Increasing application in electrical & electronics industry is expected to drive the global sulfone polymers market over the forecast period. Superior flame-retardant properties of sulfone polymers are a major factor driving its demand in electrical & electronics. Growing demand for electronics in households and industrial is expected to complement the market growth. High rigidity, toughness, and corrosion resistance of sulfone polymers have been driving its usage in automotive and aircraft interiors. Increasing automotive production and growing aviation sector is projected to drive sulfone polymers market over the forecast period. Sulfone polymers are approved for food applications owing to their low toxicity. Due to its retaining physical property in steam, these polymers are used in the food packaging industry. Increasing the use of packed food in daily consumption is anticipated to drive the market in the future. These polymers are also used to manufacture several medical, dental care, and orthopedic devices. Increasing medical equipment demand is expected to drive sulfone polymers market over the next six years. Due to its high strengthen property, these polymers are also used to manufacture coatings, composites, fuel systems, pipes, and fitting. Increasing demand for these products is expected to further complement the global market growth.
North America is a major regional market in terms of consumption and production. Sulfone polymers demand in the region is largely from aerospace and automotive applications. The U.S. is a major producer of sulfone polymers in the region with Mexico expected to register highest demand over the forecast period. Asia Pacific market is expected to be the fastest growing regional market over the forecast period on account of increasing sulfone polymers demand in automotive, electronic components, and aircraft applications. Increasing automotive production in Japan, India, and China is expected to complement the regional market growth. Sulfone polymers demand in electronic components is expected to be driven by increasing electronics production in China and Taiwan.
Some of the major players operating in the global sulfone polymers market include Sumitomo Corporation, Solvay Corporation, PolyOne Corporation, Solvay, and BASF SE. Solvay, BASF, and Sumitomo are major producers in the U.S., Europe, and Japan respectively. Major companies in the market are actively involved in M&A with smaller companies in order to increase their market presence in high growth regions.
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