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Polyphenylene Sulfide (PPS) Resins Market

Polyphenylene Sulfide (PPS) Resins Market to Grow 1.9X by 2031 on the Back of Myriad Applications in Automobiles, Evaluates Fact.MR

Published : 19 Nov 2021 Industry: Chemical & Materials

Technological advancements such as introduction of newer grades of polyphenylene sulfide (PPS) and innovations in manufacturing processes are aiding demand for enhanced and compatible polyphenylene sulfide resins. The global polyphenylene sulfide resins market is forecast to surpass US$ 2.1 Bn by 2031, reveals Fact.MR, in a recently published report.

Notable advancements such as high consumption of PPS in hybrid electric vehicles and molding of chlorine-free electronic devices is giving traction to the PPS market. Other bundled applications of PPS in industrial coatings and filtration are likely to propel market growth.

The market is poised to reflect a positive growth of around 6% CAGR for these sectors. Automotive would be the dominant application of PPS resins, states Fact.MR, a market research and competitive intelligence provider.

Key Takeaways from Market Study

  • Global polyphenylene sulfide resins market is expected to create a value opportunity of around US$ 950 Mn over the forecast period of 2021 to 2031.
  • Use of PPS resins in the automobile industry as a replacement of metals will generate 2.8X revenue by the end of 2031.
  • Demand for polyphenylene sulfide resins for aerospace and defence applications is set to add 2X value by 2031.
  • Asia Pacific except Japan (APEJ) is expected to maintain its reign in terms of demand, accounting for more than 50% of global PPS resin demand.
  • Polyphenylene sulfide resin production in North America and Japan is in the state of overproduction, and thus, manufacturers from these regions are targeting growth opportunities in countries such as China, which is consuming around 88% of total PPS resins in the APEJ region.
  • The global market is highly consolidated, with Solvay SA, Toray Industries Inc., DIC Corporation, and Fortron Industries LLC among the top players in the market.

“Use of PPS resins in automotive applications will emerge as a significant revenue stream for market players. Growing demand for lightweight, high-performance plastics for specialized applications that require a combination of extraordinary properties and high efficiency will strengthen demand for PPS resins,” says a Fact.MR analyst.

Players Eying Expansion Opportunities to Hold Market Share

Fierce competition amongst key market players has led to several capacity expansions in the last few years. Matured markets of the U.S. and Japan have forced players to shift manufacturing facilities to other countries.

Further, owing to global overcapacity, the market will continue to remain highly competitive. However, it is expected that key stakeholders will adjust production capacity and exert price discipline to avoid significant price erosion from their margins.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the polyphenylene sulfide (PPS) resins market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of application (electrical & electronics, automotive, aerospace & defense, industrial, filters & filter bags, coatings, and others), across six major regions of the world.

About the Chemicals and Materials Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations – the Chemicals & Materials team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the Chemical & Materials industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to us to know how we can help.

For more information, refer to our market research report or contact the PR author.

Yash Pathak

Fact.MR

Sr. Consultant – Chemicals and Materials

E-mail: yash@factmr.com

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Polyphenylene Sulfide (PPS) Resins Market Size, Share Analysis by Application (Electrical & Electronics, Automotive, Aerospace & Defence, Industrial, Filters & Filter Bag) & Regional Forecast 2021-2031