PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279895
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279895
Global High Performance Plastics Market is valued at approximately USD 22.86 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 9.20% over the forecast period 2023-2030. The Global High-Performance Plastics Market refers to the market for specialized polymers that exhibit exceptional mechanical, thermal, and chemical properties. These high-performance plastics are designed to operate under extreme conditions, such as high temperature, high pressure, and corrosive environment. The major driving factors for the Global High Performance Plastics Market are the growing demand for electric and hybrid vehicles and the growing demand for high-performance plastics in the packaging industry. Moreover, advancements in material technology and an increasing focus on sustainability is creating a lucrative growth opportunity for the market over the forecast period 2023-2030.
Growing demand for electric and hybrid vehicles, which require high-performance plastics to reduce weight and improve fuel efficiency. According to a report by the International Energy Agency, the global electric car fleet exceeded 10 million vehicles in 2020 and is expected to reach 145 million by 2030. Furthermore, in March 2021, General Motors announced that it would increase its investment in electric vehicles to USD 35 billion by 2025, and launch 30 new electric vehicles globally by the end of 2025. Similarly, in June 2021, Ford announced that it would increase its investment in electric vehicles to USD 30 billion by 2025 and that electric vehicles would make up 40% of its global sales by 2030. However, the high cost of High Performance Plastics stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global High Performance Plastics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America region is a significant contributor to the High Performance Plastics market due to the presence of major end-use industries such as aerospace, automotive, and electronics. The increasing demand for lightweight and durable materials in these industries is expected to drive market growth in the region. Asia Pacific region is expected to witness significant growth in the High Performance Plastics market due to the increasing demand from end-use industries such as automotive, electronics, and construction. The growing population, rising disposable income, and increasing urbanization are expected to drive the demand for high-performance plastics in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable