Polyphenylene Sulfide (PPS) Market is Expanding Rapidly with Promising Growth Prospects

A recent report published by Allied Market Research titled "Polyphenylene Sulfide (PPS) Market by Application - Global Opportunity Analysis and Industry Forecast, 2014 - 2022" reveals that the PPS market attained a value of $982 million in 2015 and is projected to reach $1,856 million by 2022, with a robust CAGR of 9.6% from 2016 to 2022. The automotive application is anticipated to remain the dominant segment until 2022, with Asia-Pacific leading the global PPS market in 2015 and expected to maintain its dominance throughout the forecast period.

Key Drivers:

The global PPS market is primarily driven by the increasing adoption of PPS due to its exceptional properties such as chemical and corrosion resistance, ease of moldability, scratch resistance, and its ability to substitute metals and other polymers. Moreover, the rising demand for automobiles, advanced electrical & electronic products, and supportive environmental regulations are expected to further propel market growth. Additionally, initiatives like Digital India Program and China's substantial investment in its domestic semiconductor industry are likely to positively impact market growth.

Summary of the Polyphenylene Sulfide Market Report can be accessed on the website at https://www.alliedmarketresearch.com/polyphenylene-sulfide-market

Market Dynamics:

The automotive sector is expected to remain the leading application of PPS, closely followed by electrical & electronics by 2022. Advancements in these industries are projected to drive continuous growth in the global PPS market. Furthermore, PPS's lightweight nature, eco-friendliness, and low volatile organic compound (VOC) emissions are expected to further boost market growth.

Insights from Eswara Prasad:

Eswara Prasad, Team Lead, Chemical Research at Allied Market Research, notes, "PPS is gaining popularity in interior aerospace sections such as high-temperature ducting, seat frames, and interior panels as it provides flammability, smoke, and toxicity performance at low cost."

Key Findings:

PPS in the automotive application segment dominated in 2015 and is expected to grow at a CAGR of 10.1% in terms of value.
China leads PPS consumption in the Asia-Pacific region, followed by India.
The electrical & electronics application is anticipated to witness the highest CAGR of 10.5% in terms of value.
The U.S. is the leading market for PPS, growing at a CAGR of 8.7% in terms of value.
Regional Analysis:

Asia-Pacific held the largest share in the global polyphenylene sulfide market in 2015 and is expected to maintain this position due to increased PPS consumption in the automotive and electrical & electronics industries.

Key Players:

Prominent players in the PPS market include Solvay, Toray, Celanese Corporation, Tosoh Corporation, DIC Corporation, Kureha Corporation, SK Chemicals, Chengdu Letian Plastics Co Ltd., SABIC, and ALBIS. These players are profiled in the report, highlighting their market performance, product portfolio, and strategic initiatives.

Summary of Similar Reports can be viewed at

https://www.alliedmarketresearch.com/materials-&-chemicals/advanced-materials-market-report

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