Global Sulfone Polymers Market Extends at a Healthy CAGR of 4.78% by 2030

Introduction

Sulfone polymers consist of -SO2 or sulfone-binding moieties. The inherent colour of sulfone resins is transparent ember-light. Long-term exposure to air or steam has little impact on transparency. There are also mineral-filled and glass-reinforced formulations of these resins, which change their colour to opaque and boost their strength, stiffness, and thermal stability. They are high-performance thermoplastics with several advantageous chemical properties, such as resilience to higher temperatures, superior toughness, strength, and hydrolytic stability compared to other transparent plastics. Due to sulfone's relatively high melt viscosity under processing circumstances, sulfone polymers also enable the moulding of identically characterized parts.

The rise of numerous end-use industries, such as aerospace, automotive, consumer electronics, and healthcare, is one of the primary growth factors of the worldwide sulfone polymers market. Sulfone polymers have a wide range of applications across various materials within these industries; hence, the growth of these industries appears to contribute to the market growth. The automotive industry is predicted to grow at a CAGR of around 3%, while the aerospace industry is anticipated to expand at approximately 10%. Additionally, the aircraft industry has transitioned from metals to composite materials using sulfone polymer, which offers lower weight and enhanced strength. Due to their inertness and exceptional heat stability, sulfide polymers are utilized in medical applications that need sterilization and autoclaving. Its resistance to corrosion, rigidity, and tenacity make it appropriate for use in the automotive industry. In addition to pots, pans, and various microwave ovens, sulfone polymers can also be used to produce cookware.

Market Dynamics

Expansion of the Automotive Industry

Global vehicle production has increased considerably in recent years. Rapid expansion in regions like Asia-Pacific is predicted to enhance automotive production, raising the demand for polysulfones. This is due to its exceptional features, such as its lightweight, resilience, and flexibility. Top automakers prioritize ways to combine polymer composites in large quantities that are economical. The need for high-performance polymers such as polysulfone and polyethersulfones is fueled by the government's growing fuel efficiency standards for automobiles, which force automakers to produce lighter vehicles. With the expansion of the automotive industry and automobile production, the demand for efficient sulfone polymers will increase considerably. It is predicted that this will drive demand for sulfone polymers and encourage manufacturers to enhance production and supply.

Utilization expanding in the electrical and electronic industries

Increasing application in the electrical & electronics industry is expected to drive the global sulfone polymers market over the next several years. In electrical and electronic applications, the demand for sulfone polymers is primarily driven by their better flame resistance. The market is predicted to develop as a consumer and industrial electronics demand rises. The high stiffness, tensile strength, and corrosion resistance of sulfone polymers have increased their application in automobile and aircraft interiors. The market for sulfone polymers is projected to be driven shortly by the rising automotive and aviation sectors. Sulfone polymers are allowed in culinary applications due to their low toxicity. Due to their physical resistance to steam, these polymers are used in the food packaging industry. The increased daily consumption of packaged goods is anticipated to drive future industry expansion. These polymers are also used to manufacture medical, dental, and orthopaedic devices. The rising need for medical equipment will drive the sulfone polymers market during the next six years. Due to their exceptional strength, these polymers are also used to manufacture coatings, composites, fuel systems, pipes, and fittings. The growing demand for these products is projected to expand the global market.

The global expansion of research and innovation

Rapid technological breakthroughs in the automotive and aerospace industries have boosted the demand for sulfone polymers with exceptional performance. Due to their exceptional heat resistance and strength, sulfone polymers are utilized to manufacture aircraft radomes. In addition, the aircraft industry has observed a move from metals to composite materials consisting of sulfone polymers and fibreglass due to their lighter weight and higher strength. This also contributes to the increasing demand for sulfone polymers on the market. Sulfone polymers can be readily processed into membranes with pores of different widths, as small as 40 nanometers. These membranes are utilized extensively in the wastewater treatment, gas separation, and food and beverage industries. These polymers are also utilized to manufacture cookware that is microwave safe and resistant to a wide range of temperatures. Sulfone polymers create an easy-to-clean, non-stick surface. Therefore, the bulk of consumers likes them. As proton-exchange membranes in fuel cells, sulfonated polyethersulfones, a sulfone polymer, exhibit superior characteristics to standard aromatic hydrocarbon-based polymers. Sulfone polymers are utilized in several medical applications, including autoclaving and sterilization, due to their superior heat stability and resistance to hydrolysis. The rise of the global market for sulfone polymers is related to their widespread application across numerous sectors.

Regional analysis of the Global Sulfone Polymers Market

Consumption and manufacturing significantly contribute to North America's prominence as a regional market. Aerospace and automotive applications account for the majority of the region's demand for sulfone polymers. The United States is one of the area's top producers of sulfone polymers, with Mexico having the most significant demand potential throughout the forecast period. As a result of the increasing demand for sulfone polymers in applications such as vehicles, electronic components, and aeroplanes, the market in Asia and the Pacific is projected to expand at the fastest rate during the forecast period. It is projected that rising vehicle production in Japan, India, and China will contribute to the rise of the regional market. The demand for sulfone polymers in electronic components is projected to be primarily driven by the rising manufacturing of electronic goods in China and Taiwan.

It is expected that the market in Germany will increase at a CAGR of approximately 4.3%, while the market in the Rest of Europe (as defined in the study) will reach $313,9 Million by the end of the year under review. The United States is a vital market because of its expansive aerospace and automobile industries. Several factors, including rapid urbanization, rising consumer disposable incomes, and rapid urbanization, contribute to the region's economic expansion. Strong growth in end-use sectors is a direct effect of the expansion of the economy as a whole.

Key highlights

• The Global Sulfone Polymers Market was valued at $ 1.73 billion in 2021, and is projected to reach $ 2.60 billion by 2030, registering a CAGR of 4.78 % from 2022 to 2030.
• The automotive sector is projected to develop at a CAGR of approximately 3%, while the aerospace industry is projected to grow at a CAGR of approximately 10%.
• By product type, the global market for sulfone polymers is divided into three categories: polysulfone, polyethersulfone, and polyphenylsulfone, as well as other types.
• The medical industry currently controls the largest and most significant portion of the market.
• Consumption and production contribute significantly to North America's status as a significant regional market.

Competitive Players

Competitive players in the global Sulfone Polymers market

The major players in the global Sulfone Polymers market – Polymers USA LLC, Sumitomo Corporation, PolyOne Corporation, BASF SE, Sino Polymer, Jiangmen Youju New Materials Co. Ltd., Evonik Industries AG, GEHR GmbH., Ovation Polymers. Inc., Americhem Engineered Compounds.

Recent Developments

Recent Developments by key players

• In May 2022, Sumitomo Corporation, Acceleration of Study on establishing ammonia supply chain for bunkering in Singapore and Receipt of Approval in Principle for Ammonia bunkering vessel.
• In March 2022, Sumitomo Corporation, Completion of the Mine Life Extension Development at the Northparkes Mine in Australia.
• In June 2022, Confoil and BASF cooperate to develop certified compostable dual ovenable paper tray for packaging of ready-to-eat meals
• In June 2022, BASF expands production capacity in China for industry-leading cathode active materials and achieves multi-ton scale manufacturing for manganese-rich products

Segmentation

The Global Sulfone Polymers Market Segmentation

By Product Type

• Polysulfone (PSU)
• Polyethersulfone (PESU)
• Polyphenylsulfone (PPSU)
• Others

By Application

• Medical
• Automotive
• Aerospace
• Consumer Goods
• Electrical and Electronics

By Region

• North America
• Europe
• Asia Pacific
• LAMEA