The global production of sulfone polymers grew at a healthy CAGR of 8.20% between 2012 and 2017. In 2017, it touched 54,985 MT after improving from 40,118 MT reached in 2012. The global consumption of sulfone polymers is foretold to rise at a robust CAGR of 6.64% during the forecast period 2019-2024 to touch 93,455MT by the end of 2024. It is anticipated to increase on the back of the swelling downstream demand.
Global Polysulfone Resin Market: Drivers
High suitability of polysulfone in food and beverage contact and medical applications due to its biocompatible and chemically inert properties is prophesied to bode well for the global polysulfone resin market. Several grades of polysulfone have been approved for drinking water application as well. They are also able to bear up against long-term exposure to hot chlorinated water.
Some polysulfone plastics are used in typical applications such as membranes, medical devices, plumbing manifolds, hot water fittings, and faucet components because of their excellent hydrolytic stability, practical toughness, transparency, high strength, and other key features.
Global Polysulfone Resin Market: Forecast by Product and End User
The global polysulfone resin market is classified into polyphenylsulfone (PPSU), polyarylsulfone (PES), and polysulfone (PSU) by-product.
On the basis of end user, the global polysulfone resin market is segmented into medical industry, food industry, vehicle construction, electrical and electronics, and others. The automotive and electronics industries are foreseen to significantly augment the demand in the market. In terms of consumption, vehicle construction and electrical and electronics collected 20.40% and 27.59% shares in 2017.
Global Polysulfone Resin Market: Forecast by Region
The authors of the report have explained the market growth of important geographies, viz. the MEA, Central and South America, Southeast Asia, India, Japan, China, Europe, and North America.
The U.S. witnessed the largest consumption of polysulfone resin in 2017. Registering a consumption of 15,125 K MT, Europe secured the second position in the same year.
Global Polysulfone Resin Market: Competitive Landscape
The report covers major players of the global polysulfone resin market, i.e. Sino Polymer, Yanjian Technology, Shandong Horan, Jiangmen Youju, Sumitomo, BASF, and Solvay. With a few players dominating the market, Solvay is considered to be a world leader that accounted for a gigantic production share of 57.52% in 2017.
Contrastingly, Chinese manufacturers hold a limited production share of the global polysulfone resin market due to technological restrictions. They are anticipated to take more time to enter the global scene full-fledged. In comparison with popular brands on the market, products in China have lower visibility and also lower price.
Besides Solvay, Sumitomo and BASF are predicted to remain dominant in the global polysulfone resin market. Most players of the market have commonly shown capacity expansion in the past five years.
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