High-Performance Polymers Market Size Forecast to Reach $14 … – MENAFN.COM

High-Performance Polymers Market Size Forecast to Reach $14 … – MENAFN.COM

(MENAFN - GetNews) Adoption of Emerging Light-weight Vehicles in Developed Countries Will Boost the Growth of High-performance Polymers Market High-performance Polymers Market size is forecast to reach $14 billion by 2026, after growing at a CAGR of 9% during the forecast period from 2021-2026. The rising need for lightweight vehicles and electric vehicles is one of the major factors fueling the demand for the high-performance polymers market. Further, the growing demand for advanced polymers like fluoropolymers due to versatile properties in various end-use industries such as transportation and construction will boost the future demand too. Polyphenylene sulfide is a partially crystalline, high-temperature performance polymer. This polymer has a high melting point of approximately 280°C, excellent chemical resistance, and is inherently flame retardant. Apart from this, high-performance polyamides can make durable, functional components for automotive thermal management and other demanding applications. The COVID-19 pandemic has affected the whole supply chain of polymer manufacturing due to the complete or partial shutdown of companies. This also has an impact on the growth of the polymers business in the forecast period. Apart from this, lightweight vehicle production is expected to drop more than 20% due to COVID-19. Fluoropolymers segment held the largest share in