The global polyphenylene sulfide (PPS) market is
expected to reach USD 2.14 billion by 2025, growing at a CAGR of 8.8% from 2017
to 2025 according to a report by Grand View Research, Inc. Rising demand for
PPS on account of its high resistance to corrosion, temperature, chemical,
wear, and radiation will fuel its demand.
The increasing usage of the product for various electronics and
electrical applications including fans & blowers, heat exchangers, relays,
connectors, switches, circuit breakers, CD/DVD optical pickup components,
connectors, HDTV & projection light engine housing, and inkjet cartridges
is expected to fuel the demand over the upcoming years.
Industrial applications accounted for 23.6% of overall volume
share in 2016 and is expected to witness considerable growth as a result of
increasing product usage in machines, oil field equipment, pipes, pumps,
valves, and fittings.
http://www.grandviewresearch.com/industry-analysis/polyphenylene-sulfide-pps-industry
Further key findings from the report suggest:
·
Automotive applications are expected to witness the significant
revenue rise at a CAGR of 9.3% from 2017 to 2025 on account of the growing
vehicle production in countries including South Korea, China, Mexico, U.S.,
Germany, Japan, Thailand and Taiwan
·
PPS is creating substantial opportunities for manufacturers by
acting as a substitute to various metals including carbon steel, aluminum, bronze,
stainless steel, brass, titanium and magnesium. The product improves the fuel
efficiency by reducing the overall weight of the vehicle.
·
Rising product consumption in several aerospace applications
including, airframe, fuselage, cabin interiors and empennage is anticipated to
drive industry over the next eight years. In addition,the development of the
aerospace sector especially in India and China, on account of the increasing
government spending is predicted to augment industry expansion.
·
The industry is categorized by various activities, including
mergers and acquisition, capacity expansion, technological innovation and
product innovation, undertaken by the major companies in the market including
DIC, Solvay, Toray Industries, Tosoh, Polyplastics Co., Ltd., SK Chemicals, and
Kureha Corporation.
·
In August 2017, Toray Industries, Inc. announced plans to setup
PPS compound production plant in Hungary at the site of Zoltek Companies, Inc.
with an annual production capacity of 3,000 tons. The plant is expected to be
operational from March 2018. The initiative is expected to strengthen the
company’s distribution network in Europe.
·
Asia Pacific was the largest market and accounted for 60.6% of the
overall volume in 2016. The presence of automobile participants including Honda
Automobile, Toyota Motors, Nissan Motors, and General Motors is expected to
stimulate industry expansion.
·
In October 2016, Celanese introduced five new polymer innovations
including Celstran High Flow LFT, Hostaform M25IE POM, Fortron Flexible PPS,
Celapex High Flow PEEK, and MetaLX to meet the growing consumer demand.
·
Fortron Flexible PPS is a highly durable, and heat resistant
polymer used for fasteners, tubes, clips, and cable ties for usage in complex
automotive and industrial systems.
Browse more reports of this
category by Grand View Research: http://www.grandviewresearch.com/industry/bulk-chemicals
Grand View Research has segmented the global polyphenylene sulfide
(PPS) market on the basis application, and region:
Application Outlook (Volume, Tons; Revenue, USD
Million; 2014 - 2025)
·
Automotive
·
Electrical & electronics
·
Industrial
·
Coatings
·
Others
Regional Outlook (Volume, Tons; Revenue, USD
Million; 2014 - 2025)
·
North America
o U.S.
·
Europe
o Germany
·
Asia Pacific
o China
o Japan
·
Central & South America
o Brazil
·
Middle East & Africa
View press
release of this research report by Grand View Research:
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more
information: www.grandviewresearch.com
No comments:
Post a Comment