Polyphenylene Sulfide Market Size is projected to reach USD 3.28 billion by 2030, growing at a CAGR of 8.85%: Straits Research

New York, United States, July 26, 2022 (GLOBE NEWSWIRE) -- The semi-crystalline polymer polyphenylene sulfide (PPS) has a high melting point and is made up of many connected aromatic rings. The synthetic fibre made from the substance is renowned for its good mechanical and temperature qualities and high thermal and chemical resistance. It has specific properties like flame retardancy, high heat deflection, and outstanding dimensional stability. It is thermoplastic by nature. It is also renowned for its consistently high service temperatures, which often fall between 1800 and 2400 °C.
Commercially available forms and grades of polyphenylene sulfide include fibers, compounds, films, filaments, and coatings. Its resins are frequently strengthened with other materials, particularly glass fibers and reinforcing elements, to improve their thermal and mechanical qualities. The majority of these chemicals are used in injection molding procedures. Conveyor belts, filtration media, and various textiles and fibers can be created from an empty product resin by melting it down and blowing it up.

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A Newer Grade of Polyphenylene Sulfide Gains Popularity Hence Increasing Demand for PPS Resins
Electronics, automotive, mechanical, and numerous other industrial applications employ PPS resin polymers often. Extreme pressure and temperature conditions are offered by all of these applications and traditional sorts of end uses. As a result, offering sustainable grades of polyphenylene sulfide (PPS) resins became crucial for PPS resin makers.

The development and sale of PPS resins with conductive, magnetic, and low-wear properties is presently a goal of PPS resin producers. PPS resins in many end-use applications are anticipated to increase due to these improved grades.
In addition, newer grades can now be extruded or blow-molded thanks to technological improvements. The focus of enormous prospective prospects for market players is supported by a rise in global demand and newer grades of PPS resins.

Increasing Demand for PPS in the Automotive Industry
The automotive industry is the primary factor driving the high growth rates of the polyphenylene sulfide market demand worldwide. The rear windshield glazing, instrument panels, headlamp lenses, door panels, wheel covers, center consoles, roof modules, interior trims, door handles, bumpers, and housings are just a few typical and recently created automotive applications that use it. It is also employed in numerous automotive applications, including chassis, powertrain, trim, and electrical components. Flexibility in design, ease of assembly during manufacturing, and the possibility for weight reduction are the main factors driving the growth of the polyphenylene sulfide market in the automotive industry. The automotive industry's market share of polyphenylene sulfide is also growing due to the increasing demand for high-performance materials in various applications in an automobile engine compartment.

Growth Opportunities for the Global Market for Polyphenylene Sulfide
Increasing Competition Soon Because of Emerging Local Players
To expand the application space and thus boost the players' market position, numerous top businesses in the worldwide polyphenylene sulfide market have been introducing new products with more sophisticated characteristics. As an illustration, DIC introduced impact-modified PPS, an elastomer-modified PPS with characteristics like elongation, enhanced strength, outstanding performance even under high temperature and humidity, and reduced flash level. In addition, a few significant businesses are growing their manufacturing capacities to meet the rising demand for PPS. For instance, the specialty materials manufacturer Celanese Corporation stated in April 2014 that it would be expanding its factory in Nanjing, China. The business built a new PPS compounding machine for the plant to substitute thermosets and metals in several applications, such as aerospace, automotive, and electronics. With numerous local competitors concentrating on capturing the potential growth prospects on offer, the PPS market is anticipated to experience increased rivalry soon.

Report Scope:

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Regional Analysis of the Global Market for Polyphenylene Sulfide
The global market for polyphenylene sulfide is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Asia-Pacific will soon dominate the market. Asia Pacific's market is growing due to the increased use of PPS in automotive components and coal-fired power plants. Companies looking for polymer replacements for metal parts will increase automotive PPS use. Honda, Hyundai Motors, and BMW are investing heavily in Asia-Pacific. These efforts foster market expansion. North America produces most PPS resins because of its well-established primary players. U.S. factories make a lot of PPS resin. Europe's electronic industry manufactures coil formers, circuit breakers, connectors, micro switches, relay components, HDD actuators, terminal blocks, thermostat parts, brush holders, motor housings, and switch components, drives the market's growth. Growing consumer awareness of eco-friendly materials fuels the PPS industry in Latin America. The Middle East and Africa grew steadily due to advances in PPS manufacturing and use.

