NEW YORK, Nov. 23, 2021
- Polyphenylene Sulfide Resins Demand for Automotive Applications to Grow, Accounting for Over 45% Sales in 2021
- A recent study by Fact.MR on polyphenylene sulfide (PPS) resins market offers 10-year forecast for 2021 and 2031. It analyzes crucial trends and emerging opportunities that are currently determining the market growth. To present the information in a comprehensive manner, the report has been segregated into various segments in terms of application.
NEW YORK, Nov. 23, 2021 /PRNewswire/ -- As per latest Fact.MR analysis, the global polyphenylene sulfide (PPS) resins market is projected to reach around US$ 2.2 Bn by 2031. With increasing consumption of PPS resins, the overall market is set to expand at 6.7% CAGR between 2021 and 2031, surpassing a volume of 199 KT by the end of 2031.
Sales of polyphenylene sulfide (PPS) resins is expected to increase owing to the rising application within diverse end-use industries such as automotive, electric & electronics and coatings.
PPS resin is a crystalline high-performance thermoplastic polymer characterized by superior heat resistance, exceptional dimensional stability, and enhanced chemical resistance. Growing application of PPS resins in various industries, such as precise electronics, chemical containers, aerospace components and electrical devices will also boost the market.
PPS resins are ideal for applications which require heat resistance, light weight, and high strength. Hence, they are replacing metal and other thermosets in numerous applications and thereby, aiding the growth in the market.
Rising adoption of PPS blends and composites is gaining immense traction. Manufacturers are increasingly adding different substances to PPS resins for improving their physical and chemical properties.
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As per Fact.MR, sales of PPS resins in automotive application will account for around 45% of revenue share in 2021. As they are commonly used in interior and exterior automotive plastic molding applications, demand is expected to surge in automotive sector.
Regionally, Asia Pacific excluding Japan (APEJ) is projected to hold around 45% share of global polyphenylene sulfide resin revenue share. Growth in the region is attributed to the expansion of automotive industry, presence of leading players, and favourable government policies regarding the use of PPS filter bags in coal thermal plants.
"Rising demand for lightweight and high-performance plastics in a wide range of applications is projected to create lucrative growth avenues for the market. Hence, in order to capitalize on the existing trend, leading manufacturers are blending PPS resins with other thermoplastics to enhance its physical and chemicals properties," says a Fact.MR analyst.
Key Takeaways from Polyphenylene Sulfide (PPS) Resins Market Survey
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Leading players operating in the polyphenylene sulfide (PPS) resins market have adopted various strategies such as capacity expansion, advanced product development, mergers, partnerships, and acquisitions to gain competitive edge in the market.
Some of the prominent players operating in the polyphenylene sulfide (PPS) resins market profiled by Fact.MR are:
More Insights on the Global Polyphenylene Sulfide (PPS) Resins Sales Outlook
Fact.MR provides an unbiased analysis of polyphenylene sulfide (PPS) resins market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for polyphenylene sulfide (PPS) resins with a detailed segmentation on the basis of:
Key Questions Covered in the Polyphenylene Sulfide (PPS) Resins Market Outlook Report
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