Future Market Insights (FMI) predicts the global sulfone polymers market value to top US$ 1,343.9 million in 2023. According to the FMI market analysis report, the demand for sulfone polymers globally is projected to grow at 5.0% CAGR between 2023 and 2033.
Countries such as the United States, China, South Korea, Germany, Russia, and Canada account for a substantial portion of the global market share. With the contribution of these leading regions, the sulfone polymers' global sales value is anticipated to reach US$ 2,189.1 million by 2033.
Rapid industrialization and the growing automotive sector are expected to remain key factors driving the growth of the market. Growing concerns among automotive manufacturers to reduce overall vehicle weight, owing to increasing government regulations on automotive fuel efficiency might be a further driving factor. Moreover, the growing demand for sulfone polymers in the medical and healthcare sector is anticipated to increase the sales of sulfone polymers in the coming years.
To cater to the growing demand for sulfone polymers in the consumer electronics and appliances sector, key players are expanding their production capacities. Key players are further investing in R&D to provide high-quality products, which is also expected to bolster market growth.
In recent years, derivatives of sulfone polymers are setting new standards in the aesthetics of consumer electronics and appliances. This major shift is expected to contribute significantly to the proliferation of sulfone polymer industries around the world.
Demand for sulfone polymers from new end-use sectors such as consumer products and industrial processing is also expected to present new opportunities. So key players are continuously searching for ways to provide high quality polymers pushing investments in the sulfone polymers market.
Attributes | Details |
---|---|
Sulfone Polymers Market Value (2022A) | US$ 1,278.4 million |
Sulfone Polymers Market Estimation (2023E) | US$ 1,343.9 million |
Sulfone Polymers Market Forecast (2033F) | US$ 2,189.1 million |
Value CAGR (2023 to 2033) | 5.0% |
Collective Value Share: Top 3 Countries (2021A) | 52.6% |
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Market Statistics | Details |
---|---|
H1,2021 (A) | 4.7% |
H1,2022 Projected (P) | 4.8% |
H1,2022 Outlook (O) | 4.3% |
BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 50 ↓ |
BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 40 ↓ |
FMI presents a half-yearly comparison and insightful analysis of the sulfone polymers market growth outlook. Significant increases in the adoption of sulfone polymers in aircraft, automobiles, and medical applications are certain macro-level factors influencing industrial growth.
The global sales for Sulfone Polymers witnessed a growth rate of 4.7% over the first half of 2021. However, it still witnessed a decline of 50 bps points in growth over the first half of 2022.
The growth outlook significantly varied across several regions with India, China, Brazil, and ASEAN countries witnessing higher growth outlooks owing to rapid industrialization. Despite the considerable decline in sulfone polymers sales over the first half of 2022, the market is expected to witness substantial growth through 2033.
Sales of sulfone polymers increased at 3.7% CAGR, during the years following 2018 before descending during the sales year 2020 to 21. Sales prospects in 2020 were dampened due to the outbreak of the pandemic which reduced the average CAGR up to 1.5% for the years 2018 to 2022.
The impact of the COVID-19 pandemic on the chemicals and materials industry was moderate. Several production facilities were entirely shut down because of the lockdown, which had a direct impact on sales of sulfone polymers in several regions. However, the pandemic led to an increase in demand for sulfone polymers from the healthcare sector partly retaining the product performance in the regional markets.
Sulfone polymers like polysulfone are widely used in medical equipment due to beneficial properties like high-temperature resistance, and high hydrolysis strength. These properties helped the polymers to stay in demand throughout the pandemic times and saved the sulfone polymers market from a further drop.
As numerous production facilities have regained their market position, the industry is progressively rebounding from losses, resulting in positive sales prospects. Increasing prospects of polyphenylsulfone polymers are also expected to boost demand for the product in the forthcoming years.
There is also an upsurge in automotive production, which is expected to bode well for the global sulfone polymers market in the forthcoming years. As a result, the sulfone polymers market is projected to grow by US$ 845.2 million in terms of absolute value over the next ten years.
Globally, the production of vehicles has significantly increased in the last couple of years. Key automotive manufacturers are emphasizing cost-effective methods for incorporating polymer composites in large volumes.
Increasing focus on automotive fuel efficiency is encouraging OEMs to manufacture lightweight vehicles, which is driving the demand for high-performance polymers like polysulfone and polyethersulfones. This is expected to provide an impetus to higher uses of sulfone polymers and urges manufacturers to boost their production and supply.
Rapid industrialization in regions such as the Asia Pacific is expected to elevate automotive production, which could also strengthen the polyethersulfone market demand. This is owing to the product's significant properties such as light weight, strength, and elasticity.
The United States is projected to account for a prominent share of the total sales of sulfone polymers in the North American market. In 2022, the United States sulfone polymers market value reached US$ 402.0 million growing at an average 5.3% CAGR in the preceding years.
