November 4th, 2021/Industry News Global/ -- This new report from Stratview Research analyses the Polyphenylene Sulfide Market over the trend period from 2014 to 2019 and the forecast period from 2020 to 2025. The insights of the report shall enable informed decision-making and strategy formulation for the near future to capitalize on the opportunities.
Polyphenylene Sulfide Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Polyphenylene Sulfide Market is no different. Derived from the previous market scenario, the Polyphenylene Sulfide Market is likely to witness an impressive CAGR of 5.4% during the forecast period but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
Key Players:
• Solvay SA
• Tosoh Corporation
• DIC Corporation
• Toray Industries Inc.
• Kureha Corporation
• Fortron Industries LLC
• Initz Co. Ltd.
The Polyphenylene Sulfide Market is segmented by–
• By Application Type (Automotive, Electrical & Electronics, Filter Bags, Aerospace, Industrial, Coatings, and Others)
• By Region (North America, Europe, Asia-Pacific, and Rest of the World)
 
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By Application Type
Based on the application type, the market is segmented as automotive, electrical & electronics, filter bags, aerospace, industrial, coatings, and others. The automotive segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period. The wide use of polyphenylene sulfide in the automotive industry for manufacturing under-the-hood components, including engines and auto body parts operating under high temperature and pressure environments is driving the growth of the segment.
By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for polyphenylene sulfide during the forecast period, with China, Japan, India, and South Korea being the major countries with enormous growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as automotive, electrical & electronics, aerospace, and others, which is generating huge demand for polyphenylene sulfide and the presence of a large number of PPS manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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