Polyphenylene Sulfide Market 2018-2023: Overview by Types, Application, Regional Outlook, Key Players and Forecast To 2023
Polyphenylene sulfide (PPS) is an organic polymer consisting of aromatic rings linked with sulfides. Increasing consumption of the product in electrical and electronic appliances such as non-stick cookware, fans & blowers, and hairdryer components are likely to favor the market growth. It is an entirely recyclable, environment-friendly compound and a fine alternative to other polymers such as epoxy, ABS, PTFE, PEI, PVDF, and others
As per the analysis of MRFR, increasing demand from end-use industries such as automotive, electrical & electronics, and industrial manufacturing is set to bolster market growth over the forecast period. It is extensively utilized in the automotive application including exhaust gas return valves, carburetor parts, flow control valves, and ignition plates among others. Superior properties exhibited by the products such as excellent creep resistance, enhanced temperature properties, high stiffness and strength, and good chemical resistance are driving polyphenylene consumption across various applications. It is also 100% recyclable, eco-friendly and a viable solution to carbon emissions.
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Strict environment norms aimed at reducing carbon footprints in developed economies of North America and Europe is further set to bolster market growth. Strong growth of aerospace industry in the U.S. is slated to uplift PPS market growth. It is widely utilized in applications such as ducting, ribs, panels, seat frames, fasteners, and brackets. Additionally, rising consumption in coating industry is anticipated to remain a key factor for market growth over the forecast period.
- Tosoh Corporation (Japan),
- TORAY INDUSTRIES, INC. (Japan),
- Celanese Corporation (U.S),
- SK Chemicals (South Korea),
- Solvay (Belgium),
- KUREHA CORPORATION (Japan),
- Polyplastics Co., Ltd. (Japan),
- DIC CORPORATION (Japan),
- Chevron Phillips Chemical Company (U.S),
- Haohua Honghe Chemical Co., Ltd. (China),
- Kotec Corporation (Japan),
- TEIJIN LIMITED (Japan),
- NHU Materials Co. (China),
- SABIC (Saudi Arabia),
- Aetna Plastics Corp. (U.S)
The global polyphenylene sulfide market is segmented on the basis of type, applications, and region.
Commercially, the PPS is manufactured in two types: virgin and recycled. The virgin type PPS is costly and contains lesser impurities and environmental risks as compared to the recycled type.
On the basis of the application, the market is segmented into automotive, electrical & electronics, filter bags, industrial applications, aerospace, coatings, and others.
Key companies operating in the overall market are focusing towards product innovation and R&D in order to cope with specific application requirements. Major manufacturers have exoanded their production capacities to cater the burgeoning demand in Asia Pacific and Latin America. Companies such as Celanese Corporation and Toray Industries are some of the prominent industry participants focusing on strengthen their distribution network.
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August, 2017- Toray Industries, Inc. announced the setup of PPS compound production plant in Hungary under the site of Zoltek Companies, Inc. which will hold yearly production output of 3,000 tons. The initiative is expected to strengthen the company’s distribution network in Europe.
September, 2015- Celanese Corporation (NYSE: CE), announced the introduction of Celanese Polyphenylene Sulfide (PPS) in Japan to meet the evolving customer requirements in automotive industry and cater to the rising demand from electrical & electronics industry.
The Asia Pacific is the fastest growing region in terms of value on account of the presence of a large number of automotive, and electrical and electronics industries. Countries such as China and India are the major contributors to the regional market growth due to the increasing demand for advanced and efficient automotive. The presence of renowned automotive manufacturers such as Honda, Nissan, and Toyota in Japan has fuelled the market growth in this region. High production of automobiles in countries such as Thailand and South Korea is further anticipated to favor the market growth in coming years.
North America is another substantial contributor to the global market growth owing to the mature automotive sector and growing aerospace sector. Increasing demand for the product from the established aircraft manufacturers such as Boeing, GE Aviation, Northrop Grumman in the U.S is the major driver of the market in this region.
Latin America is expected to join hands with the leading region's growth in the coming future due to the growing automotive industries, especially in Mexico.
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