Selbyville, Delaware, April 29, 2021 (GLOBE NEWSWIRE) -- According to the report published by Global Market Insights Inc., the Polyphenylene Ether Alloy Market size was estimated at $1.3 billion in 2020 and is slated to surpass $2 billion by 2027, registering a CAGR of 5.7% from 2021 to 2027. The report provides a comprehensive analysis of the market size & estimations, drivers & opportunities, major investment pockets, competitive scenario, wavering market trends, and top winning strategies.
The automotive end-use industry segment is expected to rise with a 5.8% CAGR between 2021 and 2027. The segment has a high growth potential supported by the rising demand for electric and hybrid vehicles owing to favorable government policies and growing awareness of environmental pollution. As a result, automakers are continuously investing in the electric vehicle market, creating wide opportunities for PPE alloys. Intense competition among market leaders has led to the offering of value-added products in the market. Companies are significantly investing in R&D to make cost-effective, functional, and more ductile products.
Request for Sample Report: https://www.gminsights.com/request-sample/detail/3560
The electrical & electronics and healthcare industries expected to register high demand in coming years, which is attributed to regional demand and technological developments. Polyphenylene ether alloys are also used in industrial applications due to increasing regulations to reduce corrosion. Companies are increasingly preferring PPE alloys over metal to reduce corrosion and increase equipment life. Increasing industrial usage of products anticipated to drive the polyphenylene ether alloy market growth in the next few years.
The rapidly growing healthcare infrastructure in developed and developing countries is due to the rising awareness of fitness and healthcare among the younger population. It has been already proved that polymers have additional advantages over metals in the context of medical instruments and healthcare equipment. Easy processability, customizability, and low moisture absorption make it a preferred solution for medical-grade equipment. Polyphenylene ether alloys do not retain bacteria and do not fade after frequent sterilizations. Polyphenylene blends with polyamide to produce thermoplastics that can be used in medical devices, meeting the need for hard, flexible, and lightweight materials at affordable prices.
North America is a mature market for automotive materials and consumer electronic devices with the presence of a large number of industry players. The supply of essential raw materials has become a challenging situation from the supply chain and logistics perspective. Government restrictions on the transportation of non-essential commodities will also affect the market share.
Asia Pacific is the fastest-growing market and shall exceed revenue generation of over USD 950 billion by 2027. China, a major raw material supplier, underwent a lockdown in December 2019, which led to adverse effects on the supply chain. Supply will restore as countries lift their lockdowns. The rapid rise in electric vehicles, consumer electronics, and construction activities is anticipated to boost the raw material demand in the coming years.
Request for customization of this report: https://www.gminsights.com/roc/3560
Leading market players:
Major companies operating in the Polyphenylene Ether (PPE) alloy industry are Asahi Kasei Plastics, Samyang Corporation, LG Chem, SABIC, Nylene, LyondellBasell, Mitsubishi Engineering-Plastics, ROMIRA GmbH, Nytef Plastics, Shuman Plastics, PolyOne Corporation, Ashley Polymers, Lubrizol Advanced Materials, Polygram Plastic Industries, and Korea Kumho Petrochemical.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.