The Global Polyphenylene Sulfide (PPS) Market is forecasted to reach USD 2.57 Billion by 2028, according to a new report by Reports and Data. PPS is utilized in the manufacture of different electronics components, like connectors, micro switches, coil formers, HDD actuators, circuit breakers, relay components, brush holders, bobbins, motor housing, thermostat parts, and many other things. This products will augment the demand for PPS. The market is expected to witness a rise in demand owing to the increasing application from sectors like electronics, automotive, aerospace and industrial. The product is consumed in high-temperature applications, due to its superior performance and mechanical characteristics.
The product is completely recyclable; it reduces emission levels and increases fuel economy. All these factors are expected to drive the market. It is also preferred more over metals because of its weight reduction. Use of PPS as filter bags in coal-fired power plants is forecasted to boost the market. The need for low emissions, higher fuel economy, and reduction in vehicle’s weight is expanding the automotive industry in countries like China, India, and Brazil and will propel the demand for the market.
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Top Players in the Global Polyphenylene Sulfide (PPS) Market:
DIC Corporation, Solvay S.A., Lion Idemitsu Composites Co. Ltd., Kureha Corporation, Tosoh Corporation, Fortron Industries LLC, Medacta, CONMED, Kinamed Inc., and ConforMIS.
Further key findings from the report suggest
- Linear PPS is forecasted to grow with an annual growth rate of 7.7% throughout the forecast period. Cross-Linked PPS holds a market share of 57% in the year 2020.
- Virgin holds a market share of 51% in the year 2020. The decrease in the price of virgin PPS globally will increase its demand.
- Environmental concerns and cost savings is encouraging manufacturers to use recycled PPS, but the implementation of environmental regulations on its use will propel the market for virgin PPS.
- PPS is used in fuel systems parts, power trains, brake system, transmission, and engine components. It is forecasted to hold a market share of 17% by 2028 in the automotive sector.
- Aerospace and Defense holds a market share of 19% in the year 2020 owing to the surge in demand for commercial flying.
- Filter Bags hold a market share of 19% in the year 2020. The product is used in the filter and filter bags used in dust chamber filters in incinerators and coal-fired powered fire stations.
- PPS coatings are applied using methods such as the electrostatic coating on cold or hot surfaces, as slurry coating, fluidized bed coating, and powder flocking. PPS coatings application is limited by large surfaces as they cannot be accommodated in the oven.
- Rapid industrialization and urbanization in the APAC region are driving the PPS market in automotive applications.
- Asia Pacific holds the largest market share of 36% in the year 2020 owing to the fact that China and Japan are the leading regions of PPS.
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Market segmentation based on Type Outlook:
- Linear PPS
- Cross-Linked PPS
Recyclability Outlook:
- Virgin
- Recycled
Application Outlook:
- Automotive
- Electrical Electronics
- Industrial
- Filter Bags
- Aerospace
- Coatings
- Others
End Users Outlook:
- Healthcare
- Automobiles
- Textiles
- Aerospace and Defense
- Business Equipment
- Construction and Buildings
- Engineering Equipment
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Polyphenylene Sulfide (PPS) market over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the global Polyphenylene Sulfide (PPS) market?
- Which regional market is expected to lead in terms of revenue share in the global Polyphenylene Sulfide (PPS) market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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