High Temperature Plastics (HTP) Market
High Temperature Plastics (HTP) Market By Product Type (Fluoropolymers, Polyamides, High-performance Polyamides, Polyketones, Polysulfones, Polyphenylene Sulfide, Liquid Crystal Polymers), By End Use, By Region – Global Forecast 2022-2032
High Temperature Plastics (HTP) Market Outlook (2022-2032)
The global high temperature plastics (HTP) market is poised to increase at a CAGR of 5.8% and reach a market size of US$ 28.51 billion by 2032, up from a market valuation of US$ 15.56 billion at the end of 2021.
Demand for fluoropolymers is projected to increase at a higher CAGR of 7.2% from 2022 to 2032. Increasing adoption of fluoropolymers for several industrial needs is set to drive HTP market growth over the decade.
High Temperature Plastics (HTP) Market Size (2022)
US$ 16.22 Billion
Projected Market Value (2032)
US$ 28.51 Billion
Global Market Growth Rate (2022-2032)
APAC Market Share (2022)
Key Companies Profiled
Overall, the replacement of traditional materials with high temperature plastics across industry verticals such as automotive and electrical & electronics will be the main factor driving market growth over the coming years.
The global market is led by North America and APAC, who together account for nearly two-thirds of the worldwide consumption of HTP.
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Demand Analysis of High Temperature Plastics (2017-2021) Vs Market Outlook (2022-2032)
From 2017 to 2021, the global high temperature plastics market expanded at a CAGR of 4.6%.
High temperature plastics are defined as a type of plastic that can withstand a service temperature of more than 150°C. These materials are in high demand because they are more stable & durable and have superior mechanical qualities, despite being exposed to a wide range of temperatures.
Abrasion and toughness, wear and UV resistance, chemical resistance, and fire resistance are all important characteristics of high temperature plastics.
In the production of coatings, injection-molded parts, and sheets, polytetrafluorethylene, polyamides, polyphenylene sulfide (PPS) and LCPs are often used polymers. They are also utilized in insulation, connections, PCBs, relays, bobbins, switches, and sockets, among other things.
The HTP market is expected to be driven by rising demand for aerospace plastics that can endure high temperatures. HTPs are also used to replace metal pieces in industrial machinery that are too heavy to transport.
Furthermore, the construction industry's increasing demand for lightweight materials with great mechanical strength is expected to drive the consumption of HTP across the world.
Worldwide high-temperature plastic demand is projected to rise at a CAGR of 5.8% from 2022 to 2032.
What is Supporting High Temperature Plastic Sales Growth?
“Replacement of Conventional Materials with High Temperature Plastic Materials on the Rise”
Rise in the substitution of traditional materials and growing demand from the aerospace and automotive sectors are projected to drive HTP market growth over the coming years. Moreover, improved economic circumstances are expected to boost the sales of high temperature plastics for a wide range of end uses over the forecast period.
The market for high temperature plastics is expected to be supported by the particular properties of these materials. Furthermore, increased demand in developing countries will create further prospects for the high temperature plastics market to grow over the coming years.
One of the most important end-use industries for high temperature plastics is the automotive sector. High temperature coatings are used as an insulator for seat backs, instrument panels, automobile roofs, and exterior wall panels in the automotive and transportation industries. The market for automotive applications is expanding, and with greater HTP performance, it is projected to expand faster over the coming years.
What Roadblocks Do High Temperature Plastic Manufacturers Encounter?
“Rising Cost of High Temperature-Resistant Plastics across the World”
Polymers such as polyketones, polyphenylene sulphides, and liquid crystal polymers are used to make high temperature plastics. Prices of these polymers are fluctuating, resulting in a significant increase in the cost of the final product. Manufacturing high temperature plastics can be difficult, which could stymie industry growth. This is projected to stifle high temperature plastic sheet sales.
The first issue with using high temperature elastomers in medical applications is that polymers are brittle and difficult to work with. Medical devices are frequently exposed to high temperatures, but they are also subjected to a variety of environmental stresses such as abrasions, cuts, and pressures.
