세계의 폴리페닐렌 설파이드(PPS) 시장 수요 분석 : 유형별, 용도별, 예측 분석(2034년)

The global PPS market was valued at USD 1.7 billion in 2024 and is anticipated to surpass USD 3.2 billion by 2032, growing at a CAGR of 6.6% during the forecast period. Its robust performance, coupled with innovation in compounding and manufacturing, positions PPS as a strategic material for next-generation industrial applications.

Polyphenylene Sulfide (PPS) is a high-performance thermoplastic that has steadily risen to prominence due to its unique combination of chemical resistance, thermal stability, and mechanical strength. Commercialized in the early 1970s by Chevron Phillips, PPS is now widely adopted in diverse industries, especially automotive and electrical & electronics, where advanced material properties are critical. As a versatile engineering plastic that offers both performance and cost advantages compared to alternatives like Polyether Ether Ketone (PEEK) or Polyetherimide (PEI), PPS continues to capture growing demand in various global markets.

PPS is primarily produced using para-dichlorobenzene (p-DCB) and sodium hydrosulfide, both of which carry environmental concerns related to toxicity and groundwater contamination. The chemical-intensive manufacturing process has led to scrutiny, especially in North America and Europe, where regulatory pressures are tightening. For instance, the U.S. Environmental Protection Agency (EPA) has listed several legacy chlorinated solvent sites under Superfund designation, allocating multimillion-dollar clean-up budgets.

Market Dynamics and Key Drivers

The primary driver of PPS market growth is its rapid adoption in the automotive and electrical & electronics sectors, where its ability to replace metals and conventional plastics proves increasingly valuable. In automotive manufacturing, PPS is used in high-performance under-the-hood components, where heat, friction, and chemical exposure are significant concerns. As vehicle manufacturers pursue lightweighting initiatives to meet fuel economy and emissions targets, PPS has emerged as a critical enabler for replacing metal components, without compromising durability or safety.

The electrical and electronics industry, another key end-use segment, leverages PPS for components like connectors, switches, and insulation elements that require precision molding and resistance to high temperatures and corrosive environments. Filter media, another important application, currently accounts for approximately 18% of global PPS consumption and is growing at a notable CAGR of 8%. The emerging opportunities in aerospace and defense, which demand lightweight yet resilient materials, are expected to push PPS demand further, with projections estimating this segment to reach 13% of the market by 2032.

While PEEK and PEI offer superior performance on certain metrics, PPS remains a more cost-effective option, often dubbed the "common man's PEEK," particularly in price-sensitive industries. The polymer's ability to be injection molded and compounded with fillers between 30-60% further enhances its usability across various industrial applications.

Key Competitors

As of 2024, global PPS production capacity stands at around 163 kilo tons and is forecasted to exceed 200 kilo tons by 2032. The market is dominated by several key players including Toray Industries, DIC Corporation, Solvay SA, Fortron Industries, Kureha Corporation, Tosoh Corporation, Lion Idemitsu Composites, and SK Chemicals. Toray Industries leads the global PPS market with an 18% share of installed capacity, followed by DIC Corporation at 15%.

Asia-Pacific emerges as the world's largest PPS producer, accounting for three-fourths of global capacity in 2024. The region's dominance is expected to grow further with new capacity additions, particularly in China, Japan, and South Korea. Toray Industries has announced expansions at its Gunsan facility in South Korea and Iwaki plant in Japan, which will bring its total PPS capacity to 32.6 kilo tons globally. These expansions, slated for completion by 2025, are designed to address the rising demand in automotive and electronics, especially in Asia's fast-growing economies.

Regional Demand Insights

In terms of demand, Asia-Pacific was the largest consumer of PPS in 2024, accounting for over 75% of global consumption, with China alone contributing more than 40%. The region's leadership stems from its vast manufacturing base in automotive and electronics, as well as continued infrastructure investments and favorable policy support. The Chinese market is projected to maintain an average annual growth rate of 7% through 2032.

Western Europe ranks second in PPS demand, driven by its strong automotive and industrial base. North America follows closely, supported by ongoing demand in automotive, aerospace, and industrial processing sectors. Meanwhile, Central & Eastern Europe, Latin America, and the Middle East & Africa collectively account for a smaller market share but present potential growth opportunities as industrialization and infrastructure development continue in these emerging regions.

