Polyphthalamide (PPA) Resin Market to exceed $1.9 Billion by 2026
Published Date: January 24, 2020 Authors: Kiran Pulidindi, Soumalya Chakraborty
According to a new research report by Global Market Insights Inc., the Polyphthalamide (PPA) Resin Market size is expected to surpass $1.9 billion by 2026.
Polyphthalamide resin is a high heat-resistant polyamide synthesized by the reaction of aromatic diacids and aliphatic diamines. The raw materials required for the production of polyphthalamide resins are isophthalic acid, terephthalic acid, aliphatic diamines, etc. These raw materials are mixed with required catalysts, along with capping agents and comonomers in a reactor with presence of water. This provides high mechanical strength and chemical stability which enhances its application in electronics sector, as a suitable replacement for metals and other engineered plastics.
Positive outlook of electrical & electronics industry will trigger product sales
PPA resins are widely used in electrical & electronics sector for making automotive electronics, mobile telephone parts, connectors & plugs, bulb & LED sockets, etc. These resins’ ability to resist infrared soldering environment offers them added advantage over other resins. The demand for electronic products is increasing rapidly owing to rising population, changing consumer preferences and high disposable income levels. Moreover, various countries are investing huge amounts of money and formulating supportive polices to accelerate the pace of electrical & electronics industry. Such trends will bolster the polyphthalamide resin market share during the forecast time span.
Increasing popularity of personal care products will facilitate the market growth
Polyphthalamide resin is used in numerous personal care formulations due to its astounding benefits. It is less likely to generate redness, stinging and burning sensations. It can be used to produce protective films and regulate moisture content within personal care products. In addition, it is used to produce bristles of toothbrush and hairbrushes. Increasing demand for personal care and hygiene products all over the world will propel the polyphthalamide resin market growth in upcoming years.
Browse key industry insights spread across 155 pages with 149 market data tables & 20 figures & charts from the report, “Polyphthalamide (PPA) Resin Market Size By Product (Unreinforced Plain, Glass Fiber Reinforced, Carbon Fiber Reinforced, Mineral-Filled, Hybrid), By End-User (Automotive, Electrical & Electronics, Machinery, Personal Care), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
Unreinforced plain PPA resins will grow with a CAGR over 6.5% by 2026. These resins provide excellent strength and impact performance over a wide range of temperatures. Unreinforced plain PPA resins are used for applications where high lubricity, superior surface gloss, good mechanical performance and improved warpage are required. These factors will catapult unreinforced plain polyphthalamide resin market demand in various applications in automotive, machinery, electronics, etc. in upcoming years.
Machinery segment will cross over USD 250 million till the end of forecast period. Polyphthalamide resins are used for production of motor frames, bearing & bearing cages, chemical processing equipment components, press fit components, housings, etc. Industrialization, huge investments and supportive policies will augment the polyphthalamide resin market within this sector in upcoming years.
North America polyphthalamide resin market to exhibit promising growth trends
In 2018, North America captured considerable share in the market and will continue its strong growth in the near future. The primary reason behind this strong growth is favorable trends associated with the regional automotive industry. Many automotive manufacturers in this region are opting for the PPA resins over metals. Additionally, governments’ financial support in conjunction with technological progressions will boost automotive production in the next few years. This, in turn, will spur the PPA resin market growth in the near future.
Key players involved in the polyphthalamide resin industry include multinational giants such as Solvay, DuPont, BASF, Evonik, Arkema, etc. The market is highly consolidated with the top players accounting for a vast majority of the overall share.
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