New York, NY, Jan. 29, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Polyphenylene Sulfide Market by Application (Aerospace, Electrical & Electronics, Coatings, Automotive, Filter Bags, Industrial, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2025”. According to the report, the global polyphenylene sulfide market was valued at USD 1.31 billion in 2018 and is expected to reach around USD 2.47 billion by 2025, at a CAGR of 8.20% between 2019 and 2025.
Polyphenylene sulfide or PPS is an organic compound used in various applications, such as coatings, electrical and electronics, filter bags, and automotive. It has excellent properties, such as chemical resistance, high-temperature resistance, dimensional stability, flowability, etc. Polyphenylene sulfide is filled with fillers and fibers to overcome its inherent brittleness.
Browse through 37 Tables & 33 Figures spread over 110 Pages and in-depth TOC on “Global Polyphenylene Sulfide Market: By Applications, Size, Industry Share, Growth, Segments, Analysis and Forecast 2018—2025”.
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The global polyphenylene sulfide market is likely to grow considerably over the estimated timeframe, owing to the rapidly expanding automobile industry across the globe. Polyphenylene sulfide is widely used in automobiles, owing to its high-temperature resistance characteristics. This polymer also exhibits high flame and fuel resistance, which makes it suitable for various automobile parts. Moreover, the rising demand for filter bags in dust chamber filters and coal boilers is likely to further fuel the polyphenylene sulfide market in the future. However, the availability of substitutes, such as PEEK (polyether ether ketone) and PEI (polyetherimide), and the fluctuating prices of raw materials of polyphenylene sulfide might hamper the polyphenylene sulfide market growth on a global scale. Conversely, the growing focus on the production of bio-based engineering plastics is projected to offer lucrative growth opportunities for the polyphenylene sulfide market players in the future.
The global polyphenylene sulfide market is segmented on the basis of the application. The application segmentation of this global market includes aerospace, electrical and electronics, coatings, automotive, filter bags, industrial, and others. The automotive sector is the largest market contributor and is projected to maintain its dominance in the future as well. In the year 2017, the automotive segment held about 30% share of the global polyphenylene sulfide market. Additionally, the electrical and electronics sector is expected to grow at the fastest rate in the future, owing to the growing demand for electrical components and appliances globally.
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By region, Asia Pacific is the most dominating region and is projected to continue its dominance over the estimated time period as well. The region’s rapidly growing automotive industry is anticipated to drive the polyphenylene sulfide market in the future. The increasing vehicle production in China, Japan, South Korea, Thailand, and Taiwan is expected to boost polyphenylene sulfide market growth in the upcoming years. China is projected to be the highest regional revenue contributor among all the nations in the region, due to its thriving automobile and electrical industries. China is emerging as one of the major manufacturers of electrical and electronic products. This, in turn, is likely to further propel the polyphenylene sulfide market across the region in the future.
The North American polyphenylene sulfide market has expanded significantly in the past few years, owing to the increasing demand for polyphenylene sulfide by automotive and aerospace sectors. In 2016, the U.S. held the largest market share, followed by Canada, and is anticipated to maintain its growth in the future, owing to the increasing application of polyphenylene sulfide in various industries. Moreover, the surging product demand by the aircraft manufacturing companies, such as GE Aviation, Northrop Grumman, and Boeing, in the U.S is another key driver likely to fuel this regional market in the upcoming years.
Browse the full “Polyphenylene Sulfide Market by Application (Aerospace, Electrical & Electronics, Coatings, Automotive, Filter Bags, Industrial, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2025” Report at https://www.zionmarketresearch.com/report/polyphenylene-sulfide-market
Europe is projected to grow substantially in the next few years due to the saturated automotive industry in the region. The growing transportation industry has boosted the demand for the automotive sector, thereby, propelling the application of polyphenylene sulfide to manufacture various vehicle components. However, the enforcement of strict regulations to promote environmental safety might hamper the region’s polyphenylene sulfide market in the future.
The Latin American polyphenylene sulfide market is expected to grow rapidly in the upcoming years, owing to the rising demand for polyphenylene sulfide by the automotive industry. Polyphenylene sulfide is widely used in the automotive sector due to its versatile properties, such as scratch resistance, abrasion resistance, easy moldability, thermal stability, and excellent appearance.
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The Middle Eastern and African polyphenylene sulfide market is projected to grow gradually in the future, owing to the increasing use of polyphenylene sulfide in various electronics and electrical applications, such as heat exchangers, fans and blowers, switches, connectors, circuit breakers, CD/DVD optical pickup components, and inkjet cartridges.
Some key manufacturers of the global polyphenylene sulfide market are Solvay S.A., Toray, DIC Corporation, Initz Co. Ltd., Tosoh Corporation, Kureha Corporation, Celanese Corporation, Chengdu Letian Plastic Co. Ltd., SK Chemicals, Albis Plastic GmbH, and SABIC, among others.
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This report segments the global polyphenylene sulfide market into:
Global Polyphenylene Sulfide Market: Application Analysis
- Automotive
- Electrical and Electronics
- Filter Bags
- Aerospace
- Industrial
- Coatings
- Others
Global Polyphenylene Sulfide Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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