Polyphenylene Sulfide (PPS) Market Projected To Reach $1.6 Billion By 2022: Grand View Research, Inc.
The global polyphenylene sulfide (PPS) market is expected to
reach USD 1.6 billion by 2022, according to a new report by Grand View
Research, Inc. Increasing demand in the manufacturing of various automotive
parts including IC regulator & rectifier, coolant circuit, brakes, fuel
pump parts, actuators, motor insulators, and gaskets will augment industry size
over the forecast period.
Growing automotive sector primarily in China, India,
Mexico and the U.S. on account of favorable government policies along with
presence of big players in the market is expected to drive demand. Volatility
in raw material prices may challenge industry growth over the next seven
years.
Technological advancements for the development of
eco-friendly, inexpensive, and low VOCs products along with addition of new
production capacities by prominent players including DIC and Toray is further
expected to open new market opportunities over the next seven years.
Access
Full Research Report by Grand View Research: http://www.grandviewresearch.com/industry-analysis/polyphenylene-sulfide-pps-industry
Further
key findings from the study suggest:
- Global polyphenylene sulfide (PPS) market demand
was over 80,000.0 tons in 2014 and is expected to reach above 140,000.0
tons by 2022, growing at a CAGR of 7.3% from 2015 to 2022.
- Automotive application was valued over USD 250
million in 2014 and will witness substantial rise in light of increasing
automobile industry in the U.S., Mexico, India and China. High demand for
various products including seat frames, ducting, panels, brackets, ribs and
fasteners will fuel growth.
- North America accounted for over 20% of the
global volume in 2014 and is expected to witness significant growth over
the next seven years on account of growing automotive and aerospace sector
in the region. Rising automotive production mainly in Mexico along with
leading automobile companies including Nissan, Honda Motors and Mazda will
spur industry expansion.
- Key industry players include Toray Industries, SK
Chemicals, Celanese Corporation Lumena, DIC, Solvay, Tosoh Corporation,
Lion Idemitsu Composites Co. Ltd, NHU, Kureha Corporation and SABIC.
Various companies are involved in continuous R&D and ongoing product
development to enhance properties of PPS.
- In September 2014, Solvay signed an agreement to
purchase Ryton PPS business from Chevron Phillips Chemical Company for USD
220 million in order to expand its high-performance polymers products and
strengthen business presence. The company is expected to purchase
PPS resin manufacturing units in Borger, Texas; Bartlesville, Oklahoma,
and Kallo-Beveren, Belgium.
Browse more reports of this category
by Grand View Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand
View Research has segmented the global polyphenylene sulfide (PPS) market on
the basis of application and region:
Global PPS Application Outlook
(Volume, Tons; Revenue, USD Million, 2012 - 2022)
- Automotive
- Electronics &
Electrical
- Industrial
- Coatings
- Others
Global PPS Regional Outlook
(Volume, Tons; Revenue, USD Million, 2012 - 2022)
- North America
- U.S.
- Europe
- Germany
- Asia Pacific
- Japan
- China
- RoW
Access press release by Grand View
Research: http://www.grandviewresearch.com/press-release/Global-Polyphenylene-Sulfide-(PPS)-Industry
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, 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 healthcare.
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