The global polyarylsulfone market to grow at a CAGR of 6.62% during the period 2017-2021.
Global Polyarylsulfone Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market. To calculate the market size, the report considers the volume sales of various applications of polyarylsulfone.
The latest trend gaining momentum in the market is Surging demand from developing nations. The demand for polyarylsulfone from developing nations is growing at a fast pace. Polyarylsulfones often find use under safety and regulatory-driven applications in the aviation, automotive, and medical sectors due to their innate properties.
Currently, under APAC, countries such as China and India are witnessing positive economic development and the purchasing power of individuals has also improved. This has also led to the growth of several industries in these nations. For example, the electronics market in India and the construction industry in China are expected to witness a high growth rate during the forecast period. Polyarylsulfones are widely used in electronics, construction, medical, and automotive markets.
According to the report, one of the major drivers for this market is Increasing demand from the medical technology industry. The increased demand for high-performance thermoplastics from the medical sector is driving the growth of this market. For example, PPSU is commonly used in X-ray machines as it has a low water absorption rate. It also is impermeable and resistant to disinfectants, cleaning agents, and different solvents. It is also used in dental applications, orthopedics, sterilization cases and trays, single-use instruments, hemodialysis membranes, and implantable devices.
Further, the report states that one of the major factors hindering the growth of this market is High cost of polyarylsulfone. The natural gas, crude oil, and crude oil-derived compounds are used as raw materials. The price of these raw materials used in the manufacturing of polyarylsulfone thermoplastics is moderately high.
Hence, the price of raw materials is directly proportional to that of polyarylsulfone products. This has led to low-profit margins for vendors, as the products must be priced at a premium rate. The fluctuating crude oil price also affects the procurement cost of raw materials.
BASF Ensinger Solvay Sumitomo Chemicals SABIC
Other prominent vendors
Quadrant Engineering Plastic Polymer Industries Westlake Plastics Company Polymer Dynamix Mitsubishi