Toray Industries (Japan) and DIC Corporation (Japan) are the Key Players in the Polyphenylene Market
Polyphenylene is a class of high-temperature plastics with properties such as thermal stability, dimensional stability, and chemical & flame resistance. Polyphenylene are used in applications that demand high temperature and chemical resistance for efficient functioning. Polyphenylene have become an important part of highly dominant end-use markets, and the growth of the polyphenylene market is driven the demand for these resins form applications requiring lightweight and high-performance materials. The global polyphenylene market is projected to reach USD 4.99 Billion by 2023, at a CAGR of 8.2% between 2018 and 2023. These resins are increasingly used in various end-use industries due to their properties such as high chemical resistance and dimensional stability, among others. Moreover, these resins find application in filter fabrics. Polyphenylene can withstand a temperature of around 180°C and are preferred over other materials due to their resistance to heat and chemicals. All these are the key factors driving the polyphenylene market. However, the high cost of polyphenylene than conventional materials limits their use in high-end applications, thus inhibiting their market growth.
Key companies profiled in this report include Toray Industries (Japan), Solvay (Belgium), Tosoh Corporation (Japan), DIC Corporation (Japan), Kureha Corporation (Japan), LG Chem (South Korea), Celanese Corporation (US), Saudi Arabia Basic Industries Corporation (Saudi Arabia), China Lumena New Material (China), and Ensigner (Germany). Rapid urbanization and increasing population in developing regions have encouraged companies to adopt several business strategies to stay competitive in the global polyphenylene market between 2014 and 2017. Therefore, the companies have adopted expansions, acquisitions, and new product launches as their key growth strategies.
Toray Industries (Japan), one of the largest polyphenylene resin manufacturers in the world, has adopted expansions as its key strategy. The company is continuously expanding its polyphenylene sulfide (PPS) business globally to maintain its market position. Toray is focusing on electronics & electrical and automotive, among various other industrial applications, to expand its polyphenylene resin business. For example, in October 2017, the company decided to set up a new production facility at its Hungarian production unit for the manufacturing of resins. This move will help the company to expand its polyphenylene resin business footprint in the European region.
DIC Corporation (Japan) has considered expansions as its key strategy to staying competitive in the global polyphenylene resin market. Its state-of-the-art technology for the production of polyphenylene resins is its biggest strength. The company offers polyphenylene sulfide products and its variants under its FZ brand. In September 2017, the company announced the expansion of its production capacity of polyphenylene sulfide (PPS) resin at its Komaki Plant in Japan’s Aichi Prefecture. DIC plans to invest around USD 7.2 million towards this expansion.
Related Reports:
Polyphenylene Market by Type (PPS, PPO/PPE), Application (Engineering Plastics, Filter Bag, Composites, High Performance Lubricants), End-Use Industry (Automotive, Electronics & Electrical, Industrial, Coatings), and Region-Global Forecast to 2023
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