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Polyarylsulfone Market - Market Leader
The polyarylsulfone market is very competitive due to its wide applications. New entrants find difficulty to enter into the market due to high investment requirements in R&D for the innovation of the product. North America is witnessed as the biggest market of polyarylsulfone and Asia-Pacific is considered as the fastest growing markets. Various market players are focusing on their innovation and product developments to meet the environmental constraints and curb down the cost of production of polyarylsulfone to have an edge in the market.
Major manufacturers of polyarylsulfone are identified as BASF SE (Germany), Solvay Chemicals Company (Belgium), SABIC (Saudi Arabia) and Sumitomo Corporation (Japan) with a collective market share of more than 80% in the year 2014. Solvay Chemicals Company leads the polyarylsulfone market with a market share of more than 50% in 2014. Solvay engages in the research & development and production of polyarylsulfone for customers mainly North America and produces all the three type of polyarylsulfone. Solvay S.A. aims to be recognized globally through its sustainable development. The company aims to penetrate into new market through its joint ventures. The company conducts its capacity expansion program at its various sites to meet the pace of the growing market. The company’s investment in R&D indicates its target of mastering and growing in product innovation. Company with time has improved its product profile by developing products to meet the growing demand in end use industries.
Subsequently, BASF SE was the second biggest producer of polyarylsulfone with a share of more than 15% in 2014. As a part of its business strategy, BASF concentrates on the concept of total integration in order to optimize its value chains. This idea has uniquely aligned its businesses internally along with customers and suppliers. The company focuses on its R&D activities for the development of innovative products and has undertaken plans for investment in R&D so as to sustain its leading position in the market.
BASF SE opened its Ultrason plant in South Korea, to serve the growing demand of high performance specialty plastics in Asia-Pacific. Biesterfeld Plastic GmbH and Solvay Specialty Polymers Italy S.p.A. agreed on a distribution agreement for the distribution of Udel PSU, Polysulfones Radel PPSU and Veradel PESU in Finland and Scandinavia by Biesterfeld Nordic AB located in Malmö, Sweden.
Polyarylsulfone Market by Types (PSU, PESU, PPSU), by End-User Industry (Medical, Automotive, Household/Food Technology, Electrical & Electronics, Mechanical Engineering and Others) and by Region - Global Trends & Forecasts to 2020
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