Technological advancements such as the introduction of newer grades of PPS and innovations in manufacturing processes is aiding the demand for enhanced and compatible polyphenylene sulfide (PPS) resins. The Global polyphenylene sulfide resins market is forecast to surpass US$ 1.9 Bn in 2029, reveals Fact.MR in a recently published report. Notable advancements such as high consumption of PPS in hybrid electric vehicles and molding of chlorine free electronic devices is giving traction to the PPS market.
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Other bundled applications of PPS in industrial coatings and filtration is likely to propel demand growth. Global polyphenylene sulfide (PPS) resins market is poised to reflect a positive growth of around 6% CAGR for these sectors. Automotive would be the dominant application of polyphenylene sulfide (PPS) resins.
Key Takeaways of Global Polyphenylene Sulfide (PPS) Market
- Global polyphenylene sulfide (PPS) resins market is expected to create a value opportunity of around US$ 850 Mn during the forecast period
- Use of PPS in automobiles as a replacement of metals to reduce vehicle weight has gained traction over the last decade. Further developments in advanced grade PPS for solving critical issues such as headlamp haze in vehicles will further give impetus to the global consumption of polyphenylene sulfide resins in automotive
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- Demand of polyphenylene sulfide for aerospace and defense applications is set to add 2X more value in 2029 as compared to 2019
- Asia Pacific except Japan (APEJ) is expected to maintain its reign in terms of demand, accounting for more than half of global polyphenylene sulfide demand
- Polyphenylene sulfide production in North America and Japan is in the state of overproduction, thus manufacturers from these regions are targeting growth opportunities in countries such as China
- Global polyphenylene sulfide (PPS) resins market is highly consolidated, with Solvay SA, Toray Industries Inc., DIC Corporation and Fortron Industries LLC, among the top players of the market
“Use of PPS in automobile applications will emerge as a significant revenue stream for polyphenylene sulfide (PPS) resins manufacturers. Growing demand for light-weight, high performance plastics for specialized applications that require a combination of extraordinary properties and high efficiency, will strengthen the demand for polyphenylene sulfide (PPS) resins.” says a Fact.MR analyst
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Players Eye Lucrative Expansions to Hold Their Market Share
Fierce competition amongst the key players has led to several capacity expansions in the last few years. Matured markets in US and Japan have forced players to shift manufacturing facilities to other countries. Further, owing to global overcapacity, the market will continue to remain highly competitive. However, it is expected that key stakeholders will adjust production capacity and exert price discipline to avoid significant price erosion from their margins.
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