Global Polyphthalamide Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Nov 11, 2019--
The polyphthalamide market size is expected to post a CAGR of over 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global polyphthalamide market 2019-2023. (Graphic: Business Wire)
The increasing demand for polyphthalamide in several applications is a major factor behind the growth of the polyphthalamide market. The adoption of polyphthalamide is increasing significantly in automotive, electrical and electronics, and wires and cables applications. The use of polyphthalamide as a replacement for metal components reduces overall vehicular weight and enhances mechanical strength. Polyphthalamides are also used in various applications in the electrical and electronics sector due to properties such as high temperature and creep resistance, high melting point, and superior strength. Polyphthalamide is also used in wires and cables to improve insulation capacity and longevity.
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As per Technavio, the growing popularity of bio-based polyphthalamide among end-user industries will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Polyphthalamide Market: Growing Popularity of Bio-Based Polyphthalamide among End-User Industries
The growing popularity of bio-based polyphthalamide among end-user industries is expected to be one of the key polyphthalamide market trends during the forecast period. Companies such as Arkema have produced polyphthalamide from bio-based products or renewable non-food crop vegetable feedstock. Rilsan HT is one such product offered by Arkema that reduces CO2 emissions. It used as a metal component substitute in automotive, wires and cables, and electrical and electronics applications. Similarly Solvay has introduced a bio-based polyphthalamide that is cost effective and can provide high impact performance.
“Other factors such as the innovations in polyphthalamide, and capacity expansion will have a significant impact on the growth of the polyphthalamide market value during the forecast period,” says a senior analyst at Technavio.
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Polyphthalamide Market: Segmentation Analysis
This market research report segments the polyphthalamide market by type (carbon-fiber filled, glass-fiber filled, mineral-filled, and unfilled), application (automotive, electrical and electronics, machinery and appliances, personal care, and others), and geography (APAC, Europe, MEA, North America, and South America).
The APAC region held the largest share of the market in 2019, followed by Europe, North America, MEA, and South America respectively. The growth of the polyphthalamide market share in APAC can be attributed to several factors such as extensive use of the material in automotive, electrical and electronics, and other applications.
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Some of the key topics covered in the report include:
Five Forces Analysis
Market positioning of vendors
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PUB: 11/11/2019 01:30 PM/DISC: 11/11/2019 01:30 PM