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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Plastics comprise of a wide range of synthetic and semi-synthetic materials, which are strong, moldable and lightweight in nature. Over the last couple of decades, plastics have emerged as an inseparable part of humankind, finding its application in every fathomable part of daily life. Plastics enhance comfort, convenience, and safety of products. They are modified to suit the requirement and find application used in houses such as carpets, blankets, and pillows for improved comfort; in bottles and coolers for portable means to carry food and drinks. They are also used in several electronic devices to enable Internet access and communication, and in sports and safety equipment. Improved standard of living and growing environmental awareness and sustainable development thinking among the populace are driving demand for new and innovative material plastics. Plastics that are mainly used in high temperature and high pressure applications are known as high performance plastics. These plastics show excellent performance and effectiveness on exposure to highly reactive chemicals. High performance plastics exhibit properties of high resistance to chemicals and electricity, low coefficient of friction, superior performance at high temperature, and high strength, thus considered highly superior to standard or engineering plastics. These plastics are priced premium and are usually used in very small quantities.

Fluoropolymers, high performance polyamides, sulfone polymers, liquid crystal polymers, polyketones, and polyimides are among the most commonly used high performance plastics. These materials are used in various end-use industries such as transportation, medical, and electrical & electronics.

High Performance Plastics Market Taxonomy

  • On the basis of form type, the global market is segmented into:
    • Amorphous Polymers
    • Semi-Crystalline Polymers
  • On the basis of product type, the global market is segmented into:
    • Fluoropolymers (FPS)
      • Polytetrafluoroethylene (PTFE)
      • Polyvinylidene Fluoride (PVDF)
      • Fluorinated Ethylene Propylene (FEP)
      • Fluoroelastomers
        • Polyvinylidene Fluoride (PVF)
        • Ethylene Tetrafluoroethylene (ETFE)
        • Ethylene Chlorotrifluoroethylene (ECTFE)
        • Polychlorotrifluoroethylene (PCTFE)
      • Other Fluoropolymers
    • High Performance Polyamides
      • Polyamide 11
      • Polyamide 12
      • Polyamide 9T
      • Polyamide 46
      • Polyamide MXD6
      • Polyphthalamide
      • Polyacrylamide
    • Sulfone Polymers
      • Polyphenylene Sulfide
      • Polysulfone
      • Polyethersulfone
      • Polyphenylsulfone
    • Liquid Crystal Polymers
    • Polyketones
      • Aromatic Ketone Polymers
      • Polyether Ether Ketone
      • Polyether Ketone
      • Polyether Ketone Ketone
    • Polyimides
      • Polyether-Imide
      • Polyamide-Imide
      • Polyester-Imide
  • On the basis of application, the global market is segmented into:
    • Transportation
      • Automotive
      • Aviation
    • Medical
      • Pharmaceutical & Biotechnology
      • Surgical Equipment
      • Diagnostic
      • Therapeutic System
      • Dental
    • Industrial
      • Oil & Gas
      • Power Generation
      • Water Treatment
    • Electrical & Electronics
      • Telecommunication
      • Semiconductors
      • Electronic Components
      • Display
      • Defense Electronics
    • Others
      • Defense
      • Building & Construction

Superior mechanical properties, high heat stability, and superior chemical resistance of high performance plastics have resulted in their use in the manufacturing of various exterior and interior components of aircraft and automobiles. Growing population and urbanization over the recent years, has led to an increasing demand for transportation, thus fueling growth of the automotive and aviation industries. This being the case, the transportation segment has emerged as the largest end-use segment in the global high performance plastics market. Polyketones exhibit desirable mechanical and thermo-physical properties unique to any other polymer such as high tensile and impact strength, exceptionally high abrasion resistance with minimal wear and tear and very good tribological properties. Owing to these exceptional properties, polyketones are suitable for manufacturing various products such as induction systems, fuel systems, coolant systems, powertrain, engine components, brake systems, shaft seals, pumps & valves, shaft seals, surgical equipment, sockets, biotechnology, and transmission components. Polyketones is thus, the fastest-growing product type.

High Performance Plastics Market Outlook – Asia-Pacific is the largest, and fastest-growing region, globally

Asia-Pacific is the largest, and fastest-growing region in the global high performance plastics market, due to rampant growth in the electrical & electronics industries in countries such as China, Taiwan, and South Korea, which are among the largest manufacturers of electrical & electronics components. The key factors such as growing manufacturing plants of key major players in the region, high economic growth, cheap labor, and increasing FDI in emerging economies such as India and China, are fueling growth of the high performance plastics market in the region. The growing end-use applications of high performance plastics in automotive, aviation, and medical industries, also provide great scope to the market growth in the Asia-Pacific region.

High manufacturing costs lead to the exorbitant prices of these plastics, in turn, inhibiting market growth. Some of the major companies operating in the global high performance plastics market are BASF SE, Daikin Industries, Ltd., Celanese Corporation, Solvay S.A., Arkema SA, Evonik Industries AG, Kuraray Co., Ltd., E. I. duPont de Nemours and Company, SABIC, and Victrex Plc.

Key Developments

  1. Major companies in the market are focused on various growth strategies such as capacity expansion, in order to expand their product portfolio. For instance, in April 2018, BASF SE, a Germany-based chemicals company, started a new production line for its high-temperature resistant thermoplastic ‘Ultrason’ in Yeosu, South Korea. This new production line will add 6 kiloton per annum to BASF’s polyarylsulfone production capacity and will serve Asia Pacific market.
  2. Key players in the market are adopting various business strategies such as partnership, collaboration, and agreement, in order to enhance their market presence. For instance, in May 2019, Solvay SA, a specialty chemicals company, and Stratasys entered into partnership to develop high performance filaments for Stratasys’s FDM F900 3D Printers.
  3. Major companies in the market are involved in various growth strategies such as marketing and advertising, in order to gain competitive edge in the global market. For instance, in October 2017, Kuraray, a manufacturer of chemicals and plastics, presented new Septon Bio, Eval EVOH, Mowiflex, Hybrar, and, Genestar PA9T, which are high performance plastics at 25th Fukuma Trade Show.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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