Polyphenylene sulfide (PPS) is a semi-crystalline, high-temperature performance polymer possessing aromatic rings linked with sulfides. It belongs to a family of high-performance thermoplastics that include specialty nylons, sulfone polymers, liquid crystal polymers, aromatic polyketones, polyetherimides, and others. PPS offers exceptional properties such as lightweight, heat resistance, tensile strength, and electrical conductivity. Polyphenylene sulfide is a high performance thermoplastic that are widely used in manufacturing components of automotive and electrical & electronics industry. The world polyphenylene sulfide (PPS) market is expected grow at a CAGR of 9.6% from 2016 to 2022 and would reach$1,856 million by 2022 from 2015 market value of $982 million.
The world PPS market is anticipated to register substantial growth in the near future owing to increase in demand from various sectors such as automotive, electronics, industrial, and aerospace. Major factors expected to drive the market include increase in the consumption of PPS compound for high temperature applications due to its superior performance and mechanical characteristics and rise in advancement in automotive and electrical & electronics industry. Rise in PPS consumption in coating applications owing to its excellent electrical properties, chemical resistance, and high heat resistance has increased its demand. In addition, high consumption in food processing equipment, non-stick cookware, and chemical processing is estimated to stimulate market penetration during the forecast period. However, the presence of substitutes, including polyether ether ketone (PEEK) and polyethylenimine (PEI), and the fluctuation in raw material prices restrain the growth.
The report segments the PPS market on the basis of application and geography. On the basis of application, it is divided into automotive, electrical & electronics, industrial, aerospace, medical/healthcare, and others. Automotive was the largest application segment, in terms of value, in 2014, and is expected to show a significant growth in the future. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. In 2015, Asia-Pacific occupied the largest share in the global PPS market, followed by North America and Europe. Improving economies and increased demand from automotive, electrical & electronics industry drives the PPS market in the Asia-Pacific region.
Expansion and product launch covers 54% and 21% share, respectively, out of the total number of strategies adopted by the leading companies from 2011 to 2016. The market dominance of these companies is characterized by their vast product portfolio of PPS and strong distribution network.
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KEY MARKET SEGMENTS:
The World PPS Market is segmented as:
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