Transparency Market Research has published a new research report “Sulfone Polymers Market - Global Industry Analysis, Growth, Trends, Forecast 2016 – 2024” to their report store.
Albany, NY -- (SBWIRE) -- 04/06/2017 -- The global sulfone polymers market is fairly consolidated, with the top two vendors accounting for approximately 80% of the market in 2015. Transparency Market Research (TMR) notes that these leading companies – Solvay S.A. and BASF SE – are actively developing a strong supply chain and increasing their production capacities to consolidate their market shares in various regions. New entrants and emerging players intending to get a stronghold in the market are focusing on process optimizations and making significant investments in expanding their production units. Furthermore, top vendors seeking to capitalize on lucrative market avenues are making agreements and partnerships with leading distributors to consolidate their supply chain.
According to findings by TMR, the valuation of the global sulfone polymer market was estimated at US$805.4 mn in 2015 and is anticipated to reach US$1,394.7 mn by 2024, rising at a CAGR of 6.4% during 2016 - 2024.
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In terms of geography, the global market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa (MEA), and Latin America; of these, currently North America leads the market. The regional market occupied a major share of 39.40% in 2015, measured in terms of revenue. The share of the regional market is expected to remain robust in the next few years as well. The growth in the regional market is mainly attributed to the growing popularity of the use of sulfone polymers in making a variety of medical devices and its increased demand in the automotive sector in different countries of North America. Resurgence of the automotive market in the U.S. has spurred the demand for various formulations of sulfone polymers.
In terms of product, the market is segmented into polysulfone (PSU), polyethersulfone (PESU), and polyphenylsulfone (PPSU). Of these, the PSU segment occupied a major market share and accounted for 41.1% in 2015. The widespread demand for PPSU is propelled by its application in making a large number of medical devices due to favorable mechanical properties and the capability to withstand repeated sterilization.
Accelerated Consumption Worldwide to Drive Growth of PSU and PESU Segments
Of all amorphous thermoplastics, polysulfone (PSU) and polyethersulfone (PESU) exhibit a unique set of chemical and physical properties that include high mechanical strength, high dimensional stability, light weight, marked resistance to ageing at high temperatures, high transparency, and remarkable resistance to hydrolysis. Their amazing property range leads to several applications such as making a variety of automotive parts, medical devices, and a large number of household applications.
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Sulfone polymers being resistant to fuel and lubricants are used in making various automotive parts such as transmission components, valves, bezels, and reflectors. The unique characteristics, coupled with soaring quality demands in various industries, have triggered the growth of the market. Furthermore, emerging applications of the thermoplastic in aircrafts and its wide use in the electrical and electronics sector are expected to create ample growth opportunities for the market players.
High Regulatory Requirements and Cost Constraints are Key Impediments of Growth
In spite of the rapid evolution of the market, the increasing applications of sulfone polymers in different end-use industries must conform to numerous regulatory norms. Delay in regulatory approvals may severely restrain the use of the thermoplastic in medical implants, medical devices, and aircrafts. Healthcare regulatory bodies and other critics warn that there may be significant leakage of bisphenol monomers, present in sulfone polymers, onto the food items, which may hamper its demand for making baby food products; the ingestion of bisphenol monomers significantly affects the endocrine system. In addition, the high cost associated with the production process of different sulfone polymers may put significant pressure on emerging companies setting up production units.
The global sulfone polymers market is segmented into:
- Consumer Goods
- Electrical & Electronics
The study presented here is based on a report by Transparency Market Research (TMR) titled "Sulfone Polymers Market (Product/Grade - Polysulfone (PSU), Polyethersulfone (PESU), and Polyphenylsulfone (PPSU); Application - Medical, Automotive, Aerospace, Consumer Goods, Electrical and Electronics, Industrial, Membrane, Military, and Plumbing) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."