Polyphenylene Sulfide (PPS) Market Overview:
The worldwide Polyphenylene Sulfide market revenue was predicted at 705.8 million US dollars in year 2013. Rising demand for HPTP like PPS from aerospace and defense sections is predicted to enhance the growth & expansion of Polyphenylene Sulfide during the estimated time span. Growing need for automobile applications combined with optimistic outlook in production is predicted to stimulate the growth and expansion of Polyphenylene Sulfide market during the estimated period. The advantages of the Polyphenylene Sulfide include fuel resistance, anti freeze, transmission, brake fluids and hotness. Further, the Polyphenylene Sulfide mix also offers reduction in weight and rising stability in comparison to a complete metal framework, thus enhancing performance and fuel efficacy in vehicles.
Growing stress on power safety has led to large amount of power plant set ups over the last few years. Further, this trend is anticipated to continue due to growing population and enhanced infrastructure specifically in developing regions. As a result of this, demand for Polyphenylene Sulfide is predicted to have a favorable effect on the growth & expansion of the Polyphenylene Sulfide market owing to the utilization of filter bags & filter in dust chamber filters and coal boilers.
Growing demand for the Polyphenylene Sulfide compound in high temperature applications due to best performance and exceptional mechanical features is a main aspect driving the growth of the Polyphenylene Sulfide market. But the presence of many alternatives with identical features is likely to constraint the demand for Polyphenylene Sulfide during the estimated time span. Further, high costs of chemicals as compared to its alternatives are a key restricting aspect contributing towards growth and development of worldwide Polyphenylene Sulfide market.
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Polyphenylene Sulfide (PPS) Market By Application:
Applications of filter bags & filter led the worldwide Polyphenylene Sulfide market contributing for more than twenty five percentage of market share in year 2013. Filter bags are mainly used in thermal plants, coal fired energy plants and incinerators. Fast industrial development in regions of Asia Pacific is predicted to stimulate the demand for Polyphenylene Sulfide in those areas. Polyphenylene Sulfide competes with other HPTP comprising of polyamides and PEEK in this application section. Supportive rules and regulations in order to maintain the ecological cleanliness in developed areas which includes Europe is predicted to have a favorable effect on the demand for Polyphenylene Sulfide compound.
Automobiles market contributed significantly to the total revenue share of the Polyphenylene Sulfide market due to rise in demand for manufactured parts like engine parts, fuel system components, brake systems, power trains and electrical parts, lighting parts and components of transmission. In terms of revenue, the Polyphenylene Sulfide market sector is predicted to grow at a CAGR rate of 13.0% from year 2014 to year 2022.
Growing demand for the Polyphenylene Sulfide chemicals in automobile applications is due to its exceptional properties such as its resistance to temperature. The growth and demand of the Polyphenylene Sulfide market is predicted to rise in coming years. Further, different luxury car brands like Mercedes Benz have been using this compound in producing engine parts for weight reduction and enhancing the stability of the components.
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Polyphenylene Sulfide (PPS) Market By Region:
The region of Asia Pacific led the universal Polyphenylene Sulfide market in year 2013. It contributed of about seventy five percent of the total market share during that period. Rise in number of energy plant establishments to fulfill the growing energy needs of the people and the industries in this region will drive the growth & demand of the Polyphenylene Sulfide market in this region. Further, enhanced infrastructural development & growth in the regions like Indonesia and India is predicted to escalate the expansion & growth of the Polyphenylene Sulfide business in region of Asia Pacific during the estimated span.
The Polyphenylene Sulfide market of the region of North America produced margin of that crossed the figure of eighty five million US dollars in year 2013. The increasing use of the Polyphenylene Sulfide chemicals in air as well as waste management practices is predicted to boost the growth of the Polyphenylene Sulfide market in this region. The CAFE (Corporate Average Fuel Economy) standard is promoting the automobile manufacturers to scrutinize materials which not only minimizes mass but also are cost effective as compared to metals. This will enhance the demand for Polyphenylene Sulfide compounds which in turn will result in significant proportion of growth of the Polyphenylene Sulfide market during the estimated period.
Main players profiled in the Polyphenylene Sulfide market report includes Toray Industries, Kureha Chemical Industry Company Limited, Chengdu Letian Plastics Company Limited, Wilmington NC, DIC Corporation, SABIC Innovative Plastics, Sino Polymer, Chevron Phillip, Tosoh Corporation and Chengdu Letian Plastics Company Limited.
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