Polyphenylene Sulfide Market is expected to grow at a moderate CAGR from 2018 to 2023

Polyphenylene Sulfide Market

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.

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.

Global Key Players and Competition Analysis

Some of the key 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).

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Segmentation Analysis

The Global Polyphenylene Sulfide Market is categorized based on type, applications, and region. Based on the type, the market is segmented into virgin and recycled categories. Though the recycled products are cheap, they have inferior properties, high impurities, and environmental risks. Because of these reasons, the demand for the virgin product will increase during the review period. Based on the application segment, the global market is divided into automotive, electrical & electronics, industrial applications, filter bags, coatings, and others.

North America is expected to witness a significant growth because of the automobile industries along with the expanding aerospace sector. The technological advancements and increasing investments will be advantageous to the market growth. The demand for commercial aircraft is anticipated to rise in emerging economies due to the high focus on regional connectivity. European region has witnessed stagnant growth owing to limited production application in coal and thermal plants along with stringent regulation of government. Latin America is another substantial region propelling the market growth due to the growing automobile sector, especially in Mexico.

Regional Analysis

The Global Polyphenylene Sulfide Market is spanned across five key regions namely Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. The Asia Pacific is anticipated to show a considerable growth due to the presence of many automotive, electrical & electronics, and coating sectors in India, China, and Japan. The presence of automotive manufacturing bases such as Honda, Nissan, and Toyota coupled with increasing demands for sedans and SUVs are projected fuel the market growth in this region.

Market Scope

The growing product development for applications such as cooking appliances, hair dryer components, and others has positively favored the market growth. The filter bag produced using PPS is one of the best filter materials available, which is used in thermal, steel, iron, chemical plants, and others. Furthermore, growing demand for the product in the manufacturing of healthcare and laboratory equipment is likely to fuel the market growth.

Browse the market data and information spread across 140 pages with 33 data tables and 12 figures of the report “Polyphenylene Sulfide Market Research Report- Forecast to 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/polyphenylene-sulfide-market-5642

Industry News

March 08, 2018 MRFR Published a Half-Cooked Research Report on Global Polyphenylene Sulfide Market.

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About pradeepz

Industry Analysts, Monitoring Trends in Market Sectors Such as Food and Beverage, Nutrition, Chemicals & Materials, Energy and Power.
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