According to the latest report by IMARC Group, titled "Polyphenylene Sulfide (PPS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global polyphenylene sulfide (PPS) market reached a value of US$ 1.7 Billion in 2022. Polyphenylene sulfide (PPS) refers to a semicrystalline material that is generally utilized in the manufacturing of various electronic components, such as circuits, sockets and plug-ins. It is produced by a reaction of dichlorobenzene and sodium sulphide that usually exhibits excellent electrical properties. Along with this, it is strong, tough and offers inherent flame resistance. Additionally, it is an organic polymer that is also used in the production of filter fabric for papermaking felts, film capacitors, gaskets, coil boilers and specialty membranes. In comparison to polyimide (PI) and polyether ether ketone (PEEK), the production cost of PPS is relatively cost-efficient, due to which it is gaining prominence across the globe.
Global Polyphenylene Sulfide (PPS) Market Trends:
The global market is primarily driven by the increasing product demand across the aerospace industry. This is supported by the rising utilization of PPS as a preferred alternative for aluminum in the manufacturing of airbus. Moreover, the widespread usage of PPS in the production of hybrid vehicles is creating a positive outlook for the market. Additionally, the widespread product utilization in the manufacturing of dust chambers and filter bags across power plants is acting as another major growth-inducing factor. Furthermore, continuous technological advancements in manufacturing processes are positively influencing the market growth. Other factors, including continuous product innovations, rapid industrialization and extensive research and development (R&D) activities conducted by key players in order to introduce higher grade PPS variants, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 2.4 Billion by 2028, growing at a CAGR of 5.1% during 2023-2028.
- On the basis of the type, the market has been segmented into linear, cured and branched PPS.
- Based on the recyclability, the market has been bifurcated into virgin and recycled.
- On the basis of the application, the market has been categorized into automotive, electrical and electronics, aerospace, medical/healthcare and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of the key players include British Plastics Federation, Celanese Corporation, DIC Corporation, Kolon Plastics Inc., Kureha Corporation, Polyplastics Co. Ltd. (Daicel Corporation), Ryan Plastics Limited, SK Chemicals Co. Ltd., Solvay S.A, Teijin Limited, Toray Industries Inc. and Tosoh Corporation.
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