Polyphenylene Sulfide Market Is Estimated To Grow At A Significant CAGR During The Forecast Period 2022-2030

Pune, India, March 08, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Polyphenylene Sulfide Market.

Market Overview                                                 

Polyphenylene sulfide (PPS) is an organic polymer consisting of aromatic rings linked with sulfides. The distinguished properties of PPS such as flame retardant, chemical resistant, corrosion resistant, dimensional stability, and low moisture absorption are responsible for substitution of heavy metals, mainly required in major end-use industries such as automotive and aerospace. The surging demand for the product in the automotive and electrical industry is expected to propel the market growth during the forecast period. The increased fuel efficiency and weight reduction potential by the use of PPS in automotive are one of the major drivers of the global polyphenylene sulfide market. Additionally, increasing consumption of the product in electrical and electronic appliances such as non-stick cookware, fans & blowers, and hairdryer components are likely to favor the market growth. It is an entirely recyclable, environment-friendly compound and a fine alternative to other polymers such as epoxy, ABS, PTFE, PEI, PVDF, and others.

Radical improvements in advanced avionics, operating efficiency, and use of new electrical systems are rapidly changing the manufacturing of the aircraft. Advanced platforms, which are already in the production such as Boeing’s 787, 737 MAX including A330, and others are expected to boost the market growth.

The extensive use of filter bags in steel, chemical, and thermal plants is fuelling the global market of polyphenylene sulfide. Furthermore, the product provides sterilizable healthcare and laboratory equipment, which may effectively rise the market growth.

However, rising demand for substitutes such as PEI, polyamide, and PEEK coupled with the high cost of polyphenylene sulfide may restrain the market growth.

Market Segmentation

The global polyphenylene sulfide market is segmented on the basis of type, applications, and region.

Commercially, the PPS is manufactured in two types: virgin and recycled. The virgin type PPS is costly and contains lesser impurities and environmental risks as compared to the recycled type.

On the basis of the application, the market is segmented into automotive, electrical & electronics, filter bags, industrial applications, aerospace, coatings, and others.

Regional Analysis

The global polyphenylene sulfide market is segmented into five major regions of Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

The Asia Pacific is the fastest growing region in terms of value on account of the presence of a large number of automotive, and electrical and electronics industries. Countries such as China and India are the major contributors to the regional market growth due to the increasing demand for advanced and efficient automotive. The presence of renowned automotive manufacturers such as Honda, Nissan, and Toyota in Japan has fuelled the market growth in this region. High production of automobiles in countries such as Thailand and South Korea is further anticipated to favor the market growth in coming years.

North America is another substantial contributor to the global market growth owing to the mature automotive sector and growing aerospace sector. Increasing demand for the product from the established aircraft manufacturers such as Boeing, GE Aviation, Northrop Grumman in the U.S is the major driver of the market in this region.

The growth of the market is sluggish in Europe due to the stringent Government regulations for environmental safety despite the presence of coal and thermal plants in this region.

Latin America is expected to join hands with the leading region's growth in the coming future due to the growing automotive industries, especially in Mexico.

 Competitive Analysis

Some of the major market players in the global polyphenylene sulfide market are Tosoh Corporation (Japan), TORAY INDUSTRIES, INC. (Japan), Celanese Corporation (U.S), SK Chemicals (South Korea), Solvay (Belgium), KUREHA CORPORATION (Japan), Polyplastics Co., Ltd. (Japan), DIC CORPORATION (Japan), Chevron Phillips Chemical Company (U.S), Haohua Honghe Chemical Co., Ltd. (China), Kotec Corporation (Japan), TEIJIN LIMITED (Japan), NHU Materials Co. (China), SABIC (Saudi Arabia), and Aetna Plastics Corp. (U.S).Access Full Report Details - Polyphenylene Sulfide Market Share