Polyphthalamide Resin Global Market Report 2024

The polyphthalamide resin market size has grown strongly in recent years. It will grow from $2.14 billion in 2023 to $2.33 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth observed in the historical period can be attributed to various factors, including the adoption of polyphthalamide (PPA) resin in the aerospace sector, expansion in industrial manufacturing applications, advancements in material formulations, the substitution of metals with PPA resin, and the increasing use of PPA in electrical and electronics applications. Additionally, the adoption of PPA resin in the automotive industry contributed to its growth during the historic period.

The polyphthalamide resin market size is expected to see strong growth in the next few years. It will grow to $3.19 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated growth in the forecast period can be attributed to the global shift towards lightweight materials, ongoing research and development initiatives, expansion in the aerospace and industrial sectors, a growing focus on sustainable materials, and an increased demand for electrical components. Major trends expected in the forecast period include the use of high-performance engineering plastics, the substitution of metals and traditional materials with PPA resin, advancements in additive manufacturing techniques, expansion in the electrical and electronics sector, and an overarching focus on sustainability in material choices.

The polyphthalamide resin market is poised for growth, fueled by the increasing demand for personal care products. These products, encompassing personal hygiene, grooming, and beauty items, utilize polyphthalamide resin due to its high-performance characteristics. In medical applications, such as tubing for catheters and toothbrush bristles, the resin exhibits enhanced chemical resistance, sensitivity to moisture absorption, and dimensional stability. Notably, L'Oréal, a France-based personal care giant, reported an 8% global growth in personal care products such as skincare in 2021, underscoring the escalating demand driving the polyphthalamide resin market.

The automotive industry's expanding needs are set to propel the polyphthalamide resin market forward. Widely employed in fuel system components such as fuel rails, connectors, and modules, as well as in manufacturing engine covers and intake manifold components, polyphthalamide resin addresses critical requirements in the automotive sector. Recent statistics from the European Automobile Manufacturers Association indicate a substantial 5.7% increase in global motor vehicle production to 85.4 million units in 2022 compared to the previous year. Additionally, the automobile sector witnessed a notable 10% rise, reaching approximately 78 million unit sales in 2022, as reported by Brand Finance plc. This surge in demand within the automotive industry contributes significantly to the growth of the polyphthalamide resin market.

A key trend in the polyphthalamide resin market is product innovation, with major companies focusing on inventive solutions to fortify their market standing. Solvay, a Belgian-based chemical company, introduced Amodel Bios PPA in May 2021, a sustainable solution tailored for e-mobility electrical and electronic applications. Notable for its high melting point of 315 °C and the highest glass transition temperature (Tg) among bio-based PPA options at 135 °C, Amodel Bios PPA is well-suited for non-blistering reflow soldered surface mount devices and components in power electronics' cooling circuits, making it an ideal choice for injection molding applications.

Companies operating in the polyphthalamide resin market are launching innovative products to reinforce their market positions. Solvay's introduction of Xencor Xtreme in October 2023 exemplifies this trend. This long glass fiber polyphthalamide (PPA) solution, designed for battery applications, offers superior resistance to thermal runaway and propagation, crucial in battery technology. Notably, Xencor Xtreme boasts resistance to direct flame exposure at temperatures exceeding 1000℃ for over 10 minutes, providing robust thermal runaway protection. With a high glass transition temperature (Tg) and partially bio-based content, this innovative product is positioned to meet the evolving needs of diverse industries.

In January 2021, BASF SE acquired Solvay's polyamide business for $1.4 billion. This acquisition aimed to strengthen BASF's polyamide capabilities, leveraging Solvay's innovative products such as Technyl. The move positioned BASF to offer enhanced engineering plastics solutions to its customers and marked a significant development in the polyphthalamide resin market. Solvay, a Belgian multinational chemical company, contributed its polyamide business to further advance the industry landscape.

Major companies operating in the polyphthalamide resin market report are BASF SE, Arkema S.A., Akro-Plastic GmbH, The DuPont de Nemours and Company, Ems-Chemie Holding AG, Royal DSM N.V., RTP Company Inc., Dow Inc., Saudi Basic Industries Corporation, PlastiComp Inc., Techmer Engineered Solutions LLC, Nagase America LLC, INEOS Group Limited, Ihne und Tesch GmbH, Kingfa SCI & TECH CO. LTD., Solvay S.A., Evonik Industries AG, Clariant International AG, DSM Engineering Plastics B.V., E-Polymers Co. Ltd., Eurostar Engineering Plastics, LG Chem Ltd., Lotte Advanced Materials Co. Ltd., Polyplastics Co. Ltd., Sumitomo Chemical Co. Ltd., TechnoCompound GmbH, Toray Industries Inc., Toyobo Co. Ltd., Victrex plc, Zhejiang NHU Special Materials Co. Ltd.

Asia-Pacific has the largest region market in the polyphthalamide resin market in 2023. The regions covered in the polyphthalamide resin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the polyphthalamide resin market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary products of polyphthalamide resin include unreinforced plain, glass fiber reinforced, carbon fiber reinforced, mineral-filled, and hybrid varieties. Carbon fiber reinforced resins are specifically utilized for strengthening and repairing reinforced concrete structures. These PPA resin products find applications in diverse industries such as automobiles, electrical and electronics, machinery, and personal care.

The polyphthalamide resin market research report is one of a series of new reports that provides polyphthalamide resin market statistics, including polyphthalamide resin industry global market size, regional shares, competitors with a polyphthalamide resin market share, detailed polyphthalamide resin market segments, market trends, and opportunities, and any further data you may need to thrive in the polyphthalamide resin industry. This polyphthalamide resin market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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