Polyarylsulfone Market by Application, Product, and Geography - Forecast and Analysis 2020-2024

The polyarylsulfone market size has the potential to grow by 32.00 k tons during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by application (medical, automotive, electrical and electronics, mechanical engineering, and others), product (PSU, PESU, and PPSU), and geography (APAC, Europe, North America, MEA, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including 3M Co., BASF SE, Ensinger GmbH, Mitsubishi Chemical Holdings Corp., Nordon Inc., RTP Co., Saudi Basic Industries Corp., Solvay SA, Sumitomo Chemical Co. Ltd., and Trident Plastics Inc.

Market Overview

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Market Competitive Analysis

The market is concentrated. The vendors in the polyarylsulfone market use innovation as a major strategy to gain a competitive advantage. Most vendors provide different types of polyarylsulfone such as PESU, PSU, and PPSU and compete based on factors such as cost, price, innovation, and product quality. To meet the environmental limitations and to control the cost of production of polyarylsulfone, the vendors are increasing their investments in R&D activities. 3M Co., BASF SE, and Ensinger GmbH are some of the major market participants. Although the increasing demand from the medical technology industry will offer immense growth opportunities, the high cost of polyarylsulfone will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this polyarylsulfone market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this polyarylsulfone market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• 3M Co.
• BASF SE
• Ensinger GmbH
• Mitsubishi Chemical Holdings Corp.
• Nordon Inc.
• RTP Co.
• Saudi Basic Industries Corp.
• Solvay SA
• Sumitomo Chemical Co. Ltd.
• Trident Plastics Inc.

Polyarylsulfone Market: Segmentation by Geography

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APAC was the largest polyarylsulfone market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising demand for passenger cars and the continuous development and technological improvements will significantly drive polyarylsulfone market growth in this region over the forecast period.

42% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for polyarylsulfone in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Polyarylsulfone Market: Segmentation by Application

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During 2020, the medical segment accounted for the major share of the polyarylsulfone market. The use of polyarylsulfone in several medical devices and instruments such as X-ray machines, gamma machines, dental and surgical equipment, orthopedic equipment, and sterilization trays, will be a major factor contributing to the growth of this market segment in the coming years. Therefore, market growth in the medical segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the polyarylsulfone market size.

Polyarylsulfone Market: Key Drivers and Trends

Technavio's research analysis on the global polyarylsulfone market has identified the rising demand from the medical technology industry as one of the primary factors that will have a positive impact on this market's growth in the coming years. There is a growing demand for high-performance thermoplastics from the medical sector. PPSU is widely used in X-ray machines due to its properties such as low water absorption rate, impermeability, and resistance to disinfectants. Moreover, it can also be used as a cleaning agent. PPSUs are also used in dental applications, orthopedics, sterilization cases and trays, single-use instruments, hemodialysis membranes, and implantable devices. This demand from the medical sector will propel the growth prospects of the polyarylsulfone market in the coming years. Technavio's market research analysts predict that in terms of volume, this market will grow at a CAGR of over 7% by 2024.

Replacement of conventional materials is one of the key polyarylsulfone market trends gaining traction. Product differentiation has become a popular market strategy. Hence, vendors are continuously innovating and restructuring their product portfolio and offerings. They are focusing more on the making of sustainable and recyclable products. For example, in the case of medical applications, conventional plastics deteriorate after single-use or have a limited use cycle, after steam and sterilization processes. However, PPSU can be used more than 1,000 cycles, post-sterilization. End-users of thermoplastics prefer materials that showcase high durability, stability, temperature resistance, and low water absorption properties. The conventional materials, due to their lower durability and heat and temperature resistances, are getting obsolete in the market. Hence, the demand for new materials such as polyarylsulfone is increasing and contributing to market growth.

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Polyarylsulfone Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive polyarylsulfone market growth during the next five years
• Precise estimation of the polyarylsulfone market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the polyarylsulfone industry across APAC, Europe, North America, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of polyarylsulfone market vendors

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