Heavy investment in product development and innovation to meet high performance requirements from end-users will help the European engineering polyesters market to boost sales in new application segments, according to a new Frost & Sullivan report, "European Markets for Engineering Polyesters."
The research shows that the European markets for engineering polyesters earned revenues of EUR510.5 million in 2005 and is estimated to to reach EUR743.1 million in 2012.
"Continuously intensifying performance requirements in many applications are driving the usage of engineering polyesters," notes Frost & Sullivan Senior Research Analyst Hariharan Ramasubramanian.
"Miniaturization has seen operating conditions such as temperature and mechanical stress rise drastically in automotive as well as electrical and electronic applications, compelling the use of higher performance engineering polyesters."
Product development by engineering thermoplastic companies will help them to achieve objectives such as improved performance, aesthetics and compliance with regulatory requirements, the report noted.
Environmental regulations will soon be enforced on engineering polyester suppliers that will have a significant impact on the use of their materials, the most significant having to do with the use of halogenated fire retardants in engineering polyesters.
"A number of suppliers have already started offering halogen-free grades, in anticipation of environmental safety regulations, and therefore will be least affected and well prepared to meet the requirements of this regulation," explained Ramasubramanian. "However, suppliers who had not invested in finding alternative materials to these commonly used fire retardants will be faced with problems in continuing their activities in this market."
To overcome the threat of market saturation, suppliers in the European polybutylene terephthalate (PBT) market should focus primarily on product and application development, the report suggested.
