Press release
Polyphenylene Sulfide Market Report Global Analysis, Growth Opportunity, Pricing Trends and Key Players Include SABIC, Tosoh Corporation, Solvay, SK Chemicals, Chevron Phillips Chemical Company
Polyphenylene Sulfide Market Size, Polyphenylene Sulfide Market Share, Polyphenylene Sulfide Market Growth, Polyphenylene Sulfide
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Top 15 Key Players:
Some of the major market players in the global polyphenylene sulfide market are
SABIC
Tosoh Corporation
TORAY INDUSTRIES, INC.
Chevron Phillips Chemical Company
Celanese Corporation
SK Chemicals
Solvay
KUREHA CORPORATION
Polyplastics Co., Ltd.
DIC CORPORATION
Haohua Honghe Chemical Co., Ltd.
Kotec Corporation
TEIJIN LIMITED
NHU Materials Co.
Aetna Plastics Corp.
Market Synopsis:
Polyphenylene sulfide (PPS) is an organic, semi-crystalline polymer containing aromatic rings attached to sulfide. 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. 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 surging demand for the product 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 drivers of the global polyphenylene sulfide 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 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.
The extensive use of filter bags in steel, chemical, and thermal plants is fuelling the global market of polyphenylene sulfide. Furthermore, the product provides sterilizable healthcare and laboratory equipment, which may effectively rise the market growth.
Segmental Analysis:
The global polyphenylene sulfide market is categorized on the basis of type, applications, and region.
On the basis of the type, the market is segmented into virgin and recycled categories. Though the recycled products are cheap, they have inferior properties, high impurities, and environmental risks. Because of these reasons, the demand for the virgin product will increase during the review period.
Based on the application segment, the global market is divided into automotive, electrical & electronics, industrial applications, filter bags, coatings, and others.
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Industry/ Innovation/ Related News:
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.
Regional Insights:
The global polyphenylene sulfide market is segmented into five major regions of Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
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.
The growth of the market is sluggish in Europe due to the stringent Government regulations for environmental safety despite the presence of coal and thermal plants 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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