The Global Polyphenylene Sulfide (PPS) Market Is Driven By Increasing Demand For Lightweight And Dur

Author : Purvaja Jadhao | Published On : 15 Jan 2024

Polyphenylene sulfide (PPS) is a semi-crystalline high-performance thermoplastic that is lightweight and durable. PPS offers excellent electrical insulation, chemical resistance and fire safety. It is used in various applications such as automotive, electrical & electronics, industrial, and aerospace industries. In automotive industry, PPS is used to produce various components such as fuel system components, sensors, switches and connectors owing to its resistance to high temperatures and corrosive fluids. The demand for lightweight and durable plastics in automotive industry is growing significantly which is driving the adoption of PPS.

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:

One of the key trends in the PPS market is increasing R&D for new applications. Manufacturers are investing heavily in R&D to expand the application purview of PPS. Ongoing research is exploring new areas such as medical devices, coatings, and separators for lithium-ion batteries where PPS can offer superior performance over other plastics. For instance, PPS is being evaluated for use in battery separators owing to its high melting point, shutdown function, excellent chemical resistance and dimensional stability even at high temperatures. This is expected to boost the demand for PPS over the forecast period.

Porter's Analysis
Threat of new entrants: The PPS market requires large capital investment for R&D and production facilities which acts as a entry barrier for new players.
Bargaining power of buyers: The presence of numerous established brands gives buyers a variety of options to choose from thereby increasing their bargaining power.
Bargaining power of suppliers: Major raw material suppliers possessing key technologies can negotiate on price with manufacturers.
Threat of new substitutes: Continuous innovation has increased substitute products like polyphenylene ether (PPE), polyamide (PA) and others posing threat to the PPS market.
Competitive rivalry: The competition is intense with key players differentiating through innovation, quality and customer service.

Key Takeaways
The Global Polyphenylene Sulfide (PPS) Market Demand is expected to witness high growth.

Regional analysis: Asia Pacific dominates the global PPS market and is expected to maintain its lead during the forecast period. This is attributed to presence of large automotive and electrical & electronics industries in countries like India, China and Japan. North America and Europe are also lucrative markets for PPS.

Key players operating in the polyphenylene sulfide 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. These companies have wide distribution network in different regions.

For more insights, Read- https://www.insightprobing.com/polyphenylene-sulfide-pps-market-share-analysis/