Polymers and Advanced Materials
India ABS market for automotive POP application to procure massive returns by 2024, increasing product deployment in wheels & emblems to characterize the industry outlook
The ABS market for automotive plating on plastics application has, of late, been experiencing appreciable growth on account of the product utilization in manufacturing automotive grills. Essentially used in automotive systems including front grills, radiator and air conditioning, these grills form a pivotal component of the deployment spectrum of the ABS industry for automotive POP application, owing to the product’s durability and high corrosion resistance.
U.S. ABS Market Size for Automotive Plating on Plastics (POP) Application, By Application, 2017 & 2024, (Kilo Tons)
An influx in the implementation of quality standards in automobile manufacturing has been observed lately, in order to increase passenger safety. Owing to the beneficial attributes of ABS, which includes element rigors withstanding and chemical resistance, the demand for this product has only been increasing in automobile component manufacturing, which will gradually propel the growth of the ABS market for automotive plating on plastics application.
Moreover, supportive initiatives from the governments worldwide, pertaining to the utilization of ABS will further steer the growth of this industry in the years to come. Say for example, the FDI policies implemented by the Government of India have been helping several foreign automotive industry players in establishing manufacturing units in India, thereby boosting domestic production. Given the low labor and production costs, the manufacturing of automobiles in the region would gradually help boost the India automotive industry, the impact of which would be marginally felt across the regional ABS market for automotive plating on plastics application. As a matter of fact, the India ABS industry size for automotive plating on plastics application has been touted to register a CAGR of 7% over 2018-2024.
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The global ABS market trends for automotive plating on plastics application have been touted to thrive successfully in the years ahead, on account of the broad application spectrum of the product in automotive component manufacturing. The paragraphs below offer a precise gist of the application landscape of this industry, that would help justify the remuneration that the global ABS market for automotive plating on plastics application is estimated to garner by 2024.
Unveiling ABS market trends for automotive plating on plastics application from wheels:
The deployment of ABS in wheel production is expected to majorly propel this industry in the years to come – indeed, wheels are anticipated to emerge as one of the most lucrative application avenues for the ABS market for automotive plating on plastics application. Citing a regional instance, driven by heavy investments, the tire industry in India contributed to around 3% of the manufacturing GDP, while the whole automotive sector accounted for 7.1% of the GDP and about 49% of the country’s manufacturing GDP in FY 2015-16. This inherently proves that tire manufacturers in India are on the verge of modernizing their production methods, powered by the demand and supply graph, which has been found to have a direct impact on automobile sales. The trend has indeed been found to have a global presence, indicating that the demand for ABS to be used in wheels will only serve to increase in the years ahead, majorly driving the overall ABS industry for automotive POP application from wheels.
The latest trends in the automotive space also include an extended focus on better traction and low rolling resistance to increase on road performance and fuel efficiency, and inclusion of more radials that consume less fuel. This has necessitated the incorporation of several advancements in tire manufacturing, driving the ABS market size for automotive plating on plastics application from wheels.
Unveiling ABS market trends for automotive plating on plastics application from emblems:
As per reliable reports, the demand for ABS in emblem manufacturing is forecast to consistently increase in the years ahead. Quite overtly, this growth could be accredited to the massive expansion of the automotive industry that has been demanding enhanced emblems of late, pertaining to changing consumer demands. Given that these components are basically deployed by automobile manufacturers to showcase the brand logo and attract a wider consumer base, it has become vital to ensure high-grade aesthetics and advancements in product design and development.
Several global emblem manufacturers like Elektroplate, Billet Badges, and more, are found to have been engaged in designing and manufacturing custom badges and emblems. This has consequently surged the demand for ABS for POP application given the attributes of ABS such as a glossy finesse, light weight, and easy adherence to metal. As per estimates, the global ABS industry share for automotive POP application is anticipated to register a CAGR of 6% over 2018-2024.
Endorsed by a broad application terrain, the ABS market for automotive plating on plastics application is estimated to showcase a highly profitable remuneration graph in the upcoming years. As per estimates, the valuation of ABS market for automotive plating on plastics application would cross US$2 billion by the end of 2024.
