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Polyphenylene Sulfide (PPS) Resin Market - Growth, Trends, and Forecast (2020 - 2025)
The market is segmented on the basis of Type (Linear PPS, Cured PPS, and Branched PPS), End-user Industry (Automotive, Electrical and Electronics, Industrial, Aerospace, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)
- ABOUT THIS REPORT
- Market Snapshot
- Market Overview
- Scope of the Report
- Key Market Trends
- Competitive Landscape
- Major Players
- TABLE OF CONTENTS
Market Snapshot
Study Period:
2016-2025
Base Year:
2019
Fastest Growing Market:
Asia Pacific
Largest Market:
Asia Pacific
CAGR:
5 %
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Market Overview
The polyphenylene sulfide (PPS) resin market is expected to register a CAGR of around 5% during the forecast period. The primary factors driving the growth of the market studied arethe advantages PPS resin-based products offer over other thermoplastic resin-based products and metals.
- The adverse impact of COVID-19 on the global economy and the supply-chain is going to affect the PPS manufacturing industry, as well as the end-user industries consuming PPS resin.
- The automotive 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 light-weight vehicles across the world.
- The Asia-Pacific region dominated the PPS market over the forecast period.
Scope of the Report
The polyphenylene sulfide (PPS) resin market report includes:
| Type | |
| Linear PPS | |
| Cured PPS | |
| Branched PPS |
| End-user Industry | |
| Automotive | |
| Electrical and Electronics | |
| Industrial | |
| Aerospace | |
| Other End-user Industries |
| Geography | ||||||||
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| Middle-East and Africa |
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Key Market Trends
Liner PPS to Dominate the Market
- Adding sulfur in plastic molecule not only increases heat resistance but also facilitates molding and processing, which makes PPS a good material for replacing metal and thermosetting plastics.
- Linear PPS is a second-generation polymer compound known for its commercial ease of processing.
- The Molecular Weight of Linear PPS polymer is approximately double when compared to regular PPS. With increase in molecular chain length, the compound exhibits higher tenacity, better impact strength, and greater elongation, making it tougher, which allows it to be applied in a variety of processes from thin section injection molding to blow molding.
- Linear PPS also has low ionic impurities, which makes it useful to be applied to fuel cell parts as well as in fields, where heavy and durable electrical properties are required.
- Based on the aforementioned properties, Linear PPS polymer can be extruded, blow molded or compression molded into blocks, rods, and other shapes that are generally used for prototyping.
- Unfilled linear polymer is also used in melt spun and melt blown to produce fabrics and fibers that can be used for filtration media, flame-resistant clothes or conveyor belts.
- Linear PPS has no found solvent and in combination to high degree of whiteness, which enables coloring, the compound is facing growing interest from food and chemical industries.
- Linear polyphenylene sulfide (PPS) is used in production for a variety of automotive and industrial applications and for other application, such as drying belts in the papermaking, food and chemical industries and in environmental engineering, higher wield strength and performance allows it to be used as screws and press fitting.
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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, electrical and electronics, industrial, and aerospace.
- Asia, which is the largest automotive manufacturing hub, witnessed a decline of 6.4% in 2019. The major countries, like China, Japan, India, South Korea, Thailand, and Indonesia, registered negative growth in the production. This is majorly due to factors, like decline in domestic demand, increasing labor costs, and implementation of new vehicle norms (BS Stage 6 vehicles in India).
- However, the development of electric vehicles is expected to continue to gain momentum in the future, especially in China, where many government programs are promoting the move away from fossil fuels, owing to the various environmental concerns.
- 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.
- Polyphenylene sulfide (PPS) is replacing metals, alloys, thermosets, and some other thermoplastics in the engineering applications. Due to its thermal stability and chemical resistance, it is well-suited for applications in very hostile chemical environments.
- Hence, the aforementioned market trends are expected to drive the demand for PPS in the region, during the forecast period.
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Competitive Landscape
The global polyphenylene sulfide (PPS) resin market is highly consolidated in nature, with the top eight players accounting for approximately 98% of the global market. Some of the major market players include TORAY INDUSTRIES, INC., DIC Corporation, Celanese Corporation, Solvay, and NHU Materials Co., among others.
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Table Of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Technical Advancements in Electrical and Electronics Industry
4.1.2 Increasing Electric Vehicle Production
4.2 Restraints
4.2.1 Declining Automotive Production
4.2.2 Impact of COVID-19 Pandemic
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 Production Capacity Analysis
4.6 Price Analysis
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Linear PPS
5.1.2 Cured PPS
5.1.3 Branched PPS
5.2 End-user Industry
5.2.1 Automotive
5.2.2 Electrical and Electronics
5.2.3 Industrial
5.2.4 Aerospace
5.2.5 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 ASEAN Countries
5.3.1.6 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Rest of South America
5.3.5 Middle-East and 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 Celanese Corporation
6.4.2 DIC Corporation
6.4.3 Kolon Plastics Inc.
6.4.4 KUREHA CORPORATION
6.4.5 NHU Materials Co.
6.4.6 Polyplastics Co. Ltd
6.4.7 SABIC
6.4.8 SK Innovation
6.4.9 Solvay
6.4.10 TORAY INDUSTRIES, INC.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
*List Not Exhaustive
** Subject to Availability
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