North America Polyphenylene Sulfide Compounds Market Size, Share & Trends Analysis Report By Application (Automotive, Water Supply/Fluid Management, Electrical & Electronics), By Country, And Segment Forecasts, 2021 - 2030

Report Overview

The North America polyphenylene sulfide compounds market size was valued at USD 212.5 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% from 2021 to 2030. Vehicular weight reduction regulations, in order to reduce fuel efficiency and ultimately reduce carbon emissions, have driven automotive OEMs to adopt polyphenylene sulfide (PPS) compounds over metals, such as aluminum and steel, for fabricating automotive components. Moreover, properties such as exceptional dimensional stability and resistance to mechanical stress and corrosive automotive fluids are boosting the product demand in the automotive industry.

Polyphenylene sulfide compounds are widely utilized in automotive, electrical and electronics, industrial coatings, oil and gas, and aerospace industries. Various properties such as exceptional mechanical strength, dimensional stability, inherent flame resistance, and good chemical resistance are significantly propelling the demand for PPS compounds in the abovementioned applications. The growing need for weight reduction in cars to improve their efficiency and reduce emissions has resulted in the demand for lighter polymers to replace heavy metal parts. Polyphenylene sulfide compounds are preferred in automotive applications due to their superior properties, including creep resistance, stiffness, strength, and temperature resistance.

The polyphenylene sulfide market in North America is expected to grow owing to the growing application scope of polyphenylene sulfide in various application sectors. In electrical and electronics, polyphenylene sulfide finds application in bobbins and connectors, hard disk drives, electronic housings, sockets, switches, lamp sockets, and microwave parts, among others. Properties of polyphenylene sulfide such as exceptional dimensional stability, heat and chemical resistance, impact resistance, moldability, and rigidity over a wide range of temperatures are significantly fueling the product demand in electrical and electronics applications.

Application Insights

The automotive application segment led the market and accounted for a revenue share of more than 34.0% in 2020. The segment is anticipated to maintain its lead over the forecast period. PPS compounds are widely utilized in reducing fuel consumption and improving system integration. In addition, properties such as exceptional dimensional stability and resistance to mechanical stress and corrosive automotive fluids are augmenting the product demand in automotive applications in the region.

Increasing utilization of polymers in OEM, coupled with a rise in the production of electric vehicles in the region, is driving the demand for polyphenylene sulfide compounds in North America. In addition, vehicular weight regulations and standardization of emission norms are anticipated to help boost the demand for PPS in automotive applications. Moreover, increasing demand for polyphenylene sulfide compounds as a substitute of metals in order to reduce the overall vehicle weight and ultimately reduce carbon emissions is substantially fueling the market growth in the region.

In the oil and gas industry, polyphenylene sulfide compounds are used in various applications, such as proximity probe housing, centrifugal pump components, and scraper. Increasing shale gas production in the region is anticipated to fuel the growth of the oil and gas industry in the region, which, in turn, is anticipated to propel the demand for PPS compounds in the oil and gas industry. Shale gas has become an important source of natural gas in the U.S. Studies suggest that shale gas is expected to expand the global energy supply. The U.S. shale revolution has led to the rapid progress of shale gas production in Canada. According to the U.S. Energy Information Administration, the country accounted for approximately 2o% of the total oil produced across the globe in 2020. Thus, the growing oil and gas industry in the region is anticipated to fuel the demand for PPS compounds over the forecast period.

Country Insights

The U.S. dominated the North America market and accounted for a revenue share of over 70.0% in 2020. The growing demand from various end-use industries, such as automotive, oil and gas, water supply/fluid management, electrical and electronics, aerospace, and coatings, is anticipated to create lucrative opportunities for the polyphenylene sulfide compounds market in the U.S. However, stalled industrial output due to the outbreak of COVID-19 has severely impacted the market growth in 2020. Moreover, the recommencing of industrial activities is projected to augment the market growth in the coming years.

Increasing concerns over greenhouse gas emissions, coupled with the government regulations to reduce the emissions, are fueling the adoption of polyphenylene sulfide compounds over metals in automobiles. Favorable federal regulations laid down by agencies such as the Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA) regarding carbon emissions for the creation of light and fuel-efficient vehicles are likely to augment the growth of the U.S. polyphenylene sulfide compounds market in the coming years.

The U.S. is one of the key aerospace markets in the world. The country is a leader in manufacturing aerospace and related components. The availability of well-trained machinists, aerospace engineers, and other skilled laborers, along with the increasing air passenger traffic, is driving investments in the U.S. aerospace industry. According to the International Trade Administration (ITA), the aerospace industry contributed USD 147 billion, in terms of export sales, to the U.S. economy in 2019. In addition, the presence of prominent aircraft manufacturers, such as Gulfstream Aerospace, Airbus, the Boeing Company, and Textron Aviation, Inc., is anticipated to propel the growth of the aerospace industry in the country, thereby augmenting the demand for polyphenylene sulfide compounds.

Key Companies & Market Share Insights

The market is highly characterized by strategies including capacity expansion, strategic partnerships, and new product developments opted by polyphenylene sulfide manufacturers across the region. In March 2019, DIC Corporation announced to build a new production line of PPS compounds at its DIC Imaging Products USA, LLC facility in Oak Creek, Wisconsin to meet the increasing demand for PPS compounds in North America.

Companies such as Teijin Limited and SK Chemicals are categorized as key innovators as these companies are actively engaged in research and development to offer better products in the market. For instance, in February 2018, Teijin Limited launched SOLFIGA, a new brand of specialized polyphenylene sulfide compounds, responding to diversifying demands from the automotive and electronics industries. Some prominent players in the North America polyphenylene sulfide (PPS) compounds market include:

• DIC Corporation

• Solvay S.A.

• Toray Industries, Inc.

• SK Chemicals

• SABIC

• Celanese Corporation

North America Polyphenylene Sulfide Compounds Market Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at the regional and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the North America polyphenylene sulfide compounds market report on the basis of application and country:

• Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2030)

  • Automotive

    • ADAS

    • Thermal Management

    • Water Pumps

    • Sensors

    • Power Control Units

    • Batteries

    • Electric Motors

    • Electric Control Units

    • Extrusion Tubes

    • Others

  • Oil & Gas

  • Water Supply/Fluid Management

  • Electrical & Electronics

  • Aerospace

  • Coatings

  • Others

• Country Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2030)

  • U.S.

  • Canada

  • Mexico