Author Name : Saurav Kumar
Polyetherimide market valuation to soar high from automotive applications, global industry to be valued over USD 800 million by 2025
The growth of the global polyetherimide (PEI) market is likely to be influenced by the changing environmental regulations and the rising awareness about manufacturing eco-friendly products. Some of the major factors that would help augment the demand for PEI in the future are its inherent characteristics, which include high strength & rigidity, a continuous use temperature of 180°C, good electrical properties, dimensional stability, long-term heat resistance and foremost, its ability to emit less smoke when exposed to open flame. These properties make PEI an ideal candidate for a plethora of applications in numerous industrial sectors.
U.S. Glass Fiber Reinforced Polyetherimide Market Size, By Application, 2018 & 2025, (Kilo Tons)
Among the application sectors of PEI, the most prominent one is the automobile industry. The product’s favorable properties make it ideal for manufacturing different automobile components. That said, PEI’s impressive long-term creep resistance, which prevents it from moving out of place or completely deforming under different types of mechanical stresses, also makes it a must-have thermoplastic in the automobile manufacturing domain, further augmenting the overall growth of the PEI market in coming years. An intrinsic discussion on the same is enlisted below:
Global polyetherimide market | Impact of increasing PEI applications in the global automotive industry
There once was a time when plastics were just considered cheaper alternatives for producing non-critical automotive components and were relegated to make vehicles lighter & more affordable by replacing materials previously used for aesthetics. However, significant advancements in the industry have completely upended that notion, with these materials now being considered on-par with different metals in a majority of cases. Moreover, with metal-to-plastic conversion gaining mass acceptance, wherein metal automotive parts such as gears, bumpers, interiors, as well as fuel systems are being replaced with components made out of Injection molded plastics, thermoplastics like PEI have successfully established a unique application niche for themselves in the automotive industry.
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Furthermore, the introduction of an increasing number of government mandates pertaining to vehicle manufacturing, which aim to considerably dampen the industry’s overall impact on the environment, would be further augmenting the role PEI plays in the automotive sector. Driven by the fact that the material will continue to be deployed for lowering vehicle weight & enhancing fuel efficiency, the global PEI market size from automotive applications is projected to surpass the $290 million renumeration mark by 2025.
Global polyetherimide market | Impact of the expanding additive manufacturing industry
While the automobile industry is a prominent marketplace for polyetherimide, the additive manufacturing (AM) industry is also a rather vital avenue that brings the high-performance amorphous polymer to several industrial sectors. The global additive manufacturing industry is an extremely powerful nerve center that is rapidly changing the way enterprises are manufacturing parts & products for various industries.
According to the United Parcel Service & the Consumer Technology Association, the 3D printing industry is poised to garner substantial remuneration by year 2020 due to the ability of the technology to manufacture extremely complex geometries. These are rather difficult and sometimes impossible to achieve through conventional manufacturing methods, making AM a significantly more distinguished mass-production method in different industries.
Moreover, strongly contributing to its capability of easily producing complex geometries is the fact that AM significantly eliminates the additional costs that are associated with producing complex components. This cost-effectiveness coupled with the powerful manufacturing capabilities make PEI-based components exceedingly more approachable across the industrial domain, ranging from the automobile and consumer electronics to the demanding aerospace industry.
Furthermore, PEI’s ability to withstand a number of different chemicals such as fully halogenated hydrocarbons, automotive fluids, aqueous solutions & alcohols further allow automotive & aerospace enterprises to effectively utilize AM to easily create complex internal components. This would in consequence, further expedite the global PEI market share from additive manufacturing applications.
It is rather discernible that the global polyetherimide (PEI) market would gain momentum across myriad geographies in the years ahead, given the product’s highly favorable properties and its subsequently widespread application spectrum. In fact, according to a Global Market Insights, Inc., report the overall polyetherimide (PEI) market size is projected to surpass the $800 million renumeration mark by 2025.
Author Name : Akshay Kedari
A brief outline of the global neoprene market through a regional frame of reference, APAC to remain a dominant industry player over 2019-2025
The global neoprene market is slated to significantly augment its remuneration portfolio in the forthcoming years owing to the proliferating automotive & construction sectors. Invented back in 1930 by a team of scientists at the DuPont company, neoprene is noted to be the world’s first successful synthetic-rubber product as it is considerably more resistant to water, heat, solvents and oils than natural rubbers, making the product highly significant.
