- Press Release -

The global high performance polymers market for automotive is slated to reach nearly US$ 4 billion by 2031, expanding at a robust CAGR of approximately 8%, according to a recent research report published by award-winning consulting firm Fact.MR. Growth is majorly reliant on usage of high performance polymers across powertrains, engines, interiors, exteriors, chassis, and structural components.

As per Fact.MR’s report, high performance polymer demand for automotive components primarily banks on increasing governmental curbs on carbon emission levels. The US EPA estimates that, global carbon emissions from fossil fuels increased significantly since 1970, contributing 78% of total emission levels. Hence, preference for lightweight polymer-based automotive components is inclining, as these help achieve fuel economy by reducing engine load.

Furthermore, surging popularity of electric and autonomous vehicles is also inclining the high performance polymers market for the automotive industry. It is projected by the Institute of Electrical and Electronics Engineers that 3 out of 4 cars will be autonomous by 2040, while the International Energy Agency’s Global EV Outlook pegged sales of electric vehicles at 2.1 million units in 2019, comprising 3% of total car sales.

Key Takeaways from Market Study

• By product, polyphthalamide (PPA) deployment to remain maximum across key application areas
• High performance polymers for powertrain & engine manufacturing to experience major incline
• The U.S. to generate lucrative prospects for high performance polymers in the automated vehicles segment
• High scope for lightweight automotive parts manufacturing to spur high performance polymer sales across China
• India to witness high uptake amid increasing strictness in emission curbing standards

“Prominent players are increasingly tilting towards manufacturing ferroelectric polymers for various components, including acoustic systems, attributed to their low cost, easy processing, high compatibility, and light weight, generating significant revenue streams for the future,”

Competitive Landscape

Prominent manufacturers are majorly reliant on expanding existing product portfolios along with capacity expansion initiatives so as to secure a firm footing within the global landscape.

• In August 2020, LANXESS Chemical launched its bio-based prepolymer line, Adiprene Green, as a replacement for fossil based polyether prepolymers to manufacture highly durable polyurethane elastomers. The objective was to create a range of bio-based prepolymers to produce component with a reduced CO­­2 footprint.
• Recently, in March 2021, Evonik Industries and InnovationLab jointly presented the TAeTTOOz® material technology printable batteries, developed from redox polymers offered by Creavis, Evonik’s strategic innovation unit. The solution presents an innovative technology for the efficient production of rechargeable battery cells.
• In April 2021, 3M Company announced the launch of 3M Ceramic Coating, its new long-lasting protective finish for automotive paint, metal, plastic trim, wheels and glass. The coating delivers high-gloss, extremely slick surface with high aesthetic value and helps shed water quickly.

More Insights on the High Performance Polymers Market for Automotive

Fact.MR, in its new offering, presents an unbiased analysis of the high performance polymers market for automotive, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of product (polyphenylene sulfide (PPS), polyphthalamide (PPA), polyamide (PA) PA46 & PA4T, liquid crystal polymers (LCP), polyether ether ketone (PEEK), polyaryletherketone (PAEK), polyvinylidene fluoride (PVDF), and others (including polyether imide and fluoropolymer) and application (powertrains & engines, electrical components, interior & exterior furnishings, under-the-hood components, structural components, and others (including tires)). across five major regions of the world (North America, Latin America, Europe, Asia Pacific, and MEA).

Fact. MR’s Domain Knowledge in Chemicals and Materials

Our chemical and material consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the chemical and material sector. Our expertise in recognizing the challenges and trends impacting the global chemical and material industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Indronil Sikdar

Fact.MR

Consultant – Chemicals and Materials

E-mail: Indronil@factmr.com