The global polyphenylene sulfide (PPS) market is expected to reach USD 1.6 billion by 2022, according to a new report by Grand View Research, Inc. Increasing demand in the manufacturing of various automotive parts including IC regulator & rectifier, coolant circuit, brakes, fuel pump parts, actuators, motor insulators, and gaskets will augment industry size over the forecast period.
Growing automotive sector primarily in China, India, Mexico and the U.S. on account of favorable government policies along with presence of big players in the market is expected to drive demand. Volatility in raw material prices may challenge industry growth over the next seven years.
Technological advancements for the development of eco-friendly, inexpensive, and low VOCs products along with addition of new production capacities by prominent players including DIC and Toray is further expected to open new market opportunities over the next seven years.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/polyphenylene-sulfide-pps-industry
Further key findings from the report suggest:
·
Global polyphenylene sulfide (PPS) market demand
was over 80,000.0 tons in 2014 and is expected to reach above 140,000.0 tons by
2022, growing at a CAGR of 7.3% from 2015 to 2022.
·
Automotive application was valued over USD 250
million in 2014 and will witness substantial rise in light of increasing
automobile industry in the U.S., Mexico, India and China. High demand for
various products including seat frames, ducting, panels, brackets, ribs and
fasteners will fuel growth.
·
North America accounted for over 20% of the
global volume in 2014 and is expected to witness significant growth over the
next seven years on account of growing automotive and aerospace sector in the
region. Rising automotive production mainly in Mexico along with leading
automobile companies including Nissan, Honda Motors and Mazda will spur
industry expansion.
·
Key industry players include Toray Industries,
SK Chemicals, Celanese Corporation Lumena, DIC, Solvay, Tosoh Corporation, Lion
Idemitsu Composites Co. Ltd, NHU, Kureha Corporation and SABIC. Various
companies are involved in continuous R&D and ongoing product development to
enhance properties of PPS.
·
In September 2014, Solvay signed an agreement to
purchase Ryton PPS business from Chevron Phillips Chemical Company for USD 220
million in order to expand its high-performance polymers products and strengthen
business presence. The company is expected to purchase PPS resin
manufacturing units in Borger, Texas; Bartlesville, Oklahoma, and
Kallo-Beveren, Belgium.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the global polyphenylene sulfide (PPS) market on the basis of application and region:
Global PPS Application Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
·
Automotive
·
Electronics & Electrical
·
Industrial
·
Coatings
·
Others
Global PPS Regional Outlook (Volume, Tons; Revenue, USD Million,
2012 - 2022)
·
North America
o
U.S.
·
Europe
o
Germany
·
Asia Pacific
o
Japan
o
China
·
RoW
For press release of this report - http://www.grandviewresearch.com/press-release/Global-Polyphenylene-Sulfide-(PPS)-Industry
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