U.S. Neoprene Market Size, By End-user, 2014 – 2025 (USD Million)
Indeed, it has been reported that immediately post its invention, the neoprene that was mass-produced in the U.S. had been deployed for war purposes, for manufacturing components such as fan belts, tires, gaskets for vehicles, seals and different types of gear. The discovery of the process of vulcanization further enhanced neoprene by making it melt-resistant & more elastic. Today, neoprene is widely used across a plethora of applications ranging from soft exercise weight coatings, wetsuits and automobile tires to sheathing bridge cables & bearing pads and sealing multi-story building floors.
The product’s high tensile-strength coupled with its uncanny ability of withstanding heat, chemicals and weather degradation makes it an extremely important commodity for a number of industrial sectors. Neoprene is projected to maintain its position as the go-to family of synthetic rubbers for a number of applications that would help fuel the expansion of the global neoprene industry in the coming years.
Global neoprene market | The contribution of North America toward industry growth
According to the American Automotive Policy Council, automobile manufacturers, along with their suppliers, are America’s biggest manufacturing sectors and are responsible for approximately 3% of the nation’s GDP. The sector is also known for the sheer number of job opportunities it creates, helping the government drive the nation’s economy.
Apart from being the country’s biggest manufacturing sectors, the U.S. automobile industry is also its largest exporter. In fact, between 2014-2018, American automobile manufacturers exported over $692 billion worth of vehicles as well as vehicle parts, which is approximately $50 billion more than the nation’s next biggest exporter, the aerospace industry. The exponential growth graph of the U.S. automotive and aerospace sectors would be majorly responsible for propelling the North America neoprene market over 2019-2025.
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The regional terrain is also expected to gain momentum from the fact the Canada neoprene market is experiencing significant growth since the last few years owing to the sharp expansion curve of the winter tire market in the country. According to a 2018 report by the Tire and Rubber Association of Canada (TRAC), the winter tire segment of the overall tire industry has depicted an impressive annualized rate of 4.5% over the previous six-year-period. The expanding automobile industry across the U.S. and the growing winter-tire consumption rates in Canada are expected to be the primary driving factors fueling the commercialization spectrum of the North America neoprene market over the upcoming years.
Global neoprene market | Impact of APAC’s lucrative automotive & construction sectors
Home to some of the world’s biggest emerging economies, India and China, APAC is touted to be a dominant neoprene market player owing to the sheer volume at which the region’s automotive & construction industries consume neoprene products on an annual basis. According to the India Brand Equity Foundation (IBEF), in financial-year 2017-18, India’s automobile components sector accounted for approximately 2.3% of the nation’s GDP and employed more than 3 million individuals – directly and indirectly.
The nation’s automobile components industry has been experiencing robust growth in recent years and even recorded a $51.2 billion turnover in FY18 – a valuation that is anticipated to surpass the $200 billion mark by FY26. This would consecutively establish India as one of the most lucrative investment grounds for neoprene market players, thereby propelling the expansion scale of the APAC industry.
Apart from emerging economies, APAC is also home to a number of well-established economies, including Japan, Singapore, South Korea, New Zealand & Australia. Japan, touted to be among the world’s top 3 automobile manufacturers, would be another prominent neoprene market for APAC over the forthcoming years. Meanwhile, Australia’s construction industry has been slated to be responsible for further propelling the regional neoprene market share, owing to the Australian Government’s 2019 Infrastructure Priority List, which has picked out 121 nationally significant projects and has proposed a multibillion dollar budget to upgrade or develop the nation’s infrastructure. Amidst this backdrop, it comes as no surprise that the Asia Pacific neoprene industry is touted to record the highest CAGR over 2019-2025.
Attributing to these proliferating regional trends, the global neoprene market has been projected to emerge as one of the most lucrative remuneration grounds globally. Powered by the consistent expansion of the global automobile & construction industries, the overall neoprene market size would be surpassing the $2.28 billion mark by 2025, claims a report by Global Market Insights, Inc.
