The global polyphthalamide (PPA) market is currently witnessing high growth and is projected to rise with a CAGR of 9.9% from 2019 to 2025, with the market to reach a revenue of USD 1,565.2 million by 2025. Increase in the demand from electronics & electrical segment is expected to drive the market growth.
This report provides a detailed analysis of polyphthalamide market in terms of types, and application, and current and projected market size for the period from 2015 to 2025, with 2018 being the base year, and 2019 to 2025 as the forecast duration. The market competition has been analyzed based on the wide-ranging value chain of the polyamides market and economic trends that help to increase the growth in different regions of the world. This report also covers company profiles of the leading global, regional and local players with a prominent position in the market.
Based on the type of products, the glass fiber filled segment held a revenue of USD 606.3 million in 2018, and is further expected to rise with a CAGR of over 9% from 2019 to 2025. This segment is expected to have a stronghold mainly in Asia Pacific, due to rise in the industrialization rate and growing domestic economies. Additional driving factors are increasing per capita income, growing automobile production, and advantages of glass fiber filled PPA such as better stiffness for injection moulding of small parts and use in sports equipment, and others.
Among the applications, automotive segment held a volume share of over 46% in 2018 and expected to rise with a significant CAGR by 2025. The rapid growth of middle-class population and growing disposable incomes form a key growth catalyst. The use of polyphthalamide in engine parts due to its lighter weight compared to other materials and high-temperature resistance are expected to increase the market demand for polyphthalamide in this segment. However, the rise of electric vehicles may hamper market growth, as polyphthalamide is used in engine parts, & heat exchangers, and engine is absolutely withdrawn (vanished) component from electric vehicles.
Polyphthalamide market in North America and Europe is gaining pace as these regions house some of the the major economies on the globe. Europe is one of the major hubs for automobile production. In the U.S., Solvay produces polyphthalamide, which is used in applications such as engine parts, heat exchangers, and others. Asia Pacific continues to witness a fast-paced growth at a CAGR of more than 10% during the forecast period. Asia Pacific stands as the fastest-growing region in population, economy, and industrialization, thereby supporting the market growth for PPA.
Key players in the polyphthalamide market are moving towards strategic partnerships, especially in Western part of the world. Additionally, new product developments, and extensive R&D initiatives help polyphthalamide manufacturers with opportunities in untapped regions and applications, thereby evolve and enhance their product portfolio. Some of the leading players operating in the polyphthalamide market include Solvay S.A, PlastiComp, Inc., Eurotec Muhendislik Plastikleri San ve Tic. A?, Propolymers, Inc., BASF SE, Arko-Plastic GmbH, EMS-CHEMIE HOLDING AG, Evonik Industries AG, DuPont EI De Nemours & Co., Polyone Corporation, and SABIC.