Increasing Demand Coupled with Versatility over other Plastic will Upsurge the growth of the Global Polyarylsulfone Market
According to a new report published by Reports Monitor titled, “Polyarylsulfone Market by Type, Property & Applications: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Polyarylsulfone Market was valued at XX million in 2016 and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. North America dominates the market, as it is the major consumer of polyarylsulfone.
Polyarylsulfone provides the exclusive combination of thermoplasticity and retention of structurally useful properties at 500 degrees Celsius. This material is supplied in both pellet as well as in powder form. It mainly consists of phenyl and biphenyl groups linked by thermally stable ether and sulfone groups.
The component driving the market includes Polysulfone and polyphenylsulfone are largely used in fitting and military applications. The market is witnessing substantial growth due to growing demand from electrical & electronics, medical devices, aerospace, automotive, and others. Moreover, increasing investments are made in the research and development of numerous application sectors is responsible for boosting the growth of market. Additionally, polyarylsulfone is more versatile as compared to other engineering plastics thus creating the growth opportunities for the market to grow. However, inactive economic growth is some of the regions across the globe is hindering the growth of market. Moreover, the market has to face diverse challenges such as difficulty in processing polyarylsulfones and impact of recession on the market.
Based on the segmentation, the market is categorized into type, end-user, and region. According to the type, the market is segmented into polysulfone, polyethersulfone and polyphenylsulfone. Depending upon the end-user, the market is segmented into medical, automotive, household/food technology, electrical & electronics, mechanical engineering and others.
The major companies in the report include: Nytef Plastics Ltd., Solvay, Sumitomo Corporation, BASF, SABIC, Ensinger Inc., Quadrant Engineering Plastics Product Inc., RTP Co., Polymer Dynamix, and Technical Polymer LLC.
For instance, in April 2018, Germany’s BASF has started up a new production line for its high-temperature resistant polyarylsulfone thermoplastic Ultrason at its location in Yeosu, Korea.
Key Question Answered: •What will be the market size in 2025 and at what rate it will grow? •Who are the major key players in global polyarylsulfone market and what are their strategies? •Which vertical industry is expected to show major growth? •What segment and region will lead the market and why?
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