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Sulfone Polymers Market by Industry Analysis, Growth, Trends, and Forecast, 2019-2024

01-16-2020 05:56 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Global Market Insights

Sulfone Polymers Market

Sulfone Polymers Market

In its latest report on 'Sulfone Polymers Market', introduced Global Market Insights, LLC, provides a concise analysis on the recent market trends. The report further includes statistics, market forecasts and revenue estimations, that in addition highlights its status in the competitive domain as well as expansion trends adopted by major industry players.

Sulfone polymers market has taken a hit in the food and medical industry, as these products are derived from a combination of Bisphenol A (BPA) and disphenol. Scientific studies have shown that consumption of BPA has been deemed harmful to human lives and the environment. Therefore, some countries around the world have banned the use of polycarbonates in baby bottles. However, the FDA, CDC and WHO have all confirmed that low levels of BPA contamination is inconsequential to the human body, which may contribute toward eliminating some of the restraints in sulfone polymers market. The concern about BPA may affect consumer opinion about the presence of sulfone polymers in food containers and can liners. However, sulfone polymers market as an entity will remain unaffected and will continue to grow despite government regulations, as chemically stable and light weight engineering plastics obtained from sulfone polymers have been used to great advantage in the aerospace, medical, biotechnical and automotive industries.

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The aerospace and automotive sectors, in recent times, have been moving away from using metals and leaning towards using engineering plastics to reduce weight and increase the fuel efficiency of aircrafts and vehicles. Sulfone polymers are widely used in these industries to manufacture vehicle and aircraft components that are highly creep resistant, register low mold shrinkage and remain stable at high temperatures. Automotive industry has a considerably huge share in the sulfone polymers market registering a CAGR close to 6% over 2017-2024.

The application of sulfone polymers in aerospace industry has also been on a rise, as the demand for light but highly heat resistant material used to manufacture aircraft radomes, connectors and terminal blocks has been increasing lately. In consequence, this would have a commendable impact on sulfone polymers market share from the aerospace sector.

The field of medicine has been revolutionized by the use of engineering plastics, making patients’ lives safer and bringing about a dynamic change in the development of innovative medical devices, which in the years ahead, will commendably influence sulfone polymers industry share. In terms of volume, the medical field has made rather appreciable contributions toward the growth of sulfone polymers market, as plastics made of sulfone polymer have helped reduce medical costs, simplified pain management and prevented infections.

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Asia Pacific has been projected to witness the fastest growth in sulfone polymers market over the forthcoming seven years, driven by the growing automotive and aerospace industries in the emerging economies of China and India. The multibillion-dollar sulfone polymers market firm, Solvay has recently invested heavily in India to expand its plant capacity at Panoli. Solvay alone has projected the increase of its global sulfone polymer production by 35% in the next 5 years, with significant investments in Asia and USA. Speaking of which, North America accounts for a major share in the production of leading medical instruments and automobiles. Driven by the demand for high performance engineering plastic in these industries, North America sulfone polymers market will witness a CAGR of 6.2% over 2017-2024.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
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Email: sales@gminsights.com

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