Germany is projected to account for 6.3% of the global sulfone polymers market share by 2030. China sulfone polymers market is projected to grow at an impressive 4.4% CAGR during the forecast period. High demand from the medical sector, growing end-use industries, strategic acquisitions and mergers, and product launches of innovative products are driving sales of sulfone polymers.
NEWARK, Del., Nov. 22, 2022 /PRNewswire/ — According to research conducted by Future Market Insights on the global sulfone polymers market is anticipated to grow at a steady CAGR of 5.0% during the projection period from 2022 to 2030. The global market is expected to be valued at US$ 1,278.4 Mn in 2022 and surpass a valuation of around US$ 1,888.5 Mn in 2030.
As per the historic analysis done by Future Market Insights, the global sulfone polymers market registered a year-on-year (YoY) growth of 4.8% in 2021. Despite a reasonable decline in the growth of the sulfone polymers market during the first half of 2022, the market is expected to enjoy substantial growth during the coming years.
As per the reports of Future Market Insights, the global sales of the market witnessed a growth rate of 4.7% over the first half of 2021, which is predicted to witness a decline of around 50 bps points in the growth over the first half of 2022.
Request a Report Sample to Gain Comprehensive [email protected] https://www.futuremarketinsights.com/reports/sample/rep-gb-12871
Although it has been analyzed that the growth outlook of the market significantly varies across various regions including India, China, Brazil, and ASEAN witnessing higher growth outlook owing to significant growth in the end-use industries. In addition to that, the rising demand for sulfone polymers in the medical sector is expected to benefit the growth outlook of the market of Sulfone Polymers in the coming years.
Growth of the market is attributed to the increasing adoption of sulfone polymers within various end-use industries combined with key players continuously searching for ways to offer high-quality products that are expected to push sales in the sulfone polymers market.
Taking this into consideration, FMI has forecast global sulfone polymer sales to reach a valuation of US$ 1,888.5 Mn in 2030. During the historic period, the sales of sulfone polymers surged at 3.7% CAGR between 2015 and 2021 with numerous countries such as the U.S., China, South Korea, Germany, Russia, and Canada accounting for a substantial portion of the global market share.
Key Takeaways
- All over the world, the production of vehicles has immensely increased over the last couple of years. Rapid industrialization in several regions like the Asia Pacific is predicted to escalate automotive production, which will result in elevating the demand for poly sulfones. This is attributed to their significant properties such as light weight, strength, and elasticity. Key automotive manufacturers are emphasizing cost-effective methods for incorporating polymer composites in large volumes.
- Rising government regulations on automotive fuel efficiency are pressuring OEMs in order to manufacture lightweight vehicles, which is driving the demand for high-performance polymers like poly sulfone and polyether sulfones.
- As the automotive industry expands, combined with an increase in the production of automotive, the need for efficient sulfone polymers will urge manufacturers to bolster their production and supply of the polymers.
- In order to productively cater to the growing demand for sulfone polymers, prominent market players are expanding their production capacities along with setting up new manufacturing units in the consumer electronics and appliances sector. Dominant players are further investing in research and development to provide high-quality products which are also anticipated to bolster market growth.
- Rapid industrialization, growth in the automotive sector, and growing concerns among automotive manufacturers in order to reduce the overall vehicle weight, attributed to stringent government regulations on automotive fuel efficiency are predicted to remain key factors driving the growth of the market.
- Derivatives of sulfone polymers are working on setting new standards in the aesthetics of consumer electronics and appliances, which is predicted to contribute immensely to the sulfone polymer industry. There is an upsurge in automotive production, which is also expected to bode well for the global sulfone polymers market in the forthcoming years.
For any Queries Linked with the Report, Ask an [email protected]https://www.futuremarketinsights.com/ask-question/rep-gb-12871
Sulfone Polymers Markey by Category
By Product Type:
- Polysulfone
- Polyethersulfone
- Polyphenylsulfone
By End Use:
- Automotive & Transportation
- Healthcare
- Electrical & Electronics
- Consumer Products
- Industrial Processing
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East & Africa
Competitive Landscape
Prominent players operating in the sulfone polymers market are concentrating on advancement in technology for developing sulfone polymers with the latest technology. In addition to this, key market players are focusing on strategic mergers and acquisitions, collaborations, and innovative product launch to serve more end users in the domestic market, in order to gain a competitive edge.
More Insights into the Sulfone Polymers Market
According to FMI projections, China is anticipated to dominate the global sulfone polymers market by creating an incremental opportunity of about US$ 70.8 Mn between the period of 2022 and 2030. China is expected to remain the key producer of sulfone polymers all over the world due to rapid industrialization in the country.
The U.S. is anticipated to account for a major share of the North American sulfone polymers market. The North American region is expected to escalate by 5.3% on a year-on-year basis reaching a valuation of US$ 402.0 Mn by the end of 2022.
Click on the Below Link to Buy this [email protected] https://www.futuremarketinsights.com/checkout/12871
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Strategic Promotional Strategies
Report [email protected] https://www.futuremarketinsights.com/reports/sulfone-polymer-market
Have a Look at Related Research Reports of Chemicals & Materials Market Insights
Cellulose Derivative Market Size: Cellulose Derivative Market by Derivative Type, Derivative Grades, End Use & Region – Forecast 2022 – 2032
Coal Briquettes Market Share: Coal Briquettes Market by Appearance Type, Composition Type, Application & Region – Forecast 2022 – 2032
Boric Acid Market Demand: The global boric acid market size is anticipated to increase from US$ 840.7 million in 2022 to US$ 1,409 million by 2032
Condensing Unit Market Analysis: Condensing Unit Market by Type, Refrigerant Type, Compressor Technology, Application, End-User & Region – Forecast 2022 – 2032
Acaricide Market Trend: The global acaricide market is forecasted to be appraised at US$ 399.8 Million by 2032, up from US$ 262.4 Million in 2022, advancing at a CAGR of 4.3% during the forecast period.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Logo: https://mma.prnewswire.com/media/1197648/FMI_Logo.jpg
SOURCE Future Market Insights
