Market Size of Polyarylsulfone Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Polyarylsulfone Market Analysis
The polyarylsulfone market is estimated at USD 2,251 million currently and is expected to reach USD 3,027 million over the forecast period, registering a CAGR of around 6% during the forecast period.
Due to the COVID-19 outbreak, nationwide lockdowns worldwide, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
- The major factor driving the market studied is the growing demand for polyarylsulfone from the automotive industry.
- On the flip side, stringent regulations on the hazardous nature of raw materials and unfavorable conditions due to the COVID-19 outbreak are hindering market growth.
- The growing demand for polyarylsulfone as a membrane in water treatment facilities is forecasted to offer various opportunities for market growth over the forecast period.
- Asia-Pacific region represents the largest market and is expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, Japan, and South Korea.