Machinable high temperature plastics are more expensive, making them unsuitable for many healthcare uses. This is one of the most significant obstacles to overcome when employing high temperature plastics in medical applications. High temperature plastics are also difficult to form into complicated shapes and are typically brittle and stiff, making them unsuitable for applications requiring high flexibility and strength.
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Why Does North America Account for the Highest Consumption of High Temperature Plastics?
“Rise in Government Spending in Aerospace Sector Driving HTP Consumption in North America”
North America accounts for 34.3% share of the global high temperature plastics market. Increased government spending in the aerospace sector for the advancement of novel materials is expected to drive the growth of the high temperature plastics market.
Prominent presence of high temperature plastic manufacturers, growing machinable high temperature plastics demand, and rising preference for high temperature plastic injection molding services are expected to boost the high temperature plastic sheet sales over the coming years.
What is the Growth Outlook for the U.S HTP Market?
“Increasing Usage of High Temperature Plastics for 3D Printing”
The U.S. high temperature plastics market is expected to rise at a CAGR of 6.3% from 2022 to 2032. In the transportation industry, high temperature plastics are utilized to make numerous interior, exterior, and under-the-hood components.
Growing usage of 3D printing plastics, rapid deployment of high temperature plastics in medical applications, and rising sales of high temperature plastic packaging products are driving the market growth in the U.S.
Will China Emerge as an Attractive Market for HTP Suppliers?
“Rising Developments in Electrical & Electronics Sector to Fuel China HTP Market Value”
The market for HTP in China is anticipated to increase at a CAGR of 5.8% over the forecast period, attributed to the growing demand for passenger vehicles.
Growing developments in the electrical and electronics sector, rising opportunities in the domestic sector, increasing usage of high temperature plastic sheets, pipes, tubing, paints, bags, and tanks, and rising sales of high temperature plastic bags are driving the market expansion in China.
Which High Temperature Plastic Type is Most Popularly Used?
“Fluoropolymers Maintaining Lead Owing to Superior Mechanical Qualities”
Based on product type, the high temperature plastics market is segmented into fluoropolymers, polyamides, high-performance polyamides, polyketones, polysulfones, polyphenylene sulfide, and liquid crystal polymers.
Fluoropolymers account for 31.5% of the global high temperature plastics market. A fluoropolymer is a chemical compound that carries carbon fluoride linkages. Chemical stability, mechanical and electrical insulation, heat resistance, stress cracking, and other qualities are among them.
Fluoropolymers, from coatings to industrial films, benefit from these qualities in a variety of applications. They are also used in the home, construction, and electrical and electronics. Because of their superior mechanical qualities and chemical & thermal resistance, fluoropolymers are utilised in bearing separators, gaskets, power steering, and many other automotive components.
Fluoropolymers are in high demand in the chemical sector for a variety of applications such as pumps, heat exchanger coatings, and autoclaves. This is owing to fluoropolymers' superior structural features, which include non-adhesive, low collision, non-stick, high dielectric, and chemical resistance.
Which HTP End Use Accounts for Highest Market Revenue?
“Rising Adoption of High Temperature Plastics in Electrical/Electronics Industries for Heat Prevention”
The electrical/electronics segment accounts for 33.8% share of the global HTP market and remains dominant over the other end-use segments such as automobiles, chemical/industrial, aerospace, medical, and other end uses.
High temperature plastics will be employed as heat insulators and as protective covers for electronic equipment to prevent problems caused by mechanical and thermal stress.
The heat-resistant plastics market will develop in line with the growth in the use of electrical and electronic equipment. High temperature plastics are used to protect equipment from heat and insulate it from heat-related pressures.
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High temperature plastic manufacturers are focusing their efforts on growing their businesses in new areas. While attempting to expand their customer base, market players are focusing their resources and investments on profitable end uses.
Key companies are also making plans to expand their product lines and portfolios through investments and mergers and acquisitions.
For instance :
- In 2019, SABIC industries introduced Xenoy HTX, a breakthrough high heat resin series for lightweight electrification advancements in automobile systems.
Key Segments Covered in High Temperature Plastics Industry Research
HTP Market by Product Type :
- High-performance Polyamides
- Polyphenylene Sulfide
- Liquid Crystal Polymers
HTP Market by End Use :
- Other End Uses
HTP Market by Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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