According to Global Market Insights, the global sulfone polymers market share was accounted at $1.66 billion in 2020, and is expected to surpass $2.3 billion by 2027, registering a CAGR of 4.9%.
Sulfone polymers are gaining penetration in the automotive, electrical & electronics, aerospace, consumer goods, and healthcare sectors. The material exhibits features like sterilizing ability, robust strength, and other key capabilities that are required by these industries. It is also gaining recognition in view of growing demand for replacing metals with high performance plastic along with its ability to resist high temperature. On the basis of such diverse features, sulfone polymers are likely to record commendable demand from the healthcare, aerospace, and automobile arenas, expanding its industry share.
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In Asia Pacific, the sulfone polymers market is expected to hold a dominating share as to growing construction activities in the countries like Australia, India, China, and Indonesia. The demand for electronic products like adjacent electrical wiring and related products could influence the supply and demand for sulfone polymers. Apart from this, rising acceptance of sulfone polymers in the region’s healthcare industry could contribute to increasing its regional market size. Generally, sulfone polymers exhibits high resistance to germicides, cold sterilant and disinfectants.
The key players operating in the sulfone polymers market are focusing on taking various strategic initiatives for staying competitive in the market. Initiatives like expansion, mergers, accommodations, and new product launches are some of many strategies adopted by companies in this landscape. For instance, Youju New Materials Co., Ltd. in 2018 expanded its sulfone polymer production capacity to 15,000 MT/year. While, BASF SE extended a novel polyphenylsulfone-grade Ultrason P2010 with its Ultrason P product range in December 2019.
Estimates suggest that the electrical and electronics sector is anticipated to witness a 5.6% CAGR by 2027. Rising application of sulfone polymers in connectors, injection-molded printed circuit panels, power contactors, relays parts, coil formers, semiconductor switches, battery cases, power circuit breakers parts, socket and plug connectors, and other electronic components could supplement projected growth. Decent economic growth, FDI in new innovations, sophisticated production technology, and a growing consumer base for electric devices and components across regions like North America could foster global sulfone polymers market share.
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Estimates suggest that due to its exceptional properties like and tensile modulus in elasticity and temperature resistance, polyethersulfone (PESU) may account for a significant share in the sulfone polymers industry. In the year 2020, the segment held for over 33% share and is expected to grow at the highest CAGR of over 5.3% by 2027.
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