Polyphenylene Sulfide Market
The global Polyphenylene Sulfide market was valued at USD 1.7 billion in 2023 and is projected to cross USD 3.2 billion by 2032, growing at a CAGR of 6.6% from 2024 to 2032. One of key demand factor driving the Polyphenylene Sulfide market is its growing use in end-use sectors, especially automotive and electrical & electronics.
Introduction
Polyphenylene Sulfide made available commercially by Chevron Phillips in the early ’70s, is now an important category of engineering plastic. A characteristic polymer with exceptional chemical resistance and high-temperature stability can be used in a wide array of industrial applications. Be it automotive, electrical & electronics, industrial applications, filter media, coatings, and other niche applications, Polyphenylene Sulfide can be the preferred polymer due to its properties like chemical resistance and high-temperature stability and price when compared to other high-end engineering plastics. With different grades available in the market, the majority of the commercially available Polyphenylene Sulfide is compounded, with filler quantity lying between 30 to 60% depending upon the application.
Global Polyphenylene Sulfide Demand, By Application (KiloTons)
Source: Secondary & Primary Research and Prismane Consulting Estimates
Engineering Plastics always gain an edge where metals are not an option. Injection molding makes it easier to make complex parts compared to casting. So, with ease and freedom of design with great performance, Polyphenylene Sulfide can be a material of choice for various applications. The grade and filler material of a particular engineering plastic depends on the area of application. Companies have been developing newer and stronger grades for various end-uses. The majority of the research and development is based on providing materials with ease of processing and more efficient manufacturing.
Polyphenylene Sulfide has already entered the automotive, aerospace, industrial, and filter media industry. Industries such as medical devices/healthcare, food & beverages where there has been increasing use of plastics are the major areas to be explored for Polyphenylene Sulfide. These industries account for a small share of the global market and companies have been investigating the feasibility of the use of Polyphenylene Sulfide in various other untapped areas.
While comparing Polyphenylene Sulfide to its competitors,
polyetherimide (PEI) and polyether ether ketone (PEEK) have better physical and chemical properties but are not as economical as Polyphenylene Sulfide. Polyphenylene Sulfide is also said to be the common man’s PEEK. Compared to Polyphenylene Sulfide,
PEEK, from the polyether ketone family accounts for a very small market share in high-end-engineering plastics.
Polyphenylene Sulfide Manufacturing Process
Para-dichlorobenzene is the major raw material to produce Polyphenylene Sulfide. Para-dichlorobenzene (p-DCB) is a chlorinated aromatic monomer produced by reacting chlorine with benzene. Chlorinated solvents have various environmental concerns responsible for groundwater and soil contamination. PCBs and dioxin can also cause cancer and other human health hazards. The US-based company’s Standard Chlorine Chemical Company, Inc. Kearny; N.J. site has been listed as a Superfund site for which the EPA expects the spend USD 11 Million for clean-up.
Considering the economic and ecological aspects, companies have been finding economical ways to modify existing plants and shift product slates. Maximum para-dichlorobenzene selectivity can be achieved using the right catalyst, while also finding acceptable commercial outlets for by-products. Shutdowns of various chlorinated solvent plants in the US and Europe have been one of the major reasons for delays in the production of Polyphenylene Sulfide. This has led manufacturers to build integrated plants that produce p-dichlorobenzene, and sodium hydrosulfate which are the raw materials for Polyphenylene Sulfide resin.
Polyphenylene Sulfide Capacity
The global Polyphenylene Sulfide capacity stood at 163 Kiloton in 2023 and it is further projected to cross 200 Kiloton by the end of the forecast period. Some of the prominent PPS manufacturers in the world include Solvay SA, DIC Corporation, Fortron Industries, Kureha Corporation, Tosoh Corporation, Lion Idemitsu Composites, SK Chemicals (Initz Co. Ltd.) and Toray Industries Inc. Toray stands out as the largest producer of Polyphenylene Sulfide globally, accounting for around 18% of the total capacity, followed closely by DIC Corporation, which holds a 15% share of the market. The Polyphenylene Sulfide market has seen a remarkable expansion in recent times and is anticipated to sustain its upward trajectory in the coming years. This growth can be attributed to the increasing demand from various sectors, including automotive, electrical & electronics, and industrial end-use sectors. Moreover, the market's positive outlook is further bolstered by the expanding manufacturing capabilities in emerging economies.
