Dublin, May 03, 2023 (GLOBE NEWSWIRE) -- The "Polyphenylene Sulfide (PPS) Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product Type (Linear PPS, Cured PPS, Branched PPS), By Recyclability (Virgin, Recycled), By Application, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
Global polyphenylene sulfide (PPS) market is anticipated to grow at an impressive rate through 2028. Polyphenylene sulfide (PPS) is a high-temperature engineering thermoplastic that is semi-crystalline in structure.
It is a rigid and opaque polymer in terms of physical characteristics with a high melting point. It is made up of para-phenylene units that are connected with sulfide in sequence. The major exporter of polyphenylene sulfide resins is Japan, while both the largest importer and consumer are China. Due to its high heat-deflection temperature, superior dimensional stability, exceptional chemical resistance, and intrinsic flame retardancy, it is proven as an excellent substitute for metal and thermostats in various applications.
Polyphenylene sulfide (PPS) is an exceptional combination of properties and performance as per cost. Thus, it is used in the production of various high-performance thermoplastics, such as specialty nylons, sulfone polymers, aromatic polyketones, polyetherimides, liquid crystal polymers, and others. These advantages create demand for PPS in automotive, electrical/electronic, mechanical, and industrial industries. Therefore, we anticipate that the need for polyphenylene sulfide will rise in the forecasted period.
Rising Demand from Automotive Industry
The automotive industry is considered one of the significant end-user markets that drive the polyphenylene sulfide demand. Due to its excellent high-temperature resistance, performance, and chemical resistance, it is used in automobile industries to make fuel injection systems, thermostat holders, coolant systems, water pump impellers, electric brakes, switches, and others. Due to its Lighter weight and resistance to corrosion, polyphenylene sulfide is considered one of the best substitutes for metal, thermosets, and other types of plastic that helps in the production of low-weight vehicle and consume low energy.
According to the Indian Brand Equity Foundation, the Indian passenger car market amounted to 32.70 billion USD in 2021, and it is expected to reach 54.84 billion USD by 2027, with a CAGR of 9% during 2022-2027. Thus, considering trends and benefits led to an increase in the demand for global polyphenylene Sulfide (PPS) market growth in the anticipated period
Increasing Demand from the Electrical & Electronics Industry
Polyphenylene Sulfide (PPS) is considered an ideal material used in electronic goods and has proven its significance in electronic and electrical industries. High-temperature resistance, good dimensional stability, high durability, and good rigidity make PPS a better substitute for conventional plastic or thermostats. PPS provides an excellent flow and low contraction for precision moulding electrical equipment such as connectors and sockets. Polyphenylene Sulfide is used in producing electrical equipment like bobbins and connectors, hard disk drives, electronic housings, sockets, and switches as a substitution for other lower-temperature polymers.
Growing Demand from Developing Economies
To tackle the competition, firms are always searching for new materials with enhanced capacity than existing metals at lower prices. Investment in R&D, mergers, acquisitions, and joint ventures are the major strategies that firms are following to strengthen their positioning in the market. As an outcome, Japan is the largest producer of PPS neat resins and invests outside Japan in developing countries like China, India, Vietnam, Brazil, and others to fulfill the rising demand. Growing electronic and automotive industries and the effort of prominent players are going to create rewarding market opportunities in the forecasted period. Growing consumer awareness towards eco-friendly products and government initiatives are going to propel market growth. In addition, increasing investment in the R&D of polyphenylene Sulfide (PPS) to create a new application, such as in 3D printing, is further anticipated to fuel the market growth. According to Solvay SA, 50% of their net sales is contributed by end-user types like consumer goods & healthcare, Automotive & aerospace, and building & construction, where Polyphenylene Sulfide (PPS) is the major contributor.
Report Scope:
In this report, global polyphenylene Sulfide (PPS) market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Global Polyphenylene Sulfide (PPS) Market, By Product Type:
- Linear PPS
- Cured PPS
- Branched PPS
Global Polyphenylene Sulfide (PPS) Market, By Recyclability:
- Virgin
- Recycled
Global Polyphenylene Sulfide (PPS) Market, By Industry Application:
- Automotive
- Electrical and Electronics
- Industrial
- Aerospace
- Others.
Global Polyphenylene Sulfide (PPS) Market, By region:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Spain
- Italy
- Asia-Pacific
- China
- India
- South Korea
- Australia
- Japan
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Polyphenylene Sulfide (PPS) Market Outlook
6. North America Polyphenylene Sulfide (PPS) Market Outlook
7. Europe Polyphenylene Sulfide (PPS) Market Outlook
8. Asia-Pacific Polyphenylene Sulfide (PPS) Market Outlook
9. South America Polyphenylene Sulfide (PPS) Market Outlook
10. Middle East and Africa Polyphenylene Sulfide (PPS) Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Global Polyphenylene Sulfide (PPS) Market: SWOT Analysis
14. Porter's Five Forces Analysis
15. Competitive Landscape
16. Strategic Recommendations
A selection of companies mentioned in this report includes
- Albis Plastics Corporation
- Zhejiang NHU Company Ltd
- Solvay SA
- Toray Industries, Inc
- DIC Corp.
- Polyplastics Co. Ltd
- Ticona LLC
- Chengdu Letian Plastics Co, Ltd
- Avient Corp
- Lion Idemitsu Composites Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/spfipq
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