Polyarylsulfone Market - Forecast(2023 - 2028)

Polyarylsulfone Market Overview

The Polyarylsulfone Market size is forecasted to grow at a CAGR of 6.1% during 2022-2027. Polyarylsulfones are a family of high-performance thermoplastics that are known for their stability and toughness at high temperatures and contain an aryl-sulfur-di-oxide-aryl subunit. The usage of polyarlsulfone such as polyethersulfone (PESU), polyphenylsulfone (PPSU), polyethylenimine (PEI) and others, in various end-use industries, is projected to drive the Polyarylsulfone industry’s growth. These are utilized in medical devices in the medical and healthcare industry. Additionally, in the foods and beverages industry, polyarlsulfone is utilized for making membranes for quality filtration and in other applications, which is further anticipated to boost the growth of the Polyarylsulfone Market size over the projected timeframe. The global economic downturn caused by the COVID-19 pandemic resulted in a huge drop in demand for automobiles, electrical and electronic consumer goods and others, all across the world, which had a significant impact on the growth of the Polyarylsulfone Market.

Polyarylsulfone Market Report Coverage

The “Polyarylsulfone Market Report – Forecast (2022 - 2027)” by Industry ARC, covers an in-depth analysis of the following segments in the Polyarylsulfone Industry.

Key Takeaways

• The Asia-Pacific region dominates the Polyarylsulfone Market owing to the rising growth in the food & beverages industry. For instance, in February 2022, TH Group commenced the development of the Thai Binh food processing factory in Vietnam.
• Rapidly rising demand for Polyarylsulfone in the food & beverage industry for making membranes for quality filtration, has driven the growth of the Polyarylsulfone Market.
• The increasing demand for Polyarylsulfone in the medical & healthcare sector, due to its usage in the production of medical devices and other applications, has been a critical factor driving the growth of the Polyarylsulfone Market in the upcoming years.
• However, environmental effects caused by Polyarylsulfone can hinder the growth of the Polyarylsulfone Market.

Figure: Asia-Pacific Polyarylsulfone Market Revenue, 2021-2027 (US$ Million)

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Polyarylsulfone Market Segment Analysis – By Type

The Polyethersulfone (PESU) segment held the largest Polyarylsulfone Market share in 2021 and is expected to grow at a CAGR of 6.3% during 2022-2027. Polyethersulfone is extensively used in printed circuits, machine guards, connectors, safety face shields and high-intensity light bases, due to its excellent characteristics such as transparency, good electrical property at extreme temperatures, low smoke generation and good chemical resistance as compared to other Polyarylsulfone types such as polyphenylsulfone (PPSU), polyethylenimine (PEI) and others. PESU is employed for the manufacturing of valves and pumps for use in electrochemical and chemical industries and in process equipment. Thus, the exhibited characteristics of polyethersulfone (PESU) make it a preferred choice over the other Polyarylsulfone types, which is driving its segmental growth.

Polyarylsulfone Market Segment Analysis – By End-Use Industry

The automotive industry held a significant Polyarylsulfone Market share in 2021 and is estimated to grow at a CAGR of 6.7% during the forecast period 2022-2027. Polyarylsulfone plastic exhibits excellent tolerance to temperatures for longer durations and is a high-temperature engineering thermoplastic. They offer high rigidity and mechanical strength, along with low notch sensitivity. Polyarylsulfone such as polyethersulfone (PESU), polyphenylsulfone (PPSU), polyethylenimine (PEI) and others, finds usage in different applications in the automotive industry such as in cooling oil circuits and water in automotive electric housing, connectors and transmissions. The automotive industry is growing, for instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in Austria, motor vehicle production increased from 86,300 units in 2020 to 92,000 units in the year 2021. Similarly, in the USA, the production of motor vehicles increased from 62,39,401 units in 2020 to 68,57,182 units in the year 2021. With the increasing production of automobiles, it is estimated that in the upcoming years the requirement for Polyarylsulfone in the automotive industry will rise. This will boost the growth of the market in the automotive sector.

