PPS is a high-performance engineering thermoplastic possessing properties such as selflubricating, dimensional stability, flame retardancy and electrical insulating properties. It has high resistance to chemicals, solvents and corrosion making it suitable for applications involving harsh chemical environments. PPS finds widespread usage in electronic components, automotive parts and industrial applications where high heat and chemical resistance is required. The growing electronics manufacturing and electric vehicle market is driving the demand for PPS.
The Global polyphenylene sulfide (PPS) Market is estimated to be valued at US$ 1.5 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the polyphenylene sulfide (PPS) market are Nestle, Fresenius Kabi
AG, Abbott, Danone S.A., Eli Lilly and Company, Diabetain, Essens Wellness Technologies
Private Limited, Medlife, BestSource Nutrition Pvt. Ltd., Inlife Pharma Pvt. Ltd., B Jain
Pharmaceuticals Private Limited, PT Kalbe Farma Tbk, Natxtra, Unique Biotech Limited (UBL), Newtrition Plus Health & Wellness Pvt. Ltd., Venus Remedies Limited, Zemaica Healthcare.
Polyphenylene Sulfide (PPS) Market size is growing due to the increasing usage of electronic devices as well as the rising production of electric vehicles. Properties such as heat resistance, chemical resistance, and dimensional stability make PPS ideal for electronic components requiring long-term performance at high temperatures.
Major players are expanding their production capacities and geographic presence to leverage the growth opportunities in Asia Pacific and Middle East & African regions. The demand for PPS is estimated to grow steadily especially in automotive, electrical & electronics and industrial application segments.
Market key trends
The key trend gaining prominence in the polyphenylene sulfide market is the increasing adoption in electric vehicles. PPS possesses properties like thermal stability, chemical resistance and self-lubrication making it ideal for electrical components in EVs operating under harsh environmental conditions. It is used as an insulator and housing material for batteries, electric motors and charging ports in electric vehicles. The rising EV sales and stringent emission norms are expected to drive the demand of PPS from automotive industry.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established brand value of existing players make the entry of new players difficult in this market.
Bargaining power of buyers: The presence of large numbers of buyers reduces their bargaining power due to availability of substitutes.
Bargaining power of suppliers: Polyphenylene Sulfide (PPS) Market challenges and opportunities are influenced by the dominance of a few leading players in supply, which increases their bargaining power against buyers in this market.
Threat of new substitutes: Limited direct substitutes provide less threat from substitutes.
Competitive rivalry: Intense competition exists among existing vendors to gain higher market share.
Geographical Regions
North America currently holds the largest share of the global PPS market in terms of value owing to high demand from end-use industries like automotive and electrical & electronics.
The Asia Pacific region is expected to witness the fastest growth over the forecast period driven by increasing consumption from developing nations like China and India supported by rapid industrialization and urbanization. Countries like China, Japan and South Korea are major producers and consumers of PPS in the region.
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