According to a new report published by Reports Monitor titled, “THE GLOBAL POLYPHENYLENE SULFIDE MARKET, GROWTH OPPORTUNITIES AND FORECAST TIL 2025” the global POLYPNENYLENE SULFIDE market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025
Polyphenylene sulfide (PPS) is a flexible material that gives molded components the ability to meet exceptionally demanding criteria. This thermoplastic using PPS has outstanding thermal stability, superior toughness, inherent flame resistance, and excellent chemical resistance. It also has high mechanical strength, impact resistance, dimensional stability as well as good electrical properties. Owing to its high temperature resistance, high toughness, good dimensional stability and good rigidity PPS is used in automotive & aviation sector and electric & electronics sector.
PPS has seen strong growth in automobile sector due to its ability to replace metals and other types of plastic. Apart from these, PPS has applications in medical/healthcare and industrial sector. The increasing demand for tough and ecofriendly material is the major driving force of the market. PPS has become more popular than conventional plastics. The rising demand for PPS in the automotive and electrical industry is expected to propel the market growth during the forecast period. The increased fuel efficiency and weight reduction potential by the use of PPS in automotive are one of the major factors that boosts the growth of the market. Additionally, increasing consumption of the product in electrical and electronic appliances such as non-stick cookware, fans & blowers, and hairdryer components are likely to push 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. Furthermore, the product provides sterilizable healthcare and laboratory equipment.
However, the easy availability alternatives such as polyamide and high cost of polyphenylene sulfide are major restraints to the growth of market.
Nevertheless, the growing demand of PPS in various sector especially automotive is pushing forward the market. A normal gasoline automotive requires nearly 1 kg of PPS, whereas hybrid and electric automotive require nearly 5 kgs of PPS, which is used as a metal replacement. Moreover, with increasing regulations to control particulate matter, the use of PPS filter bags market has huge growth potential.
The PPS market is segmented on the basis of application, type and region.
On the basis of type it is segmented into reinforced and unreinforced.
Based on application the market is segmented into automotive, electrical/electronics, aviation, healthcare and others.
The global PPS market is segmented into four major regions, North America, Europe, Asia-pacific and Latin America, Middle east & Africa.
Asia pacific region holds the largest share of market in terms of volume. Countries like China, Japan and India are biggest market of automobiles. Also, many automobile manufacturing companies are in the region. Additionally, there has been rise in demand for eco-friendly materials in countries like India And Pakistan. Recently, the Chinese government has made strict laws to control particulate matter which has pushed forward the demand of PPS filter bags.
North America holds the second largest market owing to mature automotive sector. Also, the aerospace market of the region is huge. The presence of major aviation players such as GE aviation, Boeing are major driver of the market.
The growth of the market is slow in Europe region is as the government regulations for pollution control is stringent. But the region has big market owing to the presence of large number of automobile manufacturing companies.
LAMEA region has the least share of market. But the region is expected to have swift growth in near future especially Latin America, as the countries are expected to join hands with leading regions. Also, the market for PPS filter bags is growing in Middle east.
Tosoh Corporation (Japan), TORAY INDUSTRIES, INC. (Japan), Celanese Corporation (U.S), SK Chemicals (South Korea), DIC CORPORATION (Japan), Chevron Phillips Chemical Company (U.S), Haohua Honghe Chemical Co., Ltd. (China), Kotec Corporation (Japan), KUREHA CORPORATION (Japan), Polyplastics Co., Ltd. (Japan)NHU Materials Co. (China), SABIC (Saudi Arabia), are the major players of the global market.
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