The Polyphenylene Sulphide Market globally is forecast to reach US$1.9 billion by 2027 after growing at a CAGR of 8.9% during 2022-2027. Polyphenylene sulphide is an organic polymer that exhibits robust properties such as electrical insulation, corrosion resistance, and high performance thermoplastic property. It is used extensively in the automobile industry for the manufacturing of several auto components and parts such as gaskets, pump parts, valves, bushings, and many more. The automobile industry is booming with high production and sales and this will drive the growth of the market in the forecast period. For instance, as per the stats by India Brand Equity Foundation, in 2020, India was the fifth-largest automobile market with 3.49 million units sold combinedly in the passenger and commercial vehicles segment. Furthermore, owing to its exceptional dimensional stability and low density, polyphenylene sulphide is widely used in multiple appliances such as toasters, air conditioners, microwaves, steam iron, etc. The appliances industry globally is expanding with increasing sales and this will drive the growth of the market in the forecast period. For instance, as per the data by India Brand Equity Foundation, the appliance and consumer electronics industry projected to double to reach US$ 21.18 billion by 2025. The high cost associated with polyphenylene sulphide might hamper the market’s growth in the forecast period.
COVID-19 Impact
The polyphenylene sulphide market was badly affected by the COVID-19 with challenges such as disturbances in the supply chain and idling of factories surfaced amid the pandemic. Market players adopted new strategies to withstand the severity of the COVID-19 pandemic and maintain a stable business operation. Many companies still reported about the adverse impact of the pandemic on their key business even after modifying the work patterns. For instance, as per the FY2019 Financial Reports (Period April 1, 2019 – March 31, 2020) by Kureha Corporation, the company stated a drop in revenue due to a decline in polyphenylene sulphide (PPS). The market displayed decent growth towards the end of 2020 with demand for PPS increased from key end-use industries. Going forward, the market is projected to witness significant demand owing to the expanding automobile and appliances industry.
Polyphenylene Sulphide Market – By Type
Linear PPS dominated the polyphenylene sulphide market in 2021 and is growing at a CAGR of 9.1% in the forecast period. This type of polyphenylene sulphide comes with nearly double the molecular weight of regular PPS. The high molecular chain length results in elongation, impact strength, and high tenacity. Owing to such robust properties, market players and research organizations are engaging in the higher implementation of linear PPS in the market. For instance, as per the September 2019 journal by the National Center for Biotechnology Information (NCBI), a linear PPS powder with a melting point of 278 °C grade 1330C and a melt flow rate of 250 g/10 min was used in the analysis of the effect of the light spectral composition and temperature on the color change characteristics during the irradiation of polyphenylene sulfide in the SUNTEST apparatus. Such increasing usage of linear PPS will increase its demand in the polyphenylene sulphide market in the forecast period.
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Polyphenylene Sulphide Market – By End Use Industry
The automotive industry dominated the polyphenylene sulphide market in 2021 and is growing at a CAGR of 9.4% in the forecast period. Polyphenylene sulphide which is an organic polymer is used in the automobile industry in a wide range of applications covering fuel injection systems, coolant systems, air intake systems, valves, bearings, and many more. The robust qualities of polyphenylene sulphide such as electrical insulation and high performance thermoplastic property make it a suitable replacement for metals in the automobile industry. The automobile industry is projected to be on a progressive track in the forecast period as well and this will drive the growth of the market. For instance, according to the statistics by the China Association of Automobile Manufacturers, the annual sales volume of new energy vehicles in China is anticipated to touch 3 million units by 2025 which was 1.2 million units in 2019. Similarly, as per the June 2021 report by European Automobile Manufacturers Association, in May 2021, registrations in the European passenger cars segment increased by 53.4% compared to the same month in 2020. This growing automobile industry globally will increase the higher uses of polyphenylene sulphide in various automobile components and this will contribute to the growth of the market in the forecast period.
Polyphenylene Sulphide Market – By Geography
The Asia-Pacific region held the largest market share in the sulphide market in 2021 with a market share of up to 34%. The high demand for polyphenylene sulphide is attributed to the booming automobile sector in this region. For instance, according to the report by the India Brand Equity Foundation, sales in the passenger vehicles segment in the Indian market surged as 261,633 units sold in April 2021, acquiring a market share of 12.9%. Similarly, according to the statistics by the China Association of Automobile Manufacturers, in September 2021, production of Chinese commercial vehicles reached 310000 units, surging 35.5% month on month. Such a boost in the production and sales of automobiles will increase the use of polyphenylene sulphide in various automobile parts and components. The North American region will witness significant demand for polyphenylene sulphide owing to the rise in the region’s appliances industry.
