The global PPS Demand in 2016 was estimated to be about 82,406 tons which has grown by at a CAGR of 4.5% between 2005 and 2016. According to Prismane Consulting, Global PPS demand is expected to grow to nearly 1,52,670 tons by 2025, with a growth rate of 7%.
The demand for PPS was affected in 2008-2009 with market contracting by an average of 2%, however, the demand recovered steadily after that surpassing pre-recession level by 2010. In 2010, global demand exhibited strong growth, resulting in an improvement in the global utilization rate.
Asia-Pacific accounts for 65.4% of PPS demand and the region will increase its market share to 72.5% by 2025. North America’s market share has declined from 24% in 2005 to18% in 2016 while it is expected to further decline its market share to around 14% by 2025. Similarly, Western Europe will decline its current market share of 13% to around 11% in the long-term forecast. Central & Eastern Europe, South America and Middle East & Africa together account for less than 5% of the global PPS with a total consumption of around 2,713 tons in 2016. Together they are estimated to increase their consumption to 4,446 tons by 2025.
Key demand driver for PPS have been their application in automotive applications especially, in under-the-hood applications. In 2016, automotive applications constituted the largest demand for PPS accounting for nearly 40% of the total demand followed by electrical & electronics applications accounting for around 20% of the total demand. Automotive and Electrical & Electronics industry follows a similar trend in terms of demand growth of PPS resins. The demand for these two applications is forecasted to grow at a CAGR of 6% between the forecast years 2017-2025. Filter media accounted for around 16% of total PPS demand and is expected to grow at a CAGR of 9% between the forecast years. Aerospace & Defence Industry is estimated to experience strong growth and hence the use of PPS in Aerospace & Defence will grow at a CAGR of 10% and this will reflect in the market share of PPS which currently accounts for around 10%of the global PPS demand. By 2025, the market share for Aerospace & Defence will reach to 13% of the global demand. The use of PPS in industrial and other applications is estimated to maintain their market share which is around 8% and 5% respectively.