With the increasing use of lightweight auto parts for vehicles across the globe, the global Polyphthalamide resin market is projected to witness a lucrative growth rate over the forthcoming period. Growing consumption of polyphthalamide resins for use in electrical and electronic applications will further push the product sale until 2026.
Polyphthalamide (PPA) resin is an innovative polyamide that is stronger, stiffer, retains minimum sensitivity to moisture, and has a higher thermal capacity. These resins are suitable for a wide range of applications due to their outstanding electrical, physical and thermal attributes. PPA can also successfully withstand infrared soldering conditions.
In addition, increasing prices of metal, their susceptibility to corrode and growing carbon emission norms across the globe are pushing several automobile manufacturers in switching their need for lightweight and sturdy auto parts. PPA resins have exceptional resistance to higher temperatures as well as various fluids and chemicals. This makes them an ideal choice for under the hood automotive applications.
The increasing product usage as part of industry efforts to reduce vehicle weight is also likely to boost the PPA resin market during the projected timeline. Glass fiber strengthened PPAs are witnessing the highest demand, particularly from the automotive sector, owing to their toughness, exceptional strength and dimensional stability.
With respect to the product landscape, PPA resin market is divided into carbon fiber reinforced, glass fiber reinforced, hybrid PPA resins, minerals filled, and unreinforced plain. Among these, the carbon fiber reinforced products are mostly deployed in applications where dissipation of static charge is involved. Carbon fiber reinforced PPA resin market size was valued at over $185 million in 2018.
These products boast of minimum moisture absorption, creep resistance, as well as an excellent dimensional stability. These features are likely to further drive the polyphthalamide resin consumption in the upcoming years.
With respect to end-use industry spectrum, the PPA market is bifurcated into automotive, personal care, electrical and electronics, machinery and others like sports equipment, medical grade plastics, oil & gas and drinking water pipe, etc.
Among these, the polyphthalamide resins have a diverse range of applications in automotive industry since they provide solutions that are cost-effective for numerous applications. This sector anticipated to be seen growing at an impressive rate of about 6% through 2026.
The product also finds use in thermostat housings, brake booster piston/valves, engine water jacket spacers, connectors and fuel cutoff valves, which would further help in catering the demand which is expected to grow in the coming years.
From a regional frame of reference, the Europe polyphthalamide resin market will receive a boost from the region’s mature automotive manufacturing sector, particularly in countries like France, Italy and Germany. The entire region represented more than 20% of the overall automotive production back in 2018.
EU has also introduced several legislations and regulations to control the emission levels of CO2 from automobiles. Owing to these norms, the amount of emissions has been reduced substantially. This in turn has promoted the lightweight automotive plastic usage and would further stimulate the PPA resin market during the projected timeline.
The competitive landscape of global polyphthalamide resin market includes companies like Royal DSM, Solvay, Akro Plastics, DuPont, EMS-Chemie, Arkema and Evonik Industries among others. In the years ahead, PPA resin market players are likely to witness numerous growth opportunities on account of the product’s increasing deployment across a spate of end-use industries.