Sulfone Polymers Market By Product (Polyethersulfone, Polysulfone and Polyphenylsulfone), By End-User (Consumer Goods, Electrical & Electronics, Aerospace, Automotive, Medical & Industrial)

Ocean View, DE -- (SBWire) -- 05/25/2020 --Global Sulfone Polymers Market size was estimated at USD 1.5 Billion in 2016 and is projected to surpass USD 2 Billion by the year 2024. Sulfone Polymers Market report provides in-depth information about Industry overview, top vendors, Key market highlights, drivers, challenges, trends, industry landscape, size and forecast.

Sulfone polymers market size has been forecast to be fueled by the product's diverse utilization range in various end-use domains, mainly because of the combination of its characteristics that make it highly heat resistant, mechanically tough, resilient to hydrolysis and transparent in high temperatures. Sulfone polymers find widespread usage across the automotive and aerospace industries, that require the application of thermally stable and light weight but tough plastic components.

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The growth of sulfone polymers industry can also be attributed to the product's demand from the medical sector, owing to the fact that various polymers including polysulfone (PSU) and polyphenylsulphone (PPSU) have found varied usage in healthcare. It is noteworthy to mention that polyethersulfone (PESU) has contributed greatly to the growth of the sulfone polymers market in the pharmaceutical and biotechnology sectors, as it is a basic ingredient for filtration membranes.

The aerospace and automotive sectors, in recent times, have been moving away from using metals and leaning towards using engineering plastics to reduce weight and increase the fuel efficiency of aircrafts and vehicles. Sulfone polymers are widely used in these industries to manufacture vehicle and aircraft components that are highly creep resistant, register low mold shrinkage and remain stable at high temperatures.

Automotive industry has a considerably huge share in the sulfone polymers market registering a CAGR close to 6% over 2017-2024. The application of sulfone polymers in aerospace industry has also been on a rise, as the demand for light but highly heat resistant material used to manufacture aircraft radomes, connectors and terminal blocks has been increasing lately. In consequence, this would have a commendable impact on sulfone polymers market share from the aerospace sector.

Key players are

1. Specialty Polymers USA LLC
2. Sumitomo Corporation
3. PolyOne Corporation
4. BASF SE
5. Sino Polymer
6. Jiangmen Youju New Materials Co. Ltd.
7. Evonik Industries AG
8. GEHR GmbH.
9. Ovation Polymers.Inc.
10. Infinity LTL Engineered Compounds.
11. RTP Company
12. Oxford Polymers
13. Centroplast Engineering Plastics GmbH
14. Quadrant AG Ltd
15. Westlake Plastics Company

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Asia Pacific has been projected to witness the fastest growth in sulfone polymers market over the forthcoming seven years, driven by the growing automotive and aerospace industries in the emerging economies of China and India. The multibillion-dollar sulfone polymers market firm, Solvay has recently invested heavily in India to expand its plant capacity at Panoli.

Solvay alone has projected the increase of its global sulfone polymer production by 35% in the next 5 years, with significant investments in Asia and USA. Speaking of which, North America accounts for a major share in the production of leading medical instruments and automobiles. Driven by the demand for high performance engineering plastic in these industries, North America sulfone polymers market will witness a CAGR of 6.2% over 2017-2024.

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Sulfone Polymers Market is Likely to Reach $2 Billion by 2024

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