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High Performance Plastics Market

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High Performance Plastics Market report categorizes global market by form type, product type, and application - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024
High Performance Plastics Market - Global Industry
Insights, Trends, Outlook, and Opportunity Analysis,
2018–2026
Plastics comprise of a wide range of synthetic and semi-synthetic materials,
which are strong, moldable and lightweight in nature. Over the last couple of
decades, plastics have emerged as an inseparable part of humankind, finding its
application in every fathomable part of daily life. Plastics enhance comfort,
convenience, and safety of products. They are modified to suit the requirement
and find application used in houses such as carpets, blankets, and pillows for
improved comfort; in bottles and coolers for portable means to carry food and
drinks. They are also used in several electronic devices to enable Internet access
and communication, and in sports and safety equipment. Improved standard of
living and growing environmental awareness and sustainable development
thinking among the populace are driving demand for new and innovative
material plastics. Plastics that are mainly used in high temperature and high
pressure applications are known as high performance plastics. These plastics
show excellent performance and effectiveness on exposure to highly reactive
chemicals.
High performance plastics exhibit properties of high resistance to chemicals and
electricity, low coefficient of friction, superior performance at high temperature,
and high strength, thus considered highly superior to standard or engineering
plastics. These plastics are priced premium and are usually used in very small
quantities.
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High Performance Plastics Market Outlook – Asia-Pacific is the largest,
and fastest-growing region, globally
Asia-Pacific is the largest, and fastest-growing region in the global high
performance plastics market, due to rampant growth in the electrical &
electronics industries in countries such as China, Taiwan, and South Korea,
which are among the largest manufacturers of electrical & electronics
components. The key factors such as growing manufacturing plants of key
major players in the region, high economic growth, cheap labor, and increasing
FDI in emerging economies such as India and China, are fueling growth of the
high performance plastics market in the region. The growing end-use
applications of high performance plastics in automotive, aviation, and medical
industries, also provide great scope to the market growth in the Asia-Pacific
region.
High manufacturing costs lead to the exorbitant prices of these plastics, in turn,
inhibiting market growth. Some of the major companies operating in the global
high performance plastics market are BASF SE, Daikin Industries, Ltd.,
Celanese Corporation, Solvay S.A., Arkema SA, Evonik Industries AG,
Kuraray Co., Ltd., E. I. duPont de Nemours and Company, SABIC, and Victrex
Plc.
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pallavi.reddy
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