Transparency Market Research in its new report titled, “Polyphthalamide Resin Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the polyphthalamide resin market. The TMR report anticipates that the rise in consumer demand for lightweight electronic and electrical products with added flame retardant and temperature resistant performance will boost the polyphthalamide resin market during the forecast period i.e, 2018-2026. Polyphthalamide resin is used as a substitute for metal in numerous applications such as automobile and electronics. PPA resin allows cost effective production of lightweight automotive components that can handle high mechanical loads. This is expected to drive the demand for PPA resins in the next few years. Manufacturers are focusing on light weight components and miniaturization in industries such as electrical & electronics. Electrical & electronic components are getting smaller in size and are expected to offer good performance even at extreme temperatures, says the report.
The report has segregated the polyphthalamide resin market based on end-use industry into automotive, electrical & electronics, sports & leisure, oil & gas and others. Among these, automotive is a major application of the polyphthalamide resin market. The application of PPA resin in the automotive industry includes brake boosters, connectors, tubing systems, brake systems, and hoses. In the electrical & electronics industry, PPA resins are used for reflectors, LED packaging materials, cell phones, computer connectors, plastic sockets, etc. Major challenge faced by OEMs is providing numerous options to customers at low cost. Furthermore, increase in pressure to offer energy-efficient cars at low budget is another major challenge faced by automotive manufacturers. In order to provide highly efficient cars and reduce fuel consumption, automotive manufacturers are focusing on reducing their weight. Therefore, OEMs are substituting traditional materials with advanced engineered ones such as engineered plastics, aluminum, filled elastomers, specialty silica, and composites. LED reflector application held the major share in the electrical & electronics industry in 2016.
On the volume front, Asia Pacific accounted for major share of the global polyphthalamide resin market in 2016. This trend is estimated to continue during the forecast period, as per the report. Countries such as China, Japan, Taiwan, and South Korea are expected to provide lucrative opportunities to the market in the near future owing to the high demand from the electrical & electronics industry in these countries. North America and Europe also held significant share due to the presence of key automobile manufacturers in these regions. The global PPA resin market is fragmented with the presence of major players in Asia Pacific and North America. Some of the prominent players operating in the polyphthalamide resin market are profiled in this report to give a better competitive analysis and these include Evonik, Solvay, RTP Company, and Arkema.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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