New York, NY -- (ReleaseWire) -- 10/31/2014 --Polyphenylene sulfide (PPS) market is expected to grow over the forecast period due its application as a high performance thermoplastic (HPTPs). Global demand is expected to exceed 150 kilo tons by 2020 growing at a double digit CAGR from 2014 to 2020. HPTPs are high price and low volume polymers making them suitable for a variety of niche applications which requires superior properties. PPS is mostly compounded with glass and carbon fiber in order to improve its mechanical properties. PPS demand is mainly driven by its end use industries in emerging economies of Asia Pacific (India and China) and Latin America (Argentina and Brazil).
A major restraint is the high price which can hamper growth of market over the forecast period. PPS market suffered a decline in demand during recession due to decrease in demand for automotive and other electrical and electronic appliances.
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PPS finds applications in industries including electronics and electrical, automotive, filter bags, coatings, industrial, aerospace and defense. Filter bags were the largest segment accounting for about 50% of market share. Filter bags are used in different applications including the maintenance of low toxin level in flue gas and to prevent other harmful gases releasing into atmosphere by thermal power plant and coal fired power plant. With growing demand of power in emerging economies due to rapid urbanization and industrialization the requirement of power plant has increased which in turn will boost the demand of PPS over forecast period due to application in filter bags. PPS is used in different automobile parts including switches, pistons, engine components, coolant system and transmission components. With an increase in automobile industry in countries such as China, Brazil, India, Malaysia and Indonesia the demand is expected to grow over the forecast period.
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Some Key Findings:
- Asia Pacific was the largest PPS market accounting for about 75% of total market share in terms of volume. The region is expected to grow at a CAGR of over 11% due to rapid industrialization and increase in disposable income.
- Countries like China and India which are heavily dependent on thermal and coal fired power plant to meet their increasing power demand and growing automotive sector, will increase PPS market demand in region.
- European market is expected to have a stagnant growth over the forecast time period as there are less number of coal fired and thermal power plant in region
- PPS market in RoW was evaluated at over USD 32 million in 2013 and is expected to grow considerably over the forecast period due to growing industrialization and high automotive demand.
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Regional Overview:
This report covers the following regional markets:
- North America
- Europe
- Asia Pacific
- Rest Of World
Application Overview:
This report covers the following Application Segments
- Automotive
- Coatings
- Electrical and Electronics
- Filter and Filter Bags
- Industrial
- Others
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