Polyphenylene Sulfide Market Trend & Forecast | 2022-28

Market Insights

The 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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What is polyphenylene sulfide?

Polyphenylene Sulfide is a high-performance thermoplastic having exceptional properties such as easy moldability, flame retardancy, and chemical resistance, and it can also be employed over a wide range of temperatures.

Market Dynamics

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.

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Key Players

Some of the major manufacturers are-

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

Segment Analysis

By Application Type

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.

Regional Insights

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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Market Segmentation 

This report studies the market covering a period of 12 years of trend and forecast and it 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 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)

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Research Methodology

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 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

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

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Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the application types by Region.  

Competitive Benchmarking

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

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