APEJ (Asia and Pacific except Japan) accounts for significant market share in global polyphenylene sulfide (PPS) resins market.
Rockville, United States - January 10, 2020 /MarketersMedia/ —
Polyphenylene sulfide resins (PPS) are a type of high performance, semi-crystalline thermoplastic material, which is primarily characterized by superior temperature and heat deflection, fire resistance, chemical resistance, and dimensional stability. It is also widely considered to be a viable alternative to thermosets and metals in a number of end use applications.
The global polyphenylene sulfide resins market is anticipated to grow at a healthy CAGR of ~ 6 per cent through the end of the forecast period in 2029. This growth can be largely attributed to its wide range of industrial applications for filtration components and automotive components as well. It also finds use in the electronics industry a high value coating material to reduce electronic fires.
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Capacity Expansion is Key Business Strategy
The global polyphenylene sulfide resins market is largely consolidated in nature, with some of the major names in the industry including Fortron Industries, Solvay SA, and DIC Corporation, and Toray Industries Inc.
Major players in the market have been implementing multiple business strategies, the most widely implemented of which are investing in research and development activities and pushing for regional expansions in new markets in a bid to solidify their global foundations.
Further manufacturers have also been investing in backward integration processes for production facilities, which are primarily aimed to gain advanced quality grades for polyphenylene sulfide to meet the high demand requirements by end users.
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New High Grade PPS Compounds Gain Growth
Recent years have witnessed the introduction of numerous PPS resins, which are widely used in specialized applications including industrial, electrical, mechanical, electronic, and automotive sectors. The newer grade of PPS provide numerous advantages over conventional alternatives including lower wear and tear, thermal conductivity, and magnetic properties.
The introiduction of these new and superior grades of polypheylene sulfide resins are anticipated to bolster consumption for PPS in numerous end use industries. The newer grades also allow end users to use the material in extruded and blow molded processes, which are expected to create a vast range of opportunities for producers in the market.
APEJ to Display Greater Growth Rates
Across the Asia Pacific excluding Japan region, countries are key contributors to the market share of the global polyphenylene sulfide resins market. Of the regional markets here, the PPS market of China is expected to attract a vast range of opportunities, and will result in the overall APEJ CAGR surpassing 8 per cent.
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While the markets of PPS in North America and Japan have reached maturity, manufacturers are anticipated to push more of their offerings towards fast-growing markets such as China. On the other hand, the demand for PPS in the Middle East and Africa, and Latin America is set to be primarily met through imports.
In addition the Japan and United States markets are going through a phase of overcapacity, where the production capacity has gone beyond domestic demand, which has resulted in the excess material being pushed towards exports, which is expected to generate price fluctuations in the markets for the near future.
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