What are the Drivers and Restraints in Polyphthalamide Resin Market?

Polyphthalamide (PPA) is an aromatic and semi-crystalline polyamide. It possesses competitive physical properties compared to its counterparts such as nylon 6/6. PPA is stronger and stiffer compared to other polyamides and possesses high thermal capabilities. Furthermore, it is less sensitive to moisture and has substantial creep resistance and chemical fatigue. PPA resin is used in an extensive range of applications due to its exceptional thermal, electrical, and physical properties. The resin offers resistance to infrared soldering environments, unlike many other resins. Moreover, PPA is cost-effective compared to other polyamides. The competitive advantages of PPA mentioned above are expected to drive the polyphthalamide resin market during the forecast period.

Polyphthalamide Resin Market: Drivers and Restraints

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. Rise in consumer demand for lightweight electronic and electrical products with added flame retardant and temperature resistant performance is anticipated to boost the market during the forecast period.

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Polyphthalamide Resin Market: Segmentation

Based on end-use industry, the polyphthalamide resin market can be segmented into:

· Automotive

· Electrical & Electronics

· Sports & Leisure

· Oil & Gas

· Others

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.

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Polyphthalamide Resin Market: Region-wise Outlook

In terms of volume, Asia Pacific accounted for major share of the global polyphthalamide resin market in 2016. This trend is estimated to continue during the forecast period. 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.

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Polyphthalamide Resin Market: Key Players

The global PPA resin market is fragmented with the presence of major players in Asia Pacific and North America. Key players operating in the polyphthalamide resin market include:

· Evonik

· Solvay

· RTP Company

· Arkema

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