Key Highlights

• The global market for polyphenylene sulfide was valued at USD 1.53 billion in 2021, and it is anticipated to reach USD 3.28 billion by 2030 at a CAGR of 8.85%.
• The global polyphenylene sulfide market size is divided into three parts based on type, end-user, and region. The market for polyphenylene sulfide is further segmented based on type: linear PPS cured PPS and branched PPS.
• Based on the end-use industry, the market for polyphenylene sulfide is further segmented into automotive, electrical & electronics, industrial, aerospace, and others. The automotive sector dominates the market.
• From a regional standpoint, the market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. Asia-Pacific is anticipated to dominate the market.

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Competitive Analysis of the Global Polyphenylene Sulfide Market

• Sk Chemicals
• Dic Corporation
• Lion Idemitsu Composites Co.Ltd
• Zhejiang Nhu Special Materials Co.Ltd
• Sabic
• Kureha Corporation
• Kureha Corporation
• Solvay SA
• Tosoh Corporation
• Fortran Industries Private Limited

Segmentation of the Global Polyphenylene Sulfide Market
By Type

• Linear PPS
• Cured PPS
• Branched PPS

By End-use Industry

• Automotive
• Electrical & Electronics
• Industrial
• Aerospace
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East & Africa

TABLE OF CONTENT

1. Introduction
   1. Market Definition
   2. Market Scope
2. Research Methodology
   1. Primary Research
   2. Research Methodology
   3. Assumptions & Exclusions
   4. Secondary Data Sources
3. Market Overview
   1. Report Segmentation & Scope
   2. Value Chain Analysis: Polyphenylene Sulfide Market
   3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
   5. Market Share Analysis
4. Type Overview
   1. Introduction
      1. Market Size & Forecast
   2. Linear PPS
      1. Market Size & Forecast
   3. Cured PPS
      1. Market Size & Forecast
5. End-Use Industry Overview
   1. Introduction
      1. Market Size & Forecast
   2. Automotive
      1. Market Size & Forecast
   3. Electrical & Electronics
      1. Market Size & Forecast
6. Regional Overview
   1. Introduction
      1. Market Size & Forecast
   2. America
      1. North America
      2. U.S.
         1. By Type
         2. By End-Use Industry
      3. Canada
         1. By Type
         2. By End-Use Industry
      4. Mexico
         1. By Type
         2. By End-Use Industry
      5. Latin America
         1. By Type
         2. By End-Use Industry
   3. Europe
      1. Market Size & Forecast
      2. Germany
         1. By Type
         2. By End-Use Industry
      3. France
         1. By Type
         2. By End-Use Industry
      4. U.K.
         1. By Type
         2. By End-Use Industry
      5. Italy
         1. By Type
         2. By End-Use Industry
      6. Spain
         1. By Type
         2. By End-Use Industry
      7. Rest of Europe
         1. By Type
         2. By End-Use Industry
   4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
         1. By Type
         2. By End-Use Industry
      3. China
         1. By Type
         2. By End-Use Industry
      4. Australia
         1. By Type
         2. By End-Use Industry
      5. India
         1. By Type
         2. By End-Use Industry
      6. South Korea
         1. By Type
         2. By End-Use Industry
      7. Rest of Asia-Pacific
         1. By Type
         2. By End-Use Industry
   5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
         1. By Type
         2. By End-Use Industry
      3. South Africa
         1. By Type
         2. By End-Use Industry
      4. Kuwait
         1. By Type
         2. By End-Use Industry
      5. Rest of Middle East & Africa
         1. By Type
         2. By End-Use Industry
7. Company Profile
   1. Sk Chemicals
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   2. Dic Corporation
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   3. Lion Idemitsu Composites Co Ltd
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
8. Conclusion & Recommendation
9. Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/polyphenylene-sulfide-market/toc 

Recent Developments in some of the Key Players

• In June 2022, to increase capacity and capabilities at the production facility of its SK Biotek subsidiary in Swords, Dublin, SK Pharmteco has previously announced a two-phase, $35 million investment.
• In April 2022, DIC Corporation decided to change its sales prices for its DIC.PPS polyphenylene sulfide (PPS) products. The retail price of products shipping after April 25, 2022, will be higher.
• In May 2022, Kureha Corporation announced that US-based startup Claros Technologies, Inc. (Claros) and its wholly-owned subsidiary Kureha America Inc. had inked a joint development agreement to create a PFAS capture and destruction technology platform.

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