Polyphenylene Sulphide Market - Forecast(2023 - 2028)

Report Code: CMR 1321 Report Format: PDF + Excel

Polyphenylene Sulphide Market Overview

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. 

Report Coverage 

The report: Polyphenylene Sulphide Market Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Polyphenylene Sulphide Industry.

By Type: Linear PPS, Cured PPS, Branched PPS, Others.
By End Use Industry: Automotive, Passenger Vehicle, Commercial Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Appliances, Electrical and Electronics, Healthcare, Hospitals, Long Term Care Facilities, Clinics and Diagnostic Centers, Industrial, Oil and Gas, Aerospace and Defense, Textile, Others.
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa). 

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.

Figure: Asia Pacific Polyphenylene Sulphide Market Revenue, 2021-2027 (US$ Billion)

Polyphenylene Sulphide Market Revenue

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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. 

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. 

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: 

  1. Toray Industries
  2. Kureha Corporation
  3. Poly Fluoro Ltd.
  4. Solvay S.A.
  5. Tosoh Corporation
  6. Chengdu Letian Plastics Co., Ltd
  7. Albis Plastic GmbH
  8. SABIC
  9. Chevron Phillips Chemical PPS
  10. SK Chemicals
  11. 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. 

Relevant Reports 

Global Sodium Sulfide Industry Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 – 2026
Report Code: CMR 11543 

Aluminum Sulfide Market - Forecast(2021 - 2026)
Report Code: CMR 0267

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1. Polyphenylene Sulphide Market- Market Overview
    1.1 Definitions and Scope
2. Polyphenylene Sulphide Market- Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by End Use Industry
    2.3 Key Trends by Geography
3. Polyphenylene Sulphide Market- Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Polyphenylene Sulphide Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Polyphenylene Sulphide Market– Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis - Major companies
6. Polyphenylene Sulphide Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of substitutes
7. Polyphenylene Sulphide Market-Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Product/Market life cycle
    7.4 Distributors Analysis - Major Companies
8. Polyphenylene Sulphide Market– By Type (Market Size -US$ Million, Billion)
    8.1 Linear PPS
    8.2 Cured PPS
    8.3 Branched PPS
    8.4 Others
9. Polyphenylene Sulphide Market– By End Use Industry (Market Size -US$ Million, Billion)
    9.1 Automotive
        9.1.1 Passenger Vehicle
        9.1.2 Commercial Vehicle
        9.1.2.1 Light Commercial Vehicle
        9.1.2.2 Heavy Commercial Vehicle
    9.2 Appliances
    9.3 Electrical and Electronics
    9.4 Healthcare
        9.4.1.1 Hospitals
        9.4.1.2 Long Term Care Facilities
        9.4.1.3 Clinics and Diagnostic Centers
        9.4.1.4 Others
    9.5 Industrial
    9.6 Oil and Gas
    9.7 Aerospace and Defense
    9.8 Textile
    9.9 Others
10. Polyphenylene Sulphide Market - By Geography (Market Size -US$ Million / Billion)
    10.1 North America
        10.1.1 USA
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 UK
        10.2.2 Germany
        10.2.3 France
        10.2.4 Italy
        10.2.5 Netherlands
        10.2.6 Spain
        10.2.7 Russia
        10.2.8 Belgium
        10.2.9 Rest of Europe
    10.3 Asia Pacific
        10.3.1 China
        10.3.2 Japan
        10.3.3 India
        10.3.4 South Korea
        10.3.5 Australia and New Zealand
        10.3.6 Indonesia
        10.3.7 Taiwan
        10.3.8 Malaysia
        10.3.9 Rest of Asia Pacific
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Colombia
        10.4.4 Chile
        10.4.5 Rest of South America
    10.5 ROW
        10.5.1 Middle East
            10.5.1.1 Saudi Arabia
            10.5.1.2 UAE
            10.5.1.3 Israel
            10.5.1.4 Rest of Middle East
        10.5.2 Africa
            10.5.2.1 South Africa
            10.5.2.2 Nigeria
            10.5.2.3 Rest of Africa
11. Polyphenylene Sulphide Market-Entropy
    11.1 New Product Launches
    11.2 M&A’s, Collaborations, JVs and Partnerships
12. Polyphenylene Sulphide Market-Industry/Segment Competition Landscape Premium
    12.1 Company Benchmarking Matrix- Major Companies
    12.2 Market Share at Global Level- Major companies
    12.3 Market Share by Key Region- Major companies
    12.4 Market Share by Key Country- Major companies
    12.5 Market Share by Key Application - Major companies
    12.6 Market Share by Key Product Type/Product category- Major companies
13. Polyphenylene Sulphide Market- Key Company List by Country Premium Premium 
14. Polyphenylene Sulphide Market Company Analysis- Business Overview, Product Portfolio, Financials, and Developments
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"