Market Size of Asia Pacific Polyphenylene Sulfide (PPS) Composites Industry
Study Period | 2019-2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 606.90 Million |
Market Size (2029) | USD 972.05 Million |
CAGR (2024 - 2029) | 9.00 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific PPS Composite Market Analysis
The Asia-Pacific Polyphenylene Sulfide Composites Market size is estimated at USD 606.90 million in 2024, and is expected to reach USD 972.05 million by 2029, growing at a CAGR of greater than 9% during the forecast period (2024-2029).
The COVID-19 pandemic had a complex and multifaceted impact on the Asia-Pacific Polyphenylene Sulfide (PPS) composites market. While it presented challenges due to supply chain disruptions, demand fluctuations, and economic uncertainty, it also spurred innovation, highlighted new opportunities in healthcare and sustainability, and potentially accelerated the adoption of beneficial technologies in manufacturing. The long-term impact of the pandemic remains to be seen, but the market's adaptability and the ongoing need for high-performance materials like PPS composites suggest a promising future.
- PPS composites offer exceptional strength, heat resistance, and lightweight properties, making them ideal for aircraft components, engine nacelles, and radomes. The growing aerospace industry in Asia, particularly China and India, drives demand for PPS composite materials.
- On the flip side, the processing and manufacturing of PPS composites often involve complex and labor-intensive techniques, driving up costs and may act as a hindrance to the growth of the market studied.
- Implementing automation and digitalization tools in PPS composite production can streamline processes, reduce waste, and improve product consistency, leading to cost savings and increased market penetration. These advancements in the market are expected to aid the market growth opportunities in the future.
- China is expected to be the largest market for polyphenylene sulfide (PPS) composites in the Asia-Pacific region.
Asia-Pacific PPS Composite Industry Segmentation
Polyphenylene sulfide (PPS) is a semi-crystalline thermoplastic that consists of multiple aromatic rings of p-substituted benzene and sulfur. It is widely used in felt filter media for high-temperature air filters, coil formers, bobbins, slurry coatings, terminal blocks, relay components, specialty membranes, and packaging. PPS exhibits various advantageous properties, such as high chemical and abrasion resistance, dimensional stability, and mechanical strength. It is also lightweight and includes a high melting point and low viscosity index that assists it in being molded into the desired shapes. As a result, PPS finds extensive application across various industries, such as aerospace, medical, automotive, electrical, and electronics.
The Asia-Pacific polyphenylene sulfide (PPS) composites market is segmented by type, end-user industry, and geography. By type, the market is segmented into carbon fiber-reinforced composites, glass fiber-reinforced composites, and other types (mineral-filled PPs, nanocomposite PPs, and continuous fiber PPS). By end-user industry, the market is segmented into aerospace and defense, automotive, oil and gas, electrical and electronics, industrial, and other end-user industries (medical, marine, sporting goods, etc.). The report also covers the market size and forecasts for the Asia-Pacific polyphenylene sulfide market for 5 major countries across the major regions. For each segment, the market sizing and forecasts are done on the basis of value (USD).
Type | |
Carbon Fiber-Reinforced Composites | |
Glass Fiber-Reinforced Composites | |
Other Types (Mineral-Filled PPS, Nanocomposite PPS, and Continuous Fiber PPS) |
End-user Industry | |
Aerospace and Defense | |
Automotive | |
Oil and Gas | |
Electrical and Electronics | |
Industrial | |
Other End-user Industries (Medical, Marine, Sporting goods, etc.) |
Geography | |
China | |
India | |
Japan | |
South Korea | |
ASEAN Countries | |
Rest of Asia-Pacific |
Asia Pacific Polyphenylene Sulfide (PPS) Composites Market Size Summary
The Asia-Pacific polyphenylene sulfide (PPS) composites market is poised for significant growth, driven by the increasing demand for high-performance materials in various industries. PPS composites are renowned for their exceptional strength, heat resistance, and lightweight properties, making them ideal for applications in the aerospace and defense sectors. The burgeoning aerospace industry in Asia, particularly in China and India, is a major contributor to the market's expansion. The region's defense industry is also witnessing substantial growth, with countries like China and Japan investing heavily in military upgrades and next-generation technologies. These developments are expected to bolster the demand for PPS composites, which are used in high-temperature ducting, seat frames, and interior panels of aircraft, among other applications.
Despite the promising growth prospects, the market faces challenges such as the complex and labor-intensive processing of PPS composites, which can drive up costs. However, advancements in automation and digitalization are anticipated to streamline production processes, reduce waste, and enhance product consistency, thereby offering cost savings and increased market penetration. The market is partially consolidated, with key players like DIC Corporation, SABIC, Teijin Limited, Celanese Corporation, and Solvay playing significant roles. Recent expansions and innovations, such as SABIC's launch of a glass fiber-reinforced material for electronic applications, further underscore the dynamic nature of the market. Overall, the Asia-Pacific PPS composites market is expected to experience robust growth, supported by technological advancements and increasing demand across various sectors.
Asia Pacific Polyphenylene Sulfide (PPS) Composites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Rising Demand from Aerospace and Defense
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1.1.2 Increasing Demand from Oil and Gas Sector
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Challenges to Form Composites from Fiber Reinforcement
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1.2.2 High Processing and Manufacturing Costs
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size In Value)
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2.1 Type
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2.1.1 Carbon Fiber-Reinforced Composites
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2.1.2 Glass Fiber-Reinforced Composites
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2.1.3 Other Types (Mineral-Filled PPS, Nanocomposite PPS, and Continuous Fiber PPS)
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2.2 End-user Industry
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2.2.1 Aerospace and Defense
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2.2.2 Automotive
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2.2.3 Oil and Gas
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2.2.4 Electrical and Electronics
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2.2.5 Industrial
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2.2.6 Other End-user Industries (Medical, Marine, Sporting goods, etc.)
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2.3 Geography
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2.3.1 China
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2.3.2 India
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2.3.3 Japan
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2.3.4 South Korea
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2.3.5 ASEAN Countries
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2.3.6 Rest of Asia-Pacific
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Asia Pacific Polyphenylene Sulfide (PPS) Composites Market Size FAQs
How big is the Asia Pacific Polyphenylene Sulfide Composites Market?
The Asia Pacific Polyphenylene Sulfide Composites Market size is expected to reach USD 606.90 million in 2024 and grow at a CAGR of greater than 9% to reach USD 972.05 million by 2029.
What is the current Asia Pacific Polyphenylene Sulfide Composites Market size?
In 2024, the Asia Pacific Polyphenylene Sulfide Composites Market size is expected to reach USD 606.90 million.