Global Polyphenylene Sulfide (PPS) Market is valued approximately at USD xx billion in 2020 and is anticipated to grow with a healthy growth rate of more than 9% over the forecast period 2021-2027. Polyphenylene Sulfide (PPS) is widely used in electrical and electronics industry and in manufacturing of automobile components due to its exceptional properties such as chemical resistance, corrosion resistance and easy mobility. Growing use in manufacturing filter bags and dust chambers used in coal power plants, growing use in automobile components due to rising sales of automobiles and high preference for PPS over metal due to weight reduction has forwarded market towards growth. For instance, according to The Federation of Automobile Dealers Association in October 2020, vehicle registration in India grew to 14,13,539 units as compared to 13,44,886 units in September 2020. Furthermore, favorable government initiatives to encourage people to purchase electronic vehicles and growing acceptance in aerospace and defense in manufacturing of fuselage and wings are expected to benefit the growth in coming years. For instance, For instance, according to India Brand Equity Foundation (IBEF) report of 2019, government of India in the union budget announced income tax rebates of up to 1.5 lakh (USD 0.002085 million) to customers on interest paid on loans to buy electric vehicles, with a total exemption benefit of 2.5 lakh (USD 0.003475 million) over the entire loan period. However, high cost and availability of substitutes may act as a restraint during forecast period.
Asia Pacific hold the largest market share among North America, Europe, Latin America, Asia Pacific and Rest of the World, due to growing demand of PPS from industries such as automotive, aerospace, electronics and others. Whereas, North America is expected to grow with the highest growth rate owing to growing useof PPS in air and waste management.
Major market player included in this report are:
Kolon Plastics Inc.
NHU Materials Co.
Polyplastics Co. Ltd
Toray Industries Inc.
Fortran Industries Private Limited
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Electrical & Electronics
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Polyphenylene Sulfide (PPS) Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers