The global polyphenylene sulfide (PPS) market size was estimated at USD 1.19 billion in 2018. It is anticipated to expand at a CAGR of 8.8% during the forecast period. Polyphenylene sulfide is a crystalline polymer, whose high chemical resistance and temperature performance among other properties are projected to fuel the demand over the next few years.
Utilization for manufacturing various electronic components such as coil formers, connectors, circuit breakers, micro switches, HDD actuators, bobbins, relay components, terminal blocks, brush holders, thermostat parts, motor housings, as well as switch components is projected to augment the demand for PPS.
Automotive and electronics and electrical were the prominent application segments in 2018. PPS has vast scope of application scope within the automotive industry resulting in the increased demand from automotive manufacturing countries such as India, China, and Japan. The segment is also likely to exhibit the fastest CAGR owing to growing need for light weight and higher stability in automobiles.
Polyphenylene sulfide finds application in aerospace and defense. PPS composites have been used for making rudders and elevation in the Gulfstream G650 business jet in the past. They are projected to find greater use in airplane manufacturing with the increasing use of composites for manufacturing airplanes such as the Airbus A380 and Boeing 787 Dreamliner, which use up to 50% of composites in the primary structure including fuselage and wing.
PPS market size is anticipated to witness significant growth over the next eight years owing to increasing demand from various sectors including automotive, electronics, industrial, and aerospace. Rising consumption of the compound in high-temperature applications owing to superior performance and mechanical characteristics is projected to drive the market over the next few years.
Increasing use in various automotive parts such as engine components, switches, transmission components, pistons, and coolant systems will fuel industry growth. Increasing automotive manufacturing especially in China, Indonesia, Mexico, U.S., Germany, South Korea, Japan, Taiwan, and Malaysia will promote market expansion in the upcoming years.
Polyphenylene sulfide is 100% recyclable, increases fuel economy, and reduces emission levels. All these factors are likely to driver the product demand from different end-use industries. High preference for PPS over to metals owing to weight reduction is likely to further propel the demand. However, the presence of substitutes including PEEK and PEI along with fluctuating raw material costs is projected to challenge growth over the next eight years.
The use of PPS in automobile parts and as filter bags in coal-fired power plants is anticipated to witness growth in near future. Automotive industry is likely to witness robust growth in countries such as India, China, and Brazil. The need for lower emissions and higher fuel economy has resulted in increased focus on reducing the weight of automobiles. Companies are looking for polymer replacements to metal parts, which is projected to augment the consumption of PPS over the next few years.
Polyphenylene sulfide is used in fuel system parts, engine components, power trains, brake systems, transmissions, lighting, and electrical applications. It is employed in parts which could be exposed to high temperatures or corrosion. The expansion of road networks in Asia Pacific and the commitment of the regional governments toward industrial and infrastructural development are projected to boost vehicles sales and thus have a favorable impact on the Polyphenylene Sulfide (PPS) market over the next few years.
Growing requirement for weight reduction in cars to improve their efficiency and to reduce emissions has resulted in the need to replace heavy metal parts with lighter polymers. PPS is a preferred polymer in automotive application due to its superior properties including creep resistance, stiffness, strength, and temperature resistance. Luxury brands such as Mercedes Benz have been using polyphenylene sulfide for their engine components to reduce weight and to improve overall stability.
Coatings are used to protect ferrous parts in chemical and construction industries from corrosion. Polyphenylene sulfide coatings can be applied using methods such as slurry coating, electrostatic coating on cold or hot surfaces, powder flocking, or fluidized bed coating. However, these techniques require subsequent oven curing, leading to the coatings being exposed to temperatures in the range of 300 °C to 3700 °C. This process limits the use of PPS coatings on large surfaces since they cannot be accommodated in the oven.
In terms of volume, North America PPS market is anticipated to witness a CAGR of 6.2% from 2019 to 2025. Demand for polyphenylene sulfide in North America is predicted to rise due to its use in air and waste management. In addition, burgeoning automotive sector is anticipated to propel the product consumption in U.S. The Corporate Average Fuel Economy (CAFE) standards are pushing automotive manufacturers to examine materials that not only reduce weight but are also cheaper than metal.
Leading automobile manufacturers such as Nissan, Honda Motors, and Mazda have started production in Mexico. Modern product launches by Ford and GM are anticipated to promote the growth of this sector, thereby augmenting the regional consumption of polyphenylene sulfide. Other applications include aerospace, defense, and filter bags.
Robust manufacturing base of automotive vehicles in U.S. is projected to exhibit a positive influence on the polyphenylene sulfide industry in near future. Growing demand for the product from the U.S. aerospace industry owing to the surge in commercial flying is likely to further boost this growth. Accelerated replacement of obsolete aircraft with next-generation, fuel-efficient aircraft is further expected to spur the commercial aerospace sector in the country.
Automotive industry is one of the significant sectors in Germany and produces more than 6 million vehicles including passenger and commercial vehicles every year. Germany is one of the leading manufacturers of passenger vehicles among the European Union countries. The country’s automotive market accounts for over 29% of the total automobile industry share in Europe. Growing automotive industry in Germany is likely to promote growth of PPS market in the future.
High to moderate entry barriers, as a result of difficulty in registration and large capital investment, are anticipated to assert high competition among major manufacturers. Moreover, the industrial rivalry is projected to stay high as a result of distinguished alternatives for produced goods as well as the swift industrial growth in the forthcoming years.
Rising demand for the product as a result of its high resistance to corrosion, temperature, chemical, wear, and radiation will fuel its demand. The market is identified by activities, such as capacity expansions, acquisitions and mergers, and product and technological innovations attempted by the key manufacturers, such as Toray Industries, SK Chemicals, Solvay, Kureha Corporation, DIC, and Polyplastics Co., Ltd.
Big companies are increasing their geographical presence to obtain maximum market share. The establishment of strategic partnerships with buyers to build new products is projected to remain a critical success factor over the next few years. Taking into account all of the above factors, manufacturers are likely to focus on product innovation catering particularly to the electric and electronic equipment, home appliances, and automotive components.
Attribute |
Details |
Base year for estimation |
2018 |
Actual estimates/Historical data |
2014 - 2017 |
Forecast period |
2019 - 2025 |
Market representation |
Volume in Tons, Revenue in USD Million & CAGR from 2019 to 2025 |
Regional scope |
North America, Europe, Asia Pacific, Central & South America, Middle East & Africa |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
Country Scope |
U.S., Germany, Japan, China, Brazil |
15% free customization scope (equivalent to 5 analyst working days) |
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global Polyphenylene Sulfide market report on the basis of application and region:
Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Automotive
Electrical & Electronics
Industrial
Coatings
Others
Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
North America
U.S.
Europe
Germany
Asia Pacific
Japan
China
Central & South America
Brazil
Middle East & Africa
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Halted manufacturing activities across various end-use industries has led to weakened demand for specialty polymers. The prevailing macroenvironment due to the pandemic shall register indications of recovery depending on the course of COVID-19's prevalence and subsequent resuming of manufacturing activities. The report will account for Covid19 as a key market contributor.