Global Polyphenylene Sulfide Market is Estimated To Witness High Growth Owing To Increasing Demand from Automotive and Electrical & Electronics Industries
The global Polyphenylene Sulfide (PPS) market is estimated to be valued at $1,299.29 million in 2021 and is expected to exhibit a CAGR of 8.8% over the forecast period 2022 to 2030, as highlighted in a new report published by Coherent Market Insights. A) Market Overview: Polyphenylene Sulfide (PPS) is a high-performance engineered polymer with excellent thermal, mechanical, and chemical resistance properties. It finds applications in various industries such as automotive, electrical & electronics, aerospace, industrial, and others. In the automotive industry, PPS is used in under-the-hood applications, fuel systems, and electrical components. In the electrical & electronics industry, it is used in connectors, switches, circuit breakers, and insulation materials. B) Market Dynamics: The market dynamics for the global Polyphenylene Sulfide market are driven by two main factors: 1. Increasing demand from the automotive industry: With the growing emphasis on lig...