According to a new market report published by Credence Research Inc., “Polyphthalamide Market by Type (Carbon Fiber Filled, Glass Fiber Filled, Mineral Filled and Unfilled) by Application Type (Automotive, Electronics & Electrical, Industrial Equipment & Apparatus, Consumer & Personal Care and Others)” - Growth, Future Prospects and Competitive Analysis, 2016 – 2023”, the worldwide polyphthalamide (PPA) market was valued at US$ 731.94 Mn in 2015. In the same year, in terms of volume the market was 144.42 kilo tons.
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The global polyphthalamide (PPA) market is projected to experience significant growth over the forecast period due to increasing demand for light weight automotive components. Rise in demand from electronics and electrical segment is another factor contributing towards market growth. Polyphthalamide is very resistant to chemicals and exhibits minimum changes in physical properties after moisture uptake; this is very vital in electrical and electronics fields when components undergo lead-free reflow soldering and functional parts must have extremely good dimensional stability. These include connectors, micro switches and micro sensors, and even semi-conductor components such as the reflector housings of light-emitting diodes (LED).
However, owing to high production cost of polyphthalamide (PPA) when compared to other thermoplastics nylons they are highly being utilized for high end applications which acts as the major factor restraining the market growth. Rise in disposable income, shift in trend towards more technologically advanced products, strong vehicle production growth along with rising demand for high end cars, especially from emerging economies such as India, China, Brazil and Malaysia among others offers huge untapped market potential.
New product development is one of the major areas being focused by the companies intended to offer better and efficient components especially for portable devices. This is majorly intended to offer sustainable solutions to various end users especially automotive manufacturers. Some of the key players present in this market are EMS Chemie Holding AG, Solvay S.A., DUPONT EI DE Nemours & Co., Arkema S.A., Evonik Industries AG and SABIC among others.
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- Rise in demand from automotive and electronics & electrical application
- New product development is one of the major areas being focused by the companies
- Emerging Economies offers huge untapped market potential
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