The sulfone polymer market is growing due to increased demand for amorphous thermoplastics with higher strength and hydrolytic stability. A recent study by Future Market Insights (FMI) states that the global market for sulfone polymers is expected to grow by 5.0% CAGR by 2030.
According to the report, demand for consumer and healthcare products will increase Segments are increasing driving Sulfone Polymers market growth during the forecast period, between 2022 and 2030. Sulfone polymer is increasingly used in the electrical and electronics industry to miniaturize electronics.
Demand for sulfone polymers from the electrical and electronics industries is expected to reach $354 million by 2030. This, in turn, is expected to drive the growth of the sulfone polymer market. FMI provides a holistic view of the Sulfone Polymers market along with detailed information on its growth drivers, restraints, and potential.
Impact Analysis of COVID-19
The major end-users of the Sulfone Polymers market, such as Automotive & Transportation, Electricity & Electronics, and others are impacted by the deadly COVID-19 19 pandemic affected. This has severely hampered the demand for sulfone polymers.
In addition, the economic impact of the virus outbreak due to the global financial crisis has impacted the manufacturing process. For example, according to India’s Ministry of Statistics, India’s growth slowed to 3.1% in Q4 FY2022.
This declining growth is the result of the slowdown in production across all industries, which is also expected to impact the market’s growth prospects.
Sulfone Polymers Markey by Category
By Product Type :
- Polysulfone
- Polyethersulfone
- Polyphenylsulfone
By End Use :
- Automotive & Transportation
- Healthcare
- Electrical & Electronics
- Consumer Products
- Industrial Processing
- Others
Who will win?
The world market for sulfone polymers is very competitive. To maintain their position, the major players in the market are starting to introduce higher-quality products for different end users.
For example, SABIC has launched its new and broad range of polymers such as SUPER™ metallocenes Linear Low-Density Polyethylene (mLLDPE), COHERE™ Metallocene Polyolefin Plastomer (POP), and others in the current year. Sino Polymer has launched its new range of eco-friendly sulfone polymers such as BISPHENOL-A EPOXY VE, BROMINATED FR VE, NOVOLACVE, and others in the last year.
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