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High Performance Polymers Market for Automotive

High Performance Polymers Market for Automotive

High Performance Polymers Market for Automotive by Product (Polyphenylene Sulfide (PPS), Polyphthalamide (PPA), Polyamide (PA) PA46 &PA4T), by Application (Powertrains & Engines, Structural Components), by Region - Global Insights to 2031

High Performance Polymers Market for Automotive
FACT5916MR

Market Outlook of High Performance Polymers Market for Automotive

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.

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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.

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.

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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.

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.

high performance polymers market for automotive

Country-wise Analysis

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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Category-wise Insights

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.

Competitive Landscape

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.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Countries Covered

  • US
  • Canada
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • CIS & Russia
  • China
  • India
  • Japan
  • ASEAN
  • GCC
  • South Africa
  • Brazil
  • Mexico

Key Segments Covered

  • Product
  • Application
  • Region

Key Companies Profiled

  • BASF SE
  • DuPont de Nemours Inc.
  • Dow Chemicals Company
  • Saudi Basic Industries Corp. (SABIC)
  • Mitsui Chemicals Inc.
  • LANXESS Chemical
  • 3M Company
  • Royal DSM
  • Evonik Industries AG
  • Kuraray Co. Ltd.
  • Celanese Corporation
  • Solvay S.A.
  • EMS-Chemie Holding AG
  • Ensinger GmbH
  • Daikin Industries Ltd.
  • Arkema
  • Saint Gobain Performance Plastics

Customization & Pricing

Available upon Request

Key Market Segments Covered

  • Product

    • 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)
  • Application

    • 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)
  • Region

    • 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)

- FAQs -

The global high performance polymers market is poised to be valued at nearly US$ 4 billion by 2031, expanding at around 8% CAGR.
China is anticipated to dominate the global market, given the voluminous amounts of automotive components manufactured to cater to the ever-widening domestic automotive sector. India will also post lucrative opportunities.
BASF SE, Dow Chemicals Company, DuPont de Nemours Inc., and LANXESS Chemical are some prominent high performance polymer manufacturers for the automotive industry.

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