High-Temperature Thermoplastics market to reach US$ 32.79 bln by 2026 at a CAGR of 10.44%

16-Sep-19

High-Temperature Thermoplastics (HTTs) market was valued at US$ 14.82 bln in 2018 and is expected to reach US$ 32.79 bln by 2026, at a CAGR of 10.44%, as per Maximize Market Research.

High temperature thermoplastics have the capacity to retain its performance and features even when the temperature is more than 300°F. Enhanced mechanical properties, recyclability along with dimensional stability are a few key factors that have pushed the demand for this product thereby boosting the overall market growth. High temperature thermoplastics are used widely across a range of end-use industries including medical, electrical & electronics, transportation industrial among others. Transportation industry held major share followed by electrical & electronics. Transportation and electrical & electronics further formed two major factors contributing to the increasing demand for this market.

The Asia Pacific is leading the high temperature thermoplastics market. Presence of a large number of manufacturers in the Asia Pacific along with growing applications of high-temperature thermoplastics compound across electrical industries has majorly contributed to the growing demand for this market.