High Performance Polymers: A $6.1 Billion Bright Spot in the Global Plastics Industry, Study Says
As plastics producers struggle with a slowing economy, rising raw material prices, and increasing competition, the one bright spot in this industry continues to be that of high performance polymers (HPP). This category has evolved rapidly over the past few years and today stands as a $6.1 billion industry, projected to grow at a CAGR of 6.1% over the next five years, according to a new global market study by Principia Partners. The study provides a baseline for this industry that spans across nine different high performance polymer families serving eight different end-markets and presents an in-depth and critical analysis of the industry.
There are eight end-markets analyzed in the study that consume different kinds of high performance polymers for various applications. A few of these include:
• Industrial, which primarily includes chemical processing, oil & gas, food processing, power plants, and water treatment is estimated at $1.4 billion of HPP consumption growing at 5.6%.
• Aerospace and defense, an end-market valued at $290 million for high performance polymers that has ever-increasing requirements around flammability, smoke, and toxicity, and is projected to grow at a CAGR of 7.1% to 2012.
• Automotive, an end-market that consumed $1.3 billion worth of HPPs in 2007, is forecasted to grow at 5.7% over the next five years with continued metal replacement and to address increasing temperature performance requirements in engine compartments.
• Consumer, where HPPs are used in a wide range of applications such as appliances, cookware, sporting goods, and other household items, is estimated to be valued at $420 million and growing at 5.2%. This area’s growth has been dampened by the economic slowdown but new application development continues at a rapid pace.
Principia Partners is an international strategy consulting firm that has closely monitored the market for plastics and specialty chemicals for over 10 years.
To read the entire report, visit: http://www.principiaconsulting.com/publishing/reports.cfm?rpt=35