The report "Polyphenylene Sulfide Market by Application (Automotive, Electrical & Electronics, Filter Bags, Aerospace, Industrial, Coatings, and Others) and by Region (Asia-Pacific, North America, Europe, and Row) - Global Forecast to 2020", The global Polyphenylene Sulfide (PPS) market size is estimated to grow from USD 995.1 Million in 2015 to USD 1,574.7 Million by 2020, at a CAGR of 9.6%.
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Key content of this market:
The market is driven by increasing demand for PPS in emerging markets and high demand from the automotive, electrical & electronics, and filter bag application segments. Among all the regions, Asia-Pacific is projected to witness strong growth in the next five years. Growth in this region can be attributed to high demand from emerging markets such as China and India.
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The global Polyphenylene Sulfide (PPS) market size is estimated to reach USD 1,574.7 Million by 2020 at a CAGR of 9.6% between 2015 and 2020. The report segments the polyphenylene sulfide market by application into automotive, electrical & electronics, filter bags, aerospace, industrial, coatings, and others, and by region into Asia-Pacific, North America, Europe, and RoW. Base year considered for the study is 2014, while the forecast period is between 2015 and 2020.
Automotive and filter bags, the largest applications of PPS
The growing popularity of PPS over metals and conventional polymers in various applications play a significant role in driving the market. Automotive, electrical & electronics, and filter bags are the most its important applications. A normal gasoline automotive requires nearly 1 kg of PPS, whereas hybrid and electric automotive require nearly 5 kegs of PPS, which is used as a metal replacement. PPS helps decrease the weight of automotive, which enhances the efficiency. Globally, 15 governments have joined forces for encouraging the use of electric and hybrid vehicles, thus driving the PPS market
Rising demand in Asia-Pacific is the major driver for growth of PPS market
In 2015, Asia-Pacific is estimated to account for the largest market share in terms of volume. Robust demand in Asia-Pacific and increasing consumption for PPS filter bags shall be the major driving factors for the global PPS market during the forecast period. China is one of the leading consumers of PPS worldwide with increased demand from the filter bags application.
PPS is used in various applications, such as automotive, electrical & electronics, filter bags, aerospace, industrial, coatings, and others. In 2014, the automotive segment accounted for the largest market share, in terms of volume, followed by filter bags and electrical & electronics. PPS is used in the automotive industry for manufacturing under-the-hood components, including engines and auto body parts operating under high temperature and pressure environments.