC report on the High Temperature Plastics market highlights the following areas -

1. The high temperature plastics are used for the production of dashboard and cabin air filters, which make up about 70% of the automotive parts market.

2. The high temperature plastics market in India will grow at a CAGR of 6.2% during the forecast period. The growing sales of light weight and passenger cars in India is driving the market growth.

3. The growing demand for high quality passenger cars in China is driving the manufacturers to adopt high temperature plastics in the production of cars.

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Segmental Analysis:

1. High Temperature Plastics Market – By Type : The polytetrafluoroethylene segment accounted for the maximum share of 34% in 2020 and is expected to grow significantly during the forecast period. The favorable growth will be seen in high temperature plastics especially in the industries like automobiles, aerospace and electrical and electronics and demand for coating industry will open doors for the market. The major end-use industries such as automotive, aerospace and electrical & electronics are using Polytetrafluoroethylene for the production of various components.

2. High Temperature Plastic Market-By Application : High Temperature Plastics will be used as insulators to protect electrical and electronic equipment from heat and as a protective covering for electronic equipment to prevent malfunctions due to mechanical and thermal stress. The market for High Temperature Plastics will increase in line with the growth in electrical and electronic equipment usage globally. High Temperature Plastics are used to insulate equipment from heat and protect equipment from stresses due to heat.

3. High Temperature Plastic Market-By End Use Industry : The automotive segment accounted for 30% in 2020 and is expected to grow significantly during the forecast period 2021-2026. The automotive sector is currently challenged by the global slowdown and the implementation of stricter emission standards. However, the global automotive market is expected to witness a significant growth in the developed and developing markets. In the developed regions, Asia-Pacific is expected to grow at the fastest pace between 2021 and 2026.

Competitive landscape:

The top 5 players in the High Temperature Plastic industry are:

1. BASF SE
2. Celanese Corporation
3. DIC Corporation
4. Dongyue Group Ltd.
5. E. I. DU Pont De Nemours & Company

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Related Reports:

A. High Temperature Thermoplastics Market
https://www.industryarc.com/Research/High-Temperature-Thermoplastics-Market-Research-500362

B. Engineering Plastics Market
https://www.industryarc.com/Report/15507/engineering-plastics-market.html

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