According to a new report, published by KBV research, The Global Polyphenylene Sulfide (PPS) Market size is expected to reach $2.5 billion by 2030, rising at a market growth of 8.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,631.95 Hundred Tonnes experiencing a growth of 6.6% (2019-2022).
The market stands at the forefront of the high-performance polymer landscape, characterized by its exceptional thermal and chemical resistance, mechanical strength, and versatility. This advanced polymer has carved a niche for itself across diverse industries. It is invaluable in applications requiring reliable performance in severe circumstances due to its special combination of characteristics.
In addition, the industrial sector echoes the resilience of PPS, as it finds applications in various industrial components that demand resistance to chemicals, high temperatures, and mechanical stress. From filter fabrics and pump components to valves and gaskets, PPS stands tall as a material of choice for manufacturers navigating the challenges of industrial environments. Its robust nature ensures longevity and reliability in demanding industrial processes.
The Linear PPS segment led the Global Polyphenylene Sulfide (PPS) Market by Type in 2022; thereby, achieving a market value of $1.46 Billion by 2030. The automotive industry is a significant consumer of PPS, particularly in components like connectors, sensors, and under-the-hood applications. Linear PPS, with its favorable properties, may see increased demand in the automotive sector, especially in applications where chemical resistance and high-temperature stability are critical. Hence, these factors can assist in the growth of the segment.
The Automotive segment is growing at a CAGR of 7.1 % during the forecast period. The growing emphasis on electric mobility has accelerated the demand for lightweight materials in EV components. PPS is suitable for applications in electric vehicles due to its electrical insulating properties, thermal stability, and compatibility with the requirements of EV systems. Therefore, the segment will grow rapidly in the upcoming years.
Full Report: https://www.kbvresearch.com/polyphenylene-sulfide-market/
The Asia Pacific region dominated the Global Polyphenylene Sulfide (PPS) Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.03 Billion by 2030. The North America region is anticipated to grow at a CAGR of 7.8% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 8.3% during (2023 - 2030).
By Type (Volume, Hundred Tonnes, USD Billion, 2019-30)
By Application (Volume, Hundred Tonnes, USD Billion, 2019-30)
By Geography (Volume, Hundred Tonnes, USD Billion, 2019-30)
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