NEWARK, Del, Feb. 26, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights, the global polyphenylene market size is expected to expand from US$ 4.2 billion in 2024 to US$ 10.5 billion by 2034 at a promising CAGR of 9.6%.
The demand for high-performance polymers that are also environmentally friendly is on the rise. Polyphenylene is gaining popularity due to its exceptional resilience to harsh conditions, making it an ideal choice for endurance and reliability applications. In the automotive industry, where fuel economy and pollution regulations drive the need for lightweight materials, polyphenylene's exceptional resistance to heat, chemicals, and mechanical stresses is highly sought after.
The development and integration of polyphenylene materials into vehicle design and production processes is facilitated by partnerships between automakers, material suppliers, and research institutes. The usage of engineering thermoplastics, such as polyphenylene, is growing due to environmental regulations and standards, as well as the materials' potential for sustainability and recycling.
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Polyphenylene's temperature resistance and insulating properties in the electrical and electronics sectors meet the demand for renewable energy sources, electric vehicles, and consumer electronics. Aerospace applications also benefit from polyphenylene's strength and low weight, supporting the growth of the global aircraft industry.
With continuous research and development efforts underway to enhance properties, reduce manufacturing costs, and explore new applications, the polyphenylene market is poised for growth in the coming decade, opening up novel commercial opportunities across industries globally.
“The need for high-performance, environmentally friendly polymers, especially polyphenylene, is growing because of its ability to withstand severe environments and its prospective uses in the automotive, electrical, electronics, and aerospace industries. The market for polyphenylene is anticipated to expand in the decade ahead due to continuous research and development initiatives, offering new business possibilities in various sectors.” - says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Polyphenylene Market
- The United States polyphenylene industry is projected to experience a CAGR of 9.9% through 2034.
- Japan’s polyphenylene market is expected to demonstrate a CAGR of 10.8% through 2034.
- The United Kingdom’s polyphenylene industry is anticipated to thrive at a CAGR of 10.7% through 2034.
- South Korean polyphenylene industry is anticipated to clock a significant CAGR of 11.2% through 2034.
- The Chinese polyphenylene market is expected to display a favorable CAGR of 10.5% through 2034.
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Competitive Landscape
The polyethylene market is fairly competitive. Over the coming decade, the polyphenylene industry is expected to be significantly influenced by companies investing in research and development, creating new polyphenylene grades with improved qualities and applications. Sustainability-focused organizations are anticipated to lead in eco-friendly materials using recycled resources and green production techniques.
Expanding the market presence in developing countries is likely to drive demand for polyphenylene and meet changing industry and consumer demands. Companies using advanced technology like compounding methods and additive manufacturing are anticipated to create new applications for polyphenylene. Market players are expected to promote cooperation and hasten polyphenylene use by establishing strategic alliances with vendors, clients, and academic institutions.
The Top Key Companies in the Polyphenylene Market
- Celanese Corporation
- Toray Industries
- Solvay SA
- Tosoh Corporation
- DIC Corporation
- Kureha Corporation
- Saudi Basic Industries Corporation (SABIC)
- Sumitomo Chemical Co., Ltd.
- Polyplastics Co., Ltd.
- LG Chem Ltd.
- China Lumena New Materials Corp.
Recent Developments in the Polyphenylene Industry
- In September 2023, Solvay received ISCC Plus accreditation for its polyphenylene sulfide production plants in Texas and Belgium to track circular or bio-based content in its value chain.
- In September 2023, Asahi Kasei, a Japanese technology company, demonstrated several material solutions at Fakuma for improved connectivity, lighter designs, a circular economy, and safer and more compact electric car batteries.
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Key Segments
By Type:
- Polyphenylene Sulfide
- Polyphenylene Oxide
- Polyphenylene Ether
By Application Type:
- Composites
- Filter Bag
- Engineering Plastics
- High-Performance Lubricants
- Others
By End-Use Industry Type:
- Automotive
- Industrial
- Electrical & Electronics
- Coatings
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Authored By
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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