The polymers market is fast expanding and gaining popularity in more industries than before. Today, the applications of polymers are numerous, and new ideas are being explored. Industrial polymers are ductile, light-weight, and much more affordable compared to other materials like metal.
The fact that one can create a polymer product to suit specific needs makes it an ideal material for modern-day applications where flexibility in design is paramount. The polymer market is segmented by the characteristic properties of the polymer material like its thermal and electric conductivity, flexibility and lots more.
As such, we have the following structure in the global polymer market:
Product Type
Polymers can be classified based on their uses or applications, and some common classifications are:
- Commodity Thermoplastics;
- Engineering Thermoplastics;
- High-performance Engineering Thermoplastics,
- End-user Industry.
Another classification of polymers is based on the end-user industry. Polymer manufacturing companies are mostly interested in industrial polymers as used in Packaging, building and construction, automotive and transportation, electrical and electronics. Other End-user Industries are in Medicine, Agriculture, Sports and Leisure.
Most recently, polymers have been classified based on geography or locations where they are gotten. The available classification of polymers based on location are as follows:
- Asia-Pacific;
- North America;
- Europe;
- South America,
- and Middle East & Africa.
Now, with increasing demand for polymers, the thermoplastic market is looking at a future that promises expansion and improvements in polymer processing – thanks to technological advancements.
Trends in The Polymer Industry
The automotive industry is forecasted to be the major consumer of thermoplastics globally – considering the increasing demand for light-weight car parts.
Thermoplastics have extensive applications in the automotive and transportation industry where it’s often utilized in making under-the-hood parts, automotive airbags, automotive electrical and electronic components, among others.
The polymers industry will also capitalize and cash- in on the increasing demand for light-weight materials in virtually every facet of manufacturing.
In addition to its affordability, Industrial polymers offer flexibility in the design of polymer-based items or parts.
Contrary to false assumptions on the physical strength of thermoplastics, thermoplastics offer satisfactory levels of strength which makes them durable materials in building and construction.
The Future of High-Performance Polymer Industry
High-performance thermoplastics like the high temperature thermoplastics is evidence that the global market is headed in the right direction towards expansion.
For instance, the high-performance thermoplastic market has yielded the popular High-temperature thermoplastics, which are known for their ability to withstand high temperature and resistant to chemical attracts and other elements of weather.
These thermoplastics also offer high levels of tolerance and performance under a wide range of environmental conditions – where they can be subjected to very low and high temperatures over long periods.
High-performance thermoplastics may seem like a minor representation of this industry compared to other groups of polymers like polyethylene, polypropylene, polyvinyl chloride (PVC), and polystyrene.
However, their scope of usage is fast extending to major markets, especially as they are being used in medicine and oil and gas industries.
Applications of High-Performance Polymers in Medicine
These high-performance polymers like we mentioned earlier are currently being used in manufacturing medical implants.
Their high chemical resistance allows for the use of strong sanitizers, sterilizer, cleaners and a host of other chemicals that will ordinarily have an adverse effect on thermoplastics.
Thermoplastics in Industries
Have you ever wondered why the use of thermoplastics in industries is becoming more pronounced than it was decades ago?
The answer is not far-fetched, high-performance thermoplastics plastics! Besides the numerous patronages that high temperature thermoplastics markets enjoy from industries, the conductive polymer market is also gaining popularity at a remarkable pace.
Industries capitalize on polymer’s thermal and conductive properties to meet their demanding operational conditions. Thanks to high temperature thermoplastic market drivers, meeting this urgent demand isn’t as tasking as one would think.
Enhanced polymer properties, including its durability, means fewer resources will be spent on maintenance. The conductive polymer market is also observing a vibrant growth as the use of polymers in automotive, electricity and electronics keeps rising.
Today, there high demand for high-temperature polymer cables as an alternative to traditional wires. In North America, the forecast of high polymer demand is made based on the fast-growing applications of polymers in the automotive sector.
To know more about sectors that will also contribute to the demand of polymers, such as construction, aerospace and other polymer industries, check our blog.
