19-May-17 The global heat resistant polymers market is projected to grow from US$12.03 bln in 2016 to US$16.67 bln by 2021, at a CAGR of 6.7% from 2016 to 2021, as per MarketsandMarkets (TM). The increase in demand for heat resistant polymers from the transportation and electronics & electrical industries in developing economies is propelling the growth of this market. Transportation segment is one of the fastest-growing segment of the global heat resistant polymers market. The transportation end-use segment is estimated to account for the largest share of the Heat Resistant Polymers Market in 2016, and is projected to be the fastest-growing segment from 2016 to 2021. This growth is mainly attributed to the increasing use of heat resistant polymers in various automotive components and increasing demand of automobiles in Asia-Pacific and North America region.
The polyphenylene sulfide segment is projected to be the fastest-growing type segment from 2016 to 2021. Polyphenylene sulfide is temperature resistant. In addition, it has superior properties as compared to other polymers, such as superior chemical resistance, flame retardancy, good electrical properties, and high dimensional stability. These properties are expected to boost the demand for polyphenylene sulfide in the automotive and electronics & electrical industries. Asia-Pacific was the largest market for heat resistant polymers in 2016. This increased demand can be attributed to the increasing demand from the transportation end-use industry, which accounts for the largest share in the global market, and growing economies of China and India.
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