Author Name : Akshay Kedari
Germany polyphenylsulfone market to record extensive proceeds by 2025, rising product adoption by the medical sector to expedite the regional landscape
The popularity of the global polyphenylsulfone market has grown considerably in the past few years, with the proliferating application of the product in the medical, automotive and aerospace sectors. It would not be incorrect to state that polyphenylsulfone, owing to its resilience to high-temperature and corrosive chemicals holds commendable significance in the medical industry. An ideal material for clinical applications, polyphenylsulfone is highly resistant to hospital disinfectants. The increasing government expenditure to improve hygiene conditions in hospitals has propelled the demand for patient-centric, clean medical devices, in turn supplementing the polyphenylsulfone market growth.
U.S. Polyphenylsulfone (PPSU) Market Size, By Application, 2018 & 2025, (Kilo Tons)
Technological advancements in diagnosis methods, imaging technology in orthopedic surgery and introduction of new products is also likely to boost the industry growth. The growing awareness regarding disease transmission through surgical devices along with government regulations mandated to ensure safety in surgical procedures and instruments are expected to surge the demand for PPSU from clinical device manufacturing companies.
Indeed, the material is widely used in the manufacturing of medical tool handles, forceps, scissors, and clamps for several surgical disciplines owing to its enhanced sterilization resistance. Complex surgical tools like endoscopic probe positioning ferrules are also made using PPSU rods, which may further augment the industry growth. Recent reports from Global Market Insights, Inc., cite that the rod-based PPSU market share exceeded around $95 million in 2018.
How will the aerospace sector prove to be a lucrative investment avenue for the global PPSU industry?
Nowadays, aerospace engineers and aircraft manufacturers are constantly focus on reducing aircraft weight to lower fuel consumption and match stringent emission standards. Being up to ten times lighter than metal, polymer and composite materials like PPSU effectively meet manufacturers’ expectations whilst lowering cost by replacing expensive steel components.
In addition to weight reduction, PPSU also adds value for many aerospace applications due to its unique properties like superior corrosion & fatigue resistance, tensile strength, and durability which significantly helps outperform metal components. The material’s high-performance thermoplastics property also helps meet stringent FST (flame, smoke, and toxicity), formulating its use in aircraft interiors while being in compliance with stern FAA regulations, further offering increased passenger safety. This would, in consequence, majorly impel PPSU industry trends from aerospace applications.
The global polyphenylsulfone market is also touted to procure substantial gains from the automotive sector, owing to surging fuel prices, rising environmental concerns pertaining to automobile CO2 emissions, and increasing demand for lightweight, fuel-efficient vehicles. Undeniably, PPSU offers high strength and lightweight properties and is resilient to high-temperature engine oils and vehicular impact, making its deployment vital to increase and match vehicle safety and performance standards. The material is increasingly used for making engine water pump impellers, electric circuit/component insulators, automotive lights and more, effectively replacing heavy metal components and further reducing vehicle weight. This would lead to improved fuel-efficiency, the core of what global automakers are intending to accomplish as on today, which would quite overtly augment the overall polyphenylsulfone industry share from automotive applications in the years ahead.
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The mention of Germany is undoubtedly discernible when speaking of automotive applications. The region boasts of the presence of globally renowned car manufacturers like Volkswagen, Mercedes-Benz, BMW, Audi and more and houses one of the world’s leading automotive manufacturing infrastructure and highly qualified workforce. According to reports, the total number of passenger vehicles registered in Germany for road use was increased by 1.5% to around 46.5 million cars in 2018.
Moreover, stringent regulatory measures by the European Union regarding carbon emission from vehicles has further encouraged automakers to adopt metal replacing material like PPSU to reduce vehicle weight and emission. It is also anticipated that rising technological trends in the automotive sector for vehicles that offer increased fuel-efficiency may contribute towards regional industry growth.
Germany PPSU industry has also gained traction lately on account of the product’s usage in medical applications. Indeed, Germany polyphenylsulfone market size from medical applications is expected to surpass close to USD 8 million by 2025, driven by the enforcement of strict norms by the European Union pertaining to medical devices.
A high-performance thermoplastic known for its high flexural, toughness, and tensile strength, excellent hydrolytic stability and resistance to heat and chemicals, polyphenylsulfone is touted to be the most ideal alternative for products that are inclusive of polycarbonate and polyamide. According to Global Market Insights, Inc, the polyphenylsulfone market size is set to exceed $500 million by 2025.