Polyphenylene Sulphide Market Drivers
Expanding appliances industry will drive the growth of the market
The appliances industry is one of the largest consumers of the organic polymer polyphenylene sulphide. This polymer material finds its wide usage in numerous appliances such as fry pans, toasters, hair dryers, air conditioners, microwaves, and many more. The appliances industry is expanding globally and this will drive the market’s growth in the forecast period. For instance, as per the March 2021 data by China Household Electrical Appliances Association, China’s home appliance sector rallied steadily in 2020 as export value touched USD 83.7 billion, surging 18% year on year. Similarly, as per the April 2021 news by the Association of Home Appliance Manufacturers (AHAM), the US manufacturing association requested Biden Administration to address supply chain challenges which will help the home appliances associations to stimulate the production rate to meet the increasing demand for household appliances in the US. This expansion in the appliances industry globally will increase the uses of polyphenylene sulphide in various appliance products which in turn will contribute to the growth of the market in the forecast period.
Booming automobile industry will contribute to the market growth
Polyphenylene sulphide is broadly associated with the automobile industry. It is used in several automobile components owing to its superior qualities like electrical insulation, corrosion resistance, and high performance thermoplastic property. The global automobile industry is booming with increasing numbers in production and sales of automobiles and this will drive the market’s growth in the forecast period. For instance, as per the statistics by Autohome Inc., annual sales in Chinese passenger vehicles will touch 30 million units by 2029 which was 21.44 million units in 2019. Similarly, as per the July 2021 report by the European Automobile Manufacturers Association, in June 2021, registrations in passenger cars surged where Germany witnessed the highest demand in the passenger car with a 24.5% increase, followed by Spain with a 17.1% surge. This booming automobile industry globally will increase the requirement of polyphenylene sulphide in various automobile components and this will contribute to the market’s growth in the forecast period.
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Polyphenylene Sulphide Market Challenges
High cost of polyphenylene sulphide might hamper the market’s growth
The high cost associated with polyphenylene sulphide has been a key challenge in the market and this might hamper the market’s growth in the forecast period. Polyphenylene sulphide is an expensive material that is sometimes used only when good heat resistance is needed, restricting its widespread adoption. Many market players have highlighted the expensive nature of polyphenylene sulphide. For instance, as per the November 2019 blog by Poly Fluoro Ltd., the company mentioned the higher cost and brittle nature of PPS. This high cost of PPS might hamper the growth of the polyphenylene sulphide market in the forecast period.
Polyphenylene Sulphide Market Industry Outlook
Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the polyphenylene sulphide market. Major players in the polyphenylene sulphide market are:
Toray Industries
Kureha Corporation
Poly Fluoro Ltd.
Solvay S.A.
Tosoh Corporation
Chengdu Letian Plastics Co., Ltd
Albis Plastic GmbH
SABIC
Chevron Phillips Chemical PPS
SK Chemicals
Other
Recent Developments
In March 2019, Toray Industries developed a new polyphenylene sulfide resin primarily for automobile applications. Such developments will help in the expansion of polyphenylene sulfide market in the forecast period.
Key Takeaways:
Linear PPS is leading the polyphenylene sulphide market. This type of PPS has a higher molecular weight than regular PPS and possesses robust impact strength, making it a suitable choice in the market.
The automotive industry will drive the growth of the market in the forecast period. As per the July 2021 statistics by the European Automobile Manufacturers Association, registrations in the passenger cars segment surged by 25.2% in the first of 2021 in the European region.
The Asia Pacific region will witness the highest demand for polyphenylene sulphide in the forecast period owing to the booming automobile industry in the region. According to the October 2021 statistics by Maruti Suzuki, the compact and mini segment registered 400568 units sold between April-September in 2021-22 which was 307,322 units in the same period in 2020-21. Such high selling of automobiles in the region will increase the higher uses of polyphenylene sulphide in the various automobile components and parts.
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