Polyphenylene Sulfide (PPS) Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027Price: 3200/- USD | Published Date: September 15, 2020 |
The global polyphenylene sulfide (PPS) market has been projected to grow at the CAGR of 9% market during 2020-2027. PPS is polymerized by using a polycondensation reaction of para-dichlorobenzene and sodium sulfide or sodium hydrosulfide in a polar solvent under elevated temperatures. This polymer is created by a combination of various elements, including dehydration reaction, sodium chloride removal reaction, exothermic reaction, and high-temperature pressurization reaction. This process is very capital intensive due to the high cost of equipment and energy consumption.
PPS is used in various applications, such as automotive, electrical & electronics, filter bags, aerospace, industrial, coatings, and others. In 2019, the automotive segment accounted for the largest market share, in terms of volume, followed by filter bags and electrical & electronics. The increasing automotive industry in emerging countries of Asia-Pacific is driving the polyphenylene sulfide market. Japan is the largest producer of PPS resins worldwide with the presence of manufacturing sites of major industry players in the country. North America accounted for the second-largest market share in the automotive application segment in 2019. Japan and the U.S. have the majority of the PPS resins manufacturing plants. These countries have been manufacturing more than their demand, thus creating an oversupply in the market. The filter bags application segment is projected to witness the highest CAGR between 2020 and 2027, followed by the aerospace application. With stringent principles imposed for particulate matter emissions from power plants, the need for PPS filter bags has increased, which has higher efficiencies.
Market Segment Insights:
The automotive segment accounted for more than a 26% share of the global PSS market in 2019. Strict regulations and norms in industrial sectors such as coal-fired plants, thermal power plants and smoke filtration plants have led to high market penetration in the segment. Electrical & Electronics accounted as the second-largest application segment of PSS market in 2019. This application segment is expected to witness growth in the near future due to rising PPS applications in the manufacture of a variety of electrical components in electrical, fuel, lighting and cooling systems. Automotive is another application driving the demand for PSS in the market. Growing automotive manufacturing companies in China and Japan are contributing to the growth of the global PSS market. Other applications such as industrial, coatings, and others are also projected to boost market demand for PSS in the global market.
Global Polyphenylene Sulfide (PPS) Market Segmentation:
By Application, 2018–2027 (Kilo Tons) (US$ Mn)
- Electrical & Electronics
- Filtration & Filter Bags
By Geography, 2018-2027 (Kilo Tons) (US$ Mn)
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
Asia Pacific accounted for the largest share of the global PPS market in 2019. Rapid industrialization in the developing economies is the major factor driving the demand for PPS in the market. The increasing automotive sector in the region, especially China and India are boosting the demand for PPS on a large scale. North America was the second-largest region for PPS globally. High demand for industrial filters and filter bags in incinerators and mining is expected to fuel demand for PPS in North America. The increasing demand for high-temperature flame-resistant coatings is another factor contributing to the growth of the global PPS market. Europe accounted for the third-largest market for PPS due to the high demand for filters in the region form various end-use industries. Stringent government regulations in the region for industrial emissions have led to the growth of the PPS market in the region.
Market Competition Assessment:
The major players currently operating in the global polyphenylene sulfide (PPS) market include China Lumena New Materials Corporation, DIC Corporation, INITZ Co. Ltd., Kureha Corporation, Chengdu Letian Plastics Co., Ltd., Lion Idemitsu Composites Co. Ltd., Solvay S.A., Toray Industries, Inc., and Tosoh Corporation
List of Key Companies:
- China Lumena New Materials Corporation
- DIC Corporation
- INITZ Co. Ltd.
- Kureha Corporation
- Chengdu Letian Plastics Co., Ltd.
- Lion Idemitsu Composites Co. Ltd.
- Solvay S.A.
- Toray Industries, Inc.
- Tosoh Corporation
Key Questions Answered by Polyphenylene Sulfide (PPS) Market Report
- Global polyphenylene sulfide (PPS) market forecasts from 2020-2027
- Regional polyphenylene sulfide market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
- Country level forecasts from 2020-2027 covering 15 major countries from aforementioned regions
- Polyphenylene Sulfide (PPS) submarket forecasts from 2020-2027 covering submarket 1, submarket 2 submarket 3
- Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to polyphenylene sulfide (PPS) market
- Analysis of the key factors driving and restraining the growth of the global, regional and country level polyphenylene sulfide markets from 2020-2027
- Competitive Landscape and market positioning of top 10 players operating in the polyphenylene sulfide (pps) market
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Table of Content:
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
Chapter 2 Executive Summary
2.1 Global Polyphenylene Sulphide (PPS) Market Portraiture
2.2 Global Polyphenylene Sulphide (PPS) Market, by Application, 2019 (US$ Mn)
2.3 Global Polyphenylene Sulphide (PPS) Market, by Geography, 2019 (Value %)
Chapter 3 Global Polyphenylene Sulphide (PPS) Market Analysis
3.2 Major Market Trends and Key Takeaways
3.3 Market Dynamics
3.3.1 Market Drivers
18.104.22.168 Automotive industry driving the growth of market
22.214.171.124 The overcapacity of PPS may create demand-supply gap
3.4 Attractive Investment Proposition
3.5 Competitive Analysis: Global Polyphenylene Sulphide (PPS) Market, 2019
Chapter 4 Global Polyphenylene Sulphide (PPS) Market, by Application, 2018-2027 (US$ Mn)
4.2 Electrical & Electronics
4.6 Filtration & Filter Bags
Chapter 5 Global Polyphenylene Sulphide (PPS) Market, by Geography, 2018-2027 (US$ Mn)
5.2 North America (U.S. and Canada)
5.3 Europe (U.K., Germany and Rest of Europe)
5.4 Asia Pacific (China, Japan, India and Rest of APAC)
5.5 Latin America (Mexico, Brazil and Rest of LATAM)
5.6 Middle East and Africa (GCC, and Rest of Middle East and Africa)
Chapter 6 Company Profiles
6.1 China Lumena New Materials Corporation
6.2 DIC Corporation
6.3 INITZ Co. Ltd.
6.4 Kureha Corporation
6.5 Chengdu Letian Plastics Co., Ltd.
6.6 Lion Idemitsu Composites Co. Ltd.
6.7 Solvay S.A.
6.8 Toray Industries, Inc.
6.9 Tosoh Corporation
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