The global polyphenylene sulfide market size is expected to
reach USD 2.14 billion by 2025, according to a new report by Grand View
Research, Inc. It is anticipated to witness a CAGR of 8.8% during the forecast
period. Several characteristics including high creep resistance, stiffness and
strength, excellent temperature properties, and good chemical resistance are
the key factors driving the PPS market growth.
The consumption of in automotive industries is projected
to exhibit a significant growth owing to rising application in carburetor
parts, exhaust gas return valves, flow control valves intended for heating
systems, and ignition plates. PPS is also utilized in industrial applications
including grills, hair dryer parts, cooking appliances, as well as serializable
laboratory, dental, and medical equipment. This factor is anticipated to spur
the product demand over the next few years.
Asia Pacific is anticipated to showcase substantial
growth in light of rising living standard and increasing industrialization
especially in China and India. Moreover, rising automotive, oil and gas, paints
and coatings, and medical sectors will fuel expansion of the PPS market over
the next seven years.
Growing demand for electrical and electronics components,
including brush holders, motor housing, coil formers, connectors, terminal
blocks, and thermostats and switch components in emerging economies including
India, China, Malaysia, and Indonesia owing to rising disposable income of
consumers is expected to propel polyphenylene sulfide market growth.
Rising consumption in coating applications owing to the
high heat resistance, chemical resistance, and excellent electrical properties
of polyphenylene sulfide will augment the demand. Also, high consumption in
non-stick cookware, food processing, and chemical processing equipment will
stimulate product penetration over the next few years.
Access Research Report of Polyphenylene Sulfide Market @ https://www.grandviewresearch.com/industry-analysis/polyphenylene-sulfide-pps-industry
Further
key findings from the report suggest:
· In terms of revenue, electronics and
electrical application is projected to ascend at a CAGR of 8.8% over the
forecast years
· Automotive application led the global PPS
market with a volume share of over 31.8% in 2018
· Industrial, constituting a revenue share of
24.5% in 2018, is projected to exhibit a high growth in the next few years
· Asia Pacific led the global Polyphenylene
Sulfide (PPS) market in 2018 with 62.1% volume share. This trend is projected
to continue over the next few years
· Growing aviation industry on account of
increasing government investments in aerospace mainly in India, South Korea,
Singapore, and Malaysia is further expected to propel the demand from aerospace
market
· The market is highly competitive in nature.
The main players include DIC, Toray Industries, Tosoh Corporation, SK
Chemicals, Daicel Corporation, SABIC, Teijin Ltd. and RTP Company
· Various manufacturers are concentrating on
new product launches, capacity expansions, and technological innovations to
estimate existing and future demand patterns from upcoming application
segments.
Grand View Research has segmented the global
Polyphenylene Sulfide market on the basis of application and region:
Polyphenylene Sulfide (PPS) Application Outlook (Volume,
Tons; Revenue, USD Million, 2014 - 2025)
·
Automotive
·
Electrical & Electronics
·
Industrial
·
Coatings
·
Others
Polyphenylene Sulfide (PPS) Regional Outlook (Volume,
Tons; Revenue, USD Million, 2014 - 2025)
·
North America
o U.S.
·
Europe
o Germany
·
Asia Pacific
o Japan
o China
·
Central & South America
o Brazil
·
Middle East & Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
