Newark, NJ, Nov. 17, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global polyphenylene sulfide (PPS) market is expected to grow from USD 1.1 billion in 2020 and reach USD 2.19 billion by 2028, growing at a CAGR of 9% during the forecast period 2021-2028.
In the future years, market development will be aided by increased car production, particularly in China, Indonesia, Mexico, the United States, Germany, South Korea, Japan, Taiwan, and Malaysia. In nations like India, China, and Brazil, the automotive sector is expected to develop rapidly. Reduced vehicle weight has become more important as a result of the requirement for reduced emissions and better fuel economy. Companies are seeking for polymer alternatives to metal parts, which is expected to increase PPS use in the next years. The growth of Asia Pacific's road networks, as well as regional governments' commitment to industrial and infrastructural development, are expected to improve vehicle sales and, as a result, have a positive influence on the Polyphenylene Sulfide (PPS) market in the coming years.
PPS (polyphenylene sulfide) is a semi-crystalline polymer with a stiff backbone made up of p-substituted benzene and sulfur rings. There are two types of linear polymers: linear polymers and other substances. Polyphenylene Sulfide (PPS) is also a high-performance engineering material with excellent mechanical properties (stiffness, creep resistance, and strength). Chemical resistance, temperature resistance, fire resistance, flow ability, and electrical qualities allow it to maintain dimensional stability in harsh environments. Due to its low viscosity, Polyphenylene Sulfide (PPS) may be molded into desired forms. PPS is also excellent for electrical and intense temperature applications because to its flame retardancy. Polyphenylene Sulfide (PPS) is a corrosion-resistant coating for food containers that is inert to inorganic salts, organic solvents, and bases. PPS is useful for automobile components, culinary appliances, hand grills, and laboratory equipment because of its exceptional resistant capabilities. PPS's electric insulating properties, along with its heat resistance, make it ideal for lamp reflector manufacture. Polyphenylene sulfide (PPS) is environmentally friendly since it is recyclable.
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Polyphenylene sulfide (PPS) is a crystalline polymer with good chemical resistance, temperature performance, and other qualities that are expected to drive demand in the coming years. The demand for PPS is expected to increase since it is used to manufacture different electronic components such as coil formers, connectors, circuit breakers, micro switches, HDD actuators, bobbins, relay components, terminal blocks, brush holders, thermostat parts, motor housings, and switch components. PPS has a wide range of applications in the automotive sector, which has resulted in growing demand from nations that produce automobiles. With the increased usage of composites in airplane production, they are expected to see more application in aviation manufacture.
Key players operating in global polyphenylene sulfide (PPS) market include Sabic, Kureha Corporation, Sk Chemicals, Lion Idemitsu Composites Co., Ltd, Zhejiang Nhu Special Materials Co., Ltd., Kureha Corporation, Fortran Industries Private Limited, Solvay SA, Tosoh Corporation and Dic Corporation. To gain a significant market share in the global polyphenylene sulfide (PPS) market, the key players are now focusing on adopting strategies such as mergers & acquisitions, recent developments, collaborations, jointventure, product innovations, and partnership. Sabic and Solvay Group are some of the key manufacturers operating in polyphenylene sulfide (PPS) market.
- For instance, in 2017, DIC corporation is to set a compounding facility in China, which is the largest market for PPS globally.
Automotive segment dominated the market and held the largest market share of 30.9% in the year 2020
Based on application, the global polyphenylene sulfide (PPS) market is segmented into Electrical & Electronics, Automotive, Coatings, Industrial, Others. Automotive segment dominated the market and held the largest market share of 30.9% in the year 2020. PPS is utilized in the automobile sector to make under-the-hood components such as engines and vehicle body pieces that must withstand extreme temperatures and pressures. At high temperatures, PPS is resistant to gasoline, transmission, and braking fluids. Fuel system parts, induction systems, coolant systems, lighting components, and electrical and electronic components are all examples of automotive components.
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Regional Segment of Polyphenylene Sulfide (PPS) Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the global polyphenylene sulfide (PPS) market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region held the largest market share of 27.16% in the year 2020. This growth is ascertained due to the usage of polyphenylene sulfide in air and waste management is expected to increase demand in North America. Furthermore, the rapidly growing automobile industry is expected to boost product consumption in the United States. The Corporate Average Fuel Economy (CAFE) rules are forcing automakers to look for materials that are both lighter and less expensive than metal. Leading automakers such as Nissan, Honda Motors, and Mazda have begun producing vehicles in Mexico. Modern vehicle introductions by Ford and GM are expected to boost this sector's growth, boosting polyphenylene sulfide usage in the area. Aerospace, military, and filter bags are some of the other uses. The commercial aerospace sector in the nation is likely to be boosted further by the rapid replacement of old aircraft with next-generation, fuel-efficient aircraft. The country's vehicle market accounts for more than 29% of Europe's overall vehicle industry share. The future expansion of the PPS market in Germany is projected to be aided by the country's growing automobile sector.
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About the report:
The global polyphenylene sulfide (PPS) market is analysed based on value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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