According to Stratistics MRC, the Global High Temperature Plastics Market is valued at $9.78 billion in 2015 and is expected to reach $16.96 billion by 2022 growing at a CAGR of 8.2%. Growth of aerospace industry is the key factor favoring the market growth. Moreover, factors such as increasing use of plastics as a replacement of conventional materials and improved economic conditions are fuelling the market growth. Additionally, the robust demand for high temperature plastics is due to rising investment in R&D by many key players to develop new applications and products. The market is restraining due to high cost of high temperature plastics.
Fluoropolymers is the largest segment, holding around half of the share of global market in 2015. Asia Pacific dominates the global high temperature plastics market due to rapid growth in automotive and aerospace industry. The emerging economies such as China, India and Brazil are growing at a quick pace because of the growing domestic demand.
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Some of the major players in the global high temperature plastics market include Sabic Innovative Plastics, The Solvay Group, Honeywell International Inc., E. I. DU Pont De Nemours and Company, BASF, Celanese Corporation, Bayer Material Science AG, Solvay S.A., Evonik Industries AG, Chevron Phillips Chemical Company, Victrex PLC, Dongyue Group Ltd., The Dow Chemical Company, Dic Corporation, Arkema SA, Eastman Chemical Company, Daicel Chemical Industries Ltd., and Rhodia Engineering Plastics.
Plastic Types Covered:
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