The global sulfone polymers market features a
markedly high level of consolidation, with the top two vendors,
namely Solvay S.A. and BASF SE, accounted for nearly 80% of the
overall market in 2015, observes a recent report by Transparency
Market Research. It has also been observed that the demand for
sulfone polymers is largely surpassing the supply on a global level.
Thus, developing a strong supply chain and expansion of production
units could be an excellent strategy for companies wishing to make a
mark in this bullish marketplace.
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Leading vendors are actively looking for enhancing
their distribution channels through agreements with established
distributors. The distribution agreement signed by Solvay Specialty
Polymers with Biesterfeld Plastic GmbH in 2015 for the distribution
of Solvay’s sulfone polymer grades in Scandanavia and Finland is a
fine account of Solvay’s attempt to exploit this opportunity.
Transparency Market Research estimates that the
global sulfone polymer market was valued at US$805.4 mn in 2015 and
is projected to reach US$1,394.7 mn by 2024, expanding at a CAGR of
6.4% from 2016 to 2024. In terms of product types/grades of sulfone
polymers, the PSU segment generated US$331.0 mn of sales, accounting
for 41.1% of the market in 2015. The segment’s share is expected to
decrease by 0.4% share by 2024. Geographically, the market in North
America leads, accounting for a share of more than 39% in the overall
market in 2015.
Demand across Medical Industry Continues to be Key
Driving Force
The global market for sulfone polymers gains a
significant share in its overall revenue from business across the
medical industry. Being more wear- and corrosion-resistant as
compared to their metal counterparts, a variety of biocompatible
grades of sulfone polymers have started replacing metals in the
manufacture of medical devices and implants. Thanks to the rapidly
expanding base of geriatric population across a number of countries,
the global demand for medical implants has significantly increased in
the past few years. Over the forecast period, the vast rise in demand
for sulfone polymers from the medical field is expected to be one of
the most prominent drivers of the global sulfone polymers market.
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Regulatory and Cost Constraints Could Impede
Growth
The use of sulfone polymers across a number of
applications requires the fulfilling of a large number of regulatory
terms. This is especially a huge concern when the use of sulfone
polymers in the fields of medical implants, medical devices, and
aircrafts is considered. The delay in obtaining the required
approvals could lead to delay in introducing new products in these
industries.
The usage of sulfone polymers could also be limited
by health regulatory bodies in food contact applications such as baby
bottles, owing to the concerns regarding the leakage of bisphenol
monomers into food products. Research studies have shown that these
bisphenols can have endocrine system disrupting properties. As a
result, the use of sulfone polymers in the food industry could
witness a decline over the forecast period, hindering the overall
growth prospects of the global market.
Moreover, the market’s growth is also constrained
to a certain extent owing to the high costs involved in setting up
new production facilities of sulfone polymers. This aspect has
deterred many polymer companies from foraying into the market,
resulting in a consolidated marketplace. The high cost of end
products is compelling end-use industries to explore less expensive
alternatives such as reinforced polypropylene, limiting the demand
for sulfone polymers in the global market.
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This review of the market is based on a recent market
research report published by Transparency Market Research, titled
“Sulfone Polymers Market - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2016 - 2024.”
For the study, the global sulfone polymers market
has been segmented as follows:
Sulfone Polymers Market: Product Type Analysis
- PSU
- PESU
- PPSU
Sulfone Polymers Market: Application Analysis
- Medical
- Automotive
- Aerospace
- Consumer Goods
- Electrical & Electronics
- Industrial
- Others (membrane, military, plumbing, etc)
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