About the Report
According to Fact.MR, the global high performance polymers market for automotive is slated to expand at a robust CAGR of approximately 8% from 2021-2031. Rapid advancements in automotive technology have opened up a plethora of opportunities for major stakeholders within the sector. Increasing trend of incorporating lightweight material to enhance vehicle performance has boded well for high performance polymers for the automotive industry.
Key expansion dynamics at play here include the ever-widening trend of personal mobility and rapid artificial intelligence penetration. This new report by Fact.MR tracks global sales of high performance polymers for automotive in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the chemicals & materials domain in general, and demand for high performance polymers for automotive in particular.
How Do Historical & Future Projections Compare?
The high performance polymers market for automotive has posted significant gains in the past, with significant developments happening across the automated vehicles sector. Rising demand for precision based vehicle control equipped with advanced technologies is primarily inclining demand for such polymers.
Growth prospects dimmed substantially amid the initial months of 2020, as the COVID-19 pandemic was at its peak. Stalling automotive output amid mandatory shutdowns affected demand to a large extent. Fortunately, as restrictions eased, prospects rebounded since Q4 2020. Future prospects appear bright, with an expected valuation of nearly US$ 4 billion by 2031.
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How are Personal Mobility Trends Shaping Demand for High Performance Polymers for Automotive?
The personal mobility revolution comprising proliferation of self-driving and artificial intelligence enabled automobiles is fast garnering vehicle owners’ attention. To enhance performance, manufacturers are incorporating lightweight construction material, thus widening scope for high performance polymers uptake.
Personal mobility is also characterized by enhanced automotive electrification. Specialized products like Evonik’s VESTAKEEP® PEEK, P84® NT polyimide, and VESTAMID® polyamide 12 molding compounds allow manufacturers to produce durable, precision components such as bearings or gears that are capable of transmitting or absorbing power.
Why is the Space for Ferroelectric Polymers Widening?
As demand for connected and electric vehicles increase, manufacturers are ceaselessly working to introduce solutions which enhance engine performance by virtue of incorporating lightweight material. Hence, demand for high performance polymers is inclining significantly.
The introduction of ferroelectric polymers is a welcome development in this regard, used primarily to design acoustic speaker systems in vehicles to enhance sound output and reduce weight. Sigma Aldrich for instance is a prominent ferroelectric polymer manufacturers, offering various grades.
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What are the Key Challenges to Market Expansion?
While high performance polymers have been hailed as a significant development in the automotive industry, they are often highly priced, compelling manufacturers to allocate a large proportion of their budget towards the same. Hence, small-scale manufacturers are often unable to cope with this trend, limiting growth prospects.
Furthermore, manufacturing high-grade polymers is an environmentally costly process, involving significant amount of raw material input, which might lead to wastage and pollute the surroundings. Fortunately, green manufacturing trends have led to the introduction of green polymers, thereby offsetting the negative impact associated with their production.
What Growth Prospects are in Store for the U.S. Market?
Rising demand for plastic standardization is broadening deployment scope for high performance polymers uptake across the US automotive industry. Furthermore, advanced plastics are poised to play a fundamental role in enhancing automotive mobility and autonomy.
According to the 2020 Automotive Composites Conference organized by the Society of Plastic Engineers (SPE), opportunities abound across the automated vehicles segment. New plastics have enabled design and seamless integration of high-value content such as sensors, transparent displays and ambient light aesthetics. Hence, manufacturers are increasing their inroads across the country.
How is China Pivoting Demand for High Performance Polymers for Automotive?
According to China’s national automobile industry policy, in forthcoming years, application of lightweight materials will be majorly driven with the objective of economizing fossil fuel consumption. This is expected to generate high growth opportunities for high performance polymers across the automotive industry.
Statistics suggest that the average amount of plastic parts per car is around 100 kg across China, thus providing immense scope for future development. Hence, a number of regional and international level manufacturers have successfully penetrated the regional market.
How are Strict Emission Standards Governing Sales across India?
