CHICAGO, July 20, 2023 /PRNewswire/ -- The report "Polymer Blends and Alloys Market by Type (PC, PPE/PPO-Based Blends and Alloys), Application (Automotive, Electrical and Electronics, Consumer Goods), and Region (Europe, North America, Asia Pacific, and RoW) - Global Forecasts to 2028", is estimated at USD 4.4 billion in 2022 and is projected to reach USD 6.6 billion by 2028, at a CAGR of 6.7% from 2023 to 2028. Factors such as the superior properties of polymer blends & alloys like impact resistance, durability, chemical resistance, thermal management capabilities, advancements in material science, and environmental considerations are positively driving the growth of the polymer blends & alloys market. Furthermore, the rising applications from emerging economies and the adoption of polymer blends & alloys will further propel the growth rate of the polymer blends & alloys market. The development of new technologies such as automation, and digital design tools is making producing polymer blends & alloys components easier and more cost-effective.
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PPE/PPO Based Blends and Alloys type segment is expected to account for the third largest market share in 2022.
PPE (Polyphenylene Ether) and PPO (Polyphenylene Oxide) are a family of thermoplastics known for their excellent thermal stability, electrical insulation properties, and dimensional stability. PPE is often blended with polystyrene (PS) to create PPE/PS blends. These blends offer a balance of properties such as high heat resistance, good dimensional stability, and improved impact strength. They are used in automotive applications, electrical and electronic components, and household appliances. PPE/PPO-based blends and alloys are valued for their excellent electrical insulation, thermal stability, chemical resistance, and dimensional stability. They offer a versatile range of properties and are used in diverse industries including automotive, electrical and electronic, appliance manufacturing, and industrial sectors. The PPE/PPO based blends and alloys type offers unique properties and advantages in various applications.
Consumer goods application segment held the fourth largest market share in the polymer blends & alloys market
Polymer blends & alloys are widely used in consumer goods applications, including appliances, electronic devices, furniture, sporting goods, toys, personal care products, and home goods. They offer versatility, design flexibility, and cost-effectiveness, making them ideal for creating durable and attractive products. These materials provide lightweight solutions, impact resistance, vibrant colors, and properties such as scratch resistance and ease of maintenance. Polymer blends & alloys enable manufacturers to produce consumer goods that meet the demands of consumers in terms of aesthetics, functionality, and performance.
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Europe is expected to account for the third largest share in 2022
The polymer blends & alloys market has been studied in North America, Europe, Asia Pacific, and Rest of World. The Europe polymer blends & alloys market is driven by the growing need for polymer blends & alloys in automotive, electrical and electronics, and other industries. Europe is known for its advancements in the electrical and electronics industry. Polymer blends & alloys are widely used in the manufacturing of electronic devices, connectors, housings, and insulation components. These materials offer excellent electrical insulation, thermal management, and design flexibility required for the fast-paced electronics market. The European region is third largest markets for polymer blends & alloys globally, with Germany, UK, and France being the major contributors to the market growth. Germany is the largest market for polymer blends & alloys in the Europe region, accounting for a significant market share.
Prominent companies include Covestro AG (Germany), BASF SE (Germany), Celanese Corporation (US), LG Chemical (South Korea), INEOS Styrolution Group GmbH (Germany), JSR Corporation (Japan), LyondellBasell Industries Holdings B.V. (US), Mitsubishi Engineering-Plastics Corporation (Japan), SABIC (Saudi Arabia), Daicel Corporation (Japan), Asahi Kasei Corporation (Japan), and CHIMEI (Taiwan), among others.
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