Heat Resistant Polymer Market size is estimated to surpass USD 30 Billion by the end of 2035, growing at a CAGR of 6% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of heat resistant polymer was over USD 16 Billion. The increasing use of heat polymers in various industrial sectors such as automotive, aerospace, electronics, and manufacturing is one of the key drivers behind its global growth. As these industries continue to advance and expand their operations there is a rising demand, for materials that can withstand temperatures.
Moreover, heat resistant polymers have the advantage of being recyclable and capable of substituting metals in applications. This is beneficial for sustainability initiatives across industries. Additionally, these polymers are generally lighter making transportation more convenient.
Furthermore, they can be engineered to withstand wear and tear enhancing their durability compared to materials. As a result, the demand for materials is reduced, leading to a decrease, in waste generation and energy consumption.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~6% |
|
Base Year Market Size (2022) |
~ USD 16 Billion |
|
Forecast Year Market Size (2035) |
~ USD 30 Billion |
|
Regional Scope |
|
Type (Fluoropolymers, Polyimides, Polyphenylene Sulfide, Polybenzimidazole, Polyether Ether Ketone)
The Fluoropolymers segment is expected to dominate the heat resistant polymer market with a share of 36% by 2035. Fluoropolymers are widely used as heat polymers in various industries. They play a role in the electrical and electronics sector due to their exceptional properties, such as chemical resistance and dimensional stability.
Moreover, their insulating properties make them highly sought after for applications, like interconnecting wires, hook up wires, computer wires and thermocouple wires.
End-User (Automotive, Aerospace & Defense, Electronics & Electrical, Industrial Equipment, Marine, Transportation)
Heat resistant polymer market from the automotive segment is projected to capture a revenue share of approximately 30% by the year 2035. This growth can be attributed to the adoption of heat polymers instead of stainless steel and other materials which offers several advantages in manufacturing vehicles that are more efficient and durable. As a result, the increasing presence of cars, electric vehicles, autonomous cars and other types of vehicles worldwide is expected to drive growth in this sector throughout the forecast period. For example, it has been estimated that by 2025 there will be 470 million connected cars on roads, across the globe.
Our in-depth analysis of the global market includes the following segments:
|
Type |
|
|
End User |
|
North American Market Forecast
The heat resistant polymer market in North America is expected to have the largest market share of heat resistant polymers accounting for approximately 35% by the end of 2035. This growth is primarily driven by the flourishing chemical industry in the region, which indicates an increased production rate of heat polymers in the coming years. Recent reports suggest that the chemical industry in the United States generated revenue of around USD 550 billion in 2019.
Additionally, there is a demand for vehicles, which further contributes to the growth of the automotive sector in this region. According to the International Organization of Motor Vehicle Manufacturers OICA sales of all types of vehicles in America increased from 20,814,832 in 2020, to 22,001,152 in 2021. Meanwhile vehicle production reached 16,151,639 units in 2021 within this region.
APAC Market Statistics
The heat resistant polymer market in the Asia Pacific region is projected to be the modest in coming years, accounting for approximately 24% by the year 2035. The regions diverse range of industries such as electronics and automotive is expected to drive growth opportunities in the coming years. Moreover, government initiatives and the presence of market players are likely to create favorable prospects for further expansion, in this region over the next few years.
Author Credits: Smruti Ranjan, Rajrani Baghel
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?