Author Name : Mateen Dalal
Germany PMMA market for construction application to gain remarkable momentum over 2018-2024, escalating demand for weather-resistant material to propel the industry landscape
The global PMMA market for construction application has been experiencing significant growth lately, due to the increasing demand for shatterproof & weathering resistant materials as a viable replacement to glass. Numerous construction enterprises are continually looking for a suitable glass alternative to be utilized across a number of different applications that range from greenhouses, aquariums, worktops to facades and car ports, which would help augment PMMA market for construction application in the years ahead.
U.S. PMMA Market for Construction application, By Application, 2017 & 2024, (Kilo Tons)
Apart from being shatterproof & weather resistant, PMMA also boasts of another considerable advantage over glass, which is the material’s transparency; PMMA is significantly more transparent than glass, and as opposed to it, maintains this transparency even when the panels are made too thick. Moreover, the trend of increasingly promoting natural lighting in architectural designs – to the point that enterprises across the world when posting job perks also list out ‘access to natural light’ as an added advantage, would be ensuring sustained product demand. This is because the more a building design ensures natural light access, the more area there is for the installation of windows. Quite overtly, the global PMMA market for construction application would be significantly benefiting from this trend. A further elaboration of the same has been enlisted below:
PMMA market for construction application | Impact of the natural light trend that is gripping enterprises
According to the Harvard Business Review, a new survey conducted by Future Workplace revealed that even though enterprises boast of a number of employee perks, which include nap pods, treadmill desks, bring your own device, fitness centers and onsite cafeterias, a majority of employees crave something that is significantly more fundamental & essential to basic human needs as access to natural light. More than 1,614 employees who were surveyed claimed that access to natural light & an open view of the outdoors triumphs almost all of the employee perks the company gives them.
The survey also discovered that the lack of natural light & an open view of the outdoors has a sizable detrimental effect on employee experience. Over a third of the surveyed employees feel that they don’t get enough exposure to natural light inside their workplace with 47% of the employees admitting to feeling moderately to acutely fatigued due to the lack of natural light in their respective offices. More than 43% claimed that they felt gloomy due to the absence of natural lighting.
With a growing importance being given to employee comfort and wellbeing in recent years, the global PMMA market for construction applications would be witnessing a surge in business demands on account of a number of enterprises attempting to improve the company’s employee experience by constructing, renting or modifying existing work premises to incorporate more natural light into the building. The fact that this trend also helps enterprises save significant amounts on their electricity bills will further help propel the growth prospects of the PMMA market for construction application in the forthcoming years.
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PMMA market for construction applications | Impact of the increasing plastic usage in Europe’s real estate industry
The modern European construction industry is increasingly adopting plastics in their practices to make construction activities and the building structures more affordable & energy efficient. The accelerated adoption of plastics and the incorporation of new plastic technologies are expected to majorly upscale the demand for PMMA in the continent’s construction segment, which incidentally is one of the largest employers in the European Union.
According to PlasticsEurope, Europe’s construction & building sector accounts for more than 19.7% of the approximately 49 million tons of plastics annually consumed across Europe, which is one in every five tons. With the demand for plastics on a continually escalating graph, Europe PMMA market for construction application is anticipated to record immeasurable growth in the ensuing years.
Among the regional grounds, Germany, especially, is slated to establish itself as a prominent marketplace for Europe owing to the extensive utilization of PMMA in the construction of carports. The material’s shatterproof & durability properties make it an ideal raw material in the construction of the said carports, which are witnessing increasing demands owing to the growing vehicle sales across the country. This would consequently help augment the commercialization portfolio of the Germany PMMA industry for construction application, that is slated to cross $125 million by 2024.
It is rather vivid that owing to the emerging trends in the construction industry, the global PMMA market for construction application would be experiencing sizable growth over the forthcoming time period. In fact, a Global Market Insights, Inc., report projects that the overall PMMA market size for construction application is expected to surpass the $3 billion renumeration mark by 2024.
