As per Global Market Insights Inc. estimates, the global high heat glass reinforced polyamide 66 market size is expected to exceed $4.6 billion through 2025.
Mounting adoption in manufacturing industrial components & heavy machinery is anticipated to impel high heat glass reinforced polyamide 66 market outlook. The product demand has been proliferating at an appreciable rate in regions such as South Korea, Japan, China, and India.
Rapid automation & industrial growth in developing regions like APAC will drive industry expansion
Emergence of automation in manufacturing and other related activities will offer an opportunity for the high heat glass reinforced polyamide 66 market to grow exponentially over the projected timeframe.
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Developing nations in the APAC region are undergoing persistent technological evolutions, with workplace automation using robotics and AI (artificial intelligence) to rise immensely in the forthcoming years. Studies suggest that automation may account for over 23% of the work being done across the APAC region in the years ahead.
Limited product supply and industry players to hinder market growth
Fluctuations in product supply across the world are likely to impede the industry expansion over the forecast spell.
Adiponitrile is a significant raw material that is highly used in developing the product, with manufacturing facilities in Japan, France, and the U.S. Limited producers of this material, coupled with shifting production trends will adversely impact the global high heat (heat stabilized) glass reinforced polyamide 66 market forecast.
Wide applications in electrical components to stimulate market trends
The global high heat glass reinforced polyamide 66 industry from the recycled segment is poised to register a CAGR of nearly 6.5% through 2025. Increasing prevalence of the segment as compared to the virgin grade segment can be attributed to its capability to produce sentimentally benign products, which will further amplify market expansion in the coming years.
Furthermore, the >45% glass reinforcement product segment is set to capture a revenue share of nearly $400 million by 2025. The segment has been gaining vast prominence owing to its use in various applications that involve high strength and service temperatures of over 130°C. Myriad benefits are displayed by these products, which include dimensional stability, good chemical resistance, high rigidity, and low warpage.
With regards to the end-user spectrum, the electrical segment is poised to exhibit a growth rate of nearly 7% through 2025. The product finds wide applications in electrical components such as insulators, switches, cable glands, connectors, solar cells, terminal blocks, and lighting parts, among others.
High heat glass reinforced polyamide 66 is abrasion resistant and has high tensile strength, which has led to its extensive usage in the electrical industry. Rapid growth of this industry in terms of technology and innovation will thus add impetus to the market expansion.
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Increasing automotive plants in Mexico to present lucrative opportunities for market growth
On the regional front, the Latin America high heat glass reinforced polyamide 66 market is projected to record remuneration worth $250 million over 2024.
The product has recorded a high demand in major countries including Mexico and Brazil. Rising demand, alongside accelerating manufacturing industries’ growth in Brazil will create a significant prospects for the industry development over the estimated timeframe. Rising number of automotive facilities has been observed in Mexico, which is also likely to give major contributions to product demand in years ahead.
Key high heat glass reinforced polyamide 66 industry participants include SABIC, Dow Dupont Inc., Tenkor Apex, Ascend Performance Materials, and BASF SE, among others.
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