The worldwide thermoplastic polyester market is projected to exhibit healthy CAGR during the forecast period. A thermoplastic polymer, also known as “thermosoftening plastic” or “thermoplastic”, a type of plastic polymer that has characteristics of a polymer resin. This material develops soft when heated and can be molded into any desired size and shape. When it is cooled, it becomes rigid and hard and remains in the developed size and shape.
Increasing production and demand for automobiles industry in developing economies such as India, and China, and rising awareness are likely to spur the demand for the market in the forthcoming period. In addition, increasing R&D activities by several companies, and growing usage in a variety of applications comprising capacitor films, polymer fabrics, and packaging are also drive the demand for thermoplastic polyester market growth. However, degradability of thermoplastics and strict government rules and regulations regarding manufacturing procedures is likely to hamper the thermoplastic polyester market growth in the years to come.
In June 2017, GKN and Solvay Aerospace teamed up in order to accelerate the acceptance of thermoplastic composite materials on aircraft, with Solvay becoming the supplier of lightweight material to Fokker. In February 2018, Evonik Acrylics Africa, a specialty plastics manufacturing company, declared that it is now an exclusively owned Evonik Enterprise without any joint venture associates.
Extensive R&D by players like Mitsubishi Chemicals and DuPont aims at product growth is anticipated to drive the market competitiveness. Asia-Pacific is one of the prominent regions that will continue to account for a large share in the thermoplastic polyester throughout the forecast period, owing to growing investments, particularly in the consumer goods industry.
Leading players operating in the thermoplastic polyester market include A. Schulman, DuPont, BASF, Covestro, Ashland, Mitsubishi Chemicals, SABIC, Arkema, Evonik Industries, Royal DSM NV, LG Chem Ltd, SABIC, Eastman Chemical Company and Solvay Plastics. Mergers, expansions, acquisitions, and new product development are some of the most extensively accepted strategies by industry companies, both small and large.
Leading players of Thermoplastic Polyester including:
• Taiwan Changchun
• iangyin Hetron
• SK Chemicals
• LG Chem
• Gromax Chemical
• Mitsubishi Chemical
• Sichuan Sunplas
Market split by Type, can be divided into:
Market split by Application, can be divided into:
• Automotive Industry
• Industrial Products
• Consumer Products
Market split by Sales Channel, can be divided into:
• Direct Channe
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Research Support Specialist, USA