The global polyphenylene sulfide (PPS) market is expected to reach USD
1.6 billion by 2022, according to a new report by Grand View Research, Inc.
Increasing demand in the manufacturing of various automotive parts including IC
regulator & rectifier, coolant circuit, brakes, fuel pump parts, actuators,
motor insulators, and gaskets will augment industry size over the forecast
period.
 |
| North America PPS market volume by application, 2012 - 2022 (Tons) |
Growing automotive sector primarily in China, India, Mexico and the U.S.
on account of favorable government policies along with presence of big players
in the market is expected to drive demand. Volatility in raw material prices
may challenge industry growth over the next seven years.
Technological advancements for the development of eco-friendly,
inexpensive, and low VOCs products along with addition of new production
capacities by prominent players including DIC and Toray is further expected to
open new market opportunities over the next seven years.
In depth research report on Polyphenylene Sulfide (PPS) Market
Further key findings from the report suggest:
Grand View Research has segmented the global polyphenylene sulfide (PPS)
market on the basis of application and region:
·
Global polyphenylene sulfide (PPS) market demand was over
80,000.0 tons in 2014 and is expected to reach above 140,000.0 tons by 2022,
growing at a CAGR of 7.3% from 2015 to 2022.
·
Automotive application was valued over USD 250 million in
2014 and will witness substantial rise in light of increasing automobile
industry in the U.S., Mexico, India and China. High demand for various products
including seat frames, ducting, panels, brackets, ribs and fasteners will fuel
growth.
·
North America accounted for over 20% of the global volume
in 2014 and is expected to witness significant growth over the next seven years
on account of growing automotive and aerospace sector in the region. Rising
automotive production mainly in Mexico along with leading automobile companies
including Nissan, Honda Motors and Mazda will spur industry expansion.
·
Key industry players include Toray Industries, SK
Chemicals, Celanese Corporation Lumena, DIC, Solvay, Tosoh Corporation, Lion
Idemitsu Composites Co. Ltd, NHU, Kureha Corporation and SABIC. Various
companies are involved in continuous R&D and ongoing product development to
enhance properties of PPS.
·
In September 2014, Solvay signed an agreement to purchase
Ryton PPS business from Chevron Phillips Chemical Company for USD 220 million
in order to expand its high-performance polymers products and strengthen
business presence. The company is
expected to purchase PPS resin manufacturing units in Borger, Texas;
Bartlesville, Oklahoma, and Kallo-Beveren, Belgium.
Global PPS Application
Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
·
Automotive
·
Electronics & Electrical
·
Industrial
·
Coatings
·
Others
Global PPS Regional
Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
·
North America
·
U.S.
·
Europe
·
Germany
·
Asia Pacific
·
Japan
·
China
·
RoW
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more market analysis
reports, please visit: http://www.grandviewresearch.com/
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