Polyphenylene Sulfide Market: An Array of Graphics and Analysis of Major Industry Segments
Market Synopsis:
Polyphenylene sulfide (PPS) is an organic polymer consisting of aromatic rings linked with sulfides. The distinguished properties of PPS such as flame retardant, chemical resistant, corrosion resistant, dimensional stability, and low moisture absorption are responsible for substitution of heavy metals, mainly required in major end-use industries such as automotive and aerospace.
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.
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. 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.
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Leading Players:
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)
Industry Updates:
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.
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Regional Analysis:
The global polyphenylene sulfide market is segmented into five key regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. The Asia Pacific is projected to witness a significant growth in the polyphenylene sulfide market in terms of value during the review period. The presence of major automobile manufacturing industries in countries such as China, India, and Japan is favoring the market growth in this region. Thailand and South Korea are other contributing economies owing to the high production of automobiles in this terrain.
North America holds a major share of the global market on account of the developed automotive sector and advancing aerospace sector. Major aerospace manufacturers such as Boeing, GE Aviation, and others are located in the U.S., which is driving the market growth positively. In 2015, Canada’s aerospace manufacturing industry was ranked 5th in terms of GDP. Canadian aerospace has been stable for past few years in terms of value, revenue, and GDP and is likely to propel the market growth due to the technological developments and innovations in Aerospace Industries Association of Canada (AIAC).
Europe is expected to exhibit sluggish growth owing to the stringent rules and regulations for environmental safety due to the rising habitat hazards despite the presence of large numbers of cola and thermal plants in this region. However, the aerospace industries in countries such as Germany and France pace the market growth.
Lastly, Latin America is projected to show a substantial market growth during the forecast period. The high production of automobiles in countries such as Mexico is the key driver fuelling the market growth in this region.
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