Polysulfone Market Growth
The demand surge is attributed to the advantageous properties of engineering polymers such as high strength, moldability, and thermal stability
WILMINGTON, DELAWARE, UNITED STATES, February 12, 2024 /EINPresswire.com/ -- The "Polysulfone Market" report by Allied Market Research reveals significant insights into the global polysulfone industry. In 2021, the market generated $2.1 billion and is poised to reach $3.4 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 5.1% from 2022 to 2031.
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Key Growth Drivers:
- The demand surge is attributed to the advantageous properties of engineering polymers such as high strength, moldability, and thermal stability.
- Growth opportunities are foreseen in the healthcare and automotive sectors, driven by rising demand for environmentally friendly polymers, technological advancements, and emerging applications in aerospace and electrical industries.
Challenges:
Polysulfone's susceptibility to discoloration and brittleness under UV radiation and moisture degradation limit its outdoor applications, potentially leading consumers to explore alternatives.
COVID-19 Impact:
- The pandemic increased demand for medical equipment like ventilators and PPE, driving up the need for polysulfone due to its excellent properties.
- The shift towards online shopping bolstered demand for packaging materials made from polysulfone.
- Research and development activities accelerated to develop innovative medical devices, further boosting the demand for polysulfone.
Market Segmentation Highlights:
- Type: Polysulfone segment dominated the market in 2021, while the polyethersulfone segment is expected to witness the fastest CAGR.
- Grade: Industrial grade segment led the market in 2021, with medical grade expected to grow fastest.
- Application: Injection molding segment held the largest share, while the membrane segment is projected to witness the fastest growth.
- End-User Industry: Transportation and automotive segment led in 2021, with electrical and electronics expected to grow fastest.
- Region: North America held the highest market share in 2021, while the Asia-Pacific region is anticipated to exhibit the fastest CAGR.
Key Players:
The report profiles key market players such as SOLVAY S.A., BASF SE, SABIC, ENSINGER, POLYMER INDUSTRIES, RTP COMPANY, TRIDENT PLASTICS INC., ASAHI KASEI MEDICAL CO., LTD., TORAY MEDICAL CO., LTD., and PEXCO, highlighting their strategies to maintain dominance through initiatives like new product launches, collaborations, and expansions.
This comprehensive analysis provides valuable insights for stakeholders aiming to understand the dynamics and opportunities within the polysulfone market.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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