High Heat (Heat Stabilized) Glass Reinforced Polyamide 66 Market Size

High Heat Glass Reinforced Polyamide 66 Market Size

High Heat (Heat Stabilized) Glass Reinforced Polyamide 66 Market size was estimated over USD 2.6 billion in 2018 and the industry will grow by a CAGR of more than 8% up to 2025.

The global high heat (heat stabilized) glass reinforced polyamide 66 market will be augmented by increasing global sale of vehicles. This product is majorly used for making various under-the-hood components where the ambient temperature is very high. It helps in cutting the manufacturing cost and reducing the weight of the vehicle. Continuous product developments in the high heat (heat stabilized) glass reinforced polyamide 66 market to enhance its heat resistance and efficiency will have a positive influence on the product demand in the automotive sector. Increasing industrialization, growing population and improving income level of the people in the developing regions of the globe would increase the demand for high heat (heat stabilized) glass reinforced polyamide 66 during the forecast period.
 

The global automotive market has witnessed steady gains in the last decade with emerging economies accounting for a major share of the demand. Global automotive sales were recorded at more than 82 million units in 2012 which increased to around 97 million units in 2018, a growth of almost 18%. In terms of production, Asia Pacific accounted for 55% of the global production, which was mailed led by China, Japan, India and South Korea. These positive trends in the global automotive market will drive demand for high heat (heat stabilized) glass reinforced polyamide 66 during the forecast period as the product is used in manufacturing a wide range of automotive parts and components.