Market Size of Polyphenylene Sulfide (PPS) Resin Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players_Resin_Market_-_Key_Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Polyphenylene Sulfide (PPS) Resin Market Analysis
The Polyphenylene Sulfide (PPS) resin market is expected to register a CAGR of around 5% during the forecast period.
COVID-19 negatively impacted the market as all the industries put their manufacturing processes on halt. The unfavorable conditions arising from the pandemic resulted in low demand for automotives, which resulted in the negative growth of the PPS resins market during the forecast period. However, the market is anticipated to retain its growth trajectory in 2022 due to the resumed production processes of all industries.
- The primary factors driving the growth of the market studied are the advantage of PPS resin-based products over other thermoplastic resin-based products and metals and the increased demand for PPS resins in automotive and electronic applications.
- The high cost associated with PPS resins acts as a restraint in the growth of the market.
- Rapid production of lightweight electric vehicles is creating a lucrative opportunity for the PPS resin market to grow shortly.
- The Asia-Pacific region dominated the PPS market over the forecast period due to the rising automotive industry in the countries such as India, China, and others.
