Overview of the global polyphenylene sulfide market
According to Technavio’s analysts, the global polyphenylene sulfide market is anticipated to grow at a steady rate and post a CAGR of close to 10% during the forecast period. The increasing demand for PPS filter bags in power plants will drive the growth prospects for the global polyphenylene sulfide market until the end of 2021. The governments of many countries have mandated the usage of filter bags in power plants to reduce the harmful effects of greenhouse gases and control their emission. As a result, the demand for PPS increases as it is used in the filters required in coal-fired power plants and dust chamber filters in incinerators. Also, since PPS polymers have cost advantages over PTFE, polyamides, and aramid, they are increasingly preferred over other fibers. Furthermore, it has been observed that PPS filter bags have a longer service life in comparison to glass fiber filter bags.
The growing focus on the production of bio-based engineering plastics will drive the growth prospects for the global polyphenylene sulfide market for the next four years. Several key players are adopting bio-based plastics to minimize the harmful effects of plastics on the environment, which will accelerate the rate of revenue generation in the global polyphenylene sulfide market. Evonik already provides bio-based polyamides under the brand name Vestamid Terra.
Competitive landscape and key vendors
The global PPS market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. According to the industry research report, these vendors in the PPS plastic market are increasingly competing against each other based on factors such as price, performance, and innovation.
Key vendors in this market are -
- Celanese
- DIC
- INITZ
- Solvay
- Toray Industries
Other prominent vendors in the market include Lion Idemitsu Composites, SABIC, Tosoh, and Zhejiang NHU.
Segmentation by application and analysis of the polyphenylene sulfide market
- Automotive
- Electronics and electrical
- Industrial
The global PPS market for automotive applications accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. One of the major factors responsible for the growing use of PPS composites in automotive components is its ability to withstand high temperature and resist deterioration by fuels and lubricants.
Segmentation by geography and analysis of the polyphenylene sulfide market
- APAC
- Europe
- North America
- ROW
In terms of geography, APAC accounted for the majority market share during 2016 and will continue to dominate the PPS plastic market during the forecasted period. One of the major factors responsible for the growing penetration of hdpe plastic in the region is its applications in automotive, electronics and electrical, filter bags, coatings, and aerospace.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global polyphenylene sulfide market?
- What are the key market trends impacting the growth of the global polyphenylene sulfide market?
- What are the challenges to market growth?
- Who are the key vendors in the global polyphenylene sulfide market?
- What are the market opportunities and threats faced by the vendors in the global polyphenylene sulfide market?
- What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?
- What are the key outcomes of the five forces analysis of the global polyphenylene sulfide market?
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