Polyphenylene Sulfide (PPS) is a high-performance engineering thermoplastic featuring excellent thermal resistance, dimensional stability, and chemical and corrosion resistance. The plastic is commonly used for its non-flammability and self-extinguishing properties. Owing to its inherent flame retardant nature, PPS has widespread application in electrical and electronics components such as connectors, sockets, plugs, and interfaces. The global Polyphenylene Sulfide (PPS) Market is estimated to be valued at US$ 1.3 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand from electrical and electronics application is one of the key trends driving the growth of the PPS market. PPS is commonly used in diverse applications such as wire and cable coatings due to its self-extinguishing properties. Owing to its high heat resistance and dimensional stability, PPS enables electronics to efficiently function at high temperatures without melting or losing form. Furthermore, the plastic also prevents electronic components from short-circuiting. The ability of PPS to withstand heat and chemicals makes it suitable for applications involving corrosive fluids, molten metals, and welding atmospheres. Rapid urbanization and industrialization along with increasing demand for electronics from the automotive industry are fueling the consumption of PPS around the world.
The global polyphenylene sulfide (PPS) market is dominated by the automotive segment. PPS is increasingly used in automotive manufacturing owing to its excellent flame retardancy, heat resistance and dimensional stability properties. PPS resists high temperature without losing its shape and chemical resistance. This makes it ideal for under-the-hood applications like engine covers. The automotive segment accounts for over 30% share of the overall PPS market currently.
The Global Polyphenylene Sulfide (PPS) Market Demand is expected to witness high growth over the forecast period of 2023-2030. The market is projected to grow at a CAGR of 6.5% during this period.
Regional analysis: The Asia Pacific region currently dominates the global PPS market with a share of over 40%. This is primarily owing to the large automotive manufacturing bases and growing electronics industry in countries like China, India, South Korea and Japan. Rapid industrialization and infrastructure growth in these countries is driving the demand for PPS. The regional market is expected to witness the fastest growth over the coming years.
Key players operating in the polyphenylene sulfide (PPS) market are Nestle, Fresenius Kabi AG, Abbott, Danone S.A., Eli Lilly and Company. Nestle is one of the leading manufacturers of PPS resin globally. Fresenius Kabi AG offers various medical devices and infusion solutions made using PPS.
Source: Coherent Market Insights, Public sources, Desk research
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