Press release
Polyphenylene Sulfide (PPS) Resins Market Projected to Augment at a Notable CAGR during the Forecast Period until 2027 | Key Players - Fortron Industries LLC, Zhejiang NHU Special Materials Co. Ltd., Chengdu Letian Plastics Co. Ltd
Exponentially rising demand in the automotive industry
Major production capacity expansion projects by prominent players
Introduction of new grades of polyphenylene sulfide (PPS) resins
Indispensable role of polyphenylene sulfide (PPS) in multiple demanding applications
Engineering thermoplastic polymers have acquired a special position across industries owing to their unique functionalities that accommodate current demand for recyclability and sustainability. Polyphenylene sulfide (PPS) fits well in this demand wherein the polymer has replaced metal and other thermosets considerably in multiple applications.
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Despite competition from many thermoplastic polyesters and high-performance thermoplastics, the exceptional chemical and heat resistance of polyphenylene sulfide (PPS) differentiates the polymer.
Polyphenylene sulfide (PPS) resins demand has skyrocketed in past decades, majorly due to buoyancy in the automotive industry post the great recession of 2008. Fact.MR study estimates that the automotive industry registered nearly 49% of the global polyphenylene sulfide (PPS) resin consumption in 2018. The industry will continue to present significant demand for polyphenylene sulfide (PPS) resin in the future.
In particular, polyphenylene sulfide (PPS) resins will be highly sought-after in electric and hybrid vehicles. For their higher thermal resistance, PPS resins are being incorporated in electric auto parts that run at high temperatures such as lithium-ion batteries, electric motor wires, insulation films and other electric parts.
Well aware of the projected demand rise for polyphenylene sulfide (PPS) resins in the future, prominent manufacturers of PPS resins are actively engaged in expansion of production capacities and introduction of new PPS grade materials.
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Industrial Application of PPS Resins to Grow at 6.8% in 2019
Fact.MR shows that consumption of polyphenylene sulfide (PPS) resins in industrial applications is projected to rise rapidly. PPS resins have, to a greater extent, replaced metal alloys, multiple thermoplastics and thermosets in mechanical engineering applications. Introduction of new grades of polyphenylene sulfide (PPS) resins for specific industrial applications is likely to boost the demand for PPS resin in the coming years.
The study finds that demand for PPS resins is second largest in the electrical and electronics industry. Owing to their good electrical properties, PPS resins find increasing application in electronic components such as connectors, coils, relay components, sockets of moulded bulbs, switch components, thermostat parts and sensors.
Greater China Consumed 40% of the Global Polyphenylene Sulfide (PPS) Resins in 2018
According to the study, APEJ accounted for nearly 45% of the global polyphenylene sulfide (PPS) resins in 2018. Major consumption remains consolidated in Greater China which accounted for about 40% of the global PPS resin demand in 2018.
China with its largest coal fleet as well as largest number of heavy capacity coal plants present significant demand for PPS filter bags, thereby accounting for a considerable demand for PPS resins. As one of the leading CO2 emitter and coal consumer, China is likely to take efforts in mitigating climate issues in the future, thereby presenting lucrative opportunities for polyphenylene sulfide (PPS) resins in the future.
Japan, while hosting few of the largest producers of polyphenylene sulfide (PPS) resins, continues to be one of the leading producers globally. The country presents significant consumption as well as exports of PPS resins to global countries. In addition, Japanese manufacturers are actively engaged in regional expansion strategies to establish a strong foothold in potential markets.
Fact.MR report tracks the polyphenylene sulfide (PPS) resins market for the period 2019-2027. According to the report, the polyphenylene sulfide (PPS) resins market is projected to grow at 6.1% CAGR through 2027.
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