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High Performance Plastics Market Key Driver and Future Opportunity Assessment 2024

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High Performance Plastics Market Key Driver and Future Opportunity Assessment 2024
High Performance Plastics Market Key Driver and Future Opportunity Assessment 2024
High performing plastics are specially designed polymers with high mechanical strength, chemical
resistance, and, all-importantly, temperature resistance. Stability at high temperature is the main
criterion used to differentiate high performance plastics from regular plastics, but the high
mechanical strength of high performance plastics has made them a key component of the global
manufacturing sector in recent years. The current high performance plastics sector is the result of
the constant effort in the plastics industry towards betterment of their mechanical properties and
resistance to temperature and chemical stimuli.The global high performance plastics market has a
large number of end-use segments, as the need for strong manufacturing materials is being felt in
several sectors. The automotive industry and the consumer goods industry are two of the leading
application segments of the high performance plastics market. Other key applications of high
performance plastics lie in construction, medical devices, and electronics and electrical materials.
Fluoropolymers are the dominant plastic in the global high performance plastics market and are
likely to retain a dominant share in the coming years.
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The steady demand from the automotive sector has been a key driver for the global high
performance plastics market. The automotive sector is always on the lookout for high-strength
lightweight materials due to the several benefits they provide with regard to automotive design.
This has led several automotive giants to high performance plastics, which are close to the ideal
configuration available to car manufacturers in the current technological scenario. The booming
automotive industry is thus likely to remain a key driver for the global high performance plastics
market in the coming years, as the widening perimeter of the industry will enable steady research
into car construction materials and the role of high performance plastics in automotive design
templates of the future.The rapid growth of the global consumer electronics industry has also been
a steady driver for the global high performance plastics market. Like the automotive industry, the
consumer electronics industry has benefited in recent years from the rise in the disposable income
of urban consumers and the increasing prominence of the smartphone in their daily lives.
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Plastics market, request a PDF brochure here.
The use of high performance plastics in smartphones and other consumer electronics has risen due
to the steady preference for tougher materials resistant to a wider range of stimuli. Despite the
dominance of annually updated smartphone ranges, many users place high importance to the build
quality of the device, which is likely to aid the growth of the high performance plastics market in
the coming years.North America and Europe are likely to dominate the global high performance
plastics market in the coming years due to the steady presence of several industry leaders and the
consistent demand for technological upgrades. The automotive and consumer electronics
industries in these regions are also dominant in the respective global markets, which is a key factor
enabling steady growth of the high performance plastics market in the coming years.
For more actionable insights into the competitive landscape of global High Performance
Plastics market, get a customized report here.
Key players operating in the global high performance plastics market include Sekisui
Chemical Co., Ltd., Saint-Gobain Performance Plastics Corporation, Röchling-Group,
Quadrant Group of Companies, Ensinger India Engineering Plastics Private Ltd., Grindwell
Norton Ltd., Dover High Performance Plastics, A. Schulman Inc., Quantum Polymers,
CoorsTek, Inc., BASF SE, Murtfeldt Kunststoffe GmbH & Co. KG, DuPont, and TriStar
Plastics Corporation.
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