Global Polyphenylene Sulfide (PPS) Market Is Estimated To Witness High Growth Owing to Rising Demand from Automotive Industry

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Global Polyphenylene Sulfide (PPS) Market Is
Estimated To Witness High Growth Owing To
Increasing Demand from Automotive and Aerospace
Industries
Polyphenylene Sulfide (PPS) Market The global
Polyphenylene Sulfide (PPS) market is estimated
to be valued at USD 1.7 billion in 2022 and is
expected to exhibit a CAGR of 5.1 over the
forecast period of 2023-2028, as highlighted in a
new report published by Coherent Market
Insights. A) Market Overview Polyphenylene
Sulfide (PPS) is a high-performance engineering
plastic that offers excellent chemical
resistance, dimensional stability, and heat
resistance. It is extensively used in the
automotive, aerospace, electrical and electronics,
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• and industrial sectors. PPS is used in various
  applications such as fuel systems, electrical
  connectors, engine components, and filtration
  systems. Its unique properties make it a
  highly sought-after material in industries
  where high temperature and chemical resistance
  are required.
• Market Dynamics
• The growth of the global Polyphenylene
  Sulfide (PPS) Market can be attributed to two
  main drivers. Firstly, the increasing demand for
  lightweight and fuel-efficient vehicles in the
  automotive industry is driving the adoption of
  PPS in various applications such as engine
  components and fuel systems. PPS offers
  advantages such as weight reduction,
  improved fuel efficiency, and enhanced
  performance in high-temperature environments.
• Secondly, the growing aerospace industry is also
  contributing to the demand for PPS. PPS is
  widely used in aerospace applications due
  to its excellent thermal and chemical
  resistance properties. It is used in
  various aircraft components, including engine
  parts, fuel system components, and electrical
  connectors.
• Segment Analysis
• In terms of segment analysis, the automotive
  industry dominates the global Polyphenylene
  Sulfide (PPS) market. The automotive sector
  extensively uses
• PPS in various applications such as engine
  components, fuel systems, and electrical
  connectors. The demand for lightweight and
  fuel-efficient vehicles is
• driving the adoption of PPS in this industry.
  The electrical and electronics segment is also
  expected to witness significant growth due to the
  increasing use
• of PPS in electrical connectors, switches, and
  other electronic components.
• PEST Analysis
• Political Government regulations regarding
  emissions and fuel efficiency standards in the
  automotive industry can impact the demand for
  PPS. Stringent regulations can drive the adoption
  of lightweight materials such as PPS.
• Economic Economic growth in emerging
  economies and increased industrialization are
  expected to drive the demand for PPS in various
  sectors.

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• Social The increasing consumer demand for
  sustainable and environmentally friendly
  products is driving the adoption of PPS in
  industries such as automotive and aerospace.
• Technological Technological advancements in PPS
  manufacturing processes and material properties
  are expected to drive market growth.
• E) Key Takeaways
• The global Polyphenylene Sulfide (PPS) market is
  expected to witness high
• growth, exhibiting a CAGR of 5.1 over the
  forecast period, due to increasing demand from
  the automotive and aerospace industries.
• In terms of regional analysis, Asia
  Pacific is the fastest-growing and
• dominating region in the market, driven by the
  rapid growth of the automotive and electrical and
  electronics industries in countries such as
  China, Japan, and India.
• Key players operating in the global
  Polyphenylene Sulfide (PPS) market include
  Tosoh Corp., DIC Corp., Toray Industries Inc.,
  Kureha Corp., Solvay SA, China Lumena New
  Materials Corp., Lion Idemitsu Composites
  Co. Ltd., FORTRAN Industries LLC, Initz Co.
  Ltd., and Zhejiang NHU Special Materials. These
  companies are focusing on research and
  development activities to enhance their product
  portfolio and meet the increasing demand from
  various industries.
• In conclusion, the global Polyphenylene Sulfide
  (PPS) market is expected to witness significant
  growth over the forecast period. The increasing
  demand from the automotive and aerospace
  industries, coupled with technological
  advancements, is driving the adoption of PPS.
  Manufacturers and key players in the market are
  actively investing in research and development to
  introduce innovative products and gain a
  competitive edge.