Polyphthalamide (PPA) Resin Market Analysis

Polyphthalamide Resin Market Analysis

Polymer industry is characterized by research & development and various products are being introduced from time to time. These products have improved operation capability over its predecessors and overcome the functional deficiencies of existing variants. Polyphthalamides face similar level of threat due to availability of substitute materials.

These substitutes have better temperature adaptability, superior toughness and improves moisture absorption characteristics. This will in turn negatively influence the polyphthalamide resin market growth between 2019 to 2026.

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The polyphthalamide resins are categorized into glass fiber reinforced, unreinforced plain, mineral-filled, carbon fiber reinforced and hybrid on the basis of product. Glass fiber reinforced products captured majority of polyphthalamide resin market share owing to the relatively easier availability of fiberglass and a wide range of applications in automotive, electronics, personal care, machinery, etc. These resins improve the strength & physical characteristics and help to maintain structural integrity thereby making them suitable for various automotive applications.

Based on end-user, the polyphthalamide resin market is segmented into electrical & electronics, machinery, automotive, personal care and others. The others segment includes medical, oil & gas, aerospace, sportswear, etc. In electronics industry, the product is widely used in SMT electronic components, switches, LEDs, circuit breakers, connectors & sockets, enclosures, capacitor & chip carriers, sensors, etc.

PPA resin’s excellent dimensional suitability, surface mount capability and excellent processing ability makes it an ideal choice for various electrical & electronics applications. Favorable trends associated with consumer electronics owing to rising population, increasing spending propensity of people and technological progressions will spur the polyphthalamide resin industry growth in upcoming years.

Asia Pacific is the largest hub for automotive manufacturing in the world. Many automotive giants and other players have set up manufacturing facilities in this region owing to cheap labor availability and easy access to raw materials. Automotive production is heavily influenced by technological advancements, and usages of plastic materials during production will result into increased product efficiency and cost savings.

Rapidly growing middle class population in the region, followed by increasing awareness about sustainable development will boost the product application in the region. Developments in purchase power of the regional population, especially in the fast developing economies such as China, India, Malaysia, Indonesia, Bangladesh, etc. will boost light weight and high efficiency vehicle sales as well as production in the region. This will have a favorable impact on the polyphthalamide resin market in the region over coming years.