Market Research Report
Sulfone Polymers Market Size By Product (Polyethersulfone, Polysulfone, and Polyphenylsulfone), Sector, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2021-2027
|Published by||Global Market Insights Inc.||Product code||980839|
|Published||Content info||274 Pages
Delivery time: 2-3 business days
|Sulfone Polymers Market Size By Product (Polyethersulfone, Polysulfone, and Polyphenylsulfone), Sector, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2021-2027|
|Published: January 6, 2021||Content info: 274 Pages||
Market Size By Product (Polyethersulfone, Polysulfone, and Polyphenylsulfone), By Sector (Consumer Goods, Electrical & Electronics, Aerospace, Automotive, Medical & Healthcare, Industrial, Food & Beverage), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2021 - 2027.
The global sulfone polymers market size is projected to grow substantially in the forthcoming years, with increasing product consumption across numerous end-use sectors. In terms of the material, the market is segmented into PESU, PPSU, PSU, and others. The others segment, which includes PEI, polyetherimide, and numerous other materials, captured around 13% of the revenue share in 2020.
The demand for PSU is slated to increase at a 5% CAGR through 2027. The PESU products had accounted for a 33% revenue share of sulfone polymers industry during 2020 and the share will expand considerably. The growth can be attributed to its increasing application in the automotive and aerospace sectors.
Meanwhile, the adoption of PPSE polymers will rise at a CAGR of 4.5% up to 2027, with growing usage in medical and healthcare applications. Sulfone polymers are widely used in aerospace, automotive, electrical & electronics, consumer goods, medical & healthcare, food & beverage, and industrial applications, among others. The others application segment is estimated to expand at a CAGR of 6.8% through the estimated timeframe.
Electrical and electronics applications, in 2020, accounted for 15% of the market share and will continue to exhibit similar trends in the future. The consumption of sulfone polymers in consumer goods is likely to grow at a CAGR of 4.3% up to 2027. The product application in automotive parts and components is anticipated to grow consistently as well.
Meanwhile, aerospace applications, which accounted for about 10% of the market share in 2020, will increase at a 4.7% CAGR between 2021-2027. The demand for sulfone polymers in medical and healthcare applications is set to increase at a CAGR of 5.6% in the near future, with growing application in medical devices and equipment. Industrial applications are expected to hold more than 19% revenue share of the sulfone polymers market by 2027.
From a regional point of view, the North America sulfone polymers industry size is poised to expand at an 8% CAGR. Europe had accounted for 26% of the market share in 2019 and the region will witness widespread product demand over the next few years, while market in Asia Pacific will grow at a CAGR of 8.4% through the same forecast period.
The Latin American region had captured around 5% of the revenue share in 2019 and the regional market is expected to expand at a CAGR of 7.1% over 2020-2027. The sulfone polymers industry in the Middle East and Africa will witness notable growth as well, with the growing application of ceramic coatings in the auto industry.