Global Sulfone Polymers Market to Reach $2.1 Billion by 2026

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Jun 25, 2021, 11:50 ET

SAN FRANCISCO, June 25, 2021 /PRNewswire/ - A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Sulfone Polymers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 6; Released: January 2021
Executive Engagements: 3859
Companies: 21 - Players covered include Americhem Engineered Compounds; Avient Corporation; BASF SE; Evonik Industries AG; GEHR GmbH; Ovation Polymers Inc.; Mitsubishi Chemical Advanced Materials; Sino Polymer Co, Ltd.; Solvay S.A.; Sumitomo Chemical Co., Ltd.; UJU New Material Co., LTD and Others.
Coverage: All major geographies and key segments
Segments: Product (Polysulfone (PSU), Polyethersulfone (PESU), Polyphenylsulfone (PPSU), Other Products); Application (Medical & Healthcare, Automotive, Electrical & Electronics, Industrial, Aerospace, Food & Beverages, Consumer Goods, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Sulfone Polymers Market to Reach $2.1 Billion by 2026

Sulfone polymers are transparent and rigid plastic materials that are resistant to heat even at over 204°C. Growth in the global market is set to be driven by increasing demand for these materials in a comprehensive spectrum of industries including electrical & electronics, aircraft, automotive, food and medical devices. These polymers continue to gain from increasing demand for advanced electronics in industrial and household products. The surging demand can be primarily attributed to their extraordinary flame-retardant characteristics. Based on their superior rigidity, corrosion resistance and toughness, sulfone polymers are finding increasing use on aircraft and automotive interiors. Demand for these polymers is bound to gain from expansion of the aviation sector and rising automotive production. In addition, sulfone polymers are fit for various applications in the food industry as a result of their low toxicity. These polymers are capable of retaining their physical properties when exposed to steam, making them a suitable candidate for the food packaging industry. Another prominent driver for the market is growing adoption of these polymers in production of various dental care, medical, and orthopedic devices. Consistently growing demand for medical equipment from healthcare facilities and hospitals is poised to create a favorable environment for sulfone polymers. The market growth is also augmented by rising adoption of these materials in production of fuel systems, coatings, pipes, fitting and composites owing to their excellent strength.

Amid the COVID-19 crisis, the global market for Sulfone Polymers estimated at US$1.6 Billion in the year 2020, is projected to reach a revised size of US$2.1 Billion by 2026, growing at a CAGR of 5.5% over the analysis period. Polysulfone (PSU), one of the segments analyzed in the report, is projected to grow at a 5.6% CAGR to reach US$837.5 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Polyethersulfone (PESU) segment is readjusted to a revised 6.1% CAGR for the next 7-year period. This segment currently accounts for a 30.6% share of the global Sulfone Polymers market. Polysulfone represents the largest type of sulfone polymers owing to the widespread usage of the material in multiple industries. Polysulfone is used in various applications such as dialysis filtration cartridges, pharmaceutical filter housing, surgical instrument cases and trays, transparent portion of anesthesia masks. Providers of aircraft interior parts and components employ polyethersulfone (PESU) for developing better products. These materials support advanced processing while reducing manufacturing costs and cycle time. Polyethersulfone reinforced with glass or carbon fibers finds use in components such as battery caps, oil control pistons, oil pumps, transmission parts, bearing cages and ignition components, and carburetor parts.

The U.S. Market is Estimated at $454.5 Million in 2021, While China is Forecast to Reach $290.7 Million by 2026

The Sulfone Polymers market in the U.S. is estimated at US$454.5 Million in the year 2021. The country currently accounts for a 28.11% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$290.7 Million in the year 2026 trailing a CAGR of 7.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 5.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR while Rest of European market (as defined in the study) will reach US$313.9 Million by the end of the analysis period. The US represents the largest market owing to the large aerospace and automotive industries in the region. Factors such as strong growth in end-use sectors due to widespread economic development, rapid urbanization and increase in consumer disposable incomes drive growth in the Asia-Pacific region.

Polyphenylsulfone (PPSU) Segment to Reach $429.4 Million by 2026

Polyphenylsulfone (PPSU) offers superior performance in applications where transparency is required. Polyphenylsulfone (PPSU) finds use in manufacture of filtration membrane, and electrical sockets and parts such as oil pumps, transmission oil control pistons, and bezels. It is also used as an alternative material in headlights capable of withstanding operating temperatures of 190-200 degree Celsius. In the global Polyphenylsulfone (PPSU) segment, USA, Canada, Japan, China and Europe will drive the 4.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$244.4 Million in the year 2020 will reach a projected size of US$337.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$42.3 Million by the year 2026, while Latin America will expand at a 6% CAGR through the analysis period. More

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