Polyphenylene Sulfide Resins Market segmentation and Dominate Worldwide by 2027
With the growth of the electrical & electronics industry across the globe, the demand for materials involved in the manufacturing of electrical & electronics products is also increasing. Increasing demand for Polyphenylene Sulfide (PPS) resins for the manufacturing of switches, connectors, etc. is expected to drive the growth of global Polyphenylene Sulfide market. Along with this, increasing use of Polyphenylene Sulfide resins in the automotive industry is another factor driving the growth of the market. Moreover, rising demand for Polyphenylene Sulfide resins for industrial filtration & filter bags application is expected to boost the demand further. That aside, growing demand for high temperature flame resistant coatings is another factor responsible for growth of global PPS market. However, availability of substitutes such as PEI and PEEK as well as instability of raw materials prices may hamper the growth of the global Polyphenylene Sulfide resins market during the forecast period. Comparatively high cost of Polyphenylene Sulfide resins has significantly affected the growth of this market. Also, Polyphenylene Sulfide resins are relatively more difficult to process due to their higher melting points as well as the fillers required to get desired impact strength and this might weight heavily on the PPS market in the long run.
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The global Polyphenylene Sulfide resins market is segmented on the basis of application into
Electrical & Electronics
Industrial filtration & filter bags
The global Polyphenylene Sulfide resins market is segmented on the basis of product type into
Among these applications, filtration & filter bags segment accounted for a significant share in the global market and is expected to witness steady growth during the forecast period.
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Global Polyphenylene Sulfide resins market is mainly dominated by the APAC region. Growing interest of foreign investors in developing countries such as China, and India is one the major factors responsible for considerable penetration of PPS in APAC market. Growing automotive industry coupled with increasing demand for electrical & electronics products in APAC region is likely to result in a significant increase in demand for PPS over the forecast period. North America is the second largest market for Polyphenylene Sulfide resins in terms of consumption. Given the high demand for industrial filters and filter bags in North America, the demand for PPS is expected to increase steadily over the forecast period. Middle East & Africa and Latin America are expected to register steady growth over the forecast period.
Examples of some of the market participants in the global Polyphenylene Sulfide resins market identified across the value chain include Celanese Corporation, SK Chemicals, Toray Industries, Lumena, Solvay Specialty Polymers USA, LLC, DIC Corporation, Tosoh Corporation, Zhejiang NHU Special Materials Co Ltd, Kureha Corporation, Lion Idemitsu Composites Co. Ltd, and SABIC.
Key players in the market are using PPS to bring about technological advancements and develop cost-effective, eco-friendly and low VOC products along with increased production capability. These efforts are expected to open new opportunities for the growth of the PPS market during the forecast period.
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