The United States ranks among the top countries in terms of the annual production of automobiles requiring different types of polymers at a higher amount. Moreover, the presence of leading companies like RTP Company is expected to bolster the growth of these polymers in the country.
Strong development in the healthcare sector has significantly contributed to the growth of the demand for sulfone polymers in the United States. High investments in research and development to bring into the market advanced automotive technologies are augmenting the sales of sulfone polymers in the country.
Regional Markets | Global Market Share |
---|---|
United States | 31.6% |
Germany | 6.1% |
Japan | 4.3% |
Australia | 0.8% |
Germany is projected to account for 6.3% of the global market share by end of the year 2033. The country’s demand for sulfone polymers is catered by a number of suppliers and distributors present in the region. This facilitates the growing sales of sulfone polymers in multiple end-use industries and is expected to advance in the coming days.
Significant growth in the healthcare and automotive industries is expected to augment the growth of the sulfone polymer industries in the country. Alongside this, profit-bearing growth strategies and product innovations by many key players are expected to propel sales of sulfone polymers over the assessment period.
Regional Markets | CAGR (2023 to 2033) |
---|---|
United Kingdom | 6.4% |
China | 8.2% |
India | 8.8% |
As per the Asia Pacific market report, China is projected to account for a fair share in the global production and sales of sulfone polymers. China's market is poised to grow at 8.2% further creating an incremental opportunity of above US$ 70.8 million between 2023 and 2033.
On the other hand, India is expected to emerge as a key producer of sulfone polymers owing to rapid industrialization in the country. The country has multiple manufacturing facilities for the production of sulfone polymers that are projected to develop at an average of 8.8% CAGR through 2033.
Sulfone polymer manufacturers in the Asia Pacific region have high export potential and are expanding their reach in the overseas market. Also, it is a potentially lucrative region for global players as the product is to be in high demand in the coming years.
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The polyphenylsulfone polymers constitute the dominant market segment and contributed for nearly 42.6% of the revenue generated in 2022. Meanwhile, with ease in production and low production cost, the polysulfone product type is gaining traction in recent years in the global market.
Demand for polysulfone polymers is generated from end uses such as automotive, health care, and consumer goods among others. Owing to these factors, sales of polysulfones are projected to increase promisingly over the forecast period.
However, there has also been a growth in preference for polyphenylsulfone in industries based in East Asia and South Asia. Sales of polysulfone sulfone polymers are expected to grow at a significant value of 5.4% CAGR, over the forecast period.
Amongst the various industrial end-use segments, the automotive and transportation application segment is projected to remain the key segment in the coming years as well. FMI anticipates this segment could create an absolute dollar opportunity of more than US$ 150 million during the period of 2023 to 2033.
Owing to low weight and high strength properties, sulfone polymer is experiencing significant growth in the automotive & transportation industry. By the conclusion of this projected period, the automotive and healthcare end-use segments together are expected to account for close to two-ninth of global demand.
Furthermore, there has been an advancement in technology with the opportunity of polysulfone polymers replacing metal composites owing to their favorable properties. This will continue providing tailwinds to sulfone polymer sales over the assessment period.
Leading players operating in the sulfone polymers market are focusing on advancement in technology for developing sulfone polymers with the latest technology. Key players are also launching innovative products made of polymers to serve more end users of sulfone in their domestic market. For instance:
Apart from this, players are focusing on strategic mergers and acquisitions, and collaborations in order to gain a competitive edge. For instance:
Attribute | Details |
---|---|
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
Market Analysis | US$ million for Value and Tons for Volume |
Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; and the Middle East & Africa (MEA) |
Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Italy, United Kingdom, France, Spain, BENELUX, Russia, South Korea, Japan, China, India, ASEAN, GCC Countries, Morocco, Turkey, and South Africa |
Key Segments Covered | By Product Type, By End Use, and By Region |
Key Companies Profiled | Mitsubishi Chemicals Holdings Corporation; Sumitomo Chemical Co., Ltd.; Solvay SA; Saudi Basic Industries Corporation (SABIC); Sino Polymer; UJU New Materials Co Ltd.; Shandong Horan; RTP Company |
Report Coverage | Market Forecast, Brand Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
Customization & Pricing | Available upon Request |
The global sulfone polymers market is to grow at 5% during the forecast period.
The global market is predicted to be valued at US$ 2,189.1 million by 2033.
The global sulfone polymers market was valued at US$1,278.4 million in 2022.
The United States accounts for nearly 31.6% revenue share of the global market.
India is predicted to witness a CAGR of 8.8% in sales of sulfone polymers through 2033.
