LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global polyphenylene sulfide market report until 2021. This research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global polyphenylene sulfide (PPS) market for 2017-2021 provides a detailed industry analysis based on application (automotive, electronics and electrical, and industrial applications) and geography (APAC, Europe, North America, and ROW).
“The global polyphenylene sulfide market size is projected to grow to USD 1,585 million by 2021, at a CAGR of close to 10% over the forecast period. The strong demand for polyphenylene sulfide from the automotive industry, where it is required in components such as instrumentation panels, center consoles, and door panels is a key driver for the growth of the market,” says Chandrakumar Badala Jaganathan, one of the lead analysts at Technavio for plastics, polymers, and elastomers research.
Competitive vendor landscape
The global PPS market is dominated by leading chemical companies such as DIC, Toray Industries, Solvay, INITZ, and Celanese, while other prominent vendors such as Tosoh, Lion Idemitsu Composites, SABIC, and Zhejiang NHU occupy a significant place in the market. These players have a notable global presence, and there is an environment of intense competition in the market. Vendors compete based on price, performance, and innovation. The market is still relatively young, and opportunities for new entrants is abundant.
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The top five vendors in the global polyphenylene sulfide market
Celanese operates through four major segments, namely acetyl intermediates, advanced engineered materials, industrial specialties and industrial specialties. The company also specializes in manufacturing ethylene vinyl acetate polymers, intermediate chemistry, cellulose derivatives, emulsion polymers, food ingredients, and engineered materials.
DIC initially manufactured printing inks and then went on to expand its synthetic resins and organic pigments business. After that, the company developed a broad portfolio consisting of materials and finished products. It operates through five business segments, namely, printing inks, polymers, application materials, and fine chemicals.
INITZ focuses on manufacturing chlorine-free PPS. It offers high-quality engineering plastics using the sources and support technology from SK Chemical and organic cooperation from Teijin. The company offers PPS to the automotive industry for use in various automotive parts including engine components (heat resistance, epoxy adhesion), electrical systems, fuel systems, lighting systems and in electric vehicles and hybrid electric vehicles.
Solvay operates through five major business segments, namely advanced materials, performance chemicals, advanced formulations, functional polymers, and corporate and business services. The company serves markets including consumer goods and healthcare, automotive and aerospace, electricity and electronics, energy and environment, building and construction, and industrial.
Toray Industries operates through six major segments, namely fibers and textiles, plastics and chemicals, IT-related products, carbon fiber composite materials, environment and engineering, and life Sciences and other businesses. The company used to manufacture fibers, textiles, plastics, and chemicals initially.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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