Based on a report by Grand View Research, Inc.; the global polyphenylene sulfide (PPS) market is anticipated to attain a valuation of USD 2.14 billion through 2025. PPS possesses stiffness and strength, high creep resistance, good chemical resistance and excellent temperature properties. Rising demand from automotive, aerospace, electronics and other industries can propel the market over the forecast period (2014 to 2025). Applications in cooking appliances, hair dryer components and grills, serializable laboratory, and medical and dental equipment is anticipated to further drive the market.
Polyphenylene sulfide is an environment-friendly material and completely recyclable. It causes lower carbon emissions compared to other polymers like acrylonitrile butadiene styrene (ABS), epoxy, polytetrafluoroethylene (PTFE), polyphthalamide (PPA), polyethylenimine (PEI), polysulfone (PSU), electroactive polymers (EAP), polyvinylidene difluoride (PVDF), and perfluoroalkoxy alkanes (PFA). This property is projected to boost the demand in electronic and automotive applications. The product can be used in engine, transmission, pistons, coolant systems, switches, and other such automotive components. In addition, PPS can be used as substitute to several metals as it improves fuel efficiency by reducing the overall weight of the vehicle.
Full Research Report On PPS Market Analysis: https://www.grandviewresearch.com/industry-analysis/polyphenylene-sulfide-pps-industry
Flourishing aerospace sector owing to growing government funds in aerospace can drive the polyphenylene sulfide market in the years to come. PPS can be utilized in aerospace sector for manufacturing ribs, brackets, panels, fasteners, and seat frames. Moreover, increasing use of the product in coating applications can boost the market during the forecast period. It provides high chemical and heat resistance, and excellent electrical properties. However, fluctuations in raw material prices is expected to hinder industry growth over the forecast period
Nevertheless, governments of several countries have directed the practice of filter bag installation in power plants to decrease the harmful effects and emission of greenhouse gases. Consequently, demand for polyphenylene is anticipated to increase as it is used in the filters from coal-fired power plants as well as dust chamber filters that are used in furnaces. For instance, Solvay has recently developed a product called Ryton R-4-300 polyphenylene sulfide (PPS). This material can be utilized in thermal management modules and parts..
The worldwide polyphenylene sulfide (PPS) market is divided on the basis of application and regions. Based on applications, the market is fragmented into automotive, electrical and electronics, industrial, coatings, and others. Automotive segment is anticipated to witness an impressive rise in terms of demand over the forecast period. The segment is expected to register a 8.6% CAGR till 2025.
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Geographically, the market is divided into North America, Europe, Central & South America, Asia Pacific, and Middle East & Africa. In 2016, Asia Pacific captured largest market share with nearly 60.6% total market share in terms of volume. It is likely to exhibit momentous revenue growth at an estimated CAGR of 9.9% from2017 to 2025. The growth can be accredited to growing automotive, coating, and electronics industries in the region. Growing aerospace sector in India, China, Malaysia, Singapore, and South Korea is expected to further augment the market in near future. In addition, rising number of power plants in the region, especially in China may increase the demand for filter bags, which will create business opportunities in the region.
In 2016, North America market was valued at USD 215.8 million and is anticipated to witness significant growth over the forecast period. This expansion is attributed to the existence of top automobile companies in the region. Escalating aerospace industry in the U.S. along with the development of major aerospace companies in Mexico are expected to impel the market in the forthcoming years.
Some of the leading companies operating in the polyphenylene sulfide (PPS) market include Kureha Corporation, DIC Corporation, Tosoh, Polyplastics Co., Ltd., and Solvay. The market looks very competitive and diversified due to the presence of many regional and international manufacturers across the world. The manufacturers are competing among each other on the basis of innovation, performance, and price.
Many key companies are focusing on manufacturing bio-based plastics for minimizing the harmful effects of plastics on the environment, which is anticipated to create a positive outlook for the market.
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