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IN THE NEWSApril, 2022: Asahi Kasei Chemicals Corporation to acquire Bionova Scientific, LLC, to add a biopharmaceutical CDMO in the business process.
August, 2021: Arkema announced the acquisition of Ashland Performance Adhesives, a leader in high performance adhesives for industrial applications, to boost its portfolio in the United States adhesive and sealant market.
The global polyphenylene ether (PPE) market is estimated to grow at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing applications of PPE for making electronic connector lubricants, medical equipment, and other products. Polyphenylene ether (PPE) is a thermoplastic polymer used extensively for its high resistance to heat, chemicals, and solvents. Moreover, post the coronavirus pandemic, PPE is in high demand for making protective PPE kits, as it is able to trap media for volatile and semi-volatile compounds. Furthermore, equipment, such as, syringes, needles, and surgical blades are made of PPE as it is resistant to chemicals. According to the data by the World Health Organization (WHO), an estimated 89 million medical masks, 76 million gloves, and 1.6 million goggles are required for the COVID-19 response each month. Such factors are anticipated to boost the market growth.
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The market is segmented by application into air separation membranes, medical instruments, automotive parts, electronic components, fluid handling, and others. Out of these, the fluid handling segment is anticipated to hold a substantial share in the global polyphenylene ether (PPE) market over the forecast period on account of increasing use of PPE to make high-temperature and radiation-resistant lubricants for use in jet engines.
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
On the basis of geographical analysis, the global polyphenylene ether (PPE) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of easy availability of raw material and cheap labor in the region. Moreover, the growing chemical industry in the APAC region is estimated to boost the market growth.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing presence of major automotive manufacturers in the developed countries, along with growth in the chemical sector. According to the data by Organization Internationale des Constructeurs d'Automobiles (OICA), 3,033,216 cars and 8,156,769 commercial vehicles were manufactured in the U.S. in 2017. Moreover, the growing healthcare industry in the region, is estimated to boost the regional market growth.
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The global polyphenylene ether (PPE) market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global polyphenylene ether (PPE) market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing demand for PPE in the automobile, and healthcare industries to boost the market growth.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2031.
High adoption of biodegradable material, and high investment required are estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period owing to the presence of automotive and healthcare industry in the region.
The major players in the market are Kingfa Science & Technology Limited, Blue Star Ltd., Sumitomo Chemical Co., Ltd., Evonik Industries AG, ROMIRA GmbH, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, and by region.
The MPPO segment is anticipated to hold largest market size in value over the forecast period and display significant growth opportunities.
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