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Polyphenylene Sulfide Market Share 2024 - What Are The Main Factors That Contributing Towards Industry Growth?

Author : Ronak Bora | Published Date : 2019-05-24 

Global Polyphenylene Sulfide Market report 2024 focuses on the major Types and Applications for the key players. The market forecast report also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The research report is a professional and in-depth study on the current state of global Industry.

On the basis of types, polyphenylene sulfide market is segmented into virgin and recycled categories. Recycled product is cheaper than the virgin product. However, it possesses inferior properties and complex impurities. Applications aid to product manufacturers in terms of cost benefits and increasing environmental regulations will also foster the rising demand for virgin product. Furthermore, it is preferred by various end user including automotive, filter bag, electrical and electronics and other special product markets, it is manufactured on reasonable cost coupled with low environmental risks. Also, considering fall in prices of products in the recent years the polyphenylene sulfide industry size will grow.

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Automotive industry is the chief driver contributing to high growth rates of the global polyphenylene sulfide market demand. It is used in various common and newly developed automobile applications including rear windshield glazing, instrument panels, headlight lens, door panels, wheel covers, center consoles, roof modules, interior trims, door handles, bumpers and housings. It is also used in other automotive applications including electrical components, chassis, powertrain and trim components. Major driver for the polyphenylene sulfide industry growth in automotive industry comes from flexibility in design, ease of assembly during production and weight reduction potential. Growing demand for high performance materials in various applications in an automotive engine compartment is also propelling the polyphenylene sulfide market share in the automotive industry.

Polyphenylene Sulfide Market size is expected to witness a surge in demand owing to a significant product development in various applications including electronics, electrical, industrial, automotive and aviation. Increasing consumption of product compound for high temperature applications owing to its superior mechanical and performance features. Rise in product consumption in coating applications due to high chemical resistance, excellent electrical properties and high heat resistance will accelerate the market demand.

Polyphenylene sulfide market is commercially in various forms and grades including fibers, compounds, films, filaments, and coatings. Its resins are usually strengthened with several specifically glass fibers and reinforcing materials to enhance its thermal and mechanical properties. These compounds mostly find usage in injection molding processes. An unfilled product resin can be melt down and blow up to manufacture several fabrics and fibers that are utilize for flame-resistant clothing, filtration media and conveyor belts.

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Asia Pacific is expected to observe high growth in demand due to economic advancement in the region coupled with increased product requirements from electrical & electronics, filter baggage and automotive industries. China is expected to lead the regional polyphenylene sulfide market owing to rise in its product imports to meet demand. Various crucial players including both global and local players are expanding their manufacturing bases in the country due to high availability of low waged employees.

Japan is one of the largest producer of these resins globally and is expected to continue this trend in a positive way. Presence of well-equipped manufacturing plants with latest technology favors polyphenylene sulfide market growth in the country. High product manufacturing rate in the country is creating an oversupply scenario in the overall polyphenylene sulfide industry. With the definite capacity, these polyphenylene sulfide industry players are anticipated to operate at low operating margins to generate future expansions depending on the rising demand.

Some of the dominant polyphenylene sulfide market players include Toray, Lumena, Chevron Phillips Chemical, Bayer, FORTRAN, INITZ, Solvay, SABIC, Chengdu Letian Plastics and Tosoh.


About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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