Luton, Bedfordshire, United Kingdom, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Smart Containers market.
The global market for Polyphenylene was valued at USD 3.8 billion in 2021, and it is anticipated to reach USD 7.60 billion by 2029 at a CAGR of 8% during 2022-2029.
Polyphenylene is used in a wide range of industries, including automobiles, electronic and electrical parts, manufacturing, and coating. As a result, the market is being propelled forward by growth in the automotive sector and rising demand from the electronics and electrical industries in emerging economies.
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The expanding polyphenylene market and rising consumption of polyphenylene paints as a solution are two important factors expected to drive market demand for polyphenylene. PPS has a wide range of applications in the automotive industry, resulting in increased supply from auto-producing regions around the world. Other factors contributing to overall growth include filter bag automotive, which is increasing demand for polyphenylene in end-user industries such as manufacturing and transistors, petrochemical industry, and oil and gas, resulting in the global polyphenylene market expanding.
Recent Developments in some of the Key Players
- In June 2022, to increase capacity and capabilities at the production facility of its SK Biotek subsidiary in Swords, Dublin, SK Pharmteco has previously announced a two-phase, $35 million investment.
- In April 2022, DIC Corporation decided to change its sales prices for its DIC.PPS polyphenylene sulfide (PPS) products. The retail price of products shipping after April 25, 2022, will be higher.
- In May 2022, Kureha Corporation announced that US-based startup Claros Technologies, Inc. (Claros) and its wholly-owned subsidiary Kureha America Inc. had inked a joint development agreement to create a PFAS capture and destruction technology platform.
Expansion in end use industry is driving the Polyphenylene market in Asia-Pacific.
Asia-Pacific represents the largest market for polyphenylene. In countries, like China, Japan, South Korea, and India, the demand for polyphenylene has been increasing due to the established industrial base in the region. Asia-Pacific is also expected to be the fastest-growing Polyphenylene Market during the forecast period, with increasing demand from industries, like automotive and transportation, and electrical and electronics. Even though the Chinese automotive market declined in 2019, the electric vehicle segment witnessed huge growth.
Report Scope:
| Report Attribute/Metric | Details |
| Market Size | USD 3.8 billion in 2021 USD 7.60 billion by 2029 |
| CAGR | CAGR of 8% |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Historical Data | 2017 & 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Raw Material Type, Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Accumold LLC, Isometric Micro Molding, Inc., Makuta Micro Molding, Precimold Inc., MTD Micro Molding, Microsystems Precision Medical Moulds, Veejay Plastics Injection Molding Company, Knightsbridge Plastics Inc., Polymermedics Ltd., Manner Solutions for Plastics, Microdyne Plastics, Inc., SMC Ltd., and others. |
| Key Market Opportunities | Increasing competition soon because of emerging local players |
| Key Market Drivers | A newer grade of polyphenylene gains popularity hence increasing demand for polyphenylene market. |
The presence of large industry players carrying out strategic initiatives will drive Polyphenylene Market share.
The polyphenylene market key players include Toray Industries, Solvay, Tosoh Corporation, DIC Corporation, Kureha Corporation, LG Chem, Celanese Corporation, Saudi Arabia Basic Industries Corporation, China Lumena New Material, and Ensigner.
Browse Detailed Summary of Research Report with TOC:
https://exactitudeconsultancy.com/reports/10241/polyphenylene-market
Key Market Segments: Polyphenylene Market
Polyphenylene Market by Type, 2020-2029, (USD Million)
- Polyphenylene Sulfide (PPE)
- Polyphenylene Oxide/Polyphenylene Ether
- Others
Polyphenylene Market by Application, 2020-2029, (USD Million)
- Engineering Plastics
- Filter Bag
- Composites
- High Performance Lubricants
- Automotive
Polyphenylene Market by End User Industry, 2020-2029, (USD Million)
- Automotive
- Electronics and Electrical
- Industrial
- Coatings
Polyphenylene Market by Region, 2022-2029, (USD Million)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Key Highlights
- The global Polyphenylene Market for polyphenylene sulfide was valued at USD 3.8 billion in 2021, and it is anticipated to reach USD 7.60 billion by 2029 at a CAGR of 8%.
- The global Polyphenylene Market size is divided into three parts based on type, end-user, and region. The market for polyphenylene sulfide is further segmented based on type: linear PPS cured PPS and branched PPS.
- Based on the end-use industry, the market for polyphenylene sulfide is further segmented into automotive, electrical & electronics, industrial, aerospace, and others. The automotive sector dominates the market.
- From a regional standpoint, the market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. Asia-Pacific is anticipated to dominate the Polyphenylene Market.
Key Market Trends
Increasing Demand from Automotive and Transportation Segment
- Polyphenylene is processed into its derivatives, like polyphenylene sulfide (PPS), polyphenylene oxide (PPO), and polyphenylene ether (PPE). Polyphenylene derivatives are preferred in electric auto parts that require higher temperature stability.
- In recent years, PPS successfully replaced metal, aromatic nylons, phenolic polymers, and bulk molding compounds in a wide variety of engineered vehicle components.
- Polyphenylene derivatives become the ideal choice for automotive parts that are exposed to high temperatures. These can provide high strength while being light in weight. These are used in vehicle components, like electrical connectors, ignition systems, lighting systems, fuel systems, hybrid vehicle inverter components, and piston
- According to the Organisation Internationaledes Constructeurs d'Automobiles(OICA), in 2021, around 80.15 million vehicles were produced across the globe, witnessing a growth rate of 3% compared to ~77.71 million vehicles in 2020, thereby, enhancing the demand for Polyphenylene Market, which are employed for various automotive parts.
- In Asia-Pacific, China, and India are the major producers of vehicles. According to OICA, China has the largest automotive production base in the world, with a total vehicle production of 26.08 million units in 2021, registering an increase of 3% compared to 25.23 million units produced last year.
- Further, in Europe, in 2021, France produced 13,51,308 vehicles, which increased by 3%, compared to 13,16,371 vehicles produced in 2020, thereby, increasing the demand for the studied Polyphenylene Market. Moreover, in 2021, Italy’s automotive production increased by 2% over 2020 and reached 7,95,856 vehicles.
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