Sulfone polymers, also known as poly(aryl ether sulfone) or PAES, are a class of thermoplastic polymers characterized by excellent hydrolytic stability, chemical resistance, high modulus and strength at elevated temperatures. Sulfone polymers find wide application in automotive, medical devices, aircraft interiors and aerospace owing to their inherent flame retardancy, oxidative stability and ability to withstand high pressure and temperature.
The global Sulfone Polymer Market is estimated to be valued at US$ 2.65 Bn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand from the automotive industry is one of the key trends driving the growth of the sulfone polymer market. Sulfone polymers are increasingly being used to manufacture lightweight auto-components such as fuel lines, oil sumps, air ducts and manifolds owing to their high heat resistance and strength. The shift towards electric vehicles and hybrid vehicles has also propelled the demand for sulfone polymers as they are ideal for applications such as battery cases, cooling modules and insulation for wiring harnesses due to their high dielectric strength, thermal stability and flame retardancy. Their growing use in automotive applications is expected to boost the consumption of sulfone polymers over the forecast period.
SWOT Analysis
- Strength: Sulfone polymers have excellent chemical and heat resistance properties which make them suitable for use in a wide range of industries like automotive, healthcare, aerospace etc.
- Weakness: Sulfone polymers have high manufacturing and production costs compared to alternative polymers.
- Opportunity: Increasing demand from end use industries like automotive, aircrafts, and electronics where resistance to chemicals and heat is crucial is driving the growth of sulfone polymer market.
- Threats: Availability of alternative polymers like PEEK and PEK which offer similar properties at lower costs can hamper the growth of sulfone polymer market.
Key Takeaways
The global sulfone polymer market is expected to witness high growth. The global Sulfone Polymer Market is estimated to be valued at US$ 2.65 Bn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the global sulfone polymer market and is expected to witness the highest growth during the forecast period. Countries like China, Japan and South Korea are major contributors to the growth of sulfone polymer market in Asia Pacific owing to presence of large automotive, aircraft and electronics manufacturing industries in these countries. North America and Europe are other key markets for sulfone polymers.
Key players
Key players operating in the sulfone polymer market are Solvay, BASF, Sumitomo, Evonik, Sabic, Ensinger GmbH, PolyOne Corporation, RTP Company, Mitsubishi Chemical, Omnia Plastica SPA. The major players are focusing on capacity expansion and new product launches to gain maximum share in the sulfone polymer market during the forecast period.
