Polysulfone Resin Market REPORT OVERVIEW
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The global polysulfone resin market size was USD 597.9 million in 2021 and is projected to touch USD 879.02 million by 2031, exhibiting a CAGR of 3.9% during the forecast period.
Polysulfone (PSU) is classified as an amorphous polymer. These amorphous polymers lack a distinct liquefying level but extents at which they unstiffen are known as the glass transition temperature. Furthermore, polysulfone resin is inclusive in the sulfone group and also consists of product applications such as sturdy chemical resistance along with above average dielectric strength. Polysulfone resin is also competent of supplying exceptional endurance to hydrolysis and recurring sterilization which does positively stimulate the products diverse properties.
The polysulfone resin market comprises of three subparts such as polysulfone, polyarylsulfone and polyphenylsulfone. Firstly, polysulfones are part of a family of high efficiency thermoplastics. it is known these polymers are widely recognized for their sturdiness and reliability at immense temperatures, and theoretically consumed polysulfones include para- connected aromatics, sulfonyl collections and ether clusters and partly also alkyl unit’s applications. Secondly, the polysulfone is commonly designated for the word polyarylethersulfones (PAES), as since only aromatic polysulfones are consumed commercially. Moreover, the ether groups are usually included within these polysulfones, polyarylethersulfones (PAES) are also relevant to the polyether sulfones (PES), polyarylene sulfones or in basic terms polysulfone (PSU). Thirdly, polyphenylsulfone is a high performance polymer made of aromatic rings linked by sulfone groups. Additionally, its properties are obtained from the structuring of hard plastics and is commonly consumed for immediate prototyping and production applications. Polyphenylsulfone is known for being impervious to extreme heat temperatures and high chemical conditions, which are optimal for usage in electronics and electrical, vehicle construction, food industry, medical industry and other diverse industrial applications.
COVID-19 Impact: Government Implied Lockdown Led to Restrictions in Distribution Channels
The COVID-19 pandemic had created diminishing demand levels and negative bearings upon uncountable industries and its market, as COVID-19 virus interminably drove on a global scale. Furthermore, the outbreak in COVID-19 cases also established substantial hardships to the world economy. Unfortunately, the progression of COVID-19 was aggravated and resulted in upon a rigid and vigorous lockdown, which led to numerous organizations being distressed and creating an unproductive set of supply distribution channels. Due to, constrained movements and termination of offices, negatively influenced the supply levels of the product, as diminishing supply volumes for polysulfone (PSU), polyarylsulfone (PES) and polyphenylsulfone (PPSU) in the global market were recorded.
LATEST TRENDS
"Growing Demand in Healthcare Industries to Foster Growth"
Polysulfone resin are commonly consumed for the see-through area of anesthesia masks, as it is a mixture of a malleable silicone that adapts to the patient analysis. Furthermore, these masks are reusable and need repetitive steam cleansing without the depriving the substances properties or structure. Additionally, polysulfone is also consumed for pharmaceutical categorizing coverings as it is long-lasting, non- noxious and inclusive of rupture resilient and having crystal clear properties. These coverings reveal minimal protein- band, manufacture lesser amounts of residue metals or organic materials, and are convenient to cleanse. Moreover, heart valve sizers are used up to anticipate the ratio of the heart valve when it is substituted. On the other hand, ready-made polysulfone sizers are dimensionally precise, have see-through windows for utmost perceptibility, and are mainly unaffected to sterilization procedures for continual consumption. Hence, giving surges to demand from producers and consumers in the electronics and electrical, vehicle construction, food industry, medical industry and other variated industries.
Polysulfone Resin Market SEGMENTATION
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- By Type
Based on type; Polysulfone (PSU), polyarylsulfone (PES) and polyphenylsulfone (PPSU).
Polysulfone (PSU) is the leading type in this segment.
- By Application
Based on application; Electronics and electrical, vehicle construction, food industry, medical industry and other.
