Key Companies Covered in the ‘Global Polyphenylene Ether (PPE) Market’ Research Report by Research Nester are SABIC Group, Kingfa Science & Technology Limited, Blue Star Ltd., Sumitomo Chemical Co., Ltd., Evonik Industries AG, ROMIRA GmbH, Mitsubishi Chemical Holdings Corporation, Asahi Kasei Chemicals Corporation, Toyochem Co., Ltd., and Lonza Group AG among others.
New York, Aug. 12, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on ‘Global Polyphenylene Ether (PPE) Market’ for the forecast period, 2022 – 2031 which includes the following inputs about:
Market growth over the forecast period
Key market players and their detailed profiling
Global Polyphenylene Ether (PPE) Market Size:
The global polyphenylene ether (PPE) market is all geared up to showcase a CAGR of ~7% during the projected forecast timeline, 2022-2031. Growth expansion is attributed to growing applications of polyphenylene ether (PPE) in making several end-user products comprising medical equipment and electronic lubricants among others. Owing to an elaborate feature profile such as heat resistance and chemical inertness, polyphenylene ether (PPE) has gained tremendous end-user attention, more specifically in medical equipment such as surgical needles, blades, and syringes.
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Amidst the emergence of Covid-19 pandemic and ongoing burden on healthcare facilities, PPE-based medical devices and protection gears are gaining substantial traction. A recent survey concluded that over 35% of healthcare workforce exhibited reliance on PPE-based protective gear. Also, a WHO report states that in the absence of adequate PPE kits the risk of Covid-19 increases. As per the report from December 2021, only 7.5% of people across low-income countries have received the first dose of the vaccine. This puts health-workers at a higher risk of Covid-19 infection.
Global Polyphenylene Ether (PPE) Market: Key Takeaways
Fluid handling application segment to tread promising growth outlook
PPO resin type segment to find extensive application in EV batteries
North America followed by Asia Pacific to Demonstrate Revenue Dominance
Polyphenylene ether (PPE) is a widely used plastic that is supported by its low moisture absorption, dimensional stability, and electrical properties. Also, the availability of new-age PPE with other additives further improve the properties, making it more flame resistant. This explains the wide scale adoption of PPE in the aerospace industry. Polyphenylene ether (PPE) in combination with other materials such as polystyrene to form alloys with improved functional properties. In recent years, polyphenylene ether and polystyrene alloys are used in the aerospace, electronics, telecom, and automotive industries, besides others.
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Healthcare and medical device industries rely extensively on PPE materials, more specifically in portable device sector. In this light, emergence of Modified Polyphenylene Ether (MPPE) is further boosting PPE attraction owing to high flexibility. This has pioneered portable medical device adoption across emerging and developed economies alike. Healthcare centers and hospitals in the US are working towards popularizing low-noise medical devices for improved care environment. Additionally, increasing geriatric population is encouraging home care settings with improved adoption of portable medical devices. These factors are influencing reliance on PPE and paving new growth windows for the global polyphenylene ether (PPE) market. Global population in the age group of 60 and higher which comprises geriatric population is expected to reach 2.1 billion by 2050, from 1.4 billion in 2030.
Global Polyphenylene Ether (PPE) Market: Regional Snapshot
The global ear and nasal packing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Asia Pacific Region to Slay the Revenue Chart amidst Buoyant Chemical Industry
Besides easy access to voluminous raw materials and availability of low-budget workforce, the region of Asia Pacific boasts of a thriving chemical industry owing to spontaneous developments across countries comprising India and China. As per the latest statistics by the National Investment Promotion & Facilitation Agency, India ranks 6th in terms of chemicals sales worldwide and accounts for 3% of the total revenues in the global chemical industry. The chemicals and petrochemicals industry in India is worth around USD 178 billion. As per recent statistical data, the BRICS countries comprising Brazil, Russia, India, China and South Africa collectively made up to around 51% of global chemical sales in 2020. In the same year, China's chemical sales crossed over USD 1,863.48.
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North America to Sustain the Lion’s Share of Revenues through the Forecast Era
North America region is expected to lead the profits and growth during the entire projected forecast period, supported by the chemical industry boom and substantial presence of leading automotive makers. The sales of truck SUVs in the US recorded 39% high in the US, while car SUVs claimed 13% of the total sales owing to superlative fuel economy, as revealed by the US Environmental Protection Agency (EPA). Recent research data suggests, the US chemical industry accounted for over USD 5 trillion which is approximately equivalent to a quarter of its total GDP. Roughly four (4) million of the US populace finds employment in the chemical sector. As per the latest data, the US chemical industry is growing promisingly with its overall production of chemicals standing at roughly 5% in 2022 from around 2% in 2021.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
• North America (U.S., Canada)
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
• Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Polyphenylene Ether (PPE) Market, Segmentation by Application
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The fluid handling segment out of all others is expected to stand out in the global polyphenylene ether (PPE) market during the forecast years. This can be attributed to heavy adoption of PPE in fluid handling practices to manufacture heat and radiation non-reactive lubricants used in jet engines. Fluid handling process executes proper direction, measurement, and maintenance of the flow of liquids in a given environment of a manufacturing facility.
In the post-pandemic era the private or commercial jet industry experienced reasonable uptick as high income group citizens globally, preferred private jet travels to avoid social contact and risk of Covid-19. In 2020, the commercial jet market garnered approximately USD 25 billion globally and is further expected to reach nearly USD 40 billion by 2028. These developments are expected to strengthen adoption of PPE in liquid handling activities for jet engine lubricants. Besides the commercial jets, fighter jet planes are also undergoing technological face-lift to rave up defense across nations. In this light, America's GE has agreed to offer developmental support for manufacturing the jet engine for India's Advanced Medium Combat Aircraft (AMCA).
Global Polyphenylene Ether (PPE) Market, Segmentation by Type
PPO resin, modified polyphenylene oxide (MPPO) and others comprise major segments of the global polyphenylene ether (PPE) market based on type. Among these the PPO resin type is expected to dominate revenue generation owing to mechanical properties, insulation properties, and dimensional stability, allowing greater adoption in automotive manufacturing. Need for improved materials in automotive engineering is favoring PPO resin adoption, followed by segment expansion. Polyphenylene oxide (PPO) resin manufacturers are also investing in portfolio diversification and R&D investments. In June 2022 industry player SABIC came up with new PPO resin under the brand, NORYL to suit