Global Polyarylsulfone Market is expected to reach USD 2.36 billion by 2022, according to a new study by Grand View Research, Inc. Growing demand for high performance engineering plastics across automotive and construction industries is expected to drive global polyarylsulfone market. Increasing medical and dental applications is also expected to fuel polyarylsulfone demand. Superior properties including high chemical and thermal resistance over conventional thermoplastics including polycarbonate and polyamide have also helped in increasing its market penetration. High price compared to other plastics is expected to remain a key challenge for market participants.
Polysulfone (PSU) emerged as the single largest product segment and accounted for 36.1% of total market volume in 2014. Growing enhanced filtration needs in medical, food & beverages and sanitary is expected to drive membranes demand which in turn is expected to have a positive impact on the global polysulfone demand. Polyphenylsulfone (PPSU) is expected to witness the highest growth of 9.1% from 2015 to 2022. Growing demand for high performance materials in medical industry particularly in developed markets of North America and Europe is expected to drive this segment over the forecast period.
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Further key findings from the study suggest:
- Global polyarylsulfone demand was 63.3 kilo tons in 2014 and is expected to exceed 100 kilo tons by 2022, growing at a CAGR of 6.0% from 2015 to 2022.
- North America was the leading regional market and accounted for 33.9% of total volume in 2014. Stable demand for high performance thermoplastics across key end-use industries particularly in the U.S. is expected to drive this region. Increasing healthcare expenditure coupled with expanding automotive industry in Mexico is also expected to have a positive influence on the regional market over the forecast period.
- Asia Pacific is expected to witness the highest growth of 7.1% from 2015 to 2022. Growth of key end-end use industries such as automotive, aerospace and food & beverages coupled with increasing healthcare expenditure in emerging markets of India, China and Indonesia is expected drive the regional polyarylsulfone demand.
- Global polyarylsulfone market is highly consolidated on account of presence of established industry participants. Some key companies operating in the global polyarylsulfone market include BASF, Sumitomo Corporation, Ensinger Inc., Solvay, Quadrant Engineering Plastics Product Inc. and Solvay.
For the purpose of this study, Grand View Research has segmented the polyarylsulfone market on the basis of product and region:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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