About the Report
The sulfone polymers market is gaining momentum as demand continues to rise from diverse industries, including electronics, healthcare, and others. While the market is witnessing a set-back due to ongoing COVID-19 crisis, Future Market Insights (FMI) in its report forecasts that recovery is on cards. The report offers a comprehensive overview with chapters dedicated to discussing in detail the impact of COVID-19 on the market and potential road to recovery.
According to a new study by Future Market Insights (FMI), the global sulfone polymer market is set to rise at 5.0% CAGR during the forecast period between 2020 and 2030. The expansion of the healthcare segment, coupled with the steady growth of the automotive & transportation industry, is projected to spur the growth of the market.
Sulfone polymers are high-heat plastics that offer higher strength, toughness, and hydrolytic stability than conventional transparent plastics. According to FMI, the demand for polyphenylsulfone will continue rising. Besides this polyethersulfone too will emerge as another lucrative segment in terms of product type.
High Flame Retardancy Ensures Application in Diverse Sectors
The rising demand for electronic devices across household and industrial sectors will require application of sulfone polymers in high quantities. Toughness, high rigidity, and corrosion resistance of sulfone polymers have been driving its application in the electronics sector.
These high temperature thermoplastics also find increasing application in automotive and aerospace industries because of their high transparency and extraordinary inherent flame retardant characteristics. The low smoke generation and low flammability of sulfone polymers make them ideal candidates to meet regulations implemented by the Federal Aviation Administration (FAA).
Besides this, expansion of the electronics sector across high potential markets will result in lucrative opportunities for growth. Recently, the Ministry of Electronics and Information Technology of India has stated that the electronics manufacturing in India is set to register an annual growth rate of 30% over the next five years and the exports of electronic products will grow in the range of 40-50% annually over the next five years.
With the fast expansion of electrical & electronic industry across the globe, the demand for sulfone polymer is gradually increasing which is expected to rise even further through 2030.
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The process cycle for sulfone polymer is more complex than the production of conventional polymer and requires cost-effective raw materials. The manufacturing process of this type of polymer requires high temperature and pressure, which need experts and costly set-up in the laboratory compared to the production of transparent plastics. This is one of the key factors hindering widespread uptake of sulfone polymers.
Furthermore, sulfone polymers have low resistance to UV light and they are vulnerable to attacks by polar solvents such as aromatic hydrocarbons, aromatic ketones, chlorinated solvents, and others. Due to these disadvantages and higher cost, sulfone polymers are yet to be more widely adapted by small to medium companies.
Also, the outbreak of COVID-19 pandemic has slowed down the growth and the market. However, the global market for sulfone polymer is expected to sail through the difficulties owing to the steadily rising demand from the key end users.
North America Sulfone Polymer Market
North America is leading the global sulfone polymer market with the U.S. and Canada at the forefront of driving growth. Accounting for nearly 40% of the global market, North America is expected to continue its dominance through the forecast period. Sulfone polymers are increasingly used in the healthcare industry in the production of anesthesia masks, suture materials, tissue adhesives, vascular grafts, and others.
The steady growth of the healthcare industry in North America has been catering to the growth of market since the past decade. According to the Centers for Medicare & Medicaid Services (CMS), a federal agency within the U.S. department of Health and Human Services, the NHE (National Health Expenditure) grew to $3.6 trillion in 2018 and is projected to reach at $6.2 trillion by 2028.
The rising investment connotes high potential for the expansion of the industry, which will in turn create growth opportunities for the market for sulfone polymers. Also leading companies such as Solvay in 2017 invested in capacity expansion across its polymer and monomer units in Augusta (Georgia) and Marietta (Ohio). Such initiatives by leading companies are expected to bode well for the global market.
East Asia Sulfone Polymer Market
East Asia is the second-leading market of sulfone polymer and according to FMI will sustain the position in the near future. The growing electrical & electronics industry is driving the East Asia market since the past decade. According to the China Information Technology Industry, electronics production in the country in terms of volume grew from 10% in 2016 to above 14% in 2017.
Despite temporary lull following COVID-19 outbreak, the electronics sector in China is reportedly gaining momentum in response to the country’s renewed GDP growth. According to the World Economic Outlook report released in October, the International Monetary Fund (IMF) had projected the country’s economy to surge by 1.9% in 2020. Backed by positive growth trends, China will continue being the leading country in the East Asia market throughout the forecast period.
