Polyphenylene Sulfide Market

Polyphenylene Sulfide Market Insights

"The global polyphenylene sulfide market was estimated at USD 1.12 billion in 2021 and is likely to grow at a CAGR of 8.88% during 2022-2028 to reach USD 2.05 billion in 2028."

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Introduction

Polyphenylene sulfide (PPS) is a high-performance, semi-crystalline engineering thermoplastic known for its exceptional thermal, chemical, and mechanical properties. It offers excellent resistance to heat, chemicals, and flame, making it ideal for demanding applications in automotive, electronics, and industrial sectors. PPS is inherently flame-retardant, dimensionally stable, and boasts superior electrical insulating properties. It is widely used in parts like automotive components, electronic connectors, and industrial filters, where durability and reliability under extreme conditions are crucial. With its ability to withstand high temperatures and corrosive environments, PPS continues to be a material of choice for advanced engineering and manufacturing applications.

Polyphenylene Sulfide Market Drivers

The market is driven by a host of factors, some of which are noted below:

• The leading factor contributing to the demand for polyphenylene sulfide is mainly its increasing usage in automotive components and the electrical & electronics industry, driven by its exceptional properties, such as chemical resistance, corrosion resistance, and easy moldability.
• The market is anticipated to rise as automakers increase their attempts to lighten vehicles and increase their fuel efficiency.

Key Players

The following are the key players in the polyphenylene sulfide market:

• DIC Corporation
• Fortron Industries LLC
• Initz Co. Ltd
• Kureha Corporation
• Solvay SA
• Tosoh Corporation
• Toray Industries Inc.

Note: The above list does not necessarily include all the top players in the market.

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Polyphenylene Sulfide Market Segments' Analysis

Application Insights

"Automotive segment accounted for the largest market share."?

The market is segmented as automotive, electrical & electronics, filter bags, aerospace, industrial, coatings, and others. The automotive segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. The wide use of polyphenylene sulfide in the automotive industry for manufacturing under-the-hood components, including engines and auto body parts operating under high temperature and pressure environments driving the growth of the segment.

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Regional Insights

"Asia-Pacific accounted for the largest market share."?

Asia-Pacific is expected to remain the largest market and held more than 50% of the share in 2021, with China, Japan, India, and South Korea being the major countries with enormous growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as automotive, electrical & electronics, aerospace, and others, which is generating huge demand for polyphenylene sulfide and the presence of many PPS manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Segment Analysis

Application Insights

"Automotive segment accounted for the largest market share."?

The market is segmented as automotive, electrical & electronics, filter bags, aerospace, industrial, coatings, and others. The automotive segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. The wide use of polyphenylene sulfide in the automotive industry for manufacturing under-the-hood components, including engines and auto body parts operating under high temperature and pressure environments driving the growth of the segment.

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Regional Insights

"Asia-Pacific held more than 50% of the share in 2021"

Asia-Pacific held more than 50% of the share in 2021, with China, Japan, India, and South Korea being the major countries with enormous growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as automotive, electrical & electronics, aerospace, and others, which is generating huge demand for polyphenylene sulfide and the presence of many PPS manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The polyphenylene sulfide market is segmented into the following categories:?

By Application Type

• Automotive 
• Electrical & Electronics 
• Filter Bags
• Aerospace 
• Industrial
• Coatings 
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s polyphenylene sulfide market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players based on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com