The global polyphthalamide resin market has garnered USD 1,522.3 million in revenue in 2023, and it is projected to rise at the rate of 6.4% from 2023 to 2030, to capture USD 2,320.6 million by 2030.
The development can be mainly credited to the increasing utilization of PPA resin as a substitute for metals in cars and the growing research and development expenditure. The material has numerous beneficial properties, like higher electrical and thermal tolerance, hygroscopicity, and high tensile forte. Other good mechanical and chemical properties of this material comprise semi-crystalline structure, opaqueness, and moisture resistance.
The glass-fiber-reinforced category grips the largest share as this variant is compressive, non-flammable, resilient to humidity and temp and does not bend effortlessly. Moreover, it is simply obtainable, and the electronics and automotive industries are extensively using it.
Furthermore, it provides great value for money and owns chemical resistance, which will, ultimately, drive the development of the industry in this category.
The material is utilized in a range of electrical and electronic components, like connectors, switches, sockets, and circuit breakers. The major advantages that make it perfect for such applications, and also electric cars, are good electric properties and flame resistance.
In 2023, the North American region had the second-highest position in the industry, with a worth of USD 0.3 billion. This can be credited to the increasing acceptance of EVs and progressive materials in a variety of applications.
In North America, the U.S. leads the industry, credited to the initiatives taken by the government for decreasing releases, the most prominent of which is the execution of strict guidelines on industries, aircraft, and automobiles.
The automotive sector is increasing because of the surge in disposable income. With this, the
sale of passenger cars endures to rise in advanced and emerging nations. Moreover, in the past few years, the market has seen a massive acceptance of progressive technologies as a result of the increasing rivalry among manufacturers.