The global Polyphenylene Sulfide market size was valued at USD 1.09 billion in 2017 and is projected to expand at a CAGR of 8.8% over the forecast period. PPS is a crystalline polymer and possesses various properties including high chemical resistance and temperature performance. The product is projected to witness high demand across several industries due to aforementioned properties. Utilization of PPS in the manufacturing of various electronic components, such coil formers, as connectors, circuit breakers, micro switches, HDD actuators, bobbins, relay components, terminal blocks, as well as switch components, is also projected to augment the industry growth.
Automotive and electronics & electrical were the prominent applications in 2017. The product has vast application scope within the automotive industry; thus, witnesses high demand in vehicle manufacturing sector, particularly from emerging economies. As a result, automotive is likely to witness the fastest growth in coming years. PPS is also used in other applications including aerospace and defense. Its composites are used in the manufacturing of rudders and elevation in the Gulfstream G650 business jet.
The product is likely to witness demand in airplane manufacturing with the increasing use of composites in airplane manufacture, such as the Airbus A380 and Boeing 787 Dreamliner, which use up to 50% of composites in the primary structure including fuselage and wing. Increasing product use in various automotive parts, such as engine components, switches, transmission components, pistons, and coolant systems, will also fuel the industry growth.
In addition, rapidly expanding automotive manufacturing sector, especially in China, Indonesia, Mexico, U.S., Germany, South Korea, Japan, Taiwan, and Malaysia, will impel the industry growth. Major auto manufacturers focus on weight reduction of vehicles due to rising need to lower the toxic emissions and improve fuel-efficiency. As a result, companies are looking for polymer replacements to metal parts, which is projected to augment the demand for PPS over the next few years.
Rising usage of the compound in high-temperature applications owing to its superior performance and mechanical characteristics is projected to drive demand over the next few years. It is also used as filter bags in coal-fired power plants. However, availability of product substitutes, such as PEEK and PEI, along with fluctuating raw material costs is projected to hinder market growth.
PPS is used in fuel system parts, engine components, power trains, brake systems, transmissions, lighting, and electrical applications. Improving road networks and rapid industrial developments in the Asia Pacific region are projected to boost the automotive sector; thereby, augmenting the PPS market. Demand for lightweight vehicles for better fuel efficiency and reduced toxic emissions has resulted in rising usage of lighter polymers over heavy metal parts. PPS is a preferred polymer in automotive applications due to its superior properties including creep and temperature resistance, stiffness, and strength.
Luxury brands, such as Mercedes Benz, have been using the polymer for their engine components to reduce weight and improve the overall stability. The PPS coatings can be applied using methods, such as slurry coating, electrostatic coating on cold or hot surfaces, powder flocking, or fluidized bed coating. Coatings are used to protect ferrous parts in the chemical and construction industries from corrosion. However, these techniques require subsequent oven curing, leading to the coatings being exposed to temperatures in the range of 300 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 is anticipated to witness a strong CAGR of 6.2% from 2018 to 2025. The market growth can be attributed to extensive usage of PPS in air and waste management applications in the region. In addition, growing automotive sector in U.S. is anticipated to propel the product demand. The Corporate Average Fuel Economy (CAFE) standards are pushing auto manufacturers to use materials that not only reduce vehicle weight but are also cheaper than metal. Leading automobile manufacturers, such as Nissan, Honda Motors, and Mazda, have started production in Mexico.
Product launches by Ford and GM are anticipated to fuel the PPS demand in the region. Robust automotive manufacturing base in U.S. is projected to have a positive influence on the overall industry. Growing demand for the product in aerospace industry in U.S. owing to the surge in commercial flying will boost this growth further. Replacement of obsolete aircrafts with next-generation, fuel-efficient aircrafts is also estimated to spur the commercial aerospace sector in the country, thereby supporting PPS market.
Germany’s the automotive industry is one of the significant sectors in the country, which produces more than 6 million vehicles, including passenger and commercial vehicles every year. The country’s automotive market accounts for over 29% of the total automobile industry share in Europe. Thus, growing automotive industry in Germany is likely to promote Europe market growth in future.
High to moderate entry barriers, due to huge capital investments and difficulty in registration, are anticipated to result in intense industry competition. Industrial rivalry is projected to be high during forecast years on account of distinguished alternatives for produced goods, as well as swift industrial growth. Key companies in the market include DIC Corp.; Toray Industries, Inc.; Tosoh Corp.; SK Chemicals; Daicel Corp.; SABIC; Teijin Ltd.; and RTP Company, Inc. These companies have undertaken several marketing strategies, such as capacity expansion, M&A, and product and technological innovation.
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Attribute |
Details |
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Base year for estimation |
2017 |
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Actual estimates/Historical data |
2014 - 2016 |
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Forecast period |
2018 - 2025 |
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Market representation |
Volume in Tons, Revenue in USD Million and CAGR from 2018 to 2025 |
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Regional scope |
North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa |
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Country scope |
U.S., Germany, China, Japan, and Brazil |
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Report coverage |
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 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 and volume 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 (PPS) 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
China
Japan
Central & South America
Brazil
Middle East & Africa
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