Polyphenylene Sulfide (PPS) Market Rising With Growth In New Technology Trends Research By 2025


The global polyphenylene sulfide market size is expected to reach USD 2.14 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to witness a CAGR of 8.8% during the forecast period. Several characteristics including high creep resistance, stiffness and strength, excellent temperature properties, and good chemical resistance are the key factors driving the PPS market growth.
Rising demand for the product as a result of its high resistance to corrosion, temperature, chemical, wear, and radiation will fuel its demand. The market is identified by activities, such as capacity expansions, acquisitions and mergers, and product and technological innovations attempted by the key manufacturers, such as Toray Industries, SK Chemicals, Solvay, Kureha Corporation, DIC, and Polyplastics Co., Ltd.
The consumption of in automotive industries is projected to exhibit a significant growth owing to rising application in carburetor parts, exhaust gas return valves, flow control valves intended for heating systems, and ignition plates. PPS is also utilized in industrial applications including grills, hair dryer parts, cooking appliances, as well as serializable laboratory, dental, and medical equipment. This factor is anticipated to spur the product demand over the next few years.
Asia Pacific is anticipated to showcase substantial growth in light of rising living standard and increasing industrialization especially in China and India. Moreover, rising automotive, oil and gas, paints and coatings, and medical sectors will fuel expansion of the PPS market over the next seven years.
Growing demand for electrical and electronics components, including brush holders, motor housing, coil formers, connectors, terminal blocks, and thermostats and switch components in emerging economies including India, China, Malaysia, and Indonesia owing to rising disposable income of consumers is expected to propel polyphenylene sulfide market growth.
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Rising consumption in coating applications owing to the high heat resistance, chemical resistance, and excellent electrical properties of polyphenylene sulfide will augment the demand. Also, high consumption in non-stick cookware, food processing, and chemical processing equipment will stimulate product penetration over the next few years.
Further key findings from the report suggest:
·         In terms of revenue, electronics and electrical application is projected to ascend at a CAGR of 8.8% over the forecast years
·         Automotive application led the global PPS market with a volume share of over 31.8% in 2018
·         Industrial, constituting a revenue share of 24.5% in 2018, is projected to exhibit a high growth in the next few years
·         Asia Pacific led the global Polyphenylene Sulfide (PPS) market in 2018 with 62.1% volume share. This trend is projected to continue over the next few years
·         Growing aviation industry on account of increasing government investments in aerospace mainly in India, South Korea, Singapore, and Malaysia is further expected to propel the demand from aerospace market
·         The market is highly competitive in nature. The main players include DIC, Toray Industries, Tosoh Corporation, SK Chemicals, Daicel Corporation, SABIC, Teijin Ltd. and RTP Company
·         Various manufacturers are concentrating on new product launches, capacity expansions, and technological innovations to estimate existing and future demand patterns from upcoming application segments.
The global Polyphenylene Sulfide (PPS) market size was estimated at USD 1.19 billion in 2018. It is anticipated to expand at a CAGR of 8.8% during the forecast period. Polyphenylene sulfide is a crystalline polymer, whose high chemical resistance and temperature performance among other properties are projected to fuel the demand over the next few years.
Utilization for manufacturing various electronic components such as coil formers, connectors, circuit breakers, micro switches, HDD actuators, bobbins, relay components, terminal blocks, brush holders, thermostat parts, motor housings, as well as switch components is projected to augment the demand for PPS.
Automotive and electronics and electrical were the prominent application segments in 2018. PPS has vast scope of application scope within the automotive industry resulting in the increased demand from automotive manufacturing countries such as India, China, and Japan. The segment is also likely to exhibit the fastest CAGR owing to growing need for light weight and higher stability in automobiles.
Polyphenylene sulfide finds application in aerospace and defense. PPS composites have been used for making rudders and elevation in the Gulfstream G650 business jet in the past. They are projected to find greater use in airplane manufacturing with the increasing use of composites for manufacturing airplanes such as the Airbus A380 and Boeing 787 Dreamliner, which use up to 50% of composites in the primary structure including fuselage and wing.
PPS market size is anticipated to witness significant growth over the next eight years owing to increasing demand from various sectors including automotive, electronics, industrial, and aerospace. Rising consumption of the compound in high-temperature applications owing to superior performance and mechanical characteristics is projected to drive the market over the next few years.
Increasing use in various automotive parts such as engine components, switches, transmission components, pistons, and coolant systems will fuel industry growth. Increasing automotive manufacturing especially in China, Indonesia, Mexico, U.S., Germany, South Korea, Japan, Taiwan, and Malaysia will promote market expansion in the upcoming years.
Browse Press Release of this report:                                
https://www.grandviewresearch.com/press-release/Global-Polyphenylene-Sulfide-(PPS)-Industry
Grand View Research has segmented the global Polyphenylene Sulfide market on the basis of application:
Polyphenylene Sulfide (PPS) Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
·         Automotive
·         Electrical & Electronics
·         Industrial
·         Coatings
·         Others
Polyphenylene sulfide is 100% recyclable, increases fuel economy, and reduces emission levels. All these factors are likely to driver the product demand from different end-use industries. High preference for PPS over to metals owing to weight reduction is likely to further propel the demand. However, the presence of substitutes including PEEK and PEI along with fluctuating raw material costs is projected to challenge growth over the next eight years.
The use of PPS in automobile parts and as filter bags in coal-fired power plants is anticipated to witness growth in near future. Automotive industry is likely to witness robust growth in countries such as India, China, and Brazil. The need for lower emissions and higher fuel economy has resulted in increased focus on reducing the weight of automobiles. Companies are looking for polymer replacements to metal parts, which is projected to augment the consumption of PPS over the next few years.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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