Application Breakdown and Demand Trends

In 2024, the automotive sector held the largest share of global PPS demand at over 40%, due to its use in engine parts, brake systems, cooling components, and powertrain applications. As electric vehicles (EVs) continue gaining market share, PPS use in EV battery components, charging connectors, and lightweight structural parts is also growing.

The electrical & electronics sector follows closely, with PPS used in switches, sockets, relays, bobbins, and other thermally critical applications. Its flame retardant and high dielectric properties make it ideal for modern electronic systems, including those in 5G, IoT, and consumer electronics.

PPS also finds significant application in industrial filter media, where it supports operations in harsh chemical and thermal environments such as power plants, cement factories, and waste incinerators. Aerospace & defense, though a smaller segment currently, is forecasted to grow rapidly, driven by demand for advanced lightweight composites.

Table of Contents

1. Introduction

• Scope
• Market Coverage
  • Application
  • Regions
  • Countries
• Years Considered
  • Historical - 2018 - 2023
  • Base - 2024
  • Forecast Period - 2025 - 2034
• Research Methodology
  • Approach
  • Research Methodology
  • Prismane Consulting Market Models
  • Assumptions & Limitations
  • Abbreviations & Definitions
  • Conversion Factors
  • Data Sources

2. Market Synopsis

• Market Evolution
• Demand Overview
• Industry Structure
• Strategic Issues
• End-use Trends
• Growth Forecast

3. Economic & Energy Outlook

• GDP and Demographics
• Monetary & Fiscal Policies
• Crude Oil Production and prices
• Natural Gas
• Electricity Prices

4. End-use Sector Performance

• Automotive
• Industrial
• Aerospace
• Electrical & Electronics
• Others

5. Introduction to Polyphenylene Sulfide (PPS) and Market Overview

• Product Description
• Grades & Properties
• Raw Material
• Manufacturing Process
• Environmental Issues
• Value Chain
• Applications

6. Market Dynamics and Industry Trends

• Market Dynamics
  • Drivers
  • Restraints
  • Opportunities
  • Challenges

7. Global Polyphenylene Sulfide (PPS) Demand Analysis, By Application (Volume, Value) (2018-2034)

• Strategic Issues and COVID-19 Impact
• Demand Analysis and Forecast (2018- 2034)
  • Demand
  • Demand Growth Rate (%)
  • Driving Force Analysis
  • Global Polyphenylene Sulfide (PPS) Market, By Application
• Automotive
• Industrial
• Aerospace
• Filter Media
• Electrical & Electronics
• Others

8. Demand Analysis and Market Review, By Region, By Country (Volume, Value), (2018- 2034)

• Strategic Issues and COVID-19 Impact
• Demand Analysis and Forecast (2018 - 2034)
• Demand
• Demand Growth Rate (%)
• Polyphenylene Sulfide (PPS) Market, By Application

Note: Demand Analysis has been provided for all major Regions / Countries as mentioned below. The demand (consumption) split by application has been provided for each of the countries / regions in Volume (Kilo tons) and Value (USD Million).

• North America
• USA
• Canada
• Mexico
• Western Europe
• Germany
• France
• Italy
• United Kingdom
• Spain
• Rest of Western Europe
• Central & Eastern Europe
• Russia
• Poland
• Rest of Central & Eastern Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Rest of Asia-Pacific
• Central & South America
• Middle East & Africa

Note: CAGR will be calculated for all the applications to arrive at the regional / global demand growth for the forecast period (2025 - 2034)

9. Pricing Analysis

10. Key Strategic Issues and Business Opportunity Assessment

• Market Attractiveness Assessment
• Prospective & Target Market Study

11. Strategic Recommendation & Suggestions

12. Company Analysis

• Polyphenylene Sulfide (PPS) Manufacturers Profiles/ Company Analysis
  • Basic Details
  • Headquarter, Key Markets
  • Ownership
  • Company Financial
  • Manufacturing Bases
  • Global Turnover
  • Total Employee
  • Product Portfolio / Services / Solutions
  • Key Business Strategies adopted and Prismane Consulting Overview
  • Recent Developments
  • Companies Covered -
• Solvay SA
• Fortron Industries
• DIC Corporation
• Kureha Corporation
• Toray Industries Inc.
• Tosoh Corporation
• Lion Idemitsu Composites
• SK Chemicals
• Zhejiang NHU Special Materials co., Ltd.
• Other Manufacturers

Note: This section includes company information, company financials, manufacturing bases and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.

13. Appendices

• Demand - Regions
• Demand - Countries