The global market size for Polyphenylene Sulphide (PPS) Market is expected to hit USD 2.34 billion.
New York, NY -- (SBWIRE) -- 01/15/2021 -- High-temperature performance and chemical resistance properties of Polyphenylene Sulfide (PPS) are forecast to fuel the market demand.
Market Size – USD 1.23 Billion in 2019, Market Growth - CAGR of 8.0%, Market Trends – High demand in automotive and electrical industries.
By 2027, the global market size for Polyphenylene Sulphide (PPS) Market is expected to hit USD 2.34 billion. In the manufacturing of various electronic components, such as connectors, micro switches, coil formers, HDD actuators, circuit breakers, relay components, brush holders, bobbins, engine casing, parts of the thermostat, and many other items, PPS is used. PPS demand will be increased by the increasing demand for these products. As a result of growing applications from sectors such as electronics, automotive, aerospace and industry, the market is expected to witness an increase in demand. Owing to its excellent performance and mechanical characteristics, the product is used in high-temperature applications.
The commodity is entirely recyclable; it decreases the level of emissions and improves the fuel economy. It is predicted that all these factors will drive the market. Owing to its weight reduction, it is also more favored over metals. The use of PPS in coal-fired power plants in the form of filter bags is expected to increase the demand. In countries such as China, India, and Brazil, the need for low emissions, higher fuel efficiency, and a reduction in vehicle weight would expand the automotive industry demand for PPS.
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Further key findings from the report suggest
The Linear PPS sub-segment is expected to expand over the forecast period, with an annual growth rate of around 7.7%. In the year 2019, cross-linked PPS held a 57% market share.
In the year 2019, virgin PPS held a 51% market share. The worldwide decrease in the price of virgin PPS would raise its demand.
Environmental considerations and cost savings motivate producers to use recycled PPS, but the demand for virgin PPS will be propelled by the introduction of environmental legislation on its use.
In fuel systems components, power trains, braking system, transmission, and engine components, PPS is used. It is expected that the automotive industry will hold a market share of 17% by 2027.
Due to the rise in demand for commercial flying, aerospace and defense segment held a market share of about 19% in the year 2019.
In the year 2019, the filter bags sub-segment held a 19% market share. The product is used in filter and filter bags in incinerators and coal-fired powered fire stations used in dust chamber filters.
PPS coatings are applied on cold or hot surfaces, such as slurry coating, fluidized bed coating, and powder flocking, using methods such as electrostatic coating. The application of PPS coatings is limited by wide surfaces, as they cannot be housed in the oven.
Quick industrialization and urbanization are driving the polyphenylene sulphide (PPS) market in automotive applications in the APAC region. Due to the fact that China and Japan are the leading polyphenylene sulphide (PPS) market, Asia Pacific has the largest market share of 36% in the year 2019.
Key participants include Solvay S.A., DIC Corporation, Lion Idemitsu Composites Co. Ltd., Tosoh Corporation, Kureha Corporation, Fortron Industries LLC, CONMED, Medacta, Kinamed Inc., and ConforMIS, among others.
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For the purpose of this report, the Global Polyphenylene Sulfide (PPS) Market is segmented on the basis of type, recyclability, application, end-user, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Linear PPS, Cross-Linked PPS
Recyclability Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Automotive, Electrical & Electronics, Industrial, Filter Bags, Aerospace, Coatings, Others
End-User Outlook (Revenue, USD Billion; 2017-2027)
Healthcare, Automobiles, Textiles, Aerospace and Defense, Business Equipment, Construction and Buildings, Engineering Equipment
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Table Of Contents:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Polyphenylene Sulfide (PPS) Market Segmentation & Impact Analysis
Chapter 5. Polyphenylene Sulfide (PPS) Market, By Type Insights & Trends
Chapter 6. Polyphenylene Sulfide (PPS) Market, By Application Insights & Trends
Chapter 7. Polyphenylene Sulfide (PPS) Market, By End Use Insights & Trends
Chapter 8. Polyphenylene Sulfide (PPS) Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
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