Europe Sulfone Polymer Market
Europe has emerged as another lucrative region in the global sulfone polymer market backed by the presence of highly advanced healthcare industry, well-developed manufacturing units, and logistics industry.
The rise in demand in the cities such as the U.K, Germany, France, Russia, and others is expected to fuel the sales in Europe in the near future. As per figures released by the Federal Statistics Office, between July and September Germany’s gross domestic product (GDP) grew by above 8% in comparison to the second quarter.
Furthermore, the International Monetary Fund has projected the European economy to rebound by 2021 in its latest studies. Besides this, the presence of top manufacturing companies such as Basell Polyolefins, Sabic, and others will support expansion of the market in Europe.
Healthcare Industry to Emerge Dominant
Healthcare industry is presently the key end user of sulfone polymer. Sulfone polymers comprise not only bulk materials but also coatings and pharmaceutical nano-carriers for drugs. Sulfone polymer has high flexibility to navigate complex anatomical pathways via catheters which makes it highly required in the healthcare industry.
Medical devices are generally exposed to water, plasticizers, lipids, isopropyl alcohol, and various drug related chemicals. Sulfone polymers being resistant to chemicals and temperature have wide applications in medical devices.
According to FMI, the healthcare segment will continue dominating in the global market in terms of end users during the forecast period.
Polyphenylsulfone Polymer to Maintain the Lead
Polyphenylsulfone polymer is currently dominating in the market due to the surge in demand from the diverse end users such as consumer products, industrial processing, healthcare, automotive, and others.
Owing to the various exclusive properties such as impact resistance, high volume to weight resistance, thermal stability, scratch resistance, elasticity, and others, this kind of polymer is highly sought after by the automotive & transportation industry and electronics industry.
This segment will continue leading in the global market in terms of product type through 2030.
The sulfone polymer market exhibits high consolidation besides rising competition. In order to gain competitive advantage, key market players are focusing on product launches, finds FMI in a new study.
For instance, Shandong Horan has launched their new range of sulfone polymer such as CPE-135B, CPE-135A, and others with the properties of excellent flexibility, flame retardancy, heat resistance, and others in the recent year.
CS Hyde has launched their new extensive range of high performance sulfone polymer films such as Kapton®, Mylar®, PEEK, and others in the current year in order to target the key end users.
Some of the key market players are-
- Solvay S.A
- Mitsubishi Chemicals
- Sumitomo Chemicals Co Ltd
- UJU New Materials Co Ltd
- Sino Polymer
- Shandong Horan
- CS Hyde Company
- RTP Chemical Company
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report
Sulfone Polymer Market Report: Scope
Historical Data Available for
USD Million for value and volume (Tons)
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia, Oceania Middle East & Africa
Key Countries Covered
US, Canada, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa
Key Segments Covered
Product Type, End User, and Region
Key Companies Profiled
Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & Pricing
Key Questions Answered by the Report
- At what CAGR is the sulfone polymer market expected to grow?
According to Future Market Insights (FMI), the sulfone polymer market is anticipated to grow at 5.0% CAGR during the forecast period from year 2020 to 2030.
- Which are the top companies in sulfone polymer market?
Some of the top companies in global sulfone polymer market are Solvay S.A, Mitsubishi Chemicals, SABIC, Sino Polymer, and others.
- Which category of sulfone polymer is highly sought-after?
Polyphenylsulfone polymer is witnessing high demand owing to its exclusive properties such as high resistance to impact, better flexibility, elasticity, and others. This segment will continue dominating in the global market between 2020 and 2030 in terms of product type.
- How are companies planning to gain competitive edge in sulfone polymer market?
In order to sustain growth amid competition, key market players are focusing on launching of wider range of products with better qualities.
- Which is the key end user of sulfone polymer?
Healthcare industry is the key end user of sulfone polymer and is expected to remain dominant during the forecast period.
- Which is the largest market for sulfone polymer?
North America is the largest market for sulfone polymer followed by East Asia and Europe.
- What are factors driving global sulfone polymer market?
Rising demand from industries such as automotive & transportation, healthcare, electrical & electronics, consumer products, industrial processing, and others are driving the global sulfone polymer market.
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- Is this research conducted by Future Market Insights?
Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst.
- What research methodology is followed by FMI?
FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions Request detailed methodology.
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- What are the sources of secondary research?
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- Automotive & Transportation
- Consumer Products
- Electrical & Electronics
- Industrial Processing
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East and Africa