Pune, India -- (SBWIRE) -- 02/10/2016 -- The report "Polyphenylene Sulfide Market by Application (Automotive, Electrical & Electronics, Filter Bags, Aerospace, Industrial, Coatings, and Others) and by Region (Asia-Pacific, North America, Europe, and Row) - Global Forecast to 2020", The global Polyphenylene Sulfide (PPS) market size is estimated to grow from USD 995.1 Million in 2015 to USD 1,574.7 Million by 2020, at a CAGR of 9.6%.

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The market is driven by increasing demand for PPS in emerging markets and high demand from the automotive, electrical & electronics, and filter bag application segments. Among all the regions, Asia-Pacific is projected to witness strong growth in the next five years. Growth in this region can be attributed to high demand from emerging markets such as China and India.

Automotive and filter bags, the largest applications of PPS

The growing popularity of PPS over metals and conventional polymers in various applications play a significant role in driving the market. Automotive, electrical & electronics, and filter bags are the most its important applications. A normal gasoline automotive requires nearly 1 kg of PPS, whereas hybrid and electric automotive require nearly 5 kegs of PPS, which is used as a metal replacement. PPS helps decrease the weight of automotive, which enhances the efficiency. Globally, 15 governments have joined forces for encouraging the use of electric and hybrid vehicles, thus driving the PPS market. The PPS filter bags industry is seeing high growth in Asia-Pacific, with increasing consumption in coal power plants and stringent regulations set for controlling the release of particulate matter in China. The PPS filter bags market is likely to have high growth potential during the forecast period, as these filter bags have an efficiency of more than 99%.

Rising demand in Asia-Pacific is the major driver for growth of PPS market

In 2015, Asia-Pacific is estimated to account for the largest market share in terms of volume. Robust demand in Asia-Pacific and increasing consumption for PPS filter bags shall be the major driving factors for the global PPS market during the forecast period. China is one of the leading consumers of PPS worldwide with increased demand from the filter bags application.

The players profiled in the PPS market report are DIC Corp. (Japan), Tosoh Corp. (Japan), Toray Industries Inc. (Japan), Kureha Corp. (Japan), Solvay SA (Belgium), Fortran Industries LLC (U.S.), China Lumena New Materials Corp. (China), Initz Co. Ltd (South Korea), Zhejiang NHU Special Materials (China), and Lion Idemitsu Composites Co. Ltd. (Japan).

The scope of the report covers detailed information regarding the major factors influencing the growth of the PPS market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, investments & expansions, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the market.

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