The high temperature plastics (HTPs) market has been forecast to hit a value of $12.1 billion by 2018, driven primarily by technological innovations in material strength and functional characteristics and a healthy demand in developing countries.
High Temperature Plastics (HTPs), a specialised category of plastics exhibiting heat deflection temperatures in excess of 200°C, are one of the rapidly growing sectors of the plastics industry.
Exceptional chemical and heat resistance capabilities of these materials are driving manufacturers to use HTPs as substitutes for metals in various end-use applications across aerospace, medical, automotive, electronics and electrical industries.
Growth in the HTPs market declined in 2008 as a result of the global economic crisis that softened demand in all end-use sectors.
North America, Japan, and Europe were among the worst hit by the recession. Currently, the pace of recovery in developed economies remains overcast amidst weak consumer confidence and contraction in economic growth as a result of fiscal austerity policies.
Developing countries are expected to drive future growth in the market led by rising GDP, rapid pace of industrialisation and increasing manufacturing and industrial output.
Fluoropolymer, a specialised polymeric material with unique performance characteristics, represents the largest product market. Growth in this market is driven by product innovation, expansion in applications areas, developments in advanced application processes and strong demand from emerging markets.
North America is the leading fluoropolymers market with growth led by growing consumption in the wire and cabling end-use market, where fluoropolymers find use as primary insulation material and as jacketing material. Increasing demand from cookware, medical, chemical processing, and bakeware markets is also expected to spur growth in the market.
Among the various types of fluoropolymers, PVDF (PolyVinylidine DiFluoride) and FEP (Fluorinated ethylene-propylene) offer robust opportunities for growth. Demand for PVDF is expected to grow driven by its increasing use in architecture coatings, lithium-ion batteries and fiber optic cables.
For more information on the high temperature plastics market, see the latest research: High Temperature Plastics Market
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