Dublin, June 20, 2019 (GLOBE NEWSWIRE) -- The "Outlook on the World Polyphenylene Sulfide (PPS) Market to 2024" report has been added to ResearchAndMarkets.com's offering.
The polyphenylene sulfide (PPS) is expected to grow at a CAGR of around 8.6% during the forecast period of 2019-2024.
The major factors driving the growth of market studied are growing demand from the automotive sector, technical advancement in the electrical & electronics sector, and increasing consumption for filter bag applications. On the flipside, high raw materials & high production cost, and presence of alternative substitutes are likely to hamper the growth of the studied market.
Key Highlights
- Automotive & transportation segment dominated the market in 2018 and is likely to grow during the forecast period, with increasing innovation & development, and production of vehicles across the globe.
- The development of low-emission and eco-friendly PPS, growing healthcare sector in Asia-Pacific, and innovative product applications are likely to provide opportunities for the studied market during the forecast period.
- Asia-Pacific dominated the market across the globe, with the robust growth in residential & commercial construction, and increasing automotive & electronic production in the region.
Major Market Trends
Automotive & Transportation Segment to Dominate Market Demand
- PPS is an organic polymer consisting of aromatic rings linked with sulfides. It is a rigid and opaque material that exhibits superior chemical and thermal resistance characteristics.
- Besides, broad range of service temperatures (+196 up to +200/240C), weathering resistance, and fire resistance further makes it widely suitable for automotive industry.
- In the automotive sector, PPS find application in carburetor parts, exhaust gas return valves, fuel lines, flow control valves for heating systems, ignition plates, heat exchange elements, pump rotors, cases, and reflectors.
- The automotive industry has been witnessing strong growth in investment and production in Asia-Pacific countries, such as India, Indonesia, Malaysia, and Thailand.
- Besides, regions, such as North America and Europe have been investing on innovation & development of cars with efficient and more environment friendly materials. Such practices in the automotive industry are further expected to drive the demand for PPS in these regions during the forecast period.
Asia-Pacific to Dominate the Global Market
- Asia-Pacific region dominated the global market share in 2018. The demand for PPS is driven by the growing demand from industries, such as automotive & transportation, construction, and electrical & electronics.
- The governments in countries, such as China, India, Indonesia, and Singapore have been witnessing huge investments in the construction industry, which is likely to increase demand for PPS in such countries.
- China currently has numerous airport construction projects, such as Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, under development or planning stage. India also have plans to build about 100 airports before 2032.
- Besides, Indian government has an investment target of USD 120.5 billion for developing 27 industrial clusters, which is expected to boost construction in the country. Similarly Indonesian government planned to invest in construction sector about USD 450 billion by 2021.
- Asia-Pacific is also witnessing numerous investments by the global automakers, like BMW, Hyundai Motors, and Honda into the automotive industry to increase production, and cater to the increasing automotive demand of the masses in the region.
- Besides, China has the world's largest electronics production base. Electronic products, such as smartphones, OLED TVs, tablets, wires, cables, earphones, and so on, have the highest growth in the electronics segment. With increase in the disposable income of middle-class population in the country, and increasing demand for electronic products in the countries importing electronic products from China, the production of electronics has been increasing.
- In India, the government has also been pushing the growth of electronic industry through initiatives, such as a Phased Manufacturing Programme (PMP) to add more smartphone components under the Make in India initiative in order to push the domestic manufacturing of mobile handsets.
- Hence, all such favorable market trend is expected to drive the demand for PPS in the region during the forecast period.
Competitive Landscape
The polyphenylene sulfide market is a partially fragmented market, where numerous players holds insignificant share of the market demand to affect the market dynamics individually. Some of the noticeable players in the market include DIC Corporation, Celanese Corporation, Toray, Polyplastics Co, SABIC Innovative Plastics, and PolyOne Corporation, amongst others.
Topics Covered
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand from the Automotive sector
4.1.2 Technical Advancement in the Electrical and Electronics Sector
4.1.3 Increasing Consumption for Filter Bag Applications
4.2 Restraints
4.2.1 High Cost of Raw Materials and High Production Cost
4.2.2 Presence of Alternative Substitutes
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
4.5 Patent Analysis
4.6 Price Trend Analysis
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Linear PPS
5.1.2 Cross-linked PPS
5.2 End-user Industry
5.2.1 Automotive & Transportation
5.2.2 Electrical & Electronics
5.2.3 Construction
5.2.4 Industrial
5.2.5 Others
5.3 Geography
5.3.1 Asia-Pacific
5.3.2 North America
5.3.3 Europe
5.3.4 South America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & 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 DIC Corporation
6.4.2 Solvay Speciality Polymers
6.4.3 A. Schulman Europe
6.4.4 Asia International Enterprise (Hong Kong) Limited
6.4.5 Bada AG
6.4.6 BARLOG Plastics GmbH
6.4.7 Celanese Corporation
6.4.8 Chengdu Letian Plastics Co. Ltd.
6.4.9 Guangdong Shunde Hones Polymer Material Co. Ltd.
6.4.10 Kolon Plastics Inc.
6.4.11 PolyOne Corporation
6.4.12 Polyplastics Co. Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Development of Low-emission & Eco-friendly PPS
7.2 Growing Healthcare Sector in Asia-Pacific
7.3 Innovative Product Applications
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Related Topics: Engineering Plastics