Industry Background:
The global Polyphenylene Sulfide market is expected to witness high demand in the forecasted period due to the increasing consumption of polyphenylene sulfide can be mainly attributed to its highly advantageous physical properties. Polyphenylene sulfide is a crystalline polymer, whose high chemical resistance and temperature performance among other properties are projected to fuel the demand over the next few years. Polyphenylene Sulfide (PPS) is used in manufacturing the filter bags and dust chambers used in the coal power plants as they can withstand basic and acidic conditions without changing their original properties.
According to AMA Research, the market for Polyphenylene Sulfide is expected to register a CAGR of 8.8% during the forecast period to 2027. This growth is primarily driven by High demand due to government regulations & policies
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | N |
Value Unit | Value (USD Billion) |
Key Companies in Study | Toray (Japan), DIC (Japan), Teijin (Japan), Kureha (Japan), Celanese (United States), Chevron Phillips Chemical (United States), Toyobo (United States), Bayer AG (Germany), SK Chemicals (South Korea) and SABIC (Saudi Arabia) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Globally, a noticeable market trend is evident Rising consumption of the compound in high-temperature applications owing to superior performance
. The Chemicals sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Toray (Japan), DIC (Japan), Teijin (Japan), Kureha (Japan), Celanese (United States), Chevron Phillips Chemical (United States), Toyobo (United States), Bayer AG (Germany), SK Chemicals (South Korea) and SABIC (Saudi Arabia) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 24th June 2022, Toray announced that it set up the Environment & Mobility Development Center in Otsu, Shiga Prefecture, and Nagoya, Aichi Prefecture. The new center will reinforce technology development and marketing and enhance collaboration among global development units to build Toray’s business in the environment and mobility fields.
In 2019, Toray develop polyphenylene sulfide resin with the world’s highest flexibility level while maintaining its superior heat resistance and chemical resistance. The company plans to start proposing applications of the new resin primarily for automobiles in April this year and will pursue expansion of its application into various industrial material fields.The companies are exploring the market by adopting expansions, investments, new product launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations.
Market Drivers
- High demand due to government regulations & policies
- Increasing automotive manufacturing in developing countries
Market Trend
- Rising consumption of the compound in high-temperature applications owing to superior performance
- High preference for PPS over to metals owing to weight reduction is likely to further propel the demand
Restraints
- The presence of substitutes including PEEK and PEI
Opportunities
The automotive industry is likely to witness robust growth in countries such as India, China, and Brazil
Challenges
The fluctuating raw material costs
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Polyphenylene Sulfide Study Sheds Light on
The Polyphenylene Sulfide Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Polyphenylene Sulfide industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Polyphenylene Sulfide industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.