1. Executive Summary | Sulfone Polymers Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Product Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Product Type, 2023 to 2033
5.3.1. Polysulfone
5.3.2. Polyethersulfone
5.3.3. Polyphenylsulfone
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By End Use, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By End Use, 2023 to 2033
6.3.1. Automotive & Transportation
6.3.2. Healthcare
6.3.3. Electrical & Electronics
6.3.4. Consumer Products
6.3.5. Industrial Processing
6.3.6. Others
6.4. Y-o-Y Growth Trend Analysis By End Use, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By End Use, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. MEA
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. The USA
8.2.1.2. Canada
8.2.2. By Product Type
8.2.3. By End Use
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Product Type
8.3.3. By End Use
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Product Type
9.2.3. By End Use
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Product Type
9.3.3. By End Use
9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. United Kingdom
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Product Type
10.2.3. By End Use
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product Type
10.3.3. By End Use
10.4. Key Takeaways
11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.1.4. Singapore
11.2.1.5. Thailand
11.2.1.6. Indonesia
11.2.1.7. Australia
11.2.1.8. New Zealand
11.2.1.9. Rest of Asia Pacific
11.2.2. By Product Type
11.2.3. By End Use
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product Type
11.3.3. By End Use
11.4. Key Takeaways
12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. GCC Countries
12.2.1.2. South Africa
12.2.1.3. Israel
12.2.1.4. Rest of MEA
12.2.2. By Product Type
12.2.3. By End Use
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product Type
12.3.3. By End Use
12.4. Key Takeaways
13. Key Countries Market Analysis
13.1. USA
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2022
13.1.2.1. By Product Type
13.1.2.2. By End Use
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2022
13.2.2.1. By Product Type
13.2.2.2. By End Use
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2022
13.3.2.1. By Product Type
13.3.2.2. By End Use
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2022
13.4.2.1. By Product Type
13.4.2.2. By End Use
13.5. Germany
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2022
13.5.2.1. By Product Type
13.5.2.2. By End Use
13.6. United Kingdom
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2022
13.6.2.1. By Product Type
13.6.2.2. By End Use
13.7. France
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2022
13.7.2.1. By Product Type
13.7.2.2. By End Use
13.8. Spain
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2022
13.8.2.1. By Product Type
13.8.2.2. By End Use
13.9. Italy
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2022
13.9.2.1. By Product Type
13.9.2.2. By End Use
13.10. China
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2022
13.10.2.1. By Product Type
13.10.2.2. By End Use
13.11. Japan
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2022
13.11.2.1. By Product Type
13.11.2.2. By End Use
13.12. South Korea
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2022
13.12.2.1. By Product Type
13.12.2.2. By End Use
13.13. Singapore
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2022
13.13.2.1. By Product Type
13.13.2.2. By End Use
13.14. Thailand
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2022
13.14.2.1. By Product Type
13.14.2.2. By End Use
13.15. Indonesia
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2022
13.15.2.1. By Product Type
13.15.2.2. By End Use
13.16. Australia
13.16.1. Pricing Analysis
13.16.2. Market Share Analysis, 2022
13.16.2.1. By Product Type
13.16.2.2. By End Use
13.17. New Zealand
13.17.1. Pricing Analysis
13.17.2. Market Share Analysis, 2022
13.17.2.1. By Product Type
13.17.2.2. By End Use
13.18. GCC Countries
13.18.1. Pricing Analysis
13.18.2. Market Share Analysis, 2022
13.18.2.1. By Product Type
13.18.2.2. By End Use
13.19. South Africa
13.19.1. Pricing Analysis
13.19.2. Market Share Analysis, 2022
13.19.2.1. By Product Type
13.19.2.2. By End Use
13.20. Israel
13.20.1. Pricing Analysis
13.20.2. Market Share Analysis, 2022
13.20.2.1. By Product Type
13.20.2.2. By End Use
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Product Type
14.3.3. By End Use
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. BASF SE
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.1.5.2. Product Strategy
15.1.1.5.3. Channel Strategy
15.1.2. Mitsubishi Chemicals Holdings Corporation
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.2.5.2. Product Strategy
15.1.2.5.3. Channel Strategy
15.1.3. Sumitomo Chemical Co., Ltd.
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.3.5.2. Product Strategy
15.1.3.5.3. Channel Strategy
15.1.4. Solvay SA
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.4.5.2. Product Strategy
15.1.4.5.3. Channel Strategy
15.1.5. Jinmen Youju New Materials Co.
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.5.5.2. Product Strategy
15.1.5.5.3. Channel Strategy
15.1.6. Sino Polymer
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.6.5.2. Product Strategy
15.1.6.5.3. Channel Strategy
15.1.7. UJU New Materials Co Ltd.
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.7.5.2. Product Strategy
15.1.7.5.3. Channel Strategy
15.1.8. Shandong Horan
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.8.5.2. Product Strategy
15.1.8.5.3. Channel Strategy
15.1.9. RTP Company
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.9.5.2. Product Strategy
15.1.9.5.3. Channel Strategy
15.1.10. Evonik Industries AG
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.10.5.2. Product Strategy
15.1.10.5.3. Channel Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
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