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Polyphenylene Sulfide (PPS) Resin Market Size (2024 - 2029)

The Polyphenylene Sulfide resin market is projected to experience growth, driven by the advantages of PPS resin products over other materials and increased demand in automotive and electronic applications. Despite the initial negative impact of COVID-19 on manufacturing and demand, the market is expected to recover as production resumes. The high cost of PPS resins poses a challenge, but the rapid development of lightweight electric vehicles presents significant growth opportunities. The Asia-Pacific region leads the market, fueled by the expanding automotive industry in countries like India and China.

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Market Size of Polyphenylene Sulfide (PPS) Resin Industry

Polyphenylene Sulfide (PPS) Resin Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR < 5.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Polyphenylene Sulfide (PPS) Resin Market Major Players

*Disclaimer: Major Players sorted in no particular order

Polyphenylene Sulfide (PPS) Resin Market Analysis

The Polyphenylene Sulfide (PPS) resin market is expected to register a CAGR of around 5% during the forecast period.

COVID-19 negatively impacted the market as all the industries put their manufacturing processes on halt. The unfavorable conditions arising from the pandemic resulted in low demand for automotives, which resulted in the negative growth of the PPS resins market during the forecast period. However, the market is anticipated to retain its growth trajectory in 2022 due to the resumed production processes of all industries.

  • The primary factors driving the growth of the market studied are the advantage of PPS resin-based products over other thermoplastic resin-based products and metals and the increased demand for PPS resins in automotive and electronic applications.
  • The high cost associated with PPS resins acts as a restraint in the growth of the market.
  • Rapid production of lightweight electric vehicles is creating a lucrative opportunity for the PPS resin market to grow shortly.
  • The Asia-Pacific region dominated the PPS market over the forecast period due to the rising automotive industry in the countries such as India, China, and others.

Polyphenylene Sulfide (PPS) Resin Industry Segmentation

Polyphenylene Sulfide (PPS) resin is a crystalline heat-resistant polymer that has a simple chemical structure made from benzene and sulfur. PPS is a type of thermoplastic polymer with high thermal and mechanical performance that has wide applications in various industries, such as automobiles, precise electronics, electrical devices, chemical containers, aerospace components, and others.

The Polyphenylene Sulfide (PPS) Resin Market is segmented by type, end-use industry, and geography. By type, the market is segmented into linear PPS, cured PPS, and branched PPS. By end-use industry, the market is segmented into automotive, electrical and electronics, industrial, aerospace, and other end-user industries. The report also covers the size and forecasts for the polyphenylene sulfide (PPS) resin market in 15 countries across major regions. For each segment, the market sizing and forecast have been done on the basis of revenue (USD million).

Type
Linear PPS
Cured PPS
Branched PPS
End-user Industry
Automotive
Electrical and Electronics
Industrial
Aerospace
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Polyphenylene Sulfide (PPS) Resin Market Size Summary

The Polyphenylene Sulfide (PPS) resin market is poised for steady growth, driven by its advantages over other thermoplastic resins and metals, particularly in automotive and electronic applications. The market experienced a downturn due to the COVID-19 pandemic, which halted manufacturing processes and reduced demand in the automotive sector. However, with the resumption of production across industries, the market is expected to regain its growth trajectory. The automotive industry remains the dominant segment, utilizing PPS resins extensively in various vehicle components. The increasing production of lightweight electric vehicles presents a significant opportunity for market expansion. Despite the high cost of PPS resins posing a challenge, the material's high-performance properties, such as temperature resistance and heat cycle performance, continue to drive its adoption in sectors like electronics and aerospace.

The Asia-Pacific region holds the largest market share, fueled by the burgeoning automotive and electronics industries in countries like China and India. The region's dominance is supported by significant investments from global automakers and the rapid development of electric vehicles, particularly in China, where government initiatives are promoting a shift away from fossil fuels. The Indian market is also witnessing robust growth, with initiatives like the 'Make in India' program boosting domestic manufacturing and demand for PPS resins. The global PPS resin market is highly consolidated, with major players such as TORAY INDUSTRIES, INC., DIC Corporation, and Celanese Corporation leading the industry. Recent expansions and product launches by these companies indicate a strategic focus on meeting the growing demand for engineering plastics and applications in electronics and telecommunications.

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Polyphenylene Sulfide (PPS) Resin Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for PPS Resins in Automotive Industry

      2. 1.1.2 Advantage PPS Resin-based Products over Other Thermoplastic Resin-based Products

    2. 1.2 Restraints

      1. 1.2.1 Declining Automotive Production

      2. 1.2.2 Impact of COVID-19 Pandemic

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Linear PPS

      2. 2.1.2 Cured PPS

      3. 2.1.3 Branched PPS

    2. 2.2 End-user Industry

      1. 2.2.1 Automotive

      2. 2.2.2 Electrical and Electronics

      3. 2.2.3 Industrial

      4. 2.2.4 Aerospace

      5. 2.2.5 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Polyphenylene Sulfide (PPS) Resin Market Size FAQs

The Polyphenylene Sulfide (PPS) Resin Market is projected to register a CAGR of less than 5% during the forecast period (2024-2029)

DIC Corporation, Solvay, Celanese Corporation, NHU Materials Co. and TORAY INDUSTRIES, INC. are the major companies operating in the Polyphenylene Sulfide (PPS) Resin Market.

Polyphenylene Sulfide (PPS) Resin Market Report Snapshots

Polyphenylene Sulfide Resin Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)