Global Sulfone Polymers Market Insights Forecasts to 2030
- The Global sulfone polymers market was valued at USD 1.73 Billion in 2021.
- The Market is growing at a CAGR of 5% from 2022 to 2030.
- The Global sulfone polymers market is expected to reach USD 2.68 Billion by 2030.
- Asia-Pacific is expected to grow the fastest during the forecast period.
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The Global Sulfone Polymers Market is expected to reach USD 2.68 Billion by 2030, at a CAGR of 5% during the forecast period 2022 to 2030. The sulfone polymer market has grown due to its rising construction activity in developing nations. Additionally, the demand for products in the automotive industry will rise in the near future due to the expanding popularity of electric vehicles and increased global awareness of GHG emissions.
The sulfone polymers are made up of -SO2 or sulfone-binding moieties. Sulfone resin's natural color is transparent light ember. Extended exposure to air or steam has little effect on transparency. These resins can also be found in formulas with added minerals and reinforced with glass, which changes the material's color to opaque and improves its stiffness, strength, and thermal stability. Compared to other transparent plastics, they are high-performance thermoplastics with various advantageous chemical properties, such as resistance to higher temperatures, superior toughness, strength, and hydrolytic stability. Due to sulfone's relatively high melt viscosity under processing circumstances, sulfone polymers make molding parts with the same physical characteristics easier. Global vehicle production has increased significantly during the past few years. It is projected that rapid development in regions like Asia-Pacific will increase the production of automobiles, increasing the demand for polysulfones. This is because of their standout characteristics, which include lightweight, toughness, and flexibility.
Leading automakers concentrate on economical methods for using vast amounts of polymer composites. As a result, the automotive sector and automobile production grow, the need for effective sulfone polymers will soar. It is anticipated that this will increase demand for sulfone polymers and motivate producers to improve their supply and output.Over the forecast period, the sulfone polymers market is expected to be driven by rising automotive production and the expanding aviation industry. Because of their low toxicity, sulfone polymers are permitted for use in food applications. These polymers are used in food packaging because they maintain their physical properties under steam. The market is expected to grow as people consume more packaged food daily. Numerous orthopedic, dental, and medical equipment are also made with these polymers. Over the following years, the market for sulfone polymers is anticipated to be driven by rising medical equipment demand. Because of their high strength, these polymers are also utilized to make coatings, composites, fuel systems, pipes, and fittings. Rising demand for these items is anticipated to support global market expansion further.
Global Sulfone Polymers Market Report Coverage
|Market Size in 2021:||USD 1.73 Billion|
|Forecast Period 2022-2030 CAGR:||5 %|
|2030 Value Projection:||USD 2.68 Billion|
|Historical Data for:||2019-2020|
|No. of Pages:||279|
|Tables, Charts & Figures:||110|
|Segments covered:||By Product Type, By Application|
|Companies Covered:||Polymers USA LLC, Sumitomo Corporation, PolyOne Corporation, BASF SE, Sino Polymer, Jiangmen Youju New Materials Co. Ltd., Evonik Industries AG, GEHR GmbH., Ovation Polymers. Inc., and Americhem Engineered Compounds.|
|Growth Drivers:||Growth in Automotive Industry is expected to drive the markets growth over the forecast period.|
|Pitfalls & Challenges:||Leading automakers concentrate on economical methods for using vast amounts of polymer composites. As a result, the automotive sector and automobile production grow, the need for effective sulfone polymers will soar.|
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This research report categorizes the market for global sulfone polymers based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global sulfone polymers market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global sulfone polymers market sub-segments.
- In 2021, the polysulfone segment dominated the market with the largest market share of 30% and market revenue of 0.51 billion.
Based on the product type, the global sulfone polymers market is categorized into Polysulfone, Polyphenylsulfone, Polyethersulfone, and Others. In 2021, the polysulfone segment dominated the market with the largest market share of 30% and market revenue of 0.51 billion. Polysulfone has great qualities such as high chemical resistance, good thermal stability, transparency, durability, and rigidity. Sulfone polymers' broad range of uses in the production of components for electronics, automobiles, medical devices, and aircraft are expected to dominate the market.
- In 2021, the medical segment accounted for the largest share of the market, with 32% and a market revenue of 0.55 billion.
Based on the application, the sulfone polymers market is categorized into Automotive, Medical, Aerospace, Consumer Goods, and Others. In 2021, the medical segment accounted for the largest share of the market, with 32% and a market revenue of 0.55 billion. The largest and most significant component of the market is currently controlled by the medical sector. The sulfone polymer's transparency can be preserved due to its chemical characteristics even after it has been sterilized by steam that has been heated to extremely high temperatures. Its mechanical abilities are one of these attributes.
Regional Segment Analysis of the Sulfone Polymers Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America emerged as the largest market for the global sulfone polymers market, with a market share of around 36% and 1.73 billion of the market revenue in 2021.
- In 2021, North America emerged as the largest market for the global sulfone polymers market, with a market share of around 36% and 1.73 billion of the market revenue. The demand for sulfone polymers in the region is primarily driven by the aerospace and automotive applications. Mexico is anticipated to have the biggest demand for sulfone polymers over the forecast period, while the U.S. is a significant manufacturer in the area.
- The Asia-Pacific market is expected to grow at the fastest CAGR between 2021 and 2030, The need for sulfone polymers will be driven by expanding end-user sectors such as industrial processing, transportation, and electrical & electronics. In addition, the aerospace and automotive industries in China, India, and Japan are robust and successful, which will increase demand for sulfone polymers in the region. According to the International Energy Agency, China is the world's largest seller of electric vehicles, expanding the market for sulfone polymer in batteries and other autobody parts.
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The report offers the appropriate analysis of the key organizations/companies involved within the global sulfone polymers market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Polymers USA LLC
- Sumitomo Corporation
- PolyOne Corporation
- BASF SE
- Sino Polymer
- Jiangmen Youju New Materials Co. Ltd.
- Evonik Industries AG
- GEHR GmbH.
- Ovation Polymers. Inc.
- Americhem Engineered Compounds
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In March 2022, Sumitomo Corporation will complete the mine life extension development at the Australian Northparkes Mine.
- In June 2022, To package ready-to-eat meals, Confoil and BASF will work together to develop a certified compostable dual ovenable paper tray.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global sulfone polymers market based on the below-mentioned segments:
Global Sulfone Polymers Market, By Product Type:
Global Sulfone Polymers Market, By Application:
- Consumer Goods
Global Sulfone Polymers Market, Regional Analysis:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Sulfone Polymers market?As per Spherical Insights, the size of the Sulfone Polymers market was valued at USD 1.73 Billion in 2022 to USD 2.68 Billion by 2030.
What is the market growth rate of the Sulfone Polymers market?The Sulfone Polymers market is growing at a CAGR of 5% from 2022 to 2030.
Which country dominates the Sulfone Polymers market?North America emerged as the largest market for Sulfone Polymers.
Who are the key players in the Sulfone Polymers market?Key players in the Sulfone Polymers market are Polymers USA LLC, Sumitomo Corporation, PolyOne Corporation, BASF SE, Sino Polymer, Jiangmen Youju New Materials Co. Ltd., Evonik Industries AG, GEHR GmbH., Ovation Polymers. Inc., and Americhem Engineered Compounds.
Which factor drives the growth of the Sulfone Polymers market?Growth in Automotive Industry is expected to drive the markets growth over the forecast period.
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