Modified Polyphenylene ether is anticipated to gain traction over the forecasted period owing its utilization in a wide range of applications including electrical devices, components in printers and copiers, water softeners, and others. These application presents prominent usage in huge spectrum of end-use industries comprising constructions, automobiles, electrical & electronics, water treatment, and others. Rising demand for the product from end-use industries in many application is expected to be the major driver propelling the growth for modified polyphenylene ether market globally.
Modified polyphenylene ether is commonly known for its properties like dimensional stability, heat resistance, and mechanical application. It can also be used as a flame retardant due to its excellent hydrolysis resistance and low moisture absorption properties. It is mostly formulated with nylon or polystyrene to enhance its quality and usability.
In October 2022, Asahi Kasei Plastics Singapore Pte Ltd, which is a subsidiary of Asahi Kasei, successfully acquired the International Sustainability & Carbon Certification (ISCC) PLUS for the production of modified polyphenylene ether. The company revealed that they will be using biomass-derived raw material, and are scheduled to commence the production from 2023. This factor is anticipated to further escalate the demand for modified polyphenylene market over the forthcoming years.
Growing automobile sector, especially the rising demand for electrical vehicle on the account of increasing promotion of government regarding its use in order to reduce carbon emission is likely to augment the demand for modified polyphenylene ether for its application in batteries. The product offers application, which focuses on improving safety, efficiency, and durability of batteries, thus will be excessively consumed by automotive industry for the production of electrical vehicles.
Modified polyphenylene ether market is highly competitive owing to increasing investment, research & development, and innovation for new product development by the market players. The manufacturers are striving to gain competitive edge through top quality product offering coupled with constant innovation in the product.
Asia pacific is anticipated to be the key consumer of modified polyphenylene ether owing to developing end-use industries in the region. China, South Korea, India, and Japan present lucrative growth opportunities for the market due to increasing industrial activities in these countries. Growing production of electric vehicle in South Korea and Japan is also driving the demand for the product over the projected years.
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