PUBLISHER: The Business Research Company | PRODUCT CODE: 1425736
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425736
Polyphenylene Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on polyphenylene market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for polyphenylene? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The polyphenylene market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Polyphenylene encompasses polymers with the fundamental unit being a phenylene radical, primarily emphasizing polyphenylene oxide. These polymers boast heat and corrosion resistance, alongside substantial strength.
Polyphenylene exists in various forms, notably polyphenylene sulfide (PPS), polyphenylene ether or oxide (PPE or PPO), and other iterations. Among these, polyphenylene sulfide stands out as an engineering thermoplastic, renowned for its exceptional amalgamation of properties. Its applications span diverse industries including composites, engineering plastics, high-performance lubricants, filter bags, and numerous others. Its usage finds prevalence in automotive, electrical and electronics, industrial, coatings, and various end-use sectors.
The polyphenylene market research report is one of a series of new reports from The Business Research Company that provides polyphenylene market statistics, including polyphenylene industry global market size, regional shares, competitors with a polyphenylene market share, detailed polyphenylene market segments, market trends and opportunities, and any further data you may need to thrive in the polyphenylene industry. This polyphenylene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The polyphenylene market size has grown strongly in recent years. It will grow from $4.43 billion in 2023 to $4.84 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth observed during the historic period can be attributed to several factors. These include the escalating need for chemical resistance, strides made in polymer chemistry, the displacement of conventional materials, expansion within the electronics and electrical sectors, a rising demand for lightweight materials, the widening scope of chemical processing, and increased investments in research and development.
The polyphenylene market size is expected to see strong growth in the next few years. It will grow to $6.9 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The projected growth in the forecast period can be credited to several key factors. These encompass the rise of specialized applications, advancements in polymer processing techniques, heightened demand within the medical devices sector, an upsurge in renewable energy initiatives, the extended reach of polyphenylene applications within aerospace, the development of bio-based polyphenylene materials, and increased adoption in water treatment systems.
The surge in demand for polyphenylene is attributed to the need to replace conventional materials prevalent in various industries. Traditional materials like polyethylene and polyvinyl chloride are being substituted by biodegradable polyphenylene polymers. A survey conducted in 2022 by PLOS revealed a substantial inclination, with 42% of respondents actively avoiding plastic in daily use and 95% expressing the belief that bioplastics should either partly or entirely supplant conventional plastics. This shift in demand for material replacements serves as a catalyst for the growth of the polyphenylene market.
The automotive industry's escalating requirements are poised to drive the growth of the polyphenylene market. Polyphenylene finds extensive application within this sector due to its attributes such as high temperature resistance, mechanical strength, lightweight nature, electrical insulation properties, durability, and customization potential. Notably, statistics from the European Automobile Manufacturers Association for 2022 reported a global production of 85.4 million motor vehicles, marking a significant 5.7% surge from the previous year. Additionally, data from Brand Finance plc showcased a remarkable 10% increase in global automobile sector sales in 2022, reaching approximately 78 million units. This surge in the automotive industry is a key driver fueling the growth of the polyphenylene market.
A prevailing trend within the polyphenylene market is the focus on product innovations. Leading companies in the polyphenylene sector are directing efforts toward pioneering product solutions to fortify their market positions. An exemplar of this trend is evident in Saudi Basic Industries Corporation's (SABIC) launch in July 2022 of NORYL NHP8000VT3 resin, a polyphenylene ether (PPO)-based solution designed for insulation films in electric vehicle (EV) battery modules. The resin meets stringent standards, achieving UL94 V0 at a mere 0.25 mm thickness, offering exceptional flame retardance properties even in thinner film gauges.
Major players in the polyphenylene market are leveraging strategic partnerships to capitalize on expertise, cost sharing, and risk mitigation strategies. These partnerships involve collaboration between companies, pooling strengths and resources for mutual benefit and success. An instance of this strategy occurred in November 2021 when Solvay SA partnered with Labs AG. Their collaboration aims to develop materials, including CF-reinforced polyphenylene sulfide (CF/PPS) composites, catering to a wide spectrum of applications in automation, aerospace, and other industries.
In May 2021, Material & Design Solutions (MDS), a component supplier based in the United States specializing in sealing applications within high-temperature, high-pressure, and corrosive environments, completed the acquisition of APS Plastics' assets for an undisclosed sum. Through this acquisition, MDS gains access to six CNC lathes and five CNC mills previously owned by APS. These machines will be instrumental in MDS's production operations, facilitating the fabrication of components using thermoplastics such as Pektron PEEK, Texron PTFE, and other similar materials. APS Plastics, a US-based company, is recognized for its comprehensive capabilities in manufacturing custom plastic, metal, and composite parts.
Major companies operating in the polyphenylene market report are Toray Industries Inc., Solvay SA, Tosoh Corporation, DIC Corporation, Kureha Corporation, LG Chem, Celanese Corporation, Saudi Arabia Basic Industries Corporation, China Lumena New Materials Corporation, Ensinger Group, Chevron Phillips Chemical Company LLC, Asahi Kasei Corporation, Biesterfeld AG, Compagnie de Saint-Gobain SA, PolyOne Corporation, Emco Industrial Plastics, Initz Co. Ltd., LyondellBasell Industries N.V., Mitsubishi Chemical Advanced Materials, Nagase America LLC, RTP Company, Lehmann & Voss & Co. KG, AGC Chemicals Americas, Zyex Ltd., Guangzhou Engineering Plastics Industries, BASF, Saint-Gobain Performance Plastics, Sumitomo Bakelite Co. Ltd., Lion Idemitsu Composites Co. Ltd., SK chemicals, Chengdu Letian Plastics Co. Ltd.
Asia-Pacific was the largest region in the polyphenylene market in 2023. Asia-Pacific is expected to be the fastest-growing region in the polyphenylene market report forecast period. The regions covered in the polyphenylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the polyphenylene market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The polyphenylene market consists of sales of poly-para-phenylene and phenylene vinylene polymers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.