Grand View Research, Inc. - Market Research And Consulting.According to report published by Grand View Research, Several characteristics including high creep resistance, stiffness and strength, excellent temperature properties, and good chemical resistance are the key factors driving the Polyphenylene Sulfide (PPS) Market growth.
According to a report, "Polyphenylene Sulfide (PPS) Market Size, Share & Trends Analysis Report, By Application (Automotive, Electrical & Electronics, Industrial, Coatings), By Region, And Segment Forecasts, 2019 - 2025", published by Grand View Research, Inc., The global polyphenylene sulfide market size is expected to reach USD 2.14 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to witness a CAGR of 8.8% during the forecast period.
The consumption of in automotive industries is projected to exhibit a significant growth owing to rising application in carburetor parts, exhaust gas return valves, flow control valves intended for heating systems, and ignition plates. PPS is also utilized in industrial applications including grills, hair dryer parts, cooking appliances, as well as serializable laboratory, dental, and medical equipment. This factor is anticipated to spur the product demand over the next few years.
Asia Pacific is anticipated to showcase substantial growth in light of rising living standard and increasing industrialization especially in China and India. Moreover, rising automotive, oil and gas, paints and coatings, and medical sectors will fuel expansion of the PPS market over the next seven years.
Key Takeaways from the report:
In terms of revenue, electronics and electrical application is projected to ascend at a CAGR of 8.8% over the forecast years
Automotive application led the global PPS market with a volume share of over 31.8% in 2018
Industrial, constituting a revenue share of 24.5% in 2018, is projected to exhibit a high growth in the next few years
Asia Pacific led the global Polyphenylene Sulfide (PPS) market in 2018 with 62.1% volume share. This trend is projected to continue over the next few years
Growing aviation industry on account of increasing government investments in aerospace mainly in India, South Korea, Singapore, and Malaysia is further expected to propel the demand from aerospace market
The market is highly competitive in nature. The main players include DIC, Toray Industries, Tosoh Corporation, SK Chemicals, Daicel Corporation, SABIC, Teijin Ltd. and RTP Company
Various manufacturers are concentrating on new product launches, capacity expansions, and technological innovations to estimate existing and future demand patterns from upcoming application segments.
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Asia Pacific is anticipated to showcase substantial growth in light of rising living standard and increasing industrialization especially in China and India. Moreover, rising automotive, oil and gas, paints and coatings, and medical sectors will fuel expansion of the PPS market over the next seven years.
Growing demand for electrical and electronics components, including brush holders, motor housing, coil formers, connectors, terminal blocks, and thermostats and switch components in emerging economies including India, China, Malaysia, and Indonesia owing to rising disposable income of consumers is expected to propel polyphenylene sulfide market growth.
Rising consumption in coating applications owing to the high heat resistance, chemical resistance, and excellent electrical properties of polyphenylene sulfide will augment the demand. Also, high consumption in non-stick cookware, food processing, and chemical processing equipment will stimulate product penetration over the next few years.
Grand View Research has segmented the global Polyphenylene Sulfide market on the basis of application and region:
Polyphenylene Sulfide (PPS) Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Automotive
Electrical & Electronics
Industrial
Coatings
Others
Polyphenylene Sulfide (PPS) Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
North America
U.S.
Europe
Germany
Asia Pacific
Japan
China
Central & South America
Brazil
Middle East & Africa
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About Grad View Research, Inc.
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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