Author Name : Akshay Kedari
China electrical steel market to witness accelerated demand by 2025, escalating requirement of grain-oriented products to impel the regional expansion
With the rising shift towards renewable power generation systems and growing adoption of zero-emission EVs, electrical steel market has garnered renewed momentum in recent years. Electrical steel is basically an iron alloy tailored to generate specific magnetic properties for various industrial and commercial applications. The product is particularly used for making power transformer and has found long-term application in the EV industry for making efficient, high-speed electric motors owing to its ability to reduce energy loss, improve efficiency, lower CO2 emissions and hysteresis loss. The rising demand for high-torque electric motors in the shipping and construction industry has further propelled the growth of the electrical steel industry.
U.S. Grain Oriented Electrical Steel Market Size, By, 2018 & 2025, (Million tons)
How will the energy sector turn out to be a revolutionary driving force for the global electrical steel market?
The ever-increasing global demand for reliable and environmentally friendly energy sources has pressurized the solar PV sector since the last few years. Solar PV panels basically convert sunlight into electricity, however, due to its output’s DC nature and low current offering these power stations require efficient distribution or static converter transformers to step-up the electricity to drive high-voltage AC applications.
The rising focus on curbing global CO2 emission has also encouraged construction of zero-emission solar PV power stations. For instance, reports from Solar Energy Industries Association (SEIA) claim that around 10.6 GW of solar PV capacity was installed in the U.S. in 2018, reaching a 64.2 GW of total installed capacity, enough to power 12.3 million U.S. homes. Reports further suggest that the region’s total installed solar PV capacity is expected to go over double by 2024. As the demand for renewable surges, the requirement of transformers at solar PV power stations and similar establishments is bound to increase, thereby propelling the electrical steel industry trends.
The extensive expansion of the global EV industry is likely to have an impact on the electrical steel market trends, given that the material is widely used in manufacturing high-speed, power-efficient motors, a primary component of any electric vehicle. Rapid technological developments in motor technology has also propelled the industry growth. It is thus certain that the rising investments in motor manufacturing will boost the electrical steel market share in the coming years.
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Citing an instance to back the aforesaid, in 2018, electric supercar maker Rimac Automobili announced its investment of around EUR 5 million (USD 6 million) for setting up a new manufacturing facility in Xiangyang, China to solely produce electric motors and batteries for its EV segment as to meet production capacity of 50,000 units/year. As is observed, major companies have been making extensive investments to up their EV manufacturing graph, that is bound to lead to an augmented growth depiction for the electrical steel market.
Unveiling China electrical steel market trends:
China is anticipated to emerge as a highly lucrative revenue pocket for the global electrical steel market. One of the primary reasons for the region to depict an incline in the growth potential is the extensive deployment of grain oriented electrical steel. Indeed, these products are known to convert energy into power voltages to be deployed across various power generation systems. In China specifically, these products are extensively used in household appliances and rural and urban networks, that has helped accelerate their demand in the nation. As a matter of fact, China grain oriented electrical steel market size from household appliances will be pegged at over USD 95M by 2025, driven by the spate of novel innovations in household appliance manufacturing.
The China electrical steel market is also expected to witness momentum from the rising standards of living and the increasing per capita income of consumers that has led to escalating power distribution network in the region. Moreover, the focus of several electric automakers to set up manufacturing facilities in the region owing to its vast technological know-how will accelerate the electrical steel market growth. For instance, global EV giant, Tesla, Inc. has started constructing its Gigafactory 3 in Shanghai which would make electric motors and battery packs for its current and upcoming segments by 2020, in turn supplementing the electrical steel market.
Primarily used to produce cores of transformers, motors and generators, electrical steel helps enhance permeability, magnetic flux density, and minimize energy loss, on the grounds of which it is extensively used in the energy, manufacturing and automotive industries. Reports from Global Market Insights, Inc., claim that the electrical steel market size is estimated to surpass $22.5 billion by 2025.
Author Name : Mateen Dalal
An overview of the global polycarbonate composites market in terms of the end-user spectrum: escalating demand for automotive plastics to augment the industry landscape by 2025
The global polycarbonate composites market is slated to emerge as one of the most lucrative investment avenues over the forthcoming years, given the product’s deployment in numerous industrial sectors. An unfilled polycarbonate is an extremely durable and transparent engineering plastic with its properties ranging from immense impact strength to a significant modulus of elasticity. Moreover, the material is also extremely resistant to moisture, possesses a high heat-deflection temperature and high voltage & low frequency insulating characteristics, making them ideal to be used for making electrical & electronic components.
