The global polyphenylene sulfide (PPS) resins market to progress at a CAGR of 6.7% and be valued at US$ 2.2 Bn by 2031. Currently, PPS resins account for close to 1% of the global engineering thermoplastics market.
Polyphenylene sulfide resin production in 2021 is estimated to surpass 120 KT, with approximately 50% being consumed in theAPEJ region, states Fact.MR, a market research and competitive intelligence provider. Overall polyphenylene sulfide (PPS) resin consumption is set to reach 199 KT by the end of 2031.
The Demand analysis of Polyphenylene Sulfide (PPS) Resins Market offers a comprehensive analysis of diverse features, demand, product developments, revenue generation, and sales of Polyphenylene Sulfide (PPS) Resins Market across the globe.
Key Takeaways from Market Study
- Global polyphenylene sulfide resins market is expected to create a value opportunity of around US$ 950 Mn over the forecast period of 2021 to 2031.
- Use of PPS resins in the automobile industry as a replacement of metals will generate 2.8X revenue by the end of 2031.
- Demand for polyphenylene sulfide resins for aerospace and defence applications is set to add 2X value by 2031.
- Asia Pacific except Japan (APEJ) is expected to maintain its reign in terms of demand, accounting for more than 50% of global PPS resin demand.
- Polyphenylene sulfide resin production in North America and Japan is in the state of overproduction, and thus, manufacturers from these regions are targeting growth opportunities in countries such as China, which is consuming around 88% of total PPS resins in the APEJ region.
- The global market is highly consolidated, with Solvay SA, Toray Industries Inc., DIC Corporation, and Fortron Industries LLC among the top players in the market.
“Use of PPS resins in automotive applications will emerge as a significant revenue stream for market players. Growing demand for lightweight, high-performance plastics for specialized applications that require a combination of extraordinary properties and high efficiency will strengthen demand for PPS resins,” says a Fact.MR analyst.
Key Segments Covered in PPS Resins Industry Research
- By Application
- Electrical & Electronics
- Aerospace & Defence
- Filters & Filter Bag
Top Companies in the Polyphenylene Sulfide Resins Industry
Market players in the PPS resins business have mainly opted for organic growth strategies such as capacity expansion, product development, and innovation. These strategies are helping PPS resin key players expand their regional footprint and garner market share, thus providing them with a competitive advantage.
- In September 2018, Toray Industries Inc. publicized the investment of US$ 89.3 Mn to increase polyphenylene sulfide resin output capacity at its Gunsan plant in South Korea
- In September 2017, DIC Corporation expanded its polyphenylene sulfide production lines in Japan and invested US$ 7.2 Mn to increase annual PPS production up to 3,500 metric tons.
- In October 2018, Solvay launched all new polyphenylene sulfide extrusion grades through the trade name Ryton®, primarily designed for cooling line assemblies in the automotive sector.
Similar, recent developments related to companies offering in polyphenylene sulfide (PPS) resin business have been tracked by the team at Fact.MR, which are available in the full report.