Global High Performance Polymers Market Is Projected To Expand At An Impressive CAGR Of Close To 8% From 2021 To 2031

High performance polymers are widely known polymer materials for their desirable characteristics such as enhanced chemical stability, mechanical stability, temperature stability when exposed to harsh environments. High performance polymers are being used in place for traditional materials such as polymers and metal & alloys especially in the automotive industry attributed to their lightweight characteristics.

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Moreover, an increase in demand for lightweight automotive parts coupled with government-mandated policies to reduce carbon footprint is projected to drive the market growth for high performance polymers in future.

Owing to these factors, demand over the long-term forecast period can be estimated by breaking the forecast timeline into three parts.

• Short-run: Automotive industries were hit badly due to the COVID-19 pandemic owning to the shutdowns and homestay orders which is anticipated to shrink the overall demand for high performance polymers.
• Medium run: With relaxations in COVID-19 norms auto plants will be back on track and orders for engineering polymers would be received. Additionally, demand for high performance polymers is set to be observed with price normalization.
• Long run: High performance polymers market is set to grow at a CAGR of 8% over the forecast period (2021-2031).

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What are the Primary Applications that Generate Demand for High Performance Polymers?

High performance polymers mainly find their application in the automotive industry, as a replacement for traditional components. For example, powertrain system and engine components composed of high performance polymers increase the overall power output of engines with a significant reduction in high-level noises, vibrations and harness.

Additionally, the applicative properties of high performance polymers have made their use possible in weight reduction, engine-downsizing and reducing fuel consumption. Moreover, OEMs and automotive companies are coming up with innovative solutions to meet city regulations and customer expectations.

Additionally, companies are working on making safe and clean cars to enhance the mobility experience for consumers. For instance, Victrex a high performance polymers company has come up with a reliable hardware solution for autonomous and connected vehicles. These trends are expected to drive the growth of high performance polymers sales in the coming decade.

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Key Market Segments Covered

• By Product Type
  • Polyphenylene Sulfide (PPS)
  • Polyphthalamide (PPA)
  • Polyamide (PA) PA46 & PA4T
  • Liquid Crystal Polymers (LCPs)
  • Polyether Ether Ketone (PEEK)
  • Polyaryletherketone (PAEK)
  • Polyvinylidene Fluoride (PVDF)
  • Others (including Polyether Imide and Fluoropolymer)
• By Application
  • High Performance Polymers for Powertrains & Engines
  • High Performance Polymers Electrical Components
  • High Performance Polymers Interior & Exterior Furnishings
  • High Performance Polymers Under-the-Hood Components
  • High Performance Polymers Structural Components
  • Others (including Tires)
• By Region
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

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