Polyarylsulfone Market Highlights -
Polyarylsulfone (PAS) is a high-performance thermoplastic containing phenyl and biphenyl groups linked by ether and sulfone groups. It provides more thermal resistance and superior short and long-term thermal stability than engineered thermoplastics and other superior characteristics such as high impact & tensile strength, excellent transparency, lightweight, low moisture absorption, good dimensional stability, excellent flame retardancy, good hot water, steam, chemical, and stress cracking resistance, high glass transition temperature (2000C), and low coefficient of thermal expansion (1200C).
According to a detailed report published by Market Research Future (MRFR), The global polyarylsulfone market size was estimated at 1.71 billion in 2020 and is likely to witness strong growth in demand at a healthy CAGR of 7.9% from the Forecasts Period (2021-2030).
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Some of the major players operating in the global polyarylsulfone market are Solvay SA (Belgium), BASF SE (Germany), Sumitomo Chemical Company. (Japan), SABIC (Saudi Arabia), Quadrant Plastic Composites AG (Switzerland), Polymer Industries (U.S.), Westlake Plastics Company (U.S.), Polymer Dynamix Llc (U.S.), Ensinger Inc. (U.S.), and RTP Company (U.S.).
Polyarylsulfone is extensively used in fields that require safety and regulatory standards such as aerospace, automotive, and healthcare industry owing to its superior properties.
Influential factors estimated to drive the market over the forecast period are the extensive use of polyarylsulfone in industries. concerned with safety regulation standards such as aerospace, automotive, and healthcare. Moreover, polyarylsulfone is also used in electrical & electronics applications such as in circuit breakers, fuse holders, switch latches, transparent displays, and housing parts of air humidifier & electrical batteries due to its high impact & tensile strength, lightweight, reduced creep tendency, and high dimensional stability. in addition, it is used to manufacture household appliances such as coffee machines, samovars, and pipe connection fittings due to its high thermal stability, chemical resistance, and low moisture absorption property. The varied applications of polyarylsulfone are driving its demand globally, consequently contributing to market growth over the forecast period.
However, the high expenditure involved in the manufacture of polyarylsulfone as compared to conventional engineered thermoplastics is expected to hinder the market growth. moreover, difficulty in processing the high-performance thermoplastics of polyarylsulfone is likely to restrict the growth to some degree during the forecast period.
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Polyarylsulfone Market - Segments:
The global polyarylsulfone market has been segmented based on product type, end-use industry, and region.
Based on product type, the polyarylsulfone market has been segmented into polyethersulfone (PESU), polyphenylsulfone (PPSU), and polysulfone (PSU).
Based on the end-user industry, the global market for polyarylsulfone has been segmented into aerospace, automotive, electrical & electronics, healthcare, water treatment, and others.
Based on the region, the global polyarylsulfone market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Global Polyarylsulfone Market - Regional Analysis
North America has been assessed as one of the significant regional markets for polyarylsulfone and is estimated to show a stable market growth during the forecast period, owing to factors such as the growing aerospace industry, electronics industry, and healthcare industry and in the developed countries such as U.S. and Canada.
Europe is also expected to show a steady market growth for polyarylsulfone owing to the strong automotive market and growing microelectronics market in countries such as Germany and the Netherlands.
The Asia Pacific is estimated to be the largest and the fastest growing market for polyarylsulfone. The demand for polyarylsulfone is projected to be driven primarily by the huge automobile industry in China, the rising electrical & electronics industry in countries such as Japan, South Korea, and Taiwan, and the increasing healthcare industry in India. in addition, rapid growth in the industrialization and urbanization of these countries is also likely to influence the demand for polyarylsulfone over the forecast period. Also, the rising demand for water treatment facilities to ensure safe and clean water is an additional factor for market growth.
Latin America is projected to show a moderate demand for polyarylsulfone due to its water treatment application over the forecast period, thus has been expected to witness slow and gradual growth of the polyarylsulfone market.
The Middle East & Africa market is an emerging region in the global polyarylsulfone market and is expected to show steady but stagnant demand for polyarylsulfone over the forecast period.
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