Global Polyphenylene Sulfide (PPS) Market is Expected to Grow at a CAGR of over 10% from 2013 to 2020
San Francisco, California (PRWEB) January 29, 2014
The global market volume for Polyphenylene Sulfide (PPS) is expected to be over 170 kilo tons by 2020, according to a new study by Grand View Research, Inc. Growth in global automotive industry; particularly in China is expected to drive the demand for PPS. In addition, the favorable regulatory scenario in China with regards to the automotive industry is expected to further augment the demand for PPS over the forecast period. Grand View Research further observes the growing use of PPS in filter bags, which are used in coal boilers and dust chamber filters. PPS is the preferred thermoplastic for filters bags due to the superior chemical resistance and longer service life.
Automotive and Filter bags were the largest end-use segments for PPS in 2012, together accounting for over 50% of global demand. PPS is used in a variety of automobile components whose functionality includes resistance to fuel, transmission and brake fluids at high temperature and antifreeze. PPS coatings accounted for a small percentage of the market in 2012 due to the limitation of the thermoplastic in terms of curing temperature. However, there is high demand for PPS coatings in China due to the development of alternate coating techniques such as powder coatings, flame deposition, fusion deposition and suspension coatings among others which facilitates a wide variety of coating parts. The other end-use of PPS includes electronic and electrical, industrial and aerospace among others.
The report “Polyphenylene Sulfide (PPS) Industry Trends and Market Segment Forecasts to 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/Polyphenylene-Sulfide-(PPS)-Industry
Further Key findings from the study suggest:
The global polyphenylene sulfide demand is expected to reach 170 kilo tons by 2020 growing at a CAGR of over 10% from 2013 to 2020
Automotive and filter bags emerged as the largest end-use segment for PPS in 2012, accounting for over 50% of the global market. The superior physical and chemical properties of PPS over other thermoplastic make them highly suitable for use in the above mentioned segments. Filter bags and aerospace are expected to be the fastest growing end user applications, growing at a CAGR of over 12% from 2013 to 2020.
China dominated the PPS market and accounted for over 50% of the global consumption in 2012. The region is expected to witness the fastest growth rate over the forecast period on account of the growing end user industry. China is expected to see remarkable growth in the automotive, electronics and aerospace industry over the next decade which is expected to result in increased demand for PPS. Japan and North America were prominent PPS consumers in 2012 owing to the widespread presence of automotive and industrial companies.
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China has favorable regulatory scenario which makes it a lucrative market for PPS. The region is expected to have the highest capacity addition over the next five years due to the growing demand from the end user industries.
The PPS market is fragmented on the global level with manufacturing being predominantly done in China, South Korea, Japan and the U.S. However, regional markets are oligopolistic in nature with China being the most important market. The key companies operating in the market include Sino Polymer, Chevron Phillip, DIC Corporation, Toray Industries and SK Chemicals.
For the purpose of this study, Grand View Research has segmented the global polyphenylene sulfide market on the basis of end user and region:
Polyphenylene Sulfide End-use Outlook:
Electronic and Electrical
Polyphenylene Sulfide Regional Outlook:
Rest of Asia Pacific
Rest of the World
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com
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