High Performance Polyester Market With Current and Future Growth Analysis by Forecast (2022-2030)
Research Reports
Oct 12, 2022
The High-Performance Polyester Market is expected to be USD 60,900.5 million by 2030, with a 7.5% CAGR over the forecast period (2022 – 2030).
One of the important factors driving the growth of the global high-performance polyester market is the rapid increase in demand for polyester in the polyethylene sector. The high-performance polyester market’s various properties will provide considerable growth opportunities shortly. The better temperature stability of polyester is one of the main factors boosting demand for the product in numerous end-user sectors. This might be another aspect driving the high-performance polyester industry forward.
The US Food and Drug Administration and the European Food and Safety Authority have approved using polyester in food and packaging applications. This might be another major element driving the expansion of this market. The leading corporations in the food and beverage sector use high-performance polyester to keep the goods inside the container fresh. This propelling factor will help the High-Performance Polyester Market flourish shortly. The growing popularity of ready-to-eat foods in established and emerging markets is expected to drive the expansion of this industry. Furthermore, the increase in disposable income of individuals in metropolitan areas is another factor driving the growth of the high-performance polyester market.
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Market segmentation:
The Global High-Performance Polyester Market is classified into applications and end-use industries.
Based on application:
- Tape
- Strap
- Insulation
- Films
- Gelcoat
- Others
Based on end-use industries:
- Automotive
- Packaging
- Electrical & electronics
- Building & construction
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Regional analysis:
The Global High-Performance Polyester Market is divided into five regions: North America, Asia-Pacific, Latin America, Europe, the Middle East and Africa.
Due to increased demand from end-use industries such as packaging, electrical & electronics, building & construction, and automotive, the Asia-Pacific region is predicted to develop at the fastest CAGR during the forecast period. Demand for High-Performance Polyester is expected to increase in emerging nations such as India, China, and Japan as the automobile sector expands and building activities increase.
In North America and Europe, businesses are embracing the manufacturing of recyclable items based on High-Performance Polyester due to a shifting consumer trend toward high consumption of recyclable products. Over the projected period, North America is predicted to see a significant rise in the use of the High-Performance Polyester Market. The United States is predicted to lead the region’s High-Performance Polyester Market, followed by Mexico and Canada. Latin American countries such as Chile, Colombia, and Brazil are also expected to increase steadily as their packaging and automobile sectors expand. Due to increased building activity in the Middle East and Africa, demand for high-performance polyester may increase significantly.
Recent developments
Jan 2020: Celanese Corporation, a well-established chemical and specialty materials business, has joined forces with Nouryon’s and has been striving to produce dispersible polymer powders across Europe and Asia. The Elotex production facilities were combined with the vinyl acetate-ethylene emulsions as part of this transaction. In this manner, the technical services and functions will be carried out in the Swiss facility.
January 2020: BASF, a market leader, announced the purchase of Solvay polyamide and thus their increased capacity in making better-designed plastics, and the organization aimed to extend its access throughout Asia, North America, and other nations with prospective end-user sectors.
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