PUNE, India, April 30, 2018 /PRNewswire/ --
The report "Polyphenylene Market by Type (PPS, PPO/PPE), Application (Engineering Plastics, Filter Bag, Composites, High Performance Lubricants), End-Use Industry (Automotive, Electronics & Electrical, Industrial, Coatings), and Region-Global Forecast to 2023", published by MarketsandMarkets™, the global market is projected to reach USD 4.99 Billion by 2023. The global Polyphenylene Market is estimated to grow from USD 3.37 Billion in 2018 to USD 4.99 Billion by 2023, at a CAGR of 8.2% from 2018 to 2023. The market growth can be attributed to the rising demand for polyphenylene in automotive and aerospace industries and their increasing consumption in the filter bag application.
Browse 97 market data Tables and 34 Figures spread through 124 Pages and in-depth TOC on "Polyphenylene Market"
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Based on type, the PPS segment is projected to lead the Polyphenylene Market during the forecast period.
Based on type, the Polyphenylene Market has been divided into PPS, PPO/PPE, and others. They are used in different end-use applications such as automotive, industrial, electronics & electrical, and coatings, among others. The PPS resin segment is leading the Polyphenylene Market, in terms of value and volume. The PPO/PPE segment is expected to experience a considerable growth rate during the forecast period. PPO/PPE are characterized by exceptional heat, high dimensional & thermal stabilities, and electrical resistance, which make them ideal for various electrical components, automotive and household appliances.
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Based on end-use industry, the electronics & electrical segment is anticipated to grow at the highest CAGR during the forecast period.
Polyphenylene are used in various applications, such as electronics & electrical, automotive, industrial and coatings, among others. Based on end-use industry, the electronics & electrical segment is expected to grow at the highest CAGR during the forecast period. Resins possess a combination of various properties such as high heat, exceptional dimensional stability, low moisture absorption, electrical resistance, and chemical resistance, among others. Hence, these characteristics of polyphenylene make them preferred the material to be widely used in electronics & electrical and associated industries.
Based on application, the engineering plastics segment is expected to grow at the highest CAGR during the forecast period.
Polyphenylene are extensively used in various applications, such as filter bags, composites, engineering plastics, and high-performance lubricants, among others. This growth can be attributed to the increasing preference of engineering plastics in automotive, aerospace, and electrical & electronics industries, as they possess good mechanical and thermal properties than other commodity plastics, such as polystyrene, polypropylene, and polyethylene. Moreover, the growing consumer electronics industry is further fueling the demand for these resins globally.
APAC is expected to be fastest-growing Polyphenylene Market.
APAC is estimated to be the fastest-growing Polyphenylene Market. China is estimated to be the fastest-growing Polyphenylene Market in the APAC region. In recent years, this region has emerged as a hub for automobile production. Vehicle sales in China have increased tremendously in the past 5 years. The growth of other industries, such as electrical & electronics, are also contributing to the growth of the Polyphenylene Market in the country. In the past few years, China has emerged as a manufacturing hub for electronics goods with relatively low-cost raw materials and labor. This has led to huge investments in the manufacturing sector in the country.
Major players in the global Polyphenylene Market include Toray Industries (Japan), Solvay (Belgium), Tosoh Corporation (Japan), DIC Corporation (Japan), Kureha Corporation (Japan), Celanese Corporation (US), SABIC (Saudi Arabia), China Lumena New Material (China), and Ensigner (Germany).
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