POLYPHTHALAMIDE MARKET ANALYSIS

Polyphthalamide MarketSize and Trends

Market Outlook

Global polyphthalamide market size is expected to expand significantly, exhibiting a CAGR of 7.05% during the forecast period. This is owing to increasing of polyphthalamide in industries such as medical, automotive, electronics and aircraft. Polyphthalamide finds applications in medical industry for the production of tubing of various devices such as catheters. Moreover, due to its high temperature resistance, polyphthalamide is predominantly used in the oil and gas industry. These industries have seen significant growth in the recent past, which has increased demand for polyphthalamide and hence, support the market growth. Furthermore, increasing adoption of thermoplastic in various industries is expected to boost growth of the market in the near future. Increasing product launches of high-performance thermoplastics by key players is expected to drive growth of the market during the forecast period. Furthermore, growing automotive sale coupled with growth of aircraft industry is expected to increase the demand for polyphthalamide and thereby boost the market growth.