25 June 2013 21:33 [Source: ICIS news]
HOUSTON (ICIS)--US demand for high-temperature plastics is forecast to rise by 5.8% per year to reach $3.1bn (€2.4bn) in 2017, spurred by the replacement of conventional materials, a research firm said on Tuesday.
The projected advances will be propelled by the adoption of high-temperature plastics over products such as metal, glass and other polymers in a wide variety of applications, according to a study by the Cleveland-based industry research firm The Freedonia Group.
An improving economic outlook and rising consumer confidence will additionally support the output of durable goods such as electrical equipment, electronic products, machinery and transportation equipment, Freedonia said.
Fluoropolymers will continue to offer the best opportunities for growth, making more than 40% of market value gains between 2012 and 2017, while polyketones should see the most rapid demand gains during the same period, although from a relatively small base.
Key high-temperature plastics sectors are expected to grow to $900m in 2017 for electric and electronic applications, to $855m for industrial and to $615m for transportation equipment, Freedonia said.
($1 = €0.76)
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