Heat Resistant Polymers Market - Forecast(2024 - 2030)

Heat Resistant Polymers Market Overview

The Heat Resistant Polymers Market size is projected to reach US$15.1 billion by 2027 after growing at a CAGR of 5.8% during the forecast period 2022-2027. The term heat resistant refers to polymers that are capable of maintaining their physical properties at 250 °C. These polymers represent a class of polymers that were developed to cater to the demanding needs in aerospace and electronics applications. The major factors that contribute to heat resistance include primary bond strength, intermolecular forces between chains, cross-linking density and reinforcements. Heat-resistant polymers are classified as fluoropolymers, polyimides, polyketones, sulfone polymers and other copolymers. The growing usage of polyether ether ketone and polyphenylene sulfide in the automotive industry drives the Heat Resistant Polymers market.

Heat Resistant Polymers Market Report Coverage

Key Takeaways

Heat Resistant Polymers Market Segment Analysis – by Type

The fluoropolymers segment held a dominant Heat Resistant Polymers Market share in 2021 and is expected to grow at a CAGR of 6.1% during the forecast period of 2022-2027. Fluoropolymers are fluorocarbon-based, strong, lightweight and durable heat-resistant polymers. The typical range of temperatures they cover goes from -200 degrees Celsius to 260 degrees Celsius. They perform well in demanding environments such as the automotive, aerospace, semiconductors and electronics industries. For instance, in the transport industry, fluoropolymers aid in prolonging the life of various components critical for performance, emission control and safety in both the automotive and aerospace industries. According to the International Organization of Motor Vehicle Manufacturers (OICA), automobile production reached 80.2 billion units in 2021, an increase of 3% compared to 77.7 billion units in 2020. The growth in automotive production increases the demand for fluoropolymers which boosts the Heat Resistant Polymers market.

Heat Resistant Polymers Market Segment Analysis – by Resin

The transportation segment held a dominant Heat Resistant Polymers Market share in 2021 and is expected to grow at a CAGR of 5.3% during the forecast period of 2022-2027. Heat-resistant polymers are widely used in the transportation sector. In the automotive industry, components such as fuel system parts, coolant systems and electrical & electronic components are made from polyphenylene sulfide. Polyimides are used in the chassis and under-the-hood parts because they can withstand intense heat. With the recovery of the automotive industry, the demand for heat-resistant polymers is increasing. According to the European Automobile Manufacturers’ Association, 2.1 million commercial vehicles were produced in the European Union in 2021, an increase of 1.0% as compared to 2020. In the aerospace sector, polyether ether ketones are used in critical engine parts and exterior and interior components as the polymer can withstand high temperatures. The aircraft industry has forecast that approximately 41,000 new and replacement planes would be required by 2035. This boosts the Heat Resistant Polymers market.

Heat Resistant Polymers Market Segment Analysis – by Geography

The Asia-Pacific region held the dominant share of up to 42% in the Heat Resistant Polymers Market in 2021 owing to the automotive industry. Heat resistant polymers are increasingly used in the production of vehicle components, such as gears, hot fuel systems, fuel reservoirs, ignition modules, bearings, pistons, pumps, valves, etc. These polymers can be found in applications where high temperatures would have degraded other polymers. According to data from the International Organization of Motor Vehicle Manufacturers (OICA), in China, the total passenger car production rose from 19,994,081 units in 2020 to 21,407,962 units in 2021. The electric vehicles (EVs) segment is also growing in this region. According to the International Energy Agency (IEA), the increase in EV sales in 2021 was primarily led by China, which accounted for half of the growth. More vehicles were sold in China in 2021 (3.3 million) than in the entire world in 2020. The post-COVID recovery of the automotive sector boosts the Heat Resistant Polymers market in the region.

Heat Resistant Polymers Market Drivers

Growing usage of PEEK and PPS in Automotive Applications:

Heat Resistant Polymers are increasingly being used within the automotive sector, particularly in engines, clutches, transmissions and drivetrains. They are also being used in automotive motors. Bearings must withstand high temperatures, pressures, wear, and chemical aggression. Most heat-resistant polymers have proven effective in this regard. Performance Plastics Ltd., for instance, has compounded polyether ether ketone and polytetrafluoroethylene to make bearings for industrial and automotive purposes. The production costs using polymers are typically cheaper per unit compared to metals. According to Performance Plastics Ltd., the typical savings using polymers rather than metal is approximately 20%. Celanese Corp. through its subsidiary manufactures a linear polyphenylene sulfide, that is used in electromechanical rear parking brake actuators and gears for several automakers including Audi and Volkswagen. The polymer can withstand the impact of stones thrown up by tires from the road surface. It has superior qualities compared to metal alloys across a wide temperature range from below-freezing to 180 degrees Celsius. Thus, the growing usage of polyphenylene sulfide and polyether ether ketone in automotive applications drives the Heat Resistant Polymers industry. 

Rising Demand for Polyimides from the Electronics Industry:

Polyimide is one of the most preferred polymers in electronics for its excellent thermal, electrical, mechanical and chemical properties and easy processability. It has very good dielectric and insulating properties at the high electric field and at high temperatures of around 200°C in long term-service, making it suitable for electronic applications. Moreover, polyimide is essential for the development of new electronic devices where further considerations such as higher temperature, thermal conduction management, energy storage, reliability, or flexibility are required in order to sustain the growing global electrical energy consumption. The semiconductor industry uses polyimide to produce digital semiconductor materials and MEMS chips. As per the European Semiconductor Industry Association (ESIA), European semiconductor sales in July 2022 reached US$4.5 billion, an increase of 2.7% compared to June 2022. The sales were up 15.2% compared to July 2021. Therefore, the rising demand for polyimides from the electronics industry drives the Heat Resistant Polymers market.

Heat Resistant Polymers Market Challenge

High Prices of Heat Resistant Polymers:

The major restraint in the Heat Resistant Polymers Market is the high prices. Throughout the pandemic, shortages, bottlenecks and logistical concerns have been increasing the prices of polymers. These problems have still not been resolved. Kaneka Corporation, in January 2022, announced a 15% rise in the sales price for polyimide film due to price rises in raw materials and transportation costs. This has been the case with other heat-resistant polymers as well. In China, the prices of fluoropolymers increased during Q1 22. The estimated values of fluoropolymers were US$9656.5 per ton The rising prices might impact the growth of the heat-resistant polymers industry.

Heat Resistant Polymers Industry Outlook

Product launches, acquisitions and R&D activities are key strategies adopted by players in the Heat Resistant Polymers Market. The top 10 companies in the Heat Resistant Polymers Market are:

1. Arkema SA
2. E.I. du Pont de Nemours
3. Covestro
4. Huntsman Corporation
5. PolyOne Corporation
6. BASF SE
7. Evonik Industries AG
8. Celanese Corporation
9. Solvay S.A.
10. SABIC

Recent Developments

• In January 2022, Japanese fluoropolymer manufacturer Junkosha announced that it is doubling the production capacity of polytetrafluoroethylene liners and peelable fluorinated ethylene propylene heat-shrink material.
• In October 2021, HDC Hyundai Engineering Plastics Co. purchased the polyphenylene sulfide business of SK Chemicals Co. for US$32.8 million.
• In August 2019, Zeus Industrial Products, a leading polymer solutions provider and material science innovator, announced the introduction of a new polyimide family of products.

Relevant Reports

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