United States High Performance Polymers Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022-2027

Report Code: CMR 1274 Report Format: PDF + Excel

United States High Performance Polymers Market Overview

The United States high performance polymers market size is estimated to reach US$6.2 billion by 2027 after growing at a CAGR of around 7.7% from 2022 to 2027. High performance polymers also known as glass polymers are group of polymer materials, known to retain their desirable mechanical, thermal, and chemical properties when subjected to harsh environment such as high temperature or corrosive chemicals. Such polymers are of various types consisting of polyamides and polyaryletherketones, and are used in various industrial applications. In United States, high performance polymers have high applicability in sector like automotive sectors where they are used in bearings and gears, in construction sector they are used as nanocomposites, while in oil & gas sector they are used in pipes. Factors like an increase in deliveries of commercial aircraft, growing construction activities, high demand for textile and an increase in production of aircraft are driving the growth of United States high performance polymers market. However, changes in oil and gas policies by new administration can impact oil & gas production level, thereby having negative impact on usage of high performance polymers in oil sector in United States. Hence, this can hamper the growth of United States high performance polymers industry.

COVID-19 pandemic had huge negative impact on major end user of high performance polymers in United States such as automotive, construction and aerospace sector. High performance polymers is used in automotive in thrust washers & seal rings, in aerospace it is used in valve seats and pump gears, while in construction activities, it is used as nanocomposites and phthalonitrile adhesives. Hence, due to lockdown implemented in order to prevent widespread of virus, the output of such sectors decreased. For instance, according to International Organization of Motor Vehicle Manufacturer, in 2020, automotive production stood at 8.8 million units compared to 10.8 million units made in 2019, showing 18.5% decrease. Also, according to according to US Census Bureau, from January to May 2020, overall construction spending in US was reduced from US$68.4 billion to US$44.7 billion. Further, according to General Aviation of Manufacturers Association, in 2020, US manufactured aircraft shipment was 1,555 units in comparison with 1,771, showing 12% decrease. Such decrease in productivity of these sectors will create less usage of high performance polymers in them, which will negatively impact the United States high performance polymers industry.

Report Coverage

The “United States High Performance Polymers Market Report – Forecast (2022 – 2027)”, by IndustryARC covers an in-depth analysis of the following segments of the United States high performance polymers industry.

By Type – Polyaryletherketones, Aromatic Polyamides, Fluoropolymers, Sulfone Polymers, Liquid Crystalline Polymer, Resins (Epoxy, Phenolic, Cyanate Ester, and Benzoxazine), and Others
By Application – Seal Rings, Thrust Washers, Bearings & Gears, Flexible Risers, Insulation Material, Nanocomposites, Phthalonitrile adhesives, and Others 
By End Use Industry – Automotive (Passenger Vehicles, Heavy Commercial Vehicles, Light Commercial Vehicles, and others), Construction (Residential, and Commercial), Aerospace (Commercial Aviation, Military Aviation, and General Aviation), Oil & Gas Industry, Electronic, Textile, Medical, and Others

Key Takeaways

  • The growing demand for light and heavy commercial vehicles in United States will create more usage of high performance polymers in automotive sector for valves, gears and bearings.
  • High performance polymers have high applicability in medical sector where it is used in medical implants and surgical instruments, as they offer good chemical resistance, high temperature tenacity and excellent biostability.
  • Growing investment in residential and commercial construction in United States will provide growth opportunities for United States high performance polymers industry.

