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.
Browse In-depth Insights: 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.
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.
Browse Press release of this Report: www.grandviewresearch.com/press-release/Global-Polyphenylene-Sulfide-(PPS)-Industry
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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