Detroit, Michigan, Jan 24nd 2022. The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the
Sulfone Polymers Market is likely to witness a CAGR of 5.2% during the forecast period. Growing building activities in developing economies such as India, China, the Philippines, Brazil, and South Africa are expected to increase the demand for electrical products, boosting the consumption of sulfone polymers. Furthermore, surge in demand for electric vehicles, combined with increased global awareness of GHG emissions, will boost the product demand in the automotive sector in the near future.
Compounds with -SO2 or sulfone moiety linkages are known as sulfone polymers. Sulfone resins have a natural hue of transparent light ember. Prolonged exposure to air or steam has little effect on the transparency. Mineral-filled and glass-reinforced resins are also available, which change colour to opaque and provide increased strength, stiffness, and thermal stability. They're high-performance thermoplastics with a variety of chemical advantages over conventional transparent plastics, including the capacity to endure greater temperatures and provide increased toughness, strength, and hydrolytic stability.
Sulfone Polymers Market Share: By Product Type
Based on the product type, the market is segmented into polyethersulfone, polysulfone, polyphenylsulfone, and others. Polysulfone (PSU) polymers led the product sector in 2020, accounting for about 35% share of the market. The segment is expected to maintain its indomitable lead during the during the forecast period as well. The growth of the segment is driven by its properties such as thermal stability, transparency, durability, rigidity, and chemical resistance. Furthermore, the overall market will be bolstered by the vast applications of sulfone polymers in the manufacturing of various parts of electronics, automotive, medical devices, and aerospace.
Sulfone Polymers Market Share: By Sector Type
Based on the sector type, the market is segmented into consumer goods, electrical & electronics, aerospace, automotive, medical & healthcare, industrial, food & beverage, and others. The medical & healthcare segment held the largest share of the market in 2020, and is expected to register the highest growth over the forecast period. As sulfone polymers, such as PES and PPSU, can be sterilized in superheated steam while maintaining their transparency and mechanical properties, they're used to make a variety of medical components and devices, including dialyzer membranes, infusion equipment, sterilizing boxes, instruments, instrument parts, surgical theatre luminaries, re-usable syringes, and secretion bottles. As a result, strong growth in the healthcare sector will boost sales of sulfone polymers over the forecast period.
For a more detailed breakdown of the COVID-19 impact on the Sulfone Polymers Market, request a free sample of the report here:
In terms of regions, Asia-Pacific is estimated to hold a significant share of the market for sulfone polymers during the forecast period. The region’s growth will be on account of rapid industrialization and urbanization along with growing end-user industries, such as industrial processing, transportation, and electrical & electronics, which will trigger the demand for sulfone polymers market. Furthermore, China, India, and Japan have robust aerospace and automotive sectors, which will stimulate the sulfone polymer demand in the region. As per the International Energy Agency, China leads the global electric vehicle sales, thus widening the scope for sulfone polymer use in battery and other autobody components.
Key players operating in the Sulfone Polymers market are-
Americhem Engineered Compounds
Ovation Polymers. Inc.
Shandong Haoran Special Plastic Co., Ltd.
Specialty Polymers USA LLC
Sumitomo Chemical Co., Ltd.
Youju New Materials Co., Ltd
Features of the Report:
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Sulfone Polymers Market analysis report discusses the following heads in great detail:
· Market structure: Overview, industry life cycle analysis, supply chain analysis
· COVID-19 Impact Assessment
· Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
· Market trend and forecast analysis
· Market segment trend and forecast
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities
· Emerging trends
· Strategic growth opportunities for the existing and new players
· Key success factors.
Know more about Stratview Research:
Stratview Research is a global market research company and is known to offer custom research reports in varied fields such as aerospace & Defense, Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. Our team makes sure to have deep research about the topics so that the most useful insights can be delivered to the professionals.