According to the latest report published by Credence Research, Inc. “Global Polyphthalamide (PPA) Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global polyphthalamide (PPA) market accounted for US$ 790.17 Mn in 2017 and expected to reach US$ 1,481.13 Mn by 2026, expanding at a CAGR of 7.5% from 2018 to 2026.
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The global polyphthalamide (PPA) market was US$ 790.17 Mn in 2017 and expected to reach US$ 1,481.13 Mn by 2026, expanding at a CAGR of 7.5% from 2018 to 2026. In terms of volume global polyphthalamide (PPA) market was 152.58 kilo tons and expected to reach 253.84 kilo tons by 2026 at a CAGR of 6% from 2018 to 2026.
Since years, metals diecast metal parts are replaced by plastic. Functional and structural parts for various applications can now be made from thermoplastic resin such as polyphthalamide (PPA). Polyphthalamide can now be seen in large number of industries ranging from automobiles, electronic to personal care products and machines and appliances. PPA is used as an economical alternative to diecast metal parts such as aluminum, zinc and brass among other materials. Heat resistant property of PPA distinguished technical injection molded plastics through dimensional stability even at high temperatures. Apart from properties such as chemical resistance, heat resistance and flame retardant, PPA also helps in less uptake of moisture.
The global PPA market is expected to experience significant growth over the forecast period due to growing industrialization in emerging economies. Technological innovations in automotive and electronics & electrical markets are other factors driving the growth of global PPA market.
In 2017, among all the end user industries, automotive segment dominated the global polyphthalamide (PPA) market with more than 45% market share by volume and segment is anticipated to account close to 50% market share by volume in 2026. Stringent government rules and regulations regarding increasing overall fuel economy of vehicles and decreasing automotive emissions has led automotive manufacturers to increase usages of polyphthalamide automotive body-parts.
Research and development activities to replace components in automotive vehicles with light-weight materials, such as cooling and heating systems, resonators, air induction systems, charge air hoses, etc. is expected to drive the growth of the PPA market globally.
Global polyphthalamide (PPA) market is highly fragmented owing to the presence of various large and small companies. Arkema Group, Arko-Plastic GmbH, BASF SE, DuPont EI De Nemours & Co., EMS-CHEMIE HOLDING AG, Eurotec Mühendislik Plastikleri San. ve Tic. A.?., Evonik Industries AG, PlastiComp, Inc., Polyone Corporation, Propolymers, Inc., SABIC (Saudi Arabia Basic Industries Corporation), and Solvay S.A are few key players operating in the global polyphthalamide (PPA) market.