Electronics and electrical is the leading application in this segment.
DRIVING FACTORS
"High Consumption in Mining Applications to Augment Market Growth"
Polyacrylamide, which is diverse type in the polysulfone resin market is largely consumed as a flocculating substance to take care of wastewater produced in the stages of mining goings-on. Furthermore, the rising growth in the mining sector is anticipated to drive the demand for polyacrylamide and indirectly for polysulfone resin. Moreover, polyacrylamide is majorly vital in mining procedures and for handling minerals to detach the mineral and mineral ore. Importantly consumed as flocculants in the dealing of wastewater from mineral dispensation, that is fashioned by the mining stations throughout the mining course. This leads towards the polysulfone resin market growth.
"Developments in the Product for Aerospace Industries to Boost Market Growth"
The stimulating lightweight engineering movement over metals is boosting the polysulfone resin demand in the aerospace market. Moreover, advancements in fire resistant properties appeal the aerospace manufactures to obtain the product for its apparatuses. The aerospace producers have indulged usage of polysulfone resin in trolley production which are consumed in aircrafts to supply food and beverages to travelers. The main idea of substituting metals with polysulfone materials in trolleys is to reduce expenditure in cost of production and weight value. Polyether sulfones are similarly sapped as shock convertors for epoxy techniques in aerospace. Hence, which also grows the demand and supply while also boosting the polysulfone resin market share.
RESTRAINING FACTORS
"Lack of Solvent Resistance in the Product to Hamper Market Growth"
The favored polymer by consumers for assistance in porous formulation is polysulfone. Furthermore, the main disadvantage is that its hydrophobicity and unavailability of solvent endurance as, the prior application demands attachment of moistening substances for aqueous layer. This overall restricts the applications of the product and forces manufacturers to search for alternatives, which in return obstructs the market growth.
Polysulfone Resin Market REGIONAL INSIGHTS
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"North American Region Claims onto Leading Market Position "
Presence of highly developed and structured chemical industries, improving procedures of research and development of the product. Furthermore, combined with ongoing technical development in key end-use industries such as automotive, aerospace and medical markets is progressively stimulating the market growth in the North America.
KEY INDUSTRY PLAYERS
"Key Players Focusing on Upgrading Product Models"
The key market players look to grow the quantity of polysulfone resin in the market due to, the increasing demand of automobiles, and to supply for polyarylsulfone in various Vehicle Construction applications. This is accounted for the rising population and increase of disposable income per head. Furthermore, they are aiming to expand distribution channels to smoothen and fasten the allocation of the product to the consumers.
List of Market Players Profiled
- Solvay (Europe)
- Basf (Germany)
- Sumitomo (Japan)
- Jiangmen Youju (China)
- Shandong Horan (China)
- Yanjian Technology (China)
- Sino Polymer (China)
REPORT COVERAGE
This report forecasts current and upcoming advancements within the leading region. Furthermore, highlighting an analysis of the industry trends with driving and restraining factors within the market. It also accounts for, the strategies of key market players and COVID-19 impacts upon the market.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 597.9 Million in 2021 |
Market Size Value By |
US$ 879.02 Million by 2031 |
Growth Rate |
CAGR of 3.9% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the polysulfone resin market expected to touch by 2031?
The global polysulfone resin market is expected to touch USD 879.02 million by 2031.
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What CAGR is the polysulfone resin market expected to exhibit by 2031?
The polysulfone resin market CAGR is expected to be 3.9% by 2031.
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Which are the driving factors of the polysulfone resin market?
High consumption of polysulfone types in mining applications augments market growth and developments in the product for aerospace industries boosts polysulfone resin market growth.
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Which are the top companies operating in the polysulfone resin market?
Solvay, Basf, Sumitomo, Jiangmen Youju, Shandong Horan, Yanjian Technology and Sino Polymer are the companies operating in the polysulfone resin market.