June 01, 2020
According to recent study titled ‘Polyphthalamide (PPA) Resin Market Size By Product, By End-User, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026’, available with Market Study Report LLC, global polyphthalamide resin market to record substantial growth through 2026.
Upsurge in demand for lightweight auto parts to improve fuel efficiency of vehicles and lower carbon emission levels, along with continuous expansion of electrical & electronics sector are the major growth drivers of global polyphthalamide resin market.
Polyphthalamide (PPA) resin is an innovative polyamide which is stronger and stiffer while having low moisture sensitivity, high thermal capacity and superior resistance to electricity, making it suitable for a wide range of applications.
Increasing cost of metals, their susceptibility to corrosion, and strict carbon emission norms across the globe are compelling automakers to incorporate lightweight and sturdy auto parts made from PPA, further boosting the industry growth.
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Based on the product type, carbon fiber reinforced segment accounted for USD 185 million in 2018 and is expected to witness modest growth in the coming years. The product is mostly employed in applications where static charge dissipation is involved. Minimum moisture absorption, superior dimensional stability and creep resistance are the key benefits fueling the product demand.
Speaking of the end-user spectrum, polyphthalamide resin market share from automotive sector is estimated to record a healthy growth rate of over 6% throughout the forecast duration. Wide ranging applications and high cost-effectiveness of PPA resin is fostering the product demand across the automotive industry. It’s applicability in thermostat housings, engine water jacket spacers, brake booster piston/valves, connectors and fuel cutoff valves will continue to stimulate the segment share in the ensuing years.
Considering the geographical landscape, Europe polyphthalamide resin market is anticipated to see considerable growth over 2019-2026, owing to high demand from well-established automotive manufacturing sector, especially in countries like France, Italy and Germany. Moreover, implementation of several legislations and regulations regarding carbon emissions are promoting lightweight automotive plastic usage across the region, thus enhancing the PPA resin industry growth.
Key players operating in global polyphthalamide resin market are Arkema, Solvay S.A., Ems-Chemie, BASF SE, DuPont De Nemours, Inc., Akro-Plastic GmbH, Evonik Industries AG, and Royal DSM.