Polyphenylene Sulfide Market Worldwide Comprehensive Review Economic Trends, Industry News, Forecast to 2023
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.
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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 fueling 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.
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).
The global polyphenylene sulfide market is segmented based on 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.
Based on the application, the market is segmented into automotive, electrical & electronics, filter bags, industrial applications, aerospace, coatings, and others.
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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 many 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.
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.
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
5 Industry Overview Of Global Polyphenylene Sulfide Market
5.2 Growth Drivers
To Be Continue…….
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