Asia-Pacific dominates as the largest global Polyphenylene Sulfide producer, accounting for three-fourths of the global production capacity in 2023. The region's share is projected to further increase to 78% by 2032 due to announced expansions in Polyphenylene Sulfide production capacity. Toray Industries has announced its plans to expand the PPS resin capacity by 5 kilotons at its Gunsan facility in South Korea. The completion of this expansion is expected by early 2025, which will result in a total annual PPS resin production capacity of 13.6 kilotons in South Korea and 32.6 kilotons globally for the company.
Additionally, Toray Industries aims to enhance its sodium sulfide production, a crucial raw material for PPS, by nearly 5 kilotons. Furthermore, in 2021, the company successfully completed a 5 kilotons expansion of Polyphenylene Sulfide resin capacity at its Iwaki facility in Japan, bringing its total Polyphenylene Sulfide production capacity to 15.7 kilotons. This expansion positions Toray Industries to effectively meet the growing demand for PPS in the automotive and electrical & electronics sectors. China is the largest Polyphenylene Sulfide consumer in the world accounting for more than 30% of the global Polyphenylene Sulfide demand followed by Japan. Asia Pacific on the back of China and Japan accounts for more than 50% of the global Polyphenylene Sulfide demand. The region is projected to witness strong growth in the forecast period driven by increasing demand for increasing demand of lightweight and high-performance materials in the electrical & electronics and automotive industries.
Global Polyphenylene Sulfide Demand, By Region (Kilo Tons)
Source: Secondary & Primary Research and Prismane Consulting Estimates
Polyphenylene Sulfide Demand, By Region
PPS is a high-performance engineering plastic known for its excellent thermal and chemical resistance properties. The demand for Polyphenylene Sulfide varies by region and is influenced by several factors, including the performance of end-use industries such as automotive, electrical and electronics, industrial, and others.
In 2023, Asia Pacific was the largest market for PPS, accounting for over three-fourths of the global PPS demand. Western Europe was the second largest market closely followed by North America, while Central & Eastern Europe, Central & South America, and the Middle East & Africa accounted for the remaining share. China, being the largest producer and consumer, contributed to over 40% of the global PPS demand and is projected to maintain an annual average growth rate of 7% during the long-term forecast period.
Global Polyphenylene Sulfide Demand, By Application (Kilo Tons)
Source: Secondary & Primary Research and Prismane Consulting Estimates
Polyphenylene Sulfide Demand, By Application
The main driving factor for the demand for Polyphenylene Sulfide is its widespread use in automotive applications, particularly in under-the-hood applications. In 2023, the automotive sector represented the largest market, accounting for more than 40% of the total Polyphenylene Sulfide market, followed by electrical & electronics applications. Both the automotive and electrical & electronics industries show a similar growth trend in terms of
Polyphenylene Sulfide resin demand. Filter media accounted for about 18% of the total Polyphenylene Sulfide market and is expected to grow at a CAGR of 8% during the forecast period. The Aerospace & Defense industry is anticipated to experience robust growth, leading to an increase in the utilization of Polyphenylene Sulfide at a CAGR of 10%. As a result, the market share of Polyphenylene Sulfide in this industry, is expected to reach 13% by 2032. The use of Polyphenylene Sulfide in industrial and other applications is estimated to maintain their respective market shares, which currently stand at approximately less than 10% of the global Polyphenylene Sulfide market.
Polyphenylene Sulfide Key players
Solvay SA, Fortron Industries, DIC Corporation, Kureha Corporation, Toray Industries Inc., Tosoh Corporation, Lion Idemitsu Composites, SK Chemicals, and Zhejiang NHU Special Materials Co., Ltd. are some of the key
Polyphenylene Sulfide players.
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