U.S. polycarbonate composites market, by end-user, 2014 – 2025 (USD Million)
Meanwhile, its transparency, elasticity & high impact resistance also make it a prime material for numerous transparent structural applications. These properties ensure a sustained & significant demand for the material from several industrial domains, which would be responsible for fueling the polycarbonate composites market share in the coming years.
Polycarbonates are also highly versatile, in the sense that they can be mixed with other materials to accentuate certain properties. For instance, polycarbonates mixed with varying amounts of glass fibers results in a material that has an increased level of tensile & compressive strength as well as overall stiffness. These hybrid composites could be used anywhere between to make race car or fighter jet windshields. This versatility opens up a plethora of application avenues for the product, thereby fueling polycarbonate composites industry trends.
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Global polycarbonate composites market | Impact of the demand from automotive plastic manufacturers
It is a well-known fact that the level of fuel consumption in an automobile is directly linked to its weight. Higher the weight, higher the energy required to get the vehicle moving. In an effort to make vehicles more energy efficient, car designers across the world, while constantly seeking new ways to further enhance their vehicle’s fuel efficiency, place a significant amount of emphasis on eliminating this weight while keeping the vehicle’s structural integrity intact. This requirement has steered the global automotive industry to turn to polycarbonates as an extremely viable alternative for glass & metal.
Significantly lighter, yet just as strong, polycarbonates today play a crucial role in the automotive industry by improving fuel economy & reducing carbon emissions. Moreover, the lighter a vehicle gets the easier & quicker it can brake, which during an imminent collision leads to a significantly reduced collision impact. This promotes a safer & better driving experience, further positioning the polycarbonate composites demand graph in an exponential position in the automotive industry.
According to the European Polycarbonate Sheet Extruders, a typical automobile body incorporates over 10Kg of polycarbonates in numerous forms, with injection molded polycarbonate making up the displaced glass & headlights, an ABS & PBT polymers’ blend used for under-the-bonnet components & vehicle interiors and PC/ABS polycarbonate blend facilitating advantages in scratch resistance, vehicle aesthetics & dimensional stability. These applications are further going to grow with improving economic conditions globally, ensuring a rise in automobile sales. As a matter of fact, polycarbonate composites market share from automotive plastics is projected to grow at a 6% CAGR over 2019-2025.
Global polycarbonate composites market | Impact of the expanding smartphone sales
According to the International Monetary Fund, the immense global smartphone demand has been the primary factor behind the generation of a new tech cycle around the globe. In fact, back in 2016, smartphone sales across the world reached the 1.5 billion unit mark – around one smartphone for every fifth individual in the world. This trend has engendered evolving & complex supply chains throughout the globe, especially Asia. The polycarbonate composites market has been estimated to be one such industry that is witnessing significant demands from the rising smartphone sales.
While, some smartphone manufacturers prefer to make the bodies of their smartphones completely out of metal or glass, a majority of them tend to lead more towards the lightweight yet durable plastics made out of polycarbonate composites. One factor that puts forth a strong case towards the use of polycarbonate is the issue of network reception; as metals & some formulations of glass constantly interfere with the mobile device’s internal antenna, leading to frequent signal & call problems. This issue is virtually nonexistent inside handsets made out of polycarbonate exteriors.
According to the GSMA Intelligence, the total number of unique mobile users surpassed the 5 billion mark back in 2017. The mobile industry across the world is projected to accomplish a further milestone by 2025, wherein the unique mobile user numbers would be reaching the 5.9 billion mark, which is equivalent to approximately 71% of the world’s population. This growth is expected to maintain a healthy demand for polycarbonate composites, further fueling the overall growth of the polycarbonate composites market from consumer electronics applications.
Owing to the massive product demand from some of the most expansive industry verticals, it is quite clear, that the global polycarbonate composites market would be experiencing significant growth prospects over the forthcoming tears. In fact, according to Global Market Insights, Inc., the overall polycarbonate composites market size is projected to surpass the $3.2 billion renumeration mark by 2025.
Author Name : Akshay Kedari