PPS Filament Market Size, Share, Growth and Industry Analysis by Type (Multifilament, And, Monofilament), By Application (Automotive, Military and Aerospace, Chemical Plants Filters, Safety Apparel & Technical Textile, And, Others), Regional Insights, and Forecast From 2023 To 2030

Updated On: 20 November 2023

PPS Filament Market REPORT OVERVIEW

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The global PPS filament market size was US$ 41 million in 2022. As per our research the market is expected to generate US$ 56 million by 2028 with a CAGR of 5.3% during the forecast period.

PPS is a type of thermoplastic which is mainly used for 3D printing. PPS, is an acronym for polyphenylene sulphide. It exhibits several superior features such as high chemical resistance, high temperature resistance, and exceptional dimensional stability. PPS filament is implemented in several industries such as automotive, aerospace, and electronic industries. High-quality prints can be produced with the help of these filaments.

Filaments with improvised features such as high strength, better resistance, and dimensional stability are being introduced. This is fueling the market growth. This is considered as the latest trend in the market.

Various sectors such as electronics, automotive, and healthcare have adopted these filaments. These filaments form a very important of medical equipment market. Surgical equipment, implants, and diagnostic machines also implement PPS filaments. These factors are collectively driving the PPS filament market growth.

COVID-19 Impact: Usage of PPS Filaments in Healthcare Sector During Pandemic Increased Market Growth

The pandemic of COVID-19 was one among the deadliest diseases, that affected the human race. Some of the serious problems that were faced by people included increasing death rate, higher recession cases, and economic crisis. Inadequate working capital, disruption in supply chain, and fluctuation in the price of raw materials further increased the difficulties faced by industries.

However, the PPS filament market has strong demand from sectors such as automotive, healthcare, and aerospace. During pandemic the need for medical equipment’s and personal protective equipment were high. As a result, the demand for PPS filaments remained high even during the pandemic period.

LATEST TRENDS

"Introduction of PPS Composites with Improvised Features to Increase Market Growth"

In order to attract more customers to the market, manufacturers are introducing PPS composites that have improvised features. For enhancing the mechanical and thermal properties of these filaments, materials and additives such as carbon fiber, and, glass fiber are being used. These materials will increase the quality of PPS filaments.

Incorporating these materials in the production of PPS filaments has resulted in filaments with, strength, improved stiffness and dimensional stability. All of these features will make them suitable to be used in high-performance industries. These filaments also exhibit low moisture absorption, and, high glass transition temperature. Therefore, they can be used in industries which require stiffness and strength. All of these are considered as the latest trend in the market.

PPS Filament Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following categories:

Multifilament, and, monofilament. The multifilament segment is expected to hold the dominant market share through 2028.

• By Application:

Classification based on application into the following categories:

Automotive, military and aerospace, chemical plants filters, safety apparel & technical textile, and, others. The automotive segment is predicted to dominate the market through 2028.

DRIVING FACTORS

"Growing Demand for These Filaments in Automotive, and, Electronics Industry to Amplify Market Growth"

Certain industries such as automotive, aerospace, and electronics are considered to be high-performance sectors, and they require materials that exhibit strength and resistance. These filaments are preferred as they have exceptional dimensional stability. These filaments are thermoplastics that are extensively used in 3-dimensional printing.  

3D printing is gaining popularity, in most of the sectors. Hence the demand for PPS filaments has also registered a considerable growth. Aerospace vehicles, and equipment require materials that are lightweight yet strong. These filaments are considered to the ideal choice for manufacturing aerospace equipment. All of these factors are increasing the growth of the market.

"Incorporation of PPS Composites in Medical Instruments to Develop Market Growth"

Apart from being used in industries such as electronics, aerospace, and automotive, PPS composites form a very major part of the healthcare industry. They are used in the manufacturing of surgical equipment, implants, and healthcare devices.  Post pandemic the number of surgeries happening have increased, rising the demand for medical equipment. As PPS composites are used in manufacturing medical devices their sales have increased.

While constructing buildings, and infrastructures materials that have better stability and corrosion resistance are preferred. PPS filaments are suitable to be used in construction industry. Other than these high-performance sectors, PPS filaments are also adopted for prototyping and end-use industries. All of the above-mentioned factors have contributed in increasing PPS filament market share.

RESTRAINING FACTOR

"High Cost of PPS Composites Compared to Thermoplastics to Decrease Market Growth"

Thermoplastics are considered to be a better alternative for these filaments in terms of cost. Thermoplastics are cheaper compared to these filaments. When it comes to price sensitive applications this factor can have a negative effect on the market. Many manufacturers will prefer using other thermoplastics to reduce the overall cost of production. Another factor that can hinder the market development, is the high printing temperatures required for production.

Without this temperature it might be difficult to achieve good adhesion to the printing bed. Another alternative material that is in high demand in the market as an alternative to these filaments is a material called PPEK. This substance has similar properties and can be afforded at a lower price. All of these factors can have a negative impact on the market.

PPS Filament Market Regional Insights

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"North America to Dominate Market Growth During Research Period"

The region that is predominantly occupying the market share is North America. Some of the factors that have contributed in the development of market in this region include the presence of well-established industries such as automotive, healthcare, and electronics.

3D printing industry is high active in this region, complementing the growth of PPS filament. Along with these factors growing investment on research and development has positively impacted the market development. Key industry players are finding out innovative techniques to develop better products. All of these factors have helped in the development of the market in North America.   

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position in the recent days. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market. Key market players have adopted unique strategies to flourish in the market. Many new innovations and changes are being seen in the market.

List of Market Players Profiled

• Toray (Japan)
• Toyobo (Japan)
• KB Seiren (Japan)
• Nantong NTEC (China)
• Changzhou Co-Win (China)
• Zhangjiagang City Bonded DongBang (China)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. The report also provides information about some of the top industry players in the market.