Polyarylsulfones Market is Predicted to Surpass a Revenue of USD 26.90 Billion by Growing at a CAGR of 19.1% During 2022-2028; Growing Preference for Light Weight Engineering to Elevate Market Growth – SkyQuest
The research study by SkyQuest on the polyarylsulfones market offers a thorough industry analysis, as well as present market trends and anticipated future developments. For market participants, stakeholders, and investors, this report is a crucial tool that enables them to stay competitive and make well-informed decisions. Important information is covered in the study, including market size worldwide, market share of major players, and market segmentation by geography. The purpose of the research is to give its readers a competitive advantage in the market.
Westford USA, Feb. 14, 2023 (GLOBE NEWSWIRE) — North America to dominate the polyarylsulfones market throughout the forecast period. The presence of a well-organized and well-developed thermoplastic industry along with ongoing technological advancements in important end-use industries like the automobiles, aviation, healthcare, and powertrains sectors in the United States, Canada, and Mexico are having a positive impact on the market expansion in the region. The nation’s original equipment vendors are concentrating on modernizing conventional powertrain models. Additionally, the country’s rising automobile production is significantly increasing the demand for polyarylsulfone in the automotive sector.
According to SkyQuest, the American automotive market sold around 15 million light vehicle units in 2021 and this number is predicted to rise during the forecast period owing to increasing urbanization and the growing adoption of fast modes for the commute.
Browse in-depth TOC on “ Polyarylsulfones Market”
Pages – 157
Tables – 66
Figures – 66
The physical and electrical properties of polyarylsulfone (PAS), which include excellent chemical resistance and high dielectric strength, are outstanding. The application of PAS is expanding, especially in the water treatment and automotive industries, thanks to its remarkable resistance to hydrolysis and frequent sterilization.
Prominent Players in Polyarylsulfones Market
- Solvay Chemical Company
- SABIC Innovative Plastics
- BASF SE
- Sumitomo Chemical Company
- Polymer Dynamix Asahi Kasei Advance Corporation
- Westlake Plastics Company
- RTP Company
- Gallina India
- Quadrant AG
- SAMYANG CORPORATION
- MG Polyplast Industries Pvt. Ltd.
- Emco
- Trident Plastic Inc.
- Meyer Plastic Inc.
- Ensinger Inc.
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Polyethersulfone (PESU) Segment to Gain the Highest Market Share Owing to Its Wide Range Applications
Polyethersulfone (PESU), among other segments, had the highest market share of more than 53% and emerged as the most important product segment in the market over the forecast period. The main factors influencing PESU’s expanding application range are its high strength, great ductility, stiffness, superb electrical characteristics, and excellent flame retardancy. Due to its exceptional qualities, including transparency, low smoke emission, remarkable electrical capabilities at high heat, and strong chemical stability, PESU is frequently used in protective face shields, printed circuits, connections, high-intensity light bases, and equipment guards. Additionally, the increasing sales and manufacturing of all these products are predicted to boost market growth. SkyQuest found that according to the Chinese government, in 2021, more than 4 billion protective face shields were created and this number is estimated to increase owing to rising industrialization across the globe.
In 2021, North America became the world’s largest market and is predicted to gather the largest market share during the forecast period. Strong and coordinated thermoplastics sector and continued technological advancement in important end-use industries are anticipated to drive market growth. Further, a rise in domestic, industrial, and commercial transportation activities as well as an increase in the need for wastewater treatment in the region’s major countries like USA, Canada, and Mexico is predicted to boost market growth as polyethersulfone plays a significant role in treating the wastewater.
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Owing to the Increasing Usage of Polyethersulfone for Various Automobile Functions, the Automotive Segment dominates Polyethersulfone Market
The automotive segment is predicted to dominate the polyethersulfone market during the forecast period. The growth of the segment can be ascribed to the increasing usage of the product in a variety of functions and parts of the automobile. Further, owing to its astonishing thermal distortion temperature, outstanding lubricant, and fuel resistance it is utilized for manufacturing transmission components, oil pumps, reflectors, flapper valves, and other items. Moreover, the rising manufacturing sales of automobiles across the world are predicted to drive segment growth over the forecast period.
The market in Asia Pacific region is estimated to be growing at the fastest pace. The growth of the market can be ascribed to the increasing presence of key market players, expanding automobile sector, the growing aviation industry, and the significant investments by the government to promote industrialization mainly in China, India, and Japan. SkyQuest’s latest research shows that India presently holds the ninth-largest position in the aviation industry, with 121 million domestic and 41 million foreign passengers. As of 2022, over 85 foreign airlines fly to India, while 5 domestic carriers connect more than 40 nations. These numbers are predicted to increase significantly during the forecast period owing to rising disposable income and dramatic shifts in the lifestyle of the people in the region.
A thorough analysis of the global polyethersulfone market provides detailed market insights, which also carefully analyses the major competitors in the market. The research gives a broad review of their market share, production capacity, and recent activity including capacity expansions, investments, mergers, and acquisitions. The study also contains a SWOT analysis, which aids in identifying the market’s advantages, disadvantages, opportunities, and threats.
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Key Developments in the Polyethersulfone Market
- At its facility in Yeosu, Korea, German company BASF has begun operating a new production line for the high-temperature resilient polyarylsulfone thermoplastic Ultrason. With the addition of the new line, Ultrason’s total yearly capacity will rise by 6,000 tonnes per year to 24,000 tonnes per year, meeting the expanding global market demand.
- A plastic processor is using BASF’s new Ultramid Advanced N5H UN polyphthalamide (PPA) to create stock forms with a diameter of 50 mm. Gehr, a German business with headquarters in Mannheim, was the first to successfully extrude PPA.
- Asahi Kasei Trading Co., Ltd., Asahi Kasei Intertextiles Corporation, and Asahi Kasei Commerce Co., Ltd., three well-known Asahi Kasei Group companies, united to create “Asahi Kasei Advance Corporation.” With the merger, they hope to standardize and advance each of their business sectors, particularly in the production and distribution of fibre, chemical products, plastic goods, and building materials.
- In Terrassa, close to Barcelona, LAUDA Ultra-cool, SL, the Spanish division of LAUDA DR. R. WOBSER GMBH & CO. KG, celebrated the opening of its new production facility. As a result, the temperature control specialist in various fields including construction and automobile sectors has successfully finished its first building project overseas.
Key Questions Answered in the Polyethersulfone Market Research Report
- What are the estimated size and anticipated growth rate of the worldwide market?
- What are the main factors influencing and impeding market growth?
- Who are the leading businesses active in the global marketplace?
- Which segment and sub-segments leading in the global polyethersulfone market?
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