Polyarylsulfone Market Segment Analysis – By Geography

Asia-Pacific region dominated the Polyarylsulfone Market share by 43% in the year 2021, owing to the increasing investments in the medical and healthcare industry and rising automotive production in the region. China is estimated to witness growth in the demand for Polyarylsulfone due to the demand from the automotive, medical and healthcare, foods & beverages industries, for instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the total automobile production in China reached 2,60,82,220 units in 2021, an increase from 2,52,25,242 units in 2020 and 2,57,20,665 units in 2019 respectively. Additionally, India and South Korea also witnessed significant growth in the automotive industry. For instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the total automobile production in India reached 43,99,112 units in 2021, an incline of 30% from 33,94,446 units in 2020. Moreover, according to recent insights from the South Korean Ministry of Trade, Industry and Energy, automobile production in South Korea amounted to 271,054 units in December 2021. Such increasing automotive production in the APAC countries is anticipated to increase the demand for Polyarylsulfone in the forecasted period and is proving to be a market booster for the Polyarylsulfone Market size in this region

Polyarylsulfone Market Drivers

Growing Medical & Healthcare Industry:

The rise in the aging population and advancements in the medical and healthcare industry will increase the usage of thermoplastic polyarlsulfone, such as in anesthesia masks, filter housings, heart valve sizers, dialysis filtration cartridges, implantable catheter ports, surgical instrument tray covers and other applications. The demand for polyarlsulfone such as polyethersulfone (PESU), polyphenylsulfone (PPSU), polyethylenimine (PEI) and others is increasing, due to the developments and advancements in medical devices. The medical and healthcare sector is growing, for instance, according to International Trade Administration, in Mexico, the total local production of medical devices and equipment increased from US$16.80 billion in 2020 to US$15.12 billion in 2021. Additionally, according to International Trade Administration, in China, the medical device market is expected to expand by a 2020-2025 CAGR of 6.2%, which should see it rise to US$38.4 billion by 2025. Thus, with the growing demand for medical applications such as devices and other applications, in the medical and healthcare industry, the polyarlsulfone market would further rise over the forecast period.

Increasing Foods and Beverages Industry:

In the food and beverage industry, polyarlsulfone is utilized for making membranes for quality filtration. Changing consumer preferences for safe and hygienic food items are driving the demand for filtration, which in turn is rising the demand for the polyarlsulfone industry in membrane production. In the food industry, it is utilized for making various cereals while in the beverages industry, polyarlsulfone is utilized for juices and beer manufacturing. The food and beverage industry is growing, for instance, in May 2021, Bunge Loders Croklaan, invested more than EUR 300 million (US$ 346.5 million) to build a new sustainable food processing facility in Amsterdam, Netherlands, which is estimated to be completed by the end of 2024. Moreover, the food & beverage market of South Korea is expected to reach US$99.28 billion by 2024, witnessing a CAGR of 3.9% according to the British Chamber of Commerce in Korea. Thus, with the growth of the food and beverage sector, the demand for membranes for food and beverage item production will increase, which will drive the growth of the market for polyarlsulfone over the forecast period.

Polyarylsulfone Market Challenges

The Adverse Effects of Polyarylsulfone on the Environment:

The Polyarylsulfone plastic membrane has played a crucial role in enhancing water treatment and food & beverages industries. The ineffective recycling, non-biodegradable nature and long-term use of plastic membranes have caused environmental pollution. Inaccurate disposal of these plastics entangles equipment, creates hazards for livestock and wildlife and clogs water channels. Polyarylsulfone plastic releases particulate matter and heavy metals on burning, which hamper the photosynthesis of plants and contribute to air pollution. Also, these polymers produce residues, that contaminates land and contribute to the global plastic pollution. For instance, according to the United Nations Environment Programme (UNEP), plastic pollution in rivers, oceans and other water bodies continues to rise and by 2030 it is estimated to get double, with a global plastic waste production of 275 million tonnes per year. Thus, environmental effects caused by Polyarylsulfone will create hurdles for the market's growth.

Polyarylsulfone Market Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies players adopt in the Polyarylsulfone Market. The top 10 companies in the Polyarylsulfone Market are:

1. BASF SE
2. Solvay Chemical Company
3. SABIC Innovative plastics
4. Ensigner Inc.
5. Sumitomo Chemicals
6. Quadrant Engineering Plastics Product
7. NYTEF Plastics Ltd.
8. Polymer Dynamix
9. Westlake Plastics Company
10. Techmer PM

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