The global polyphenylene sulfide (PPS) market size was valued at USD 1.00 billion in 2016 and is expected to show significant growth at a CAGR of 8.8% from 2017 to 2025. The demand for PPS in automotive sector is expected to witness a high growth on account of its application in exhaust gas return valves, carburetor parts, ignition plates and flow control valves for heating systems.
Polyphenylene sulfide offers various properties including high creep resistance, stiffness and strength, excellent temperature properties and good chemical resistance. Its application in general industries such as hair dryer components and grills, cooking appliances, and serializable medical, laboratory and dental equipment is expected to augment the market growth over the forecast period.
PPS is 100% recyclable, environment-friendly and most efficient solution owing to the extremely lower carbon emissions as compared to other polymers including epoxy, ABS, PTFE, PEI, PPA, PSU, PFA, EAP, and PVDF. This property is expected to increase its demand for automotive, and electronics applications.
Increasing product usage in wide range of automotive components including coolant systems, engine components, transmission components, switches, and pistons is projected to promote industry growth. Rising demand for PPS on account of its high resistance to corrosion, temperature, chemical, wear, and radiation. Rising automotive production mainly in China, Mexico, South Korea, Malaysia, U.S., Indonesia, Germany, Japan, and Taiwan will stimulate market expansion over the forecast period.
PPS find usage in wide applications in aerospace sector including ducting, ribs, panels, brackets, seat frames, and fasteners. The growing aerospace sector on account of increasing government investments in aerospace mainly in China, India, South Korea, Singapore, and Malaysia is further expected to propel the PPS demand over the upcoming years.
Rising PPS usage in coatings applications as it offers superior chemical resistance, electrical properties, and high heat resistance will augment product demand over the forecast period. Furthermore, high usage in chemical processing, food processing equipment, and non-stick cookware, is expected to increase product usage over the next eight years. However, rising demand for substitutes including PEI, polyamide, PEEK along with volatility in raw material prices is expected to hinder industry growth over the forecast period.
The automotive application segment is expected to witness volume rise at a CAGR of 8.6% from 2017 to 2025. PPS is increasingly being used in the automobile industry as it provides benefits in terms of transmission and brake fluids, antifreeze, resistance to fuel, and high temperature.
It also provides weight reduction and increased stability as compared to a full metal framework and finds applications in various automotive parts including coolant circuit, actuators, motor insulators, brakes, IC regulator & rectifier, fuel pump parts, and gaskets. Increasing automotive production mainly in Thailand, China, India, Indonesia, South Korea, Mexico, the U.S., Japan, Malaysia, and Taiwan is a major driver for market growth.
Coatings accounted for 5.8% of the overall revenue share in 2016 and is expected to witness growth on account of various properties including electrical properties, excellent chemical resistance, and high heat resistance.
PPS offers excellent corrosion and chemical resistant coatings as a primer for a top coat. PPS sealer/primer is used for application in various interior substances, such as doors and walls, on account of its superior characteristics, including outstanding product versatility, fast dry, ability to bond to glossy surfaces as well as good sanding properties.
Asia Pacific is projected to show significant revenue rise at an estimated CAGR of 9.9% from 2017 to 2025 on account of the presence of robust manufacturing base of automotive, electronics and coating sectors in India, Singapore, and China. Rapid growth in automotive industry in China on account of urbanization along with high demand for SUVs and sedans is expected to propel market size.
Mounting aerospace sector on account of increasing number of domestic manufacturers in China including Chengdu, Xi’an, Jiangxi, Shanghai, and Shenyang is further expected to drive market over the forecast period. Increasing number of power plants in the country will stimulate PPS demand in filter bags, thereby creating immense market potential in the near future. In addition, presence of PPS manufacturers including Toray and Tosoh in Japan is anticipated to have a positive impact on PPS market over the next eight years.
North America market was valued at USD 215.8 million in 2016 and is expected to witness substantial growth on account of presence of leading automobile companies including Honda Motors, Nissan, and Mazda and new product launches by GM and Ford.
The burgeoning aerospace industry in the U.S. along with the emergence of major aerospace companies in Mexico are likely to fuel the demand for PPS. The presence of industry giants including Boeing and Airbus is projected to further propel the market over the forecast period.
Polyphenylene sulfide market is highly competitive with key players involved in constant R&D activities. Key participants include Tosoh Corporation, Toray, Celanese Corporation, SK Chemicals, Lumeha, DIC, Solvay, Kureha Corporation and SABIC. The market is categorized by significant merger and acquisition activities in order to gain overall market share and increase profitability.
In October 2016, DIC Corporation introduced LP-150-LDS, a new PPS compound, especially for use in laser direct structuring (LDS), a molded interconnect device (MID) used for forming circuits on 3D molded compounds. The company is promoting the product with an intent to reinforce its market share and enhance the global supply configuration and technical service.
In July 2015, DIC Corporation established a new polyphenylene sulfide (PPS) product technical center in Germany at an investment of approximately USD 2.97 million to produce PPS. In April 2014, Celanese launched Fortron PPS ICE (improved crystallization evolution), a new grade of PPS, intended for injection molding applications to reduce cycle time, scrap rates, and the overall production costs
In October 2015, Solvay acquired EPIC Polymers’ long-fiber thermoplastics (LFT) technology for high-performance lightweight materials in order to replace metals in automotive applications.
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Attributes |
Details |
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Base year for estimation |
2016 |
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Actual estimates/Historical data |
2014 - 2015 |
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Forecast period |
2017 - 2025 |
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Market representation |
Volume in Tons & Revenue in USD Million and CAGR from 2017 to 2025 |
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Regional scope |
North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa |
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Country scope |
U.S., Germany, China, and Brazil |
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Report coverage |
Volume & revenue forecast, company share, competitive landscape, growth factors, and trends |
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15% free customization scope (equivalent to 5 analyst working days) |
If you need specific market 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 volume and revenue growth at a global, regional & country level, and provides an analysis on the 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 (PPS) market 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
China
Japan
Central & South America
Brazil
Middle East & Africa
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