Global Polyphenylene Ether Alloy Market: Snapshot
The global polyphenylene ether alloy market is rising steadily over the years. The multiple characteristics of polyphenylene ether alloy suitable for high-value applications such as in automotive and medical industries is having a positive bearing on the global polyphenylene ether alloy market. Polyphenylene ether alloy displays characteristics such as low shrinkage, high temperature performance, high dimensional stability, and high insulation and low water absorption that are.
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Some of the key factors driving the global polyphenylene ether alloy market are rising demand for reducing the weight of automotive components for fuel efficiency, regulations in place for controlling corrosion of industrial equipment, and demand for high performance cables in electrical and electronics.
A report by Transparency Market Research forecasts the global polyphenylene ether alloy market to rise at a CAGR of 4.9% between 2016 and 2025. The market is expected to reach a valuation of US$1,951.2 mn by 2025, after it was evaluated at US$1,264.7 mn in 2016.
Remarkable Characteristics of PPE/PA Product Segment Pushes to Lead Position
The global polyphenylene ether alloy market is studied based upon product type, end users, and geography. The segments of the market based upon product type are PPE/PS, PPE/PA, and PPE/PP, and others. PPE/PA is currently the leading segment in polyphenylene ether alloy market based on revenue. This is because PPE/PA alloy contains polyamide and thus display improved toughness and increased resistance to chemical and organic solvents.
The segments of PPE/PA and PPE/PP are expected to witness favorable growth in the coming years owing to the increasing demand for recycled plastic in electrical and electronics and demand for light weight components in automobiles. Others segment comprises blends such as polycarbonate, polybutyl terephthalate, and acrylonitrile butadiene styrene.
Based upon end-use, the polyphenylene ether alloy market is segregated into automotive, electrical and electronics, industrial, and other applications. The automotive segment held a significant share of the market in 2016 followed by electrical and electronics segment.
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Regulatory Requirements for Reduced Automotive Emissions Boost Growth of Europe Polyphenylene Ether Alloy Market
The key geographical segments of the global polyphenylene ether alloy market are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
North America held supremacy in the global polyphenylene ether alloy market in 2016. Automotive is the leading end user of polyphenylene ether alloy in North America backed by the rising demand for light weight automotive components to serve the demand for fuel efficient light weight vehicles. For example, in February 2017, General Motors Company updated its Chevrolet Camaro sports car version. The newer version has lighter architecture and typically uses SABIC’s modified polyphenylene ether and carbon composite to deliver 75% cost saving.
Europe combined with Asia Pacific account for a considerable share of the consumption of polyphenylene ether alloy globally. Increasing consumer demand for specialized and sustainable products is fuelling the demand for polyphenylene ether alloy in Europe. Rising regulations on CO2 emissions and European Union’s end-of-life vehicle requirements has compelled automakers to opt for high performance material that aid in cutting manufacturing cost as well as to reduce vehicular weight. In the coming years, rising investments in the automotive sector countries such as Spain, the U.K., and France is expected to present lucrative opportunities to the polyphenylene ether alloy market. Automakers such as Renault is investing heavily for the production of electric vehicles that is expected to create substantial opportunities for polyphenylene ether alloy manufacturers.
Some of the key players operating in the global polyphenylene ether alloy market profiled in this report are Asahi Kasei Chemicals Corporation, Saudi Basic Industries Corporation, Mitsubishi Engineering Plastics Corporation, and Sumitomo Chemical Company.
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