Polyphenylene Sulfide (PPS) Market to be Dominated by Linear PPS Segment Through 2028
Growing demand for Polyphenylene
Sulfide (PPS) for the production of electronic goods, spacecraft, aircraft,
drones, & car is expected to drive the demand for the global Polyphenylene
Sulfide (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”, Global Polyphenylene
Sulfide (PPS) market is projected to grow at an impressive rate in the forecast
period 2024-2028. 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 the
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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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
sulfide (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 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 sulfide (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 need 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 take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global polyphenylene sulfide (PPS) market.”
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