Polyphthalamide Market: Key Highlights

• In terms of revenue, the global polyphthalamide market is anticipated to expand at a CAGR of ~ 8% from 2019 to 2027.
• The semi-crystalline nature of polyphthalamide plays a vital role in high temperature applications. Polyphthalamide provides excellent heat resistance, high chemical resistance, and superior mechanical properties. These properties are essential in the manufacture of electrical components and automotive end-use products.
• The automotive segment accounted for a major share of the polyphthalamide market in 2018, owing to the rising trend of production of electric vehicles, sports utility vehicles, and hybrid vehicles. Technological advancements in several devices, components, and ancillaries in the automotive industry are expected to offer lucrative opportunities to the polyphthalamide market.
• Electrical & electronics is expected to be a highly attractive end-use segment of the polyphthalamide market during the forecast period. Increasing penetration of the Internet due to the emergence of 5G technology around the world is boosting the demand for smartphones, smart electronic gadgets, and consumer devices.
• Electronic manufacturers require highly reliable, heat-resistant, and moisture-resistant components to achieve a competitive advantage over their competitors. 

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High Demand for Lightweight Components to Propel Polyphthalamide Market

• The implementation of stringent government regulations to control the emission of carbon from automotive vehicles is driving the demand for lightweight polymers and their components.
• Rise in the demand for lightweight parts to achieve fuel efficiency and low carbon emission of commercial and passenger vehicles are projected to boost the demand for polyphthalamide in the near future.
• Increase in the demand for ecofriendly vehicles, such as battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles, is likely to propel the polyphthalamide market in the next few years.
• According to the International Energy Agency (IEA), the global stock of electric cars crossed the 3 million units mark in 2017. Increase in government initiatives to adopt electric vehicles over conventional fuel vehicles is a key factor projected to propel the demand for polyphthalamide during the forecast period.

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