The global polyphenylene sulfide (PPS) market is expected to reach USD 2.14 billion by 2025, growing at a CAGR of 8.8% from 2017 to 2025 according to a report by Grand View Research, Inc. Rising demand for PPS on account of its high resistance to corrosion, temperature, chemical, wear, and radiation will fuel its demand.
The increasing usage of the product for various electronics and electrical applications including fans & blowers, heat exchangers, relays, connectors, switches, circuit breakers, CD/DVD optical pickup components, connectors, HDTV & projection light engine housing, and inkjet cartridges is expected to fuel the demand over the upcoming years.
Industrial applications accounted for 23.6% of overall volume share in 2016 and is expected to witness considerable growth as a result of increasing product usage in machines, oil field equipment, pipes, pumps, valves, and fittings.
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Further key findings from the report suggest:
Automotive applications are expected to witness the significant revenue rise at a CAGR of 9.3% from 2017 to 2025 on account of the growing vehicle production in countries including South Korea, China, Mexico, U.S., Germany, Japan, Thailand and Taiwan
PPS is creating substantial opportunities for manufacturers by acting as a substitute to various metals including carbon steel, aluminum, bronze, stainless steel, brass, titanium and magnesium. The product improves the fuel efficiency by reducing the overall weight of the vehicle.
Rising product consumption in several aerospace applications including, airframe, fuselage, cabin interiors and empennage is anticipated to drive industry over the next eight years. In addition,the development of the aerospace sector especially in India and China, on account of the increasing government spending is predicted to augment industry expansion.
The industry is categorized by various activities, including mergers and acquisition, capacity expansion, technological innovation and product innovation, undertaken by the major companies in the market including DIC, Solvay, Toray Industries, Tosoh, Polyplastics Co., Ltd., SK Chemicals, and Kureha Corporation.
In August 2017, Toray Industries, Inc. announced plans to setup PPS compound production plant in Hungary at the site of Zoltek Companies, Inc. with an annual production capacity of 3,000 tons. The plant is expected to be operational from March 2018. The initiative is expected to strengthen the company’s distribution network in Europe.
Asia Pacific was the largest market and accounted for 60.6% of the overall volume in 2016. The presence of automobile participants including Honda Automobile, Toyota Motors, Nissan Motors, and General Motors is expected to stimulate industry expansion.
In October 2016, Celanese introduced five new polymer innovations including Celstran High Flow LFT, Hostaform M25IE POM, Fortron Flexible PPS, Celapex High Flow PEEK, and MetaLX to meet the growing consumer demand.
Fortron Flexible PPS is a highly durable, and heat resistant polymer used for fasteners, tubes, clips, and cable ties for usage in complex automotive and industrial systems.
Grand View Research has segmented the global polyphenylene sulfide (PPS) market on the basis application, and region:
Application Outlook (Volume, Tons; Revenue, USD Million; 2014 - 2025)
Electrical & electronics
Regional Outlook (Volume, Tons; Revenue, USD Million; 2014 - 2025)
Central & South America
Middle East & Africa
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