India is the world’s 5th largest automotive manufacturing hub, with the automotive components industry presently valued at US$ 57 billion, expected to reach US$ 200 billion by 2026, as per Invest India. Hence, scope for high performance electroactive polymers for automotive manufacturing is immense.
Furthermore, strict emission curbing standards, as evidenced by the recent scrapping of vehicles equipped by BS-IV emission standards and a direct transition to BS-VI standards is widening demand. High performance plastic materials in automobiles are being developed with multilayered structures in fuel lines.
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Why is Polyphthalamide (PPA) Usage Anticipated to Soar?
By product, demand for polyphthalamide (PPA) is expected to reach new heights, amid its extensive applications for a wide range of purposes, including manufacturing various structural parts, fuel system components, cooling and heating system components and other parts.
Adoption is likely to increase due to its superior dimensional stability, high chemical resistance, excellent mechanical strength & stiffness, high creep & fatigue resistance and high deflection temperature properties.
Will Demand for High Performance Polymers for Powertrains & Engines Surge?
By application, the powertrain & engine segment is expected to tower over other domains. Using high performance polymers for powertrain & engine manufacturing helps reduce overall weight, making the automotive much lighter and more efficient.
Replacing conventional metal components with lightweight polymers helps induce a positive change by significantly reducing manufacturing costs, as well as achieving reduction in the global carbon footprint.
Key players emphasize capacity and product portfolio expansion to cater to numerous application areas. Some notable development includes:
- In May 2021, BASF SE supplied its Ultramid® A3WG10 polyamide to support MAHLE’s plastic transmission support bracket across automobiles to enhance energy efficiency by 50%
- Likewise, Saudi Basic Industries Corp. (SABIC) announced its plans to continue developing thermoplastic-based solutions and harnessing its expertise to help optimize EV performance, especially with respect to its plastic-intensive battery pack
*This list is indicative- full details about prominent manufacturers of high-performance polymers for automotive is available upon request.
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Historical Data Available for
US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Customization & Pricing
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Key Market Segments Covered
- High Performance Polyphenylene Sulfide (PPS) for Automotive
- High Performance Polyphthalamide (PPA) for Automotive
- High Performance Polyamide (PA) PA46 &PA4T for Automotive
- High Performance Liquid Crystal Polymers (LCP) for Automotive
- High Performance Polyether Ether Ketone (PEEK) for Automotive
- High Performance Polyaryletherketone (PAEK) for Automotive
- High Performance Polyvinylidene Fluoride (PVDF) for Automotive
- High Performance Ferroelectric Polymers for Automotive
- Others (including Polyether Imide and Fluoropolymer)
- High Performance Polymers for Powertrains & Engines
- High Performance Polymers for Electrical Components
- High Performance Polymers for Interior & Exterior Furnishings
- High Performance Polymers for Under-the-Hood Components
- High Performance Polymers for Structural Components
- Others (including Tires)
- North America (US and Canada)
- Europe (Germany, France, UK, Italy, Spain, Russia & CIS and Rest of Europe)
- Asia Pacific (China, Japan, India, ASEAN and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (GCC, South Africa and Rest of MEA)
High Performance Polymers Market for Automotive- Scope of Report
A recent study by Fact.MR on the high performance polymers market for automotive offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering high performance polymers for automotive.
The study also provides the dynamics responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing high performance polymers for the automotive industry, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of high performance polymers for automotive across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of high performance polymers for automotive during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative markets for high performance polymers for automotive?
- Which factors will impact the growth of the high performance polymers market for automotive?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the high performance polymers market for automotive?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of volume (‘000 Units) and value (US$ Mn).
Market estimates at global and regional levels for high performance polymers for automotive are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global high performance polymers market for automotive.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the high performance polymers market for automotive during the forecast period.
Country-specific valuation on demand for high performance polymers for automotive has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of high performance polymers market for automotive, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in manufacturing high performance polymers for automotive has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the high performance polymers market for automotive, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.