Fact.MR report tracks the polyphenylene sulfide (PPS) resins market for the period 2019-2027. According to the report, the polyphenylene sulfide (PPS) resins market is projected to grow at 6.1% CAGR through 2027. Polyphenylene sulfide (PPS) resins consumption is likely to surpass 93.7 thousand tons in 2019, according to Fact.MR’s new study. The polyphenylene sulfide (PPS) resins market grew at a 5.3% in 2018, with overall growth driven by,
- Exponentially rising demand in the automotive industry
- Major production capacity expansion projects by prominent players
- Introduction of new grades of polyphenylene sulfide (PPS) resins
- Indispensable role of polyphenylene sulfide (PPS) in multiple demanding applications
Engineering thermoplastic polymers have acquired a special position across industries owing to their unique functionalities that accommodate current demand for recyclability and sustainability. Polyphenylene sulfide (PPS) fits well in this demand wherein the polymer has replaced metal and other thermosets considerably in multiple applications.
Each segment of the polyphenylene sulfide resins market has been individually analyzed on the basis of pricing, distribution, and demand prospect for the following regions:
- North America (Canada, US)
- Latin America (Argentina, Mexico)
- Europe (NORDIC, UK)
- APEJ (China, India)
- Japan and MEA
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Polyphenylene sulfide (PPS) resins demand has skyrocketed in past decades, majorly due to buoyancy in the automotive industry post the great recession of 2008. Fact.MR study estimates that the automotive industry registered nearly 49% of the global polyphenylene sulfide (PPS) resin consumption in 2018. The industry will continue to present significant demand for polyphenylene sulfide (PPS) resin in the future.
Industrial Application of PPS Resins to Grow at 6.8% in 2019
Fact.MR shows that consumption of polyphenylene sulfide (PPS) resins in industrial applications is projected to rise rapidly. PPS resins have, to a greater extent, replaced metal alloys, multiple thermoplastics and thermosets in mechanical engineering applications. Introduction of new grades of polyphenylene sulfide (PPS) resins for specific industrial applications is likely to boost the demand for PPS resin in the coming years.
Greater China Consumed 40% of the Global Polyphenylene Sulfide (PPS) Resins in 2018
According to the study, APEJ accounted for nearly 45% of the global polyphenylene sulfide (PPS) resins in 2018. Major consumption remains consolidated in Greater China which accounted for about 40% of the global PPS resin demand in 2018.
China with its largest coal fleet as well as largest number of heavy capacity coal plants present significant demand for PPS filter bags, thereby accounting for a considerable demand for PPS resins. As one of the leading CO2 emitter and coal consumer, China is likely to take efforts in mitigating climate issues in the future, thereby presenting lucrative opportunities for polyphenylene sulfide (PPS) resins in the future.