New York, Sept. 11, 2019 (GLOBE NEWSWIRE) — The increasing incorporation of Polyphenylene Resin in Aerospace and Automotive Sectors, conventional material’s placement with Polyphenylene and the rising demand for Filter Bags have resulted in boosting polyphenylene market.
The Global polyphenylene market is forecast to reach USD 5.94 Billion by 2026, according to a new report by Reports and Data. The expansion of the market is attributed to a combination of various market factors.
One of the factors in this regards is the increasing expenditure on infrastructural projects by the governments of different nations. As an instance, at present, there are various airport construction projects being developed in China like Chengdu Shuangliu International Airport, Beijing Capital International Airport, and the Guangzhou Baiyun International Airport, among others. The increasing investments in such developmental projects are increasing the demand for polyphenylene. Furthermore, the expansion of the aerospace industry is further boosting the growth of the market. As an instance, Airbus had launched the largest passenger airliner- Airbus A380 that took its first flight in 2005. The mentioned advancements are a clear indication of the continuously evolving aerospace industry. In the manufacturing of this product, 50% of composites were used.
In addition to that, the automobile industry is witnessing growth and evolution like never before. With the development in this industry, there has been an increasing demand for lightweight, higher fuel efficiency, and lower emission products, which in turn increases the need for this polymer. Increased affordability and use of electronic products in developing regions is another factor which positively impacts the growth of the market.
In context to region, North America occupies a dominant market position. The market share held by this region is attributed to its well-established automotive industry, the aerospace sector, and the associated high demand for polyphenylene.
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Further key findings from the report suggest
- The polyphenylene market held a market share of USD 3.35 Billion in the year 2018. It is projected to witness a growth rate of 7.1% during the forecast period.
- In regards to Type, the Polyphenylene Sulfide (PPS) segment is leading the market that generated the highest revenue of USD 1.71 Billion in 2018, with the fastest CAGR of 7.6% during the forecast period. The revenue generated by the PPS is attributed to its extensive use because of its features like flexibility, high thermal resistance, chemical resistance, and mechanical characteristics. Complete recyclability of PPS and increased demand for environment-friendly products contribute to its growth rate.
- In context to End-user, the Automotive segment occupies the largest market share of 38.0% in 2018 with the fastest growth rate of 8.0% during the forecast period. The increasing demand for lightweight, fuel-efficient products in the automotive sector results in increased use of the polymer in this sector, which contributes to its occupied market share.
- While discussing End-user, it is mentionable here that the Electrical & Electronics segment occupies the third-largest market share of 23.0% in 2018 with a CAGR of 7.7% during the forecast period. The market share held by the Electrical & Electronics segment is attributed to increasing buying power of individuals, expansion of the electronics industry in developing nations and traits of polyphenylene like heat resistant, which result in its increased use in the electronics industry.
- In regards to region, North America occupies the second-largest market share of0% in 2018, with the second-highest CAGR of 7.6% during the forecast period. Factors like a well-established automotive industry, aerospace sector, and associated high demand for polyphenylene, supports the growth of the market in this region.
- Key participants include Tosoh Corporation, Toray Industries, Solvay, Kureha Corporation, DIC Corporation, Celanese Corporation, LG Chem, Saudi Arabia Basic Industries Corporation (SABIC), Ensigner, and China Lumena New Material.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/polyphenylene-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global polyphenylene market according to Type, End-user, Application, and Region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Polyphenylene Oxide/Polyphenylene Ether (PPO)/(PPE)
- Polyphenylene Sulfide (PPS)
End-user Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Electrical & Electronics
Application Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Filter Bag
- High-Performance Lubricants
- Engineering Plastics
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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