Sep 20, 2022, 01:14 EST
Shibuya-ku, Tokyo, Japan, Japan, Sep 20, 2022, 01:14 /Comserve / -- In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this High Temperature Plastics
High Temperature Plastics are those plastics which are generally used for applications with high temperature requirements, generally above 150⁰ Celsius. Various market players in the high temperature plastics market are investing extensively in R&D to develop more innovative products and to expand the applicability of existing products. The high temperatuire plastics market is projected to reach $13,317.95 million by 2031.
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This report provides a comprehensive analysis of the high temperature plastics market. It categorizes the high temperature palstics market based on type, application, and geography. By type, fluoropolymers are estimated to be the largest in 2022, and are projected to grow with the increasing demand in automotive & aerospace industry. The use of high temperature plastics to replace conventional materials such as metals, ceramics and traditional palstics is a key driver of the market. The growth in the market is also highly influenced by the economic conditions and the improving economic conditions have also boosted the demand for high temperature plastics in various end-use industries.
The market size of each region such as North America, Europe, Asia-Pacific, and Rest of the World (RoW) is projected for 2031 in the report. The report also segments the regions into countries such as U.S., U.K., France, Germany, China, India, Japan, Brazil and others with a forecast of their market size along with their growth rates.
The leading players in the high temperature palstics market such as Solvay S.A. (Belgium), SABIC Innovative Plastics (The Netherlands), E. I. du Pont de Nemours and Company (U.S.), Celanese Corporation (U.S.), Victrex plc. (U.K.) and others are profiled in the report. The key players in this market have adopted various strategies to strengthen the market position and increase their market shares. New product launches and expansion are some of the main strategies adopted by the market players to achieve growth in the high temperature plastics market. New product launches accounted for 51.7% of all the growth strategies adopted by the players during the review period of 2022 to 2031.
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The high temperature palstics market is segmented on the basis of application that includes electrical & electronic, transportation, industrial, medical, and others. The demand for high temperature plastics in transportation end-use segment accounted for the largest share in 2022. Asia-Pacific is the largest consumer of high temperature plastics in 2022, followed by the North American region.
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