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Global Polyphenylene Sulfide Market Research Report 2022 Professional Edition

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Polyphenylene Sulfide Market

Polyphenylene Sulfide MarketThe polyphenylene sulphide market globally it is expected to reach US$1.9 billion by 2028, with a CAGR of 8.9% from 2022 to 2028. Polyphenylene sulphide is an organic polymer with a wide range of features, including electrical insulation, corrosion resistance, and thermoplastic performance. It is widely utilised in the automobile sector to manufacture a variety of auto components and parts, including gaskets, pump parts, valves, bushings, and many more. The vehicle business is thriving, with strong production and sales, and this will fuel market expansion in the next years. According to the India Brand Equity Foundation, India was the fifth-largest automobile market in 2020, with 3.49 million units sold in the passenger and commercial vehicle segments combined.

Polyphenylene sulphide is also commonly utilised in toasters, air conditioners, microwaves, steam irons, and other appliances due to its outstanding dimensional stability and low density. The worldwide appliance business is expanding due to rising sales, which will propel the market forward over the forecast period. According to the India Brand Equity Foundation, the appliance and consumer electronics market is expected to double in size by 2025, reaching US$ 21.18 billion. The high cost of polyphenylene sulphide could limit market expansion during the forecast period.

Impact of COVID-19

The COVID-19 pandemic had a significant impact on the polyphenylene sulphide business, with issues such as supply chain disruptions and factory idling surfacing. To endure the intensity of the COVID-19 pandemic while maintaining a healthy corporate operation, market players employed different strategies. Even after changing work schedules, many organisations stated that the epidemic had a negative impact on their primary business. Kureha Corporation, for example, reported a loss in sales due to a decline in polyphenylene sulphide in its FY2019 Financial Reports (April 1, 2019 – March 31, 2020). With rising demand for PPS from key end-use sectors, the market grew steadily by the end of 2020. Because of the rising vehicle and appliance industries, the market is expected to see high demand in the future.

Coverage of the Report

The research “Polyphenylene Sulphide Market Forecast (2022-2028)” by ZMR provides an in-depth analysis of the Polyphenylene Sulphide Industry’s following segments.

By Type: Linear PPS, Cured PPS, Branched PPS, Others.

By Application: Automotive, Passenger Vehicle, Commercial Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Appliances, Electrical and Electronics, Healthcare, Hospitals, Long Term Care Facilities, Clinics and Diagnostic Centers, Industrial, Oil and Gas, Aerospace and Defense, Textile, Others.

By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa).

Important Points to Remember:

• The polyphenylene sulphide market is led by Linear PPS. This type of PPS has a higher molecular weight and a stronger impact strength than ordinary PPS, making it a good choice in the market.
• During the projection period, the automotive industry will fuel market expansion. According to the European Automobile Manufacturers Association’s July 2021 figures, passenger car registrations in Europe increased by 25.2 percent in the first quarter of 2021.
• Because of the region’s developing vehicle sector, Asia Pacific will have the biggest demand for polyphenylene sulphide during the projected period. According to Maruti Suzuki’s October 2021 figures, the compact and tiny sector sold 400568 units between April and September 2021-22, compared to 307,322 units in the same time in 2020-21. The increased use of polyphenylene sulphide in various car components and parts will result from the region’s strong automobile sales.

Market Trends for Polyphenylene Sulphide

Players in the polyphenylene sulphide market use a variety of strategies, including R&D, acquisitions, and product and technology releases. The following companies are major players in the polyphenylene sulphide market:

● Toray Industries
● Kureha Corporation
● Poly Fluoro Ltd
● Solvay S.A.
● Tosoh Corporation
● Chengdu Letian Plastics Co Ltd
● Albis Plastic GmbH
● SABIC
● Chevron Phillips Chemical PPS
● SK Chemicals

The market will grow due to the expanding appliance industry.

The organic polymer polyphenylene sulphide is used extensively in the appliance sector. This polymer is widely used in a variety of appliances, including fry pans, toasters, hair dryers, air conditioners, microwaves, and many others. The worldwide appliance sector is expanding, which will fuel market expansion over the forecast period. According to the China Household Electrical Appliances Association’s March 2021 data, China’s home appliance business rallied steadily in 2020, with export value reaching USD 83.7 billion, up 18 percent year on year.

The booming vehicle industry will aid market expansion

Automobiles are commonly related with polyphenylene sulphide. Due to its exceptional properties such as electrical insulation, corrosion resistance, and high performance thermoplastic property, it is employed in a variety of car components. The worldwide vehicle sector is thriving, with rising production and sales, and this will propel the market forward throughout the projection period.

The market’s expansion may be hampered by the high cost of polyphenylene sulphide

The high cost of polyphenylene sulphide has been a major barrier in the market, and it is expected to limit market expansion in the next years. Polyphenylene sulphide is a costly material that is only utilised when high heat resistance is required, limiting its broad use. Many market participants have emphasised the high cost of polyphenylene sulphide. The increased cost and brittle nature of PPS, for example, were addressed in a November 2019 blog by Poly Fluoro Ltd. In the foreseeable years, the high cost of PPS may limit the growth of the polyphenylene sulphide market.

Read more at : https://www.zionmarketresearch.com/news/polyphenylene-sulfide-market

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