Growing demand for Polyphenylene Sulfide (PPS) for the production of electronic goods, spacecraft, aircraft, drones, & cars is expected to drive the demand for the global Polyphenylene Sulfides (PPS) market in the forecast period, 2024-2028. According to TechSci Research report, “Global Polyphenylene Sulfide (PPS) Market- By Region, Competition Forecast and Opportunities, 2018-2028”, the Global Polyphenylene Sulfide market is projected to grow at an impressive rate in the forecast period 2024-2028.
The Important Factors of the Polyphenylene Sulfide Market
Increasing demand from the aerospace and automotive industries is the primary reason driving the market’s growth of Polyphenylene Sulfide (PPS). Due to high heat-deflection temperature, superior dimensional stability, exceptional chemical resistance, and intrinsic flame retardancy, it is demonstrated as an outstanding substitute for metal and thermostats in various applications demanded by end-users worldwide.
Supply chain disturbance and fluctuating prices of raw materials are primary obstruct to the market growth of the polyphenylene sulfide (PPS) market. China is a significant consumer of polyphenylene sulfide worldwide due to the region’s high number of manufacturing activities. Hence, the trade sanctions on China are expected to impact product availability and lead to price fluctuation that hinders market growth. According to the report, Asia is the major consumer of polyphenylene sulfide (PPS), which is almost 75% of total production. Here, China and Japan alone consume 60% of the polyphenylene sulfide. Therefore, regional conflict over controlling ocean trade is expected to disturb the supply chain. All these led to a shortage of raw materials and impended market growth.
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The global polyphenylene sulfide (PPS) market is segmented based on product type, recyclability, application, region, and company
Based on recyclability, the market is divided into virgin and recycled. The recycled polyphenylene sulfide (PPS) segment will hold the largest market share till 2028. Recycled polyphenylene Sulfide (PPS) has all the characteristics (after mixing, adhesives are required) compared to virgin PPS. Thus, the availability of the same product at a lower price helps firms to increase profitability. All these factors led to rising demand from end users and made recycled polyphenylene sulfides (PPS) dominate the market segment.
Based on application, the market is divided into automotive, electrical and electronics, industrial, aerospace, and others. The automotive segment will hold the largest market share till 2028. Rising demand for high-performing materials in numerous applications in automotive engines like electrical components, chassis, powertrain, and trim components are driving the need for PPS in the market. In addition, growing applications such as rear windshield glazing, instrument panels, headlight lens, door panels, wheel covers, center consoles, roof modules, interior trims, door handles, and bumpers are propelling the PPS demand. Due to stringent government regulations for producing eco-friendly, fuel-efficient, and low noise-making vehicles, PPS is considered one of the best substitutes for metal that helps automobile industries achieve it and makes automotive end users dominate the segment.
Major companies operating in the global polyphenylene sulfide (PPS) market are:
- Albis Plastics Corporation
- Zhejiang NHU Company Ltd
- Solvay SA
- Toray Industries, Inc
- DIC Corp.
- Polyplastics Co. Ltd
- Ticona LLC
- Chengdu Letian Plastics Co, Ltd
- Avient Corp
- Lion Idemitsu Composites Co., Ltd.
Various companies operating in the market are following strategies such as mergers & acquisitions, product launches, collaborations & partnerships, among others in order to stay competitive and have an edge over other players operating in the market. For instance, In July 2021, Polyplastics Co., Ltd., which supplies engineering thermoplastics globally, developed the usage of polyphenylene sulfides (PPS) in laser-welded applications with enhanced capabilities. It will help Polyplastics Co., Ltd. to provide superior transmittance & toughness and enables the use of laser welding in a wide range of applications.
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“Asia-Pacific region is expected to dominate the global polyphenylene sulfide (PPS) market in the anticipated years due to growing demand from electronic, automobile, and aerospace markets to fulfill the population needs and availability of low wages workers. China operates major manufacturing activities compared to worldwide and makes the region dominate the global polyphenylene sulfide (PPS) market. Globally, increasing demand for polyphenylene sulfide (PPS) by the different end users for production for other applications like filter fabric for coal boilers, papermaking felts, electrical insulation, film capacitors, specialty membranes, gaskets, and packings. Various government initiatives to lower the carbon emission and R&D activities are creating favorable conditions to drive the global polyphenylene sulfide (PPS) market growth till 2028.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Polyphenylene Sulfide (PPS) Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product Type (Linear PPS, Cured PPS, Branched PPS), By Recyclability (Virgin, Recycled), By Application (Automotive, Electrical and Electronics, Industrial, Aerospace, and Others), By Company, By Region and Competition, has evaluated the future growth potential of global polyphenylene sulfide (PPS) market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global polyphenylene sulfide (PPS) market.”
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