Product Code: 48807
The polyphenylene sulfide (PPS) market is expected to register a CAGR of over 8.5% during the forecast period. The major factors driving the market's growth include increasing demand from the automotive sector, technical advancements in the electrical and electronics sector, and increasing consumption of filter bag applications. Furthermore, high cost of raw materials and increasing production costs, along with the presence of alternative substitutes are likely to hamper the growth of the market studied.
- The automotive and transportation segment dominated the market, and is likely to witness significant growth during the forecast period. This is primarily due to innovation and development, along with an increase in the production of vehicles across the world.
- The development of low-emission and eco-friendly PPS, growing healthcare sector in the Asia-Pacific region, and innovative product applications are likely to provide various growth during the forecast period.
- The Asia-Pacific region is expected to emerge as the largest market for PPS, primarily due to robust growth in the residential and commercial construction sector, along with a significant increase in the production of automotive and electronic products.
Key Market Trends
The Automotive and Transportation Industry is Projected to Drive the Market's Growth
- PPS is an organic polymer that consists of aromatic rings, which are linked with sulfides. It is a rigid and opaque material, and exhibits superior chemical and thermal resistance characteristics.
- Furthermore, it operates at a wide range of service temperatures (+196 up to +200/240°C). Its characteristics, such as resistance to weathering and fire, make it the primary choice for the automotive industry.
- In the automotive industry, PPS is used in carburetor parts, exhaust gas return valves, fuel lines, flow control valves for heating systems, ignition plates, heat exchange elements, pump rotors, cases, and reflectors.
- The automotive industry has been witnessing strong growth, in terms of, both, investment and production, especially in countries in the Asia-Pacific region, such as India, Indonesia, Malaysia, and Thailand.
- Moreover, regions, such as North America and Europe, have been investing in innovation and development of cars, by including efficient and environment friendly materials. Such practices are expected to drive the demand for PPS during the forecast period.
The Asia-Pacific Region is Projected to Dominate the Market
- Asia-Pacific region accounted for the largest market share, globally. The demand for PPS is mainly driven by the increasing demand from industries, such as automotive and transportation, construction, and electrical and electronics.
- The governments in countries, such as China, India, Indonesia, and Singapore, have been witnessing huge investments in the construction industry. This is likely to drive the demand for PPS.
- Currently, China has numerous airport construction projects, such as Beijing Capital International Airport, Chengdu Shuangliu International Airport, and Guangzhou Baiyun International Airport. These projects are under development or in the planning stage. Moreover, the Indian government is planning to build about 100 airports before 2032.
- The Indian government has an investment target of USD 120.5 billion, for developing 27 industrial clusters. This is expected to provide a boost to construction activities in the country. Similarly, the Indonesian government is planning to invest about USD 450 billion in the construction sector, by 2021.
- The Asia-Pacific region is witnessing numerous investments, primarily from the global automakers, like BMW, Hyundai Motors, and Honda. These companies are planning to venture into the Asia-Pacific automotive industry, primarily to increase production, while catering to the increasing demand for advanced automotive.
- Furthermore, China has the world's largest production base for electronics. Electronic products, such as smartphones, OLED TVs, tablets, wires, cables, and earphones, are recording the highest growth in the electronics sector. With an increase in the disposable income of the Chinese middle-class population, along with the increasing demand for electronic products, mainly from countries importing electronic products from China, the production of electronics has been increasing significantly, since the past few years.
- The Indian government is mainly focusing on the electronic sector's growth. Thus, it formulated various initiatives, such as a Phased Manufacturing Program (PMP), in order to add more smartphone components under the "Make in India" initiative. This is expected to drive domestic manufacturing of mobile handsets.
- Hence, the aforementioned market trends are expected to drive the demand for PPS in the region, during the forecast period.
The polyphenylene sulfide market is partially fragmented, where numerous players account for insignificant market share. This is impacting the market's dynamics. Some of the major market players include DIC Corporation, Celanese Corporation, Toray, Polyplastics Co. Ltd, SABIC Innovative Plastics, and PolyOne Corporation, among others.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Increasing Demand from the Automotive Industry
- 4.1.2 Technical Advancement in the Electrical and Electronics Industry
- 4.1.3 Increasing Consumption of Filter Bag Applications
- 4.2 Restraints
- 4.2.1 High Cost of Raw Materials, as well as High Production Costs
- 4.2.2 Presence of Alternative Substitutes
- 4.3 Industry Value Chain Analysis
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Patent Analysis
- 4.6 Price Trend Analysis
5 MARKET SEGMENTATION
- 5.1 Type
- 5.1.1 Linear PPS
- 5.1.2 Cross-linked PPS
- 5.2 End-user Industry
- 5.2.1 Automotive and Transportation
- 5.2.2 Electrical and Electronics
- 5.2.3 Construction
- 5.2.4 Industrial
- 5.2.5 Other End-user Industries
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 126.96.36.199 China
- 188.8.131.52 India
- 184.108.40.206 Japan
- 220.127.116.11 South Korea
- 18.104.22.168 Rest of Asia-Pacific
- 5.3.2 North America
- 22.214.171.124 United States
- 126.96.36.199 Canada
- 188.8.131.52 Mexico
- 5.3.3 Europe
- 184.108.40.206 Germany
- 220.127.116.11 United Kingdom
- 18.104.22.168 France
- 22.214.171.124 Italy
- 126.96.36.199 Rest of Europe
- 5.3.4 South America
- 188.8.131.52 Brazil
- 184.108.40.206 Argentina
- 220.127.116.11 Rest of South America
- 5.3.5 Middle East & Africa
- 18.104.22.168 Saudi Arabia
- 22.214.171.124 South Africa
- 126.96.36.199 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 A. Schulman Europe
- 6.4.2 Bada AG
- 6.4.3 Celanese Corporation
- 6.4.4 Chengdu Letian Plastics Co. Ltd
- 6.4.5 DIC Corporation
- 6.4.6 Kolon Plastics Inc.
- 6.4.7 Polyplastics Co. Ltd
- 6.4.8 RTP Company
- 6.4.9 SABIC
- 6.4.10 Solvay Speciality Polymers
- 6.4.11 Toray Industries, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Development of Low-emission and Eco-friendly PPS
- 7.2 Growing Healthcare Sector in the Asia-Pacific Region
- 7.3 Innovative Product Applications