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At 8.95% CAGR, Global Polyphthalamide Market to Surpass US$ 1,980.26 Mn By 2030, Forecast Report By Zion Market Research

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According to the report published by Zion Market Research, the global Polyphthalamide Market size was valued at USD 997.32 Million in 2022 and is predicted to reach USD 1,980.26 Million by the end of 2030. The market is expected to grow with a CAGR of 8.95% during the forecast period. The report analyzes the global Polyphthalamide Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Polyphthalamide Market industry.

Global Polyphthalamide Market: Overview

Polyphthalamides are high-performance engineering plastics, which possess excellent dimensional stability, high deflection temperature, operate efficiently when exposed to high temperatures, and have low moisture absorption. All these properties are required in the manufacturing of the automobile body parts such as resonators, air cooler housings, charge air hoses, air induction systems, and others. Polyphthalamide is a better substitute to metals in applications where high-temperature resistance is required such as the housing for high-temperature electrical connectors, automotive powertrain components, and many other uses. Polyphthalamide is used in various automotive, electrical and electronics applications. In the automotive industry, it is used to make fuel cut-off valves, fuel and coolant lines, coolant pumps, fuel line connectors, air coolers; water heater manifold fuel modules, pump wear rings, LED headlights, motor bobbin parts, and thermostat housing.

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Global Polyphthalamide Market: Growth Factors

Stringent regulations imposed against the use of lead soldering in electronic components have created new growth opportunities in the global polyphthalamide market. Implementations of these regulations helped in launching fuel-efficient vehicles and reduced the vehicle emissions. Engine downsizing is responsible for reducing the overall car weight which is the key factor that contributed to the market growth. As polyphthalamide possesses superior characteristics, it is widely used in the high-temperature air induction applications to improve the lifespan of the components.

Polyphthalamide is heavily used in the electronic and electrical component manufacturing in order to produce high-quality products so that they can survive in high-temperature applications without the use of lead in the soldering process; this drives the polyphthalamide market growth. It also provides improved flame retardant properties. Mandatory regulation implemented by the government on the use of plastics that are halogenated flame retardant fuels the demand for polyphthalamide in the electrical and electronic industry.

Global Polyphthalamide Market: Segmentation

The global polyphthalamide market is segmented on the basis of application, type, and region. The application segment is bifurcated into industrial equipment & apparatus, automotive, consumer & personal care, electronics & electrical, and others. Based on the type, the market is classified into mineral filled, carbon fiber filled, unfilled, and glass fiber filled. The regional segmentation of the market includes North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Global Polyphthalamide Market: Regional Analysis

Asia Pacific is the leading region in the global polyphthalamide market; it is expected to show the fastest market growth in the near future. China is the major consumer of polyphthalamide due to its increased demand. The international producers are adopting various strategies in order to strengthen their position in the global market. Europe will experience a significant boost in the market in the near future. North America will witness considerable growth in the coming years owing to increasing utilization of the polyphthalamide in the transportation and automotive industry.

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Global Polyphthalamide Market: Competitive Players

Major players operating in the global polyphthalamide market include: