Polyphenylene Sulfide (PPS) Market Size – USD 1.14 Billion in 2018, Market Growth - CAGR of 8.0%, Market Trends – High demand in automotive and electrical industries.
New York, NY -- (SBWIRE) -- 01/14/2021 -- The increasing demand for PPS is mainly due to its physical properties. It has great dimensional stability, strong chemical resistance, good electrical properties, thermal stability, and is flame retardant. Due to these properties, it is utilised in several industries such as automotive, electrical & electronics, coatings, filtration, and various industrial applications. The key market players have manufactured and developed electrical insulation, capacitors, filtration media, subway insulators, and bridges.
This report covers the recent COVID-19 incidence and its impact on Polyphenylene Sulfide (PPS) Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
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Scope of the Report:
The report underlines the market trends drawn after the assessment of the past data gathered from 2020 and 2017 and performs a comprehensive study of the trends in the sector to derive market insights and calculate the CAGR that can be expected in the forecast years. The report also scrutinizes the financial performance, novel technologies, and strategic expansion undertaken by the company, which includes mergers and acquisitions and collaborations. The study also outlines the technological advancements in the sector, especially those credited to top companies in the industry. The report categorizes the industry by inspecting the competitive landscape in the global setting and individually profiling key players and new entrants engaged in the sector.
The Global Polyphenylene Sulfide (PPS) Market is expected to reach USD 2.17 Billion in 2026. PPS is used in areas of automotive such as engine components, switches, coolants system, transmission, and piston. The expansion of automotive sectors will influence the demand in emerging countries such as Indonesia, China, Mexico, Japan, South Korea, Taiwan, and Malaysia.
In market segmentation by manufacturers, the report covers the following companies :- DIC Corporation, Solvay S.A., Lion Idemitsu Composites Co. Ltd., Kureha Corporation, Tosoh Corporation, Fortron Industries LLC, Medacta, CONMED, Kinamed Inc., and ConforMIS among others.
Key players functioning in the food and beverage industry are also resorting to inventive methods to extend their consumer base. Fifty-nine percent of survey takers revealed that they use various platforms like online networking and digital advertising to reach an extensive range of customers. Today, consumers across the globe are able to tap the most innovative products available in the regional market. Digital media and social networking platforms have proven effective for companies attempting to broaden their reach in a way that is non-intrusive yet persuasive customers to consider regular purchases. With the increasing integration of social media in consumers' daily lives and the ever-expanding virtual marketplace, the Polyphenylene Sulfide (PPS) industry has witnessed the growth of several profitable growth opportunities and paving the way for more product innovation.
Type Outlook (Revenue, USD Billion; 2020-2027)
Recyclability Outlook (Revenue, USD Billion; 2020-2027)
Application Outlook (Revenue, USD Billion; 2020-2027)
Electrical & Electronics
End Users Outlook (Revenue, USD Billion; 2020-2027)
Aerospace and Defense
Construction and Buildings
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Global Competitive Landscape:
The key participants that control a considerable portion of the Polyphenylene Sulfide (PPS) Market are actively employing the resources at their disposal to bring about long-standing development changes. The global industry is undergoing considerable transformation, accelerating the growth of the overall market. The available growth opportunities for the sector can be capitalized on through on-going process improvements and keeping up with the economic volatility to dedicate resources to promising expansion plans.
North America is expected to grow with the highest CAGR of 9.0% during the forecast period. The U.S. accounted for the largest market for passenger cars in 2018, and it increased the demand for PPS in the country. The expansion of automobile industry in China will create a surplus of the product thus increasing the demand-supply gap hence affecting the growth of the market. Europe is expected to account for a market share of 22% during the year 2026. Growth and development of the automobile industry in Germany are propelling the market in this country.
An extensive study of the product application and services conducted by subject matter experts assessing the Polyphenylene Sulfide (PPS) Market will help product owners to make a wise decision. From analysing which products companies should produce, expand to how brands should position their product the study covers all that business owners require meeting the buyers' requirement.
Key point summary:
Consumers expect the Polyphenylene Sulfide (PPS) industry to continue to grow at a rapid pace
Quality is a crucial aspect of brand loyalty
Drivers boosting Polyphenylene Sulfide (PPS) Market growth include supply chain and raw material sourcing, advertising, the aesthetic appeal of products, technology, retail outlets, increase of digital retailers, and the brick-and-mortar establishment by online retailers
There is a high demand from consumers for innovative products, clean labels, naturally-sourced ingredients, sustainability, and a wider range of products.
Respondents are attempting better approaches to reach customers, with an emphasis on advertising and social media
Most food and beverage companies profiled in the study currently sell less than 20 percent of their products through an online platform
Operational inefficiency, which is dependent on factors like employee and production capacity, can be a hurdle for technological advancements and other innovations
A lot about, the past and latest trends gaining momentum and shaping the future of the Polyphenylene Sulfide (PPS) Market is discussed. Assessment of major vendors incorporating state-of-the-art technology further enlightens business owners about the new means, medium and channels to enhance their product portfolio stay competitive in the Polyphenylene Sulfide (PPS) Market for the forecast period, 2020- 2027. For more granularity, the researchers behind the study take a closer look at the key driving forces, restraints, and opportunities responsible for determining the future of the Polyphenylene Sulfide (PPS) Market, for the forecast period 2020- 2027.
The research provides answers to the following key questions:
What will be the market size and growth rate of the Polyphenylene Sulfide (PPS) Market for the forecast period 2020- 2027 across different regions?
What are the key driving forces expected to shape the future of the industry worldwide?
What strategies are the prominent vendors adapting to stay ahead of their competitors?
Which major trends are impacting the development of the Polyphenylene Sulfide (PPS) Market Worldwide?
Which factors can hinder, challenge or even restrict the expansion of the Polyphenylene Sulfide (PPS) Market worldwide?
What are the opportunities or future prospect for the business owners operating in the market for the forecast period, 2020- 2027?
The growth of this Polyphenylene Sulfide (PPS) Market across the globe is dependent on multiple factors; including consumer base of several Polyphenylene Sulfide (PPS) products, inorganic growth models adopted by companies, price volatility of feedstocks, and product innovation, along with their economic prospects in both producer and consumer nations.
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Overall, this report provides a clear view of every vital factor of the market without the need to refer to any other research reports or data sources. Our report will equip you with all the strategically vital facts about the past, present, and future of the market.