Rising Demand from Automotive Sector Dominating the Market
PPS is an organic polymer consisting of aromatic rings linked with sulfides. It is a rigid and opaque material that exhibits superior chemical and thermal resistance characteristics. In the automotive sector, polyphenylene sulfide (PPS) is mainly used in under-the-hood, fuel system, and powertrain components, along with in surface mounts and other ancillaries. The automotive industry is in its growing stage in many countries in Europe and Asia-Pacific. China is one of the major automobile manufacturing regions of Asia-Pacific and also the world. Moreover, many automotive manufacturers have manufacturing units in the country, thereby contributing to the increasing demand for PPS. Europe has also been a prime region supporting the growth of automotive production, with the year-on-year growth rates of 7.6% and 2.5% in 2015 and 2016, respectively. In the first-half of 2017, the United Kingdom, Italy, and France exhibited a growth in their output, increasing it to approximately 5.7%, 8%, and 1.8% respectively. Hence, the rising automotive production in the many countries around the world is expected to boost the growth of the polyphenylene sulfide over the forecast period.
Aerospace Industry a Potential Sector
The polyphenylene sulfide is used majorly as a composite in the aerospace industry, due to its properties such as heat-resistance, light-weight, strength, rigidity, and recyclability. The use of polyphenylene sulfide in the aircraft in internal parts, such as technical parts, and in propulsion components & structure makes the aircraft light, safe, and more economical. In addition, PPS ensures weight-reduction and compatibility to sustain the atmospheric forces, thus, enabling reduced fuel consumption. According to Boeing, by the end of 2036 approximately 41,000 new fleets, valued at approximately USD 6 trillion, are expected to be added to the total aircraft fleets to meet the global demand. Due to the increasing use of PPS in aircrafts and the increasing number of aircrafts launched in the market annually, the PPS market is expected to experience a huge growth in the aerospace industry during the forecast period.
Asia-Pacific to Dominate the Market
In 2017, Asia Pacific was estimated to be the most lucrative market for polyphenylene sulfide with the market share of approximately 40%, followed by North America and Europe. The growing demand for PPS in the region is mainly driven by the developing countries, such as China, India, South Korea, and Japan, among others. The demand has been increasing due to rising population, increasing urbanization, the improvement in the financial status of consumers, and the improved purchasing power of the middle-class consumers. In addition, the growth in vehicle production in these countries is also boosting the demand for PPS, thereby, making the region an area of immense potential and opportunities over the forecast period.
Notable Developments in the Market
November 2017: Solvay has launched Ryton R-4-300 polyphenylene sulfide (PPS) for thermal management modules and parts.
September 2017: DIC Corporation is planning to invest JPY 800 million to expand the production capacity of for polyphenylene sulfide (PPS) compounds at its Komaki Plant, in Aichi Prefecture, to 3,500 metric tons per year.
August 2017: Toray has announced to build a plant for polyphenylene sulfide (PPS) compound at the Hungarian site of its US subsidiary, Zoltek Companies, with the annual capacity of 3,000 tons which is expected to start its operation in March 2018.
Major Players: DIC Corporation, Solvay Specialty Polymers, Celanese Corporation, Toray Resin Company, PolyOne Corporation, and SABIC Innovative Plastics, among others.
Reason to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Analyze the application that is expected to dominate the market
Detailed study of the regions which are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support, along with the Market Estimate sheet (in Excel).
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1.1 Research Phases
1.2 Scope of the Report
1.3 Study Deliverables
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness- Porters Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Raw Material Analysis
3.4 Patent Analysis
4. Market Dynamics
4.1.1 Growing demand in Automotive sector
4.1.2 Increasing usage as a light weight substitute of metals
4.1.3 Increasing consumption for filter bag applications
4.2.1 High production cost and difficult to process
4.2.2 Presence of Alternative Substitutes
4.2.3 High cost of Raw Materials
4.3.1 Development of Low-Emission and Ecofriendly PPS
4.3.2 Growing R&D for developing new products
4.3.3 Growing Healthcare Sector in Asia Pacific
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Type
5.1.1 Linear PPS
5.1.2 Cross-linked PPS
5.2 By Application
5.2.1 Automotive parts
5.2.2 Power train components
5.2.4 Fuel system components
5.2.5 Surface mounts
5.2.6 Electrical/electronic components
5.2.7 Blower & pump parts
5.2.8 Protective & non-stick coatings
5.2.9 Surgical devices
5.2.10 Power tools
5.3 By End-user Industry
5.3.2 Electrical & Electronics
5.3.4 Business Equipment
5.3.6 Aerospace & Defence
5.3.8 Engineering Equipment
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1.4 South Korea
6.1.5 Australia & New Zealand
6.1.6 Rest of Asia-Pacific
6.2.6 Rest of Europe
6.3 North America
6.3.4 Rest of North America
6.4 South America
6.4.3 Rest of South America
6.5 The Middle-East & Africa
6.5.1 South Africa
6.5.3 Rest of Middle east & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, Recent Developments)
9.1 DIC Corporation
9.2 Solvay Speciality Polymers
9.3 A. Schulman Europe
9.4 Albis Plastic GmbH
9.5 Asia International Enterprise (Hong Kong) Limited
9.6 Bada AG
9.7 BARLOG plastics GmbH
9.8 Celanese Corporation
9.9 Chengdu Letian Plastics Co, Ltd
9.10 Guangdong Shunde Hones Polymer Material Co, Ltd
9.11 Kolon Plastics, Inc.
9.12 LATI S.p.A.
9.13 Lion Idemitsu Composites Co, Ltd.
9.14 Mando Advanced Materials Co, Ltd
9.15 Ovation Polymers Inc.
9.16 PolyOne Corporation
9.17 Polyplastics Co, Ltd.
9.18 RTP Company
9.19 SABIC Innovative Plastics
9.20 Shanghai Polygen Science and Technology Co, Ltd
9.21 Solvay Specialty Polymers
9.22 Techmer Engineered Solutions
9.23 Toray Resin Company
9.24 Vamp Tech
9.25 Zhejiang NHU Special Material Co, Ltd
*List not Exhaustive
** Subject to availability on public Domain
- DIC Corporation
- Solvay Speciality Polymers
- A. Schulman Europe
- Albis Plastic GmbH
- Asia International Enterprise (Hong Kong) Limited
- Bada AG
- BARLOG plastics GmbH
- Celanese Corporation
- Chengdu Letian Plastics Co Ltd
- Guangdong Shunde Hones Polymer Material Co Ltd
- Kolon Plastics Inc.
- LATI S.p.A.
- Lion Idemitsu Composites Co Ltd.
- Mando Advanced Materials Co Ltd
- Ovation Polymers Inc.
- PolyOne Corporation
- Polyplastics Co Ltd.
- RTP Company
- SABIC Innovative Plastics
- Shanghai Polygen Science and Technology Co Ltd
- Solvay Specialty Polymers
- Techmer Engineered Solutions
- Toray Resin Company
- Vamp Tech
- Zhejiang NHU Special Material Co Ltd