Automotive and Electronics High Value-grab Opportunities for Polyphthalamide Market, Valuation to Reach ~ US$ 2.5 BN by 2027

ALBANY, N.Y., Dec. 1, 2020 /PRNewswire/ -- The abundant demand in the polyphthalamide market stems from the trend of end-use industries utilizing the salient features of the resin and its composites. Most prominently, they have emerged as a potential alternative to metals in automotive bodies, paving way to vast uptake in SUVs and electric vehicles. Some of the key characteristics utilized by end-use industries are flame-retardant nature, remarkable heat resistance, and low electricity modulus, notably in the electronics industry.

Analysts at TMR concur that key market participants should undertake extensive research and development on modifying the properties of polymers to develop alternative for metals. Some of the key materials used in reinforcement are carbon fiber, minerals, and glass fiber. They assert that players must tend to manage the variability of raw material cost to emerge as winner.

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Globally, the polyphthalamides market is expected to clock CAGR of ~8% during 2019 – 2027, and is projected to touch the mark of ~ US$ 2.5 Bn.

Key Findings of Polyphthalamide Market Report

• Of the various end-use industries, automotive held the leading share in 2018
• Electronics and electrical segment considered as highly lucrative segment
• Asia Pacific held the leading share in 2018
• The Asia Pacific polyphthalamides market expected to clock CAGR of ~ 8% from 2019 to 2027
• Of the various grades, glass fiber reinforced segment held the leading share in 2018
• Another segment carbon fiber reinforced PPA is a promising segment and is anticipated to clock CAGR of 8.5% from 2019 to 2027
• Globally the polyphthalamides market was pegged at ~ US$ 1.3 Bn in 2018.

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Polyphthalamide Market: Key Driving Factors and Promising Avenues

• The demand for lightweight materials is a key trend boosting the utilization of PPA and its composites, thereby spurring revenue generation in the polyphthalamides market. For instance, PPAs are extensively used in motor valves, fuel line systems, and vehicle parts, where glass fiber reinforced polyphthalamide has emerged as a promising candidate.
• Growing pace of sales of electric vehicles has spurred the prospects in the market. Rise in adoption of ecofriendly vehicles in several economies is boosting the polyphthalamide market.
• Growing utilization of PPA in high-temperature and moisture-resistant applications in the electrical and electronics industry has bolstered the prospects of the polyphthalamide market.
• Rise in demand for consumer devices notably smartphones has also fueled the uptake of PPA and PPA composites.
• Advances made in resin manufacturing technologies has enabled manufacturers of PPA carve out new business propositions in various end-use applications. They are increasingly leaning on end-use-specific modifications.
• High demand for bio-based polymers has created a new avenues in the polyphthalamide market. This will also help expand their application areas.

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Polyphthalamide Market: Regional Landscape

On the regional front, Asia Pacific held more than half of the share in the polyphthalamide market in 2018. The growth is propelled by the proliferating use of PPA and its composites in the electronics and automotive industry. China has emerged as the forefront and is expected to retain its lead. A number of market participant are leaning on expanding their product lines by unveiling glass fiber reinforced and carbon fiber reinforced PPAs with versatile properties.

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Top players in the polyphthalamide market are keen on consolidating their global shares by strengthening their presence in Asia Pacific. A large revenue share comes from the strides made in the semiconductor industries in South Korea, Japan, and Taiwan.

Europe is a lucrative region after Asia Pacific, where automotive manufacturing companies are utilizing PPA in making automotive lightweight as well as meeting various other characteristics.

Polyphthalamide Market: Key Impediments

Volatility in raw material process is a key challenge for all players. Also, since the polymer industry has to face stringent regulations pertaining to its carbon emissions, stakeholders need to be cautious of complying with the norms.

Some of the key players in the polyphthalamide market are SABIC, RTP Company, Inc., Solvay S.A., Evonik Industries AG, and EMS-GRIVORY.

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Global Polyphthalamide Market by Grade

• Unfilled
• Glass Fiber Reinforced
• Carbon Fiber Reinforced
• Mineral-filled
• Hybrid

Global Polyphthalamide Market by End Use

• Automotive
• Electrical & Electronics
• Industrial Equipment & Apparatus
• Personal Care
• Others (Medical and Sports)

Global Polyphthalamide Market by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Russia & CIS
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• ASEAN
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa

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Polyphthalamide Resin Market - Polyphthalamide (PPA) is an aromatic and semi-crystalline polyamide. It possesses competitive physical properties compared to its counterparts such as nylon 6/6. PPA is stronger and stiffer compared to other polyamides and possesses high thermal capabilities. Furthermore, it is less sensitive to moisture and has substantial creep resistance and chemical fatigue. PPA resin is used in an extensive range of applications due to its exceptional thermal, electrical, and physical properties. The resin offers resistance to infrared soldering environments, unlike many other resins. Moreover, PPA is cost-effective compared to other polyamides. The competitive advantages of PPA mentioned above are expected to drive the polyphthalamide resin market during the forecast period.

Glass-fiber Reinforced Polyphthalamide (PPA) Market - Advancements in the automotive industry is one of the key factors driving the global glass-fiber reinforced polyphthalamide market. Glass-fiber reinforced PPA resin is widely used in the manufacturing of automotive components. Recent advancements in the consumer electronics industry are expected to propel the demand for glass-fiber reinforced PPA. Applications of glass-fiber reinforced PPA in consumer electronics such as LED packaging and mobile electronics are likely to boost its demand. Rising investments in the oil & gas exploration activities by various governments are anticipated to enhance the demand for glass-fiber reinforced PPA owing to its applications in drilling fluids.

Glass Fibers Market - The potential for the global glass fibers market lies in the expanded application extent of fiber glass. They are broadly utilized as a part of the automotive industry in new parts as they prompt lower tooling cost when contrasted with customary materials, for example, metals. Also, the material is utilized as a part of an assortment of other application industry, for example, hardware, aviation, energy and purchaser industry. Different substantial organizations are reliably enhancing new products which would build the application extent of glass fibers. Furthermore, the expanded spotlight on energy preservation in the construction industry, has prompted higher accentuation on usage of glass fibers as they give unrivaled protection properties at an ostensible cost. These are key factors which could prompt sellers profiting by the market opportunity, energizing market growth.

Pultrusion Market - The global and Europe pultrusion market was valued at US$ 2.08 Bn in 2018 and is anticipated to expand at a CAGR of ~11% during the forecast period. Based on fiber type, the glass fiber segment held dominant share of the global and Europe pultrusion market in 2018, primarily due to lower price of glass fiber than that of carbon fiber. In terms of end use, the industrial segment accounted for major share of the global and Europe pultrusion market in 2018. Demand for pultruded products is high in automotive, transportation, and electronics industries. Based on form, the roving strands segment constituted significant share of the global and Europe pultrusion market in 2018, due to better coverage compared to mats and fabrics. In terms of resin type, the unsaturated polyester resin segment constituted significant share of the global and Europe pultrusion market in 2018, due to its effective flame retardancy and high pultrusion speed. The pultrusion market in Germany is likely to expand at a substantial pace during the forecast period, owing to high investments in automotive and transportation industries.

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