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 size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.
Polyphenylene sulfide (PPS) refers to semi-crystalline and high-temperature engineering thermoplastic. It is manufactured through a reaction of dichlorobenzene and sodium sulfide in a solvent. It is a rigid and opaque polymer with a higher melting point and lower material costs as compared to polyetheretherketone (PEEK) and liquid-crystal polymer (LCP). It has high-temperature resistance, flame retardance, mechanical strength, dimensional stability, moisture resistance, and electrical insulation properties. As a result, PPS is widely employed in the automotive, electrical and electronics, medical, textile, aerospace, and defense industries across the globe.
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Polyphenylene Sulfide (PPS) Market Trends and Drivers:
Presently, the rising demand for PPS in the medical industry due to its thermal and chemical stability that allows for repeat sterilization and cleaning of surgical instruments represents one of the primary factors strengthening the market growth. Besides this, the growing demand for PPS, as it is utilized in replacing metals, thermosets, and lower-performing plastics in motors and controls, pumps, fans, and blowers, is offering a positive market outlook. Apart from this, the increasing utilization of PPS in the aerospace industry as an alternative to aluminum for structural components of aircraft is bolstering the growth of the market. Moreover, the rising employment for actuator housings and the gears to transfer power to breaks is offering lucrative growth opportunities to industry investors. Furthermore, key players operating in the industry are introducing new polyphenylene sulfide resin with high flexibility and superior chemical and heat-resistant properties.
Polyphenylene Sulfide (PPS) Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- 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.
- Tosoh Corporation.
The report has segmented the market based on component, mobility, application and vertical.
Breakup by Type:
- Linear PPS
- Cured PPS
- Branched PPS
Breakup by Recyclability:
- Virgin
- Recycled
Breakup by Application:
- Automotive
- Electrical and Electronics
- Aerospace
- Medical/Healthcare
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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