Sulfone Polymers Market worth over $2.0 billion by 2024

According to a new research report by Global Market Insights, Inc., the Sulfone Polymers Market will likely surpass USD 2 billion by 2024.
 

Sulfone polymers’ demand is rapidly increasing in aerospace and automotive industries owing to their high-performance properties. These polymers offer higher stability and toughness while operating at higher temperatures. High strength, better flame resistance, thermal stability, and excellent retardancy to oxidation properties make them suitable for aerospace, and automotive applications. Thus, the sulfone polymers market share will be influenced positively and will further enhance the market growth over the coming years.
 

 

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Changing trends like substitution of metal products with lightweight polymer materials in automotive, and aerospace applications will drive the global market significantly. The product demand for sulfone polymer-based aircraft, and automotive components is emphasizing the producers to manufacture more products significantly which will significantly propel the growth of global sulfone polymers market in the entire forecast timeline.
 

The global sulfone polymers market is majorly restrained by the regulatory norms regarding the consumption of sulfone polymers in some industry verticals. For instance, the usage of sulfone polymer-based products in medical & food industries require many stages of government approval because of the presence of harmful chemical substances like bisphenol A. Hence to maintain the standard quality of food, regulatory bodies have implemented certain restrictions which will negatively impact the market over the next years.
 

Implementing new technologies and equipment inevitably require high maintenance cost which will challenging the product manufacturers from investing in sulfone polymers market. Further, substantial R&D costs involved in the development of advanced technologies will further decelerate this market soon.
 

Browse key industry insights spread across 280 pages with 319 market data tables & 27 figures & charts from the report, “Sulfone Polymers Market Size By Product (Polyethersulfone, Polysulfone, Polyphenylsulfone), By End-User (Consumer Goods, Electrical & Electronics, Aerospace, Automotive, Medical, Industrial), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, China, India, Japan, Australia, Indonesia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Kuwait), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/sulfone-polymers-market
 

Polyethersulfone segment will grow at a CAGR of over 6.5% during the projected period. This product segment will witness a huge demand due to its incredible properties, and application extent over the coming years. The polysulfone product segment is found out to be the second fastest growing segment over the coming years. Regarding both volume, and revenue, the polyethersulfone segment have the major share, and dominates the overall sulfone polymers market value in the forecast period.

 

The automotive application segment is the fastest growing application segment, growing at a CAGR close to 6.6%. Rising global transportation industry, and government initiatives for better transportation networks in developing countries will attribute to the global sulfone polymers market. Aerospace application segment is the second fastest growing in both volume and revenue due to growing demand for lightweight aircraft components.
 

Medical application segment is having major volume consumption and is forecasted to grow over the coming years. Innovative application of these for manufacturing several medical equipment through design and technology modification is enabling their application in complex devices, in place of traditional materials that will significantly trigger sulfone polymers market demand.
 

Asia Pacific holds the significant market share in 2016 and will grow at CAGR of over 6.5% till the end of forecast period. Rising consumption in end-user industries, and rapid industrialization in the developing countries of this region will augment the market. Moreover, the Middle East & Africa and Latin America will moderately grow over the forecast timeframe.
 

North America is growing with a CAGR of over 6.2% during the forecast period. The market in this region is growing due to increasing application in medical devices and automotive production. United States hold major market share and is one of the fastest growing regions due to high automotive and aerospace production. Moreover, shift in consumption pattern of high-performance polymers in several industries will propel market growth.
 

Leading players present in the sulfone polymers industry are Sino Polymer, Evonik, Infinity LTL, Sumitomo Corporation, SABIC, BASF SE, Ovation Polymers, Jiangmen, and others.

 

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