The Global Polyphenylene Sulfide (PPS) Market size is expected to reach $2.5 billion by 2030, rising at a market growth of 8.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,631.95 Hundred Tonnes experiencing a growth of 6.6% (2019-2022).
PPS possesses outstanding electrical insulating properties, making it an ideal choice for applications where preventing the flow of electric current between conductive materials is crucial. Its high resistivity and low dielectric constant contribute to effective electrical insulation, ensuring the reliable performance of electronic components. Consequently, the electrical and electronics segment would acquire nearly 23% of the total market share by 2030. The increased utilization of PPS is motivated by the electronics industry's relentless pursuit of miniaturization.
With the increasing worldwide emphasis on sustainability, manufacturers are pursuing materials that adhere to rigorous regulatory criteria and support the overarching objectives of environmental preservation. With its exceptional properties, PPS emerges as a strategic choice for manufacturers. Therefore, these factors can drive the demand for PPS in the upcoming years. Additionally, Automotive components often come into contact with various chemicals, including engine fluids and environmental factors. PPS's robust chemical resistance makes it well-suited for applications with common exposure to oils, fuels, and other automotive fluids. Thus, these aspects will help in the expansion of the PPS market.
However, the PPS production process relies on specific raw materials. Volatility can detrimentally impact PPS's overall production costs and market competitiveness due to fluctuations in the pricing and availability of these materials. Additionally, PPS manufacturers often source raw materials from global suppliers, introducing vulnerabilities related to geopolitical tensions, trade restrictions, and logistic challenges. Hence, these aspects can hamper the growth of the PPS market in the future.
PPS possesses outstanding electrical insulating properties, making it an ideal choice for applications where preventing the flow of electric current between conductive materials is crucial. Its high resistivity and low dielectric constant contribute to effective electrical insulation, ensuring the reliable performance of electronic components. Consequently, the electrical and electronics segment would acquire nearly 23% of the total market share by 2030. The increased utilization of PPS is motivated by the electronics industry's relentless pursuit of miniaturization.
With the increasing worldwide emphasis on sustainability, manufacturers are pursuing materials that adhere to rigorous regulatory criteria and support the overarching objectives of environmental preservation. With its exceptional properties, PPS emerges as a strategic choice for manufacturers. Therefore, these factors can drive the demand for PPS in the upcoming years. Additionally, Automotive components often come into contact with various chemicals, including engine fluids and environmental factors. PPS's robust chemical resistance makes it well-suited for applications with common exposure to oils, fuels, and other automotive fluids. Thus, these aspects will help in the expansion of the PPS market.
However, the PPS production process relies on specific raw materials. Volatility can detrimentally impact PPS's overall production costs and market competitiveness due to fluctuations in the pricing and availability of these materials. Additionally, PPS manufacturers often source raw materials from global suppliers, introducing vulnerabilities related to geopolitical tensions, trade restrictions, and logistic challenges. Hence, these aspects can hamper the growth of the PPS market in the future.
By Application Analysis
On the basis of application, the market is divided into automotive, electrical & electronics, industrial, aerospace, medical/healthcare, and others. In 2022, the electrical and electronics segment witnessed a 24% revenue share in the market. The electrical and electronics industry has been shifting towards lightweight materials with high performance to meet the demands of miniaturization and efficiency improvements. PPS, a lightweight and durable material, is well-suited for applications in connectors, sockets, and other electronic components. Hence, these aspects will assist in the growth of the segment.
By Type Analysis
Based on type, the market is divided into linear PPS, cured PPS, and branched PPS. In 2022, the cured PPS segment acquired 25% revenue share in the market. With the continuous growth of the electronics and electrical devices sectors, there is an increasing demand for materials like cured PPS that can withstand high temperatures and harsh operating conditions. As a result, there will be increased demand in the segment.By Regional Analysis
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific segment acquired 40% revenue share in the market. The Asia Pacific region, including countries like China and India, has been undergoing rapid industrialization and urbanization. This has led to increased demand for high-performance materials like PPS in construction, electronics, and industrial applications. Thus, these factors will boost the demand in the segment.Recent Strategies Deployed in the Market
- Jan-2024: DIC Corporation launched DIC.PPS MP-6060 BLACK, a plateable polyphenylene sulphide (PPS) compound, in collaboration with Japanese firms Tsukada Riken Industry Co., Ltd., and Yoshino Denka Kogyo, Inc. The new product can be chemically etched with a general-purpose solution like chromic acid, making it possible to produce plated PPS on existing plastic-plating production lines.
- Oct-2023: Toray Industries, Inc. has developed pellets, a technology that makes it possible to recycle glass fibre-reinforced polyphenylene sulphide (PPS-GFRP). The performance of pellets matches the initial performance of virgin resins. Additionally, this technology can deliver comparable mechanical strength to injection-grade mouldings wholly made with virgin material.
- Sep-2023: Solvay SA launched Ryton PPS ECHO polyphenylene sulphide (PPS) production at Kallo-Beveren, Belgium. Through this expanded portfolio of products, the company aimed to meet with customers, increasing efforts to reduce their scope, emissions, and carbon footprint without compromising processability.
- Feb-2023: Toray Advanced Materials Korea Inc., a wholly owned subsidiary of Toray Industries, Inc., will increase its annual production capacity for TORELINATM polyphenylene sulphide (PPS) resin by 5,000 metric tonnes at a plant in Gunsan, Korea, in December 2024. Through this expansion, the company will reinforce its comprehensive manufacturing of PPS, films, and fibres to cultivate applications for advanced.
- Jan-2021: Kureha Corporation has expanded its geographical presence by constructing a new production facility, to produce polyphenylene sulphide (PPS). Through this expansion, Kureha aimed to strengthen its position in the global market. Additionally, Kureha will further enhance its stable and efficient supply of differentiated and quality PPS resins.
List of Key Companies Profiled
- Solvay SA
- Toray Industries, Inc.
- Celanese Corporation
- SABIC (Saudi Arabian Oil Company)
- Tosoh Corporation
- DIC Corporation
- SK chemicals
- Kureha Corporation
- Teijin Limited
- RTP Company, Inc.
Market Report Segmentation
By Type (Volume, Hundred Tonnes, USD Billion, 2019-30)- Linear PPS
- Cured PPS
- Branched PPS
- Automotive
- Electrical & Electronics
- Industrial
- Aerospace
- Medical/Healthcare
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. Global Polyphenylene Sulfide (PPS) Market by Type
Chapter 6. Global Polyphenylene Sulfide (PPS) Market by Application
Chapter 7. Global Polyphenylene Sulfide (PPS) Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- Solvay SA
- Toray Industries, Inc.
- Celanese Corporation
- SABIC (Saudi Arabian Oil Company)
- Tosoh Corporation
- DIC Corporation
- SK chemicals
- Kureha Corporation
- Teijin Limited
- RTP Company, Inc.
Methodology
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