by Polyphenylene sulfide (PPS) is a high-performance plastic that exhibits excellent chemical resistance, dimensional stability, and strength properties. PPS finds wide applications in automotive, electrical & electronics, and industrial sectors. It is used to manufacture components facing critical conditions such as components exposed to high heat, chemicals, and pressure. Some of the commonly manufactured PPS parts include valves, valve guides, pump housings, seals, and bearings. The global polyphenylene sulfide 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 Dynamics:
The global polyphenylene sulfide market is primarily driven by its improved mechanical properties as compared to conventional plastics. PPS exhibits high strength and wear resistance along with excellent flame resistance and oil resistance. It has superior tensile strength, rigidity, and dimensional stability even under harsh operating conditions involving high heat, chemicals, and pressure. These properties make PPS ideal for use in applications facing critical operating environments in industries such as automotive, electrical & electronics, and industrial equipment. Additionally, advancements in PPS compounding are further enhancing its mechanical properties by adding fillers, impact modifiers, UV stabilizers etc. For instance, addition of carbon or glass fibers enhances tensile and flexural strength of PPS. Rapid industrialization in Asia Pacific is expected to generate significant demand for PPS from industrial equipment segment. Growing automotive production led by China, India is projected to propel automotive applications of PPS over the forecast period.
SWOT Analysis
Strength: Polyphenylene sulfide (PPS) has excellent thermal stability, chemical resistance and dimensional stability. It has high glass transition temperature of around 215°C. PPS can withstand continuous use at up to 200°C and short-term use at even higher temperatures. PPS also offers good wear resistance and dielectric properties.
Weakness: PPS is relatively costly compared to other conventional polymers such as polycarbonate and nylon. The processing and machining of PPS parts also requires more sophisticated equipment and is relatively difficult compared to other plastics. PPS has lower impact strength compared to engineering thermoplastics like polycarbonate and acrylonitrile butadiene styrene.
Opportunity: The electrical and electronics industry offers major growth opportunities for PPS. Its excellent dielectric properties make it suitable for applications in electric vehicles, solar photovoltaic modules and electronics. Growth in the automotive industry particularly in electric vehicles will augment the demand for PPS. The application of PPS is also expanding in the medical industry as it offers chemical resistance, high strength and thermal stability essential for medical devices.
Threats: Fluctuations in crude oil prices directly impact the prices of PPS raw materials thereby posing threats related to raw material price volatility. Stringent environmental regulations restricting the use of certain hazardous chemicals in plastic manufacturing also pose challenges to the PPS industry.
Key Takeaways
The Global Polyphenylene Sulfide (PPS) Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The opportunities in end-use industries such as automotive, electrical and electronics are driving the demand for PPS.
Regional analysis: Asia Pacific currently dominates the global PPS market and is expected to continue its dominance during the forecast period as well. China accounts for a major share of the APAC PPS market due to wide availability of raw materials. India is emerging as a fast-growing market for PPS in APAC on account of expansion of end-use industries like automotive and electronics. North America and Europe are other prominent markets.
Key players: Key players operating in the polyphenylene sulfide (PPS) market are Nestle, Fresenius Kabi AG, Abbott, Danone S.A., Eli Lilly and Company, Diabetain, Essens Wellness Technologies Private Limited, Medlife, BestSource Nutrition Pvt. Ltd., Inlife Pharma Pvt. Ltd., B Jain Pharmaceuticals Private Limited, PT Kalbe Farma Tbk, Natxtra, Unique Biotech Limited (UBL), Newtrition Plus Health & Wellness Pvt. Ltd., Venus Remedies Limited, Zemaica Healthcare.
Note:
Source: Coherent Market Insights, Public sources, Desk research
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