NEW YORK, May 16, 2016 /PRNewswire/ -- The global Polyphenylene Sulfide (PPS) market size is estimated to reach USD 1,574.7 million by 2020 at a CAGR of 9.6% between 2015 and 2020. High temperature resistance, chemical resistance, flame retardancy, good electrical properties, and high dimensional stability are the key properties of PPS, which make it the preferred material for various applications. PPS provides industries with immense development opportunities of newer materials, which have enhanced properties and improved toughness, thus driving the market growth.
"Automotive and filter bags are the largest applications of PPS"
Growing popularity of PPS over metals and conventional polymers in various applications play a significant role in driving the market. Automotive, electrical & electronics, and filter bags are the most important applications of PPS. This material helps decrease the weight of automotive, which enhances the efficiency. Globally, 15 governments have collaborated to encourage the use of electric and hybrid vehicles. This helps increase the sales of these vehicles in which nearly 5 kgs–6 kgs of PPS are used. The PPS filter bags industry is seeing high growth in Asia-Pacific, with increasing consumption in coal-fired power plants and stringent regulations to reduce particulate matter emissions in China. With the limit set to 50mg/m3, the PPS filter bag application shall replace the conventional filters being used, further driving the PPS market in the country.
"Rising demand in Asia-Pacific is the major growth driver for PPS market "
In 2015, Asia-Pacific was the largest market for PPS. The region is projected to register the highest growth rate, both in terms of value and volume, owing to high demand from China. China is the largest market for PPS globally with major demand from filter bags application. Asia-Pacific is also the largest manufacturer of PPS with the market being dominated by Japanese players. The region also drives the market owing to the presence of emerging markets, availability of raw materials, and lower labor costs.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments gathered through secondary research.
The break-up of primary interviews is given below.
- By Company Type - Tier 1 – 34%, Tier 2 – 33%, and Others – 33%
- By Designation - C level – 12%, Director level – 25%, and Others – 63%
- By Region - North America – 30%, Europe – 27%, Asia-Pacific – 32%, and RoW- 11%
The key companies profiled in this market research report are DIC Corp. (Japan), Tosoh Corp. (Japan), Toray Industries Inc. (Japan), Kureha Corp. (Japan), Solvay SA (Belgium), Fortron Industries LLC (U.S.), China Lumena New Materials Corp. (China), Initz Co. Ltd (South Korea), Zhejiang NHU Special Materials (China), and Lion Idemitsu Composites Co. Ltd. (Japan).
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the PPS market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
2. The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business. The competitive landscape section includes expansions, new product developments, joint ventures, and mergers & acquisitions.
Read the full report: http://www.reportlinker.com/p03596047-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: firstname.lastname@example.org
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/polyphenylene-sulfide-market-by-application-and-by-region---global-forecast-to-2020-300269376.html