High-Temperature Plastics Market - Forecasts from 2024 to 2029

High-Temperature Plastics Market - Forecasts from 2024 to 2029

The high-temperature plastics market is estimated to grow at a CAGR of 4.73% from estimated value of US$41.536 billion in 2024 to US$52.329 billion in 2029.

High-temperature plastics are a class of polymers that can withstand extreme heat and maintain their properties without degrading. In manufacturing operations, especially in sectors such as aerospace and automotive, where exposure to high temperatures is highly probable, the requirement for heat-resistant plastic is very high. The growing demand for high-performance products, especially in electronics and automotive, has provided major growth prospects for the high-temperature market. However, the high cost associated with manufacturing such plastic can act as an obstacle to market expansion.

High-Temperature-Plastic Market Drivers:

Bolstering end-user growth has propelled the market growth.

Due to their lightweight and high-strength properties, high-temperature plastics are used in automotive applications such as engine components, electrical and electronic components, and other high-temperature applications. Similarly, high-temperature plastics are applied in wings, airframes, and interior parts such as canopies and transparent windows in the aerospace industry.

Such major end users are witnessing a significant increase in their production output, which is expected to drive the demand for high-temperature plastic. For instance, as per the data provided by the International Organization of Motor Vehicle Manufacturers, global automotive production in 2023 reached 93.54 million units, representing a 10.26% increase over 2022’s production scale.

Likewise, major aircraft manufacturers such as Being and Airbus are witnessing significant growth in revenue owing to the growing aircraft sales. According to Boeing’s 2023 annual report, the company’s revenue from its commercial aircraft segment experienced a 30.25% increase.
Growing demand for advanced materials is driving the demand for high-temperature plastic.

Demand for heat-resistant plastic with high durability and varied industrial applicability has led to various innovations and developments in such materials. For instance, in March 2024, Toray Advanced Composites launched “Toray Cetex® TC915 PA+™”, which offers high-temperature resistance and stability and is ideal for industrial applications such as automotive structures, UAS, UAM, and the energy sector.

High-Temperature-Plastic Market Restraints:

High production costs will restrain the market growth.

High-temperature plastic provides performance benefits in terms of durability and structural integrity, owing to which it is in high industrial demand. However, the capital cost associated with manufacturing such material can be very high since it involves the usage of various advanced technologies. Such high capital costs can hinder the demand for high-temperature plastic, thereby hindering market expansion.

High-Temperature-Plastic Market Segmentation Analysis
The electronics sector is expected to account for a considerable market share.

The high-temperature plastic market is segmented into transportation, electrical & electronics, industrial, medical, and others based on end-use industry. Electrical and electronics are expected to hold a significant market share, which is attributable to the high-performance benefits of such plastics. Owing to this, they are applied in circuit boards, insulators, hosting, and connectors.

The increasing demand for consumer electronics drives the increased use of high-temperature plastics in the electrical and electronics sector. The International Energy Agency (IEA) reports that the global demand for electronic devices is expected to continue growing, with an estimated 11 billion devices in use worldwide by 2025.

In the automotive sector, high-temperature plastics are used for engine components, fuel systems, and electrical components because they offer reduced weight, increased fuel efficiency, and improved durability. In the aerospace sector, high-performance plastics are applied in various parts such as engine and structural components and cabin interiors. The plastics are lightweight, have high stability, and are durable, so this increases the overall aircraft’s fuel efficiency and resistance to chemicals and high temperatures.
North America is expected to grow at a significant rate.

Geography-wise, the North American market is expected to grow exponentially owing to the growing industrial production in the major regional economies and favorable investment inflows in the major end users of high-temperature plastic. Additionally, growing technological innovations in plastic manufacturing coupled with initiatives for sustainability in the overall manufacturing process have provided new growth opportunities for the regional market.

According to the data provided by the International Organization of Motor Vehicle Manufacturers, in 2023, automotive production in the U.S. stood at 10.61 million units, showcasing a 5.5% increase over 2022’s production figure. Likewise, Canada and Mexico also experienced significant growth of 26% and 14% in 2023.

Moreover, the growth shown by the electrical & electronics sector in the U.S. owing to the growing smartphone consumption growing shift toward the usage of durable and heat-resistant materials in consumer electronics is also expected to act as an additional driving factor for the high-temperature plastic market in the U.S. This augments the overall market growth during the forecast period.

High-Temperature-Plastic Market Key Developments
January 2024: Freudenberg Sealing Technologies developed a thermoplastic that withstands temperatures up to 1,200 degrees Celsius. The plastic is designed to be used in electric vehicle parts and would also act as a flame protection barrier for lithium-ion batteries.
April 2022: LG Chem developed an advanced plastic material with a heat resistance of up to 1,000 degrees. The material is designed to be used as a battery pack, especially for EV batteries, to prevent their thermal runaway. The engineered plastic comprises polyamide, polybutylene terephthalate, and polyphenylene oxide.
February 2022: DuPont announced the launch of five new grades of “Delrin” homopolymer, including the company’s “Delrin® RASC698” and “Delrin® RASC655,” which are ideal for food and medical contact applications. The products are highly fatigue—and temperature-resistant and offer outstanding mechanical properties. Through collaboration with Biesterfeld Plastic, DuPont plans to distribute its homopolymers in the EMEA region.
September 2021: Borealis collaborated with TOPAS Advanced Polymers to develop a new class-engineered material that bridges the gap between high-end plastic and standard polymers. The material would be used for temperature-resistant film capacitors, thereby making them ideal for traction inverters for electric mobility and inverters for wind and solar power generation.

The High-Temperature-Plastic market is segmented and analyzed as:

By Type
Fluoropolymers
Polyphenylene Sulphide
Polyimides
Polysulfone
Others
By End-User Industry
Automotive
Aerospace
Electrical and Electronics
Industrial
Medical
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Italy
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Thailand
Others