Polyphenylene Sulfide Market Size

Global Polyphenylene Sulfide Market size was valued at USD 1.5 billion in 2023 and is poised to grow from USD 1.63 billion in 2024 to USD 3.15 billion by 2032, growing at a CAGR of 8.6% during the forecast period (2025-2032).

Polyphenylene sulfide manufacturers are investing heavily in research and development to create new polyphenylene sulfide products that have advanced capabilities and better properties than existing polyphenylene sulfide products. The rising popularity of flexible circuits is also estimated to play in the hands of polyphenylene sulfide companies as PPS would be a crucial component in making flexible electronics. High demand for sustainable polymers is also slated to push polyphenylene sulfide producers to make more eco-friendly polyphenylene sulfide products in the future. 'Lion Idemitsu Composites Co. Ltd. (Japan) ', 'Solvay S.A. (Belgium) ', 'TEIJIN Limited (Japan) ', 'Polyplastics Co. Ltd. (Japan) ', 'LG Chem (South Korea) ', 'Tosoh Corporation (Japan) ', 'Ensinger (Germany) ', 'DIC Corporation (Japan) ', 'Zhejiang NHU Co., Ltd. (China) ', 'Toray Industries (Japan) ', 'RTP Company (United States) ', 'Chengdu Letian Plastics Co., Ltd. (China)'

Lightweight vehicles produce fewer emissions and are compliant with modern emission regulations, which is why automotive companies are continually focusing on adopting new lightweight materials to produce automotive components and polyphenylene sulfide is one of them.

High Demand for Modified PPS: Companies can focus on enhancing the qualities and properties of polyphenylene sulfide to improve its application scope. Impact and elastomer-modified polyphenylene sulfide materials are the perfect examples of how manufacturers can innovate and expand their business potential in the long run.

Increasing urbanization in the Asia Pacific region is projected to help this regional market account for a sizeable share of the global polyphenylene sulfide demand. The presence of robust electronics and automotive manufacturing activity in this region is also boosting polyphenylene sulfide market growth in this region. China is slated to be the top market for polyphenylene sulfide suppliers with Japan, India, and South Korea being other investment-worthy markets in the Asia Pacific region.