According to a new market report published by Acute Market Reports “Polyphenylene Sulfide (PPS) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2023,” the Polyphenylene Sulfide (PPS) market was valued at US$ 0.86 Bn in 2015, and is expected to reach US$ 2.0 Bn by 2023, expanding at a CAGR of 13.0% from 2016 to 2023.
Browse the full Polyphenylene Sulfide (PPS) Market for Electrical & Electronics, Automotive, Industrial, Coatings, Filtration & Filter Bags and Other Applications- Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2023 report at https://www.acutemarketreports.com/report/polyphenylene-sulfide-pps-market
Market Insights
Polyphenylene Sulfide (PPS) is an aromatic polymer which is crystalline in nature and contains sulfide linkages. These polymers are characterized by their molecular weight. Three types of polyphenylene sulfide grades are available which include- filled resin, neat resin and glass/mineral filled resins. All the three grades have excellent chemical resistance and high-temperature stability. These polymers differ in their mechanical properties and processibility. Polyphenylene sulfide which is commercially manufactured is segmented into linear and cross linking processes.
The major factors driving the global polyphenylene sulfide (PPS) market include the growth in the Chinese automobile industry. Due to the beneficial properties of polyphenylene Sulfide such as resistance to fuel, transmission and brake fluids and high temperatures, high demand is reported for polyphenylene sulfide from the automotive industry. It helps in increased stability and weight reduction in comparison to the full metal body framework. The vital automotive applications include fuel system parts, electrical & electronic components and induction systems among others. Growing per capita income of people in the region has led to high demand for vehicles in the market. This has led to high growth of automotive industry in China and Japan. Another factor contributing to the growth of global polyphenylene sulfide market is the increasing use of filter bags in thermal and coal power plants. Hence, high demand is experienced for polyphenylene sulfide in the global market.
Competitive Insights:
Polyphenylene sulfide is used in a wide range of end-use industries. On the basis of its applications, the global polyphenylene sulfide market is segmented into electrical & electronics, automotive, industrial, coatings, filtration & filter bags and others. Filtration & filter bags accounted for major share of global polyphenylene sulfide market in 2014. Stringent regulations in the industrial sector have led to high demand for polyphenylene sulfide in the market. Resistance towards mineral and alkaline acids and hydrolysis properties has contributed to the growth of filtration & filter bags globally. Electrical & electronics was the second largest application segment of polyphenylene sulfide and is expected to boost market demand in the near future. Rising demand for polyphenylene sulfide in the manufacture of electrical components is expected to boost market demand in the coming years. Other applications such as automotive, coatings, industrial and others are also projected to fuel market demand for polyphenylene sulfide during the forecast period from 2016 to 2023.
Key Trends:
- High demand from various end use industries
- Automotive industry driving the growth of market
- Asia Pacific is the fastest growing region
- Opportunities from increase in industrial applications
