The polyphenylene ether alloy market share is poised to be impelled by the growing demand for hybrid and electric vehicles on account of rising awareness regarding environmental pollution and favorable government policies.
Therefore, automakers are persistently making investments in the electric vehicle industry, creating extensive opportunities for PPE alloys. The industry growth is further driven by a rise in the development of value-added products by leading polyphenylene ether manufacturers.
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For instance, in August 2021, SABIC, announced the launch of NORYL AP2001G polyol to be deployed in cast PU (polyurethane) applications. By partially replacing PTMG (polytetramethylene ether glycol) or PPG (polypropylene glycol), this oligomer of PPE (polyphenylene ether) improves the performance of cast PU systems by enhancing both elasticity and hardness.
Propelled by similar advancements, the polyphenylene ether alloy market size is anticipated to record USD 2 billion through 2027, as stated by the latest study by Global Market Insights, Inc.
Major trends likely to reshape the future of polyphenylene ether alloy industry growth are as follows:
Rising product demand in the Asia Pacific
The Asia Pacific polyphenylene ether alloy market will capture a valuation of more than USD 950 billion over the estimated period. A prominent raw material supplier, China, underwent a lockdown in December 2019, that resulted in adverse impacts on the supply chain.
However, the supply is set to restore with the lifting of lockdown restrictions in these countries. The demand for raw materials is expected to increase driven by a rise in construction activities, consumer electronics, and electric vehicles in the ensuing years.
Increasing usage across industrial applications
Polyphenylene ether alloys are utilized in industrial applications owing to the surging regulations for the reduction of corrosion. Industry players are increasingly considering PPE alloys over metal for enhancing equipment life and the reduction of corrosion.
The escalating usage of the product is expected to augment the business landscape through the estimated period. The industry growth is impelled by a rise in electrical & electronics industries, impelled by the technological developments and regional demand.
Imposition of government restrictions in North America
The North America polyphenylene ether alloy market share will grow on account of the presence of major market participants and expansion ground for consumer electronic devices and automotive materials. The regional growth is likely to be affected by the supply of essential raw materials and has become a challenging situation from the logistics and supply chain perspective. This is further supplemented by regulatory restrictions on the transportation of non-essential commodities.
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Growing product consumption in healthcare infrastructure
The increasing healthcare infrastructure in developing and developed countries is on account of the soaring awareness regarding healthcare and fitness among the younger population. In the context of healthcare equipment and medical instruments, PPE polymers provide additional advantages over metals comprising low moisture absorption, customizability, and easy processability. This makes it a preferred solution for medical-grade equipment.
Polyphenylene blends with polyamide for the production of thermoplastics that could be deployed in medical devices, meeting the requirement for flexible, hard, and lightweight materials at affordable prices.
On the whole, the worldwide soaring demand for electrical vehicles is expected to augment polyphenylene ether alloy industry expansion through the projected period.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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