Polyarylsulfone Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The polyarylsulfone market is expected to grow at a CAGR of over 6% during the forecast period. Major factor driving the market studied is the rapidly growing demand of polyarylsulfone from automotive industry. On the flip side, stringent regulations on the hazardous nature of raw material and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.

Key Highlights

• Growing demand of polyarylsulfone as membrane in water treatment facilities is forecasted to offer various opportunities for the growth of the market over the forecast period.
• Polyarylsulfone from automotive industry is expected to dominate the market studied over the forecast period.
• Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.

Key Market Trends

Growing Demand of Polyarylsulfone from Automotive Industry

• Polyarylsulfones are a family of high performance thermoplastics which contain an aryl-SO2-aryl subunit and are known for their toughness and stability at high temperatures.
• The amorphous high temperature polymers of the polyarylsulfone family are characterized by extraordinary, inherent flame retardancy and high transparency.
• Polyarylsulfone can be used in the temperature range from -100 to +200 °C and are used for electrical equipment, construction and medical technology.
• Polyarylsulfone have a wide range of applications in automotive industry, PESU for example is used in the cooling-water and oil circuits in vehicle electrics (housing and connectors) and transmissions.
• Owing to a huge growth in population, rising per capita income as well as economic development in countries, like China, India, and other ASEAN countries, will drive the automotive industry significantly in Asia-Pacific region.
• Hence, owing to the above-mentioned factors, the application of polyarylsulfone from automotive industry is likely to dominate during the forecast period.

Asia-Pacific Region to Dominate the Market

• Asia-Pacific region is expected to dominate the market for polyarylsulfone during the forecast period. The rising demand of polyarylsulfone from automotive and aviation industry in developing countries like China, Japan and India is expected to drive the demand for polyarylsulfone in this region.
• The largest producers of polyarylsulfone has its presence in the Asia-Pacific region. Some of the leading companies in the production of polyarylsulfone are BASF SE, Solvay, SABIC, and Mitsubishi Chemical Advanced Materials, and Sumitomo Chemical Company among others.
• The Indian government aims to make automobile manufacturing the main driver of ‘Make in India’ initiative, as it expects the passenger vehicles market to triple to 9.4 million units by 2026, as highlighted in the Auto Mission Plan (AMP) 2016-2026.
• Increasing civil aircraft fleet steadily boosts the demand of polyarylsulfone from China. Moreover, in the next 20 years, the Chinese airline companies are planning to purchase about 7,690 new aircraft, which are valued at about USD 1.2 trillion.
• Owing to the above-mentioned factors, the market for polyarylsulfone in the Asia-Pacific region is projected to grow significantly during the study period.

Competitive Landscape

The global polyarylsulfone market is partially consolidated in nature with only few major players dominating the market. Some of the major companies are BASF SE, Solvay, SABIC, and Mitsubishi Chemical Advanced Materials, and Sumitomo Chemical Company among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support