Figure: United States High Performance Polymers Market Revenue, by End use Industry, 2021 (%)

United States High Performance Polymers Market

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United States High Performance Polymers Market Segment Analysis – By Type

Polyaryletherketones accounted for approximately 22% of United States high performance polymers market share in 2021. Polyaryletherketones is rich in chemical, mechanical properties and is anti-corrosive in nature due to which it has high applicability in sectors like automotive, aerospace and oil & gas. The rapid growth in these sectors in United States on account of the increase in their demand has positively impacted usage of polyaryletherketones. For instance, according to International Organization of Motor Vehicle Manufacturer, in 2021, total vehicle production in US was 9.16 million units, showing 4% increase. Also, according to annual report of Boeing, in 2021, the revenue of the company on account of increased in production and sale, grew up to US$62,286 million in comparison with US$58,158 million made in 2020. Further, according to US Energy Information Administration, in 2019, crude oil production grew 11% surpassing 12 million barrels per day in comparison with 2018. Polyaryletherketones is used in automotive pistons and gears, in aircraft valve seats and in wear rings of oil pipelines. Hence, the increase in productivity of these sectors will increase the usage of polyaryletherketonesin United States, thereby boosting growth of United States high performance polymers industry.

United States High Performance Polymers Market Segment Analysis – By Application

Bearings & Gears accounted for approximately 27% of United States high performance polymers market share in 2021. High performance polymer such as polyaryletherketones and aromatic Polyamides has high thermal stability and excellent chemical resistance in high temperature, due to which they are majorly used in bears & gearing application in sectors like oil & gas. The increase in production level of crude of oil in United States on account of growing demand in oil market, has positively impacted the usage of high performance polymers solution for drilling components like bearing & gears. For instance, according to US Energy Information Administration, in November 2021, crude oil production of United States stood at 11.7 million barrels per day in comparison with 11.1 million barrels in 2020 same month, showing 5.4% increase. Such increase in oil production will increase the usage of high performance polymers in drilling components like bearing & gears due to their high mechanical properties. This will provide positive impact on the growth of United States high performance polymers industry.

United States High Performance Polymers Market Segment Analysis – By End Use Industry

Automotive sector accounted for approximately 25% of United States high performance polymers market share in 2021. High performance polymers have become an efficient substitute for metal in automotive sectors as it lessens the body weight and automotive and provides better fuel economy. Hence, due to benefits, high performance polymers are majorly used in automotive segments such as heavy trucks. The increase in production of heavy commercial vehicles in United States on account of growing demand from various end users has positively impacted the usage of high performance polymers usage in automotive sector. For instance, according to International Organization of Motor Vehicle Manufacturer, in 2021, heavy trucks production in United States was 2.88 million units showing 20% increase in comparison with 2.4 million unit made in 2020. Hence, such increase in production level of heavy trucks in United States will create more usage of high performance polymers like polyaryletherketones to be used in transmission system, pistons and gears. This will positively impact United States high performance polymers industry growth.

United States High Performance Polymers Market Drivers

Growing Construction Activities

High performance polymers have high applicability in construction sector due to their ability to withstand high temperature and pressure. Hence, they are used as insulation material in buildings, while as nanocomposites & phthalonitrile adhesives they increase the bonding strength of structures under high temperature. In developed economy like United States, construction sector has seen a significant growth on account of increase in residential construction. For instance, according to US Census of Bureau, in March 2022, building permits for privately owned housing units was issued for 1,873,000 units, showing 6.7% increase than 1,755,000 permits issued in March 2021. Further, according to another report by US Census Bureau, in November 2021, construction spending on healthcare was US$51.3 million showing 9% increase, compared to US$46.7 million in 2020 same month. Increase in issuing of residential units and expenditure of healthcare construction will increase the overall construction activities in United States, resulting in more usage of high performance polymers in construction sector. This will boost United States high performance polymers industry growth.

Increase in Commercial Aircraft Deliveries

In United States is hub to Boeing, one of the major commercial aircraft producers in the world. Owning to significant increase in air traffic, the demand for commercial aircrafts has also increased, resulting a raise in the delivery rate of such aircrafts. For instance, according to quarterly reports of Boeing, in Q2 of 2021, commercial aircraft deliveries of Boeing wad 79 units, showing an increase of 295% in comparison with Q2 of 2020. High performance polymers due to high strength-to-weight ratio, high heat and oxidative resistance and corrosion resistance nature makes them perfect substitute against metals, to be used in structural components of aircraft like wings, fuselage and stabilizers. The increase in deliveries of commercial aircraft on account of growing demand will raise the production level of such aircrafts, resulting in more usage of high performance polymers such as polyaryletherketones. This will boost the growth of United States high performance polymers industry.

United States High Performance Polymers Market Challenge

Change in Policies for Oil and gas Leasing

Exploring and drilling for oil disturb land and marine ecosystems as seismic techniques used to explore for oil under the ocean floor harm fish and marine mammals while drilling an oil well on land often requires clearing an area of vegetation leading. Hence, in order to reduce such environmental issues, the US government has introduced new policies. For instance, in January 2021, Biden administration halted new oil and gas leasing on federal onshore lands and offshore waters on account of change in oil & gas policies and moreover recently US government cancelled oil drilling lease sales in Gulf of Mexico and Alaska due to such changes. Hence, such policy shift will have significant implications on oil and gas production which in return will negatively impact the usage of high performance polymers in oil & gas sector. This will hamper the growth of United States high performance polymer industry.

United States High Performance Polymers Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. In United States high performance polymers market report, the United States high performance polymers top 10 companies are:

  1. 1. Amyris
  2. 2. Triton System
  3. 3. TRI Austin
  4. 4. Allegheny Performance Plastic
  5. 5. Dow Chemicals Company
  6. 6. Exxon Mobil
  7. 7. Nifco America Corp
  8. 8. InnoSense LLC
  9. 9. Material Science Corporation
  10. 10. Tetramer Technologies 

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1. United States High Performance Polymers Market- Market Overview
    1.1 Definitions and Scope
2. United States High Performance Polymers Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Application
    2.3 Key Trends by End Use Industry
3. United States High Performance Polymers Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. United States High Performance Polymers Market - Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. United States High Performance Polymers Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. United States High Performance Polymers Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. United States High Performance Polymers Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. United States High Performance Polymers Market – By Type (Market Size -US$ Million/Billion)
    8.1 Polyaryletherketones
    8.2 Aromatic Polyamides
    8.3 Fluoropolymers
    8.4 Sulfone Polymer
    8.5 Liquid Crystalline Polymer
    8.6 Resins
        8.6.1 Epoxy
        8.6.2 Phenolic
        8.6.3 Cyanate Ester
        8.6.4 Benzoxazine
    8.7 Others
9. United States High Performance Polymers Market – By Application (Market Size – US$ Million/ Billion)
    9.1 Seal Rings
    9.2 Thrust Washers
    9.3 Bearings & Gears
    9.4 Flexible Risers
    9.5 Insulation Material
    9.6 Others
10. United States High Performance Polymers Market – By End Use Industry (Market Size – US$ Million/ Billion)
    10.1 Automotive
        10.1.1 Passenger Cars
        10.1.2 Heavy Commercial Vehicles
        10.1.3 Light Commercial Vehicles
        10.1.4 Others (Three-Wheeler/ Two-Wheeler)
    10.2 Construction
        10.2.1 Residential
        10.2.2 Commercial
    10.3 Aerospace
        10.3.1 Commercial Aviation
        10.3.2 Military Aviation
        10.3.3 General Aviation
    10.4 Oil & Gas Industry
    10.5 Electronic
    10.6 Textile
    10.7 Medical
    10.8 Others (Marine, Plastics)
11. United States High Performance Polymers Market – Entropy
    11.1 New Product Launches
    11.2 M&As, Collaborations, JVs and Partnerships
12. United States High Performance Polymers Market – Industry/Competition Segment Analysis Premium 
    12.1 Company Benchmarking Matrix – Major Companies
    12.2 Market Share at Global Level - Major companies
    12.3 Market Share by Key Region - Major companies
    12.4 Market Share by Key Country - Major companies
    12.5 Market Share by Key Application - Major companies
    12.6 Market Share by Key Product Type/Product category - Major companies
13. United States High Performance Polymers Market – Key Company List by Country Premium Premium 
14. United States High Performance Polymers Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10 and more
* "Financials would be provided to private companies on best-efforts basis."