Sulfone Polymers Market statistics and research analysis released in latest report
Sulfone Polymers Market will
likely surpass USD 2 billion by 2024; according to a new research report by
Global Market Insights, Inc.
Sulfone
polymers’ demand is rapidly increasing in aerospace and automotive industries
owing to their high-performance properties. These polymers offer higher
stability and toughness while operating at higher temperatures. High strength,
better flame resistance, thermal stability, and excellent retardancy to
oxidation properties make them suitable for aerospace, and automotive
applications. Thus, the market will be influenced positively and will further
enhance the market growth over the coming years.
Changing
trends like substitution of metal products with lightweight polymer materials
in automotive, and aerospace applications will drive the global sulfone
polymers market significantly. The product demand for sulfone polymer based
aircraft, and automotive components is emphasizing the producers to manufacture
more products significantly which will significantly propel the growth of
global sulfone polymers market in the entire forecast timeline.
The
global sulfone polymers market is majorly restrained by the regulatory norms
regarding the consumption of sulfone polymers in some particular industry
verticlas. For instance, the usage of sulfone polymer based products in medical
& food industries require many stages of government approval because of the
presence of harmful chemical substances like bisphenol A. Hence to maintain the
standard quality of food, regulatory bodies have implemented certain
restrictions which will negatively impact the global sulfone polymers market
over the next years.
Polyethersulfone
segment will grow at a CAGR over 6.5% during the projected period. This product
segment will witness a huge demand due to its incredible properties, and
application extent over the coming years. The polysulfone product segment is
found out to be the second fastest growing segment over the coming years.
Regarding both volume, and revenue, the polyethersulfone segment have the major
share, and dominates in the overall forecast period.
The
automotive application segment is the fastest growing application segment,
growing at a CAGR close to 6.6%. Rising global transportation industry, and
government initiatives for better transportation networks in developing
countries will attribute to the global sulfone polymers market.
Aerospace
application segment is the second fastest growing in both volume, and revenue
due to growing demand for lightweight aircraft components.
Medical
application segment is having major volume consumption and is forecasted to
grow over the coming years. Innovative application of these for manufacturing
several medical equipment through design and technology modification is
enabling their application in complex devices, in place of traditional materials
that will significantly trigger sulfone polymer market demand.
Asia
Pacific holds the significant market share in 2016 and will grow at CAGR of
over 6.5% till the end of forecast period. Rising consumption in end-user
industries, and rapid industrialization in the developing countries of this
region will augment the market. Moreover, the Middle East & Africa and
Latin America will moderately grow over the forecast timeframe.
North
America is growing with a CAGR of over 6.2% during the forecast period. Sulfone
polymers market in this region is growing due to increasing application in
medical devices and automotive production. United States hold major market
share and is one of the fastest growing region due to high automotive and
aerospace production. Moreover, shift in consumption pattern of high
performance polymers in several industries will propel market growth.
Leading
players present in the sulfone polymers market are Sino Polymer, Evonik,
Infinity LTL, Sumitomo Corporation, SABIC, BASF SE, Ovation Polymers, Jiangmen,
and others.
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Market Insights, Inc., headquartered in Delaware, U.S., is a global market
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chemicals, advanced materials, technology, renewable energy and biotechnology.
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Sulfone Polymers Market statistics and research analysis released in latest report
Reviewed by Pradip Varpe
on
December 20, 2017
Rating:
Reviewed by Pradip Varpe
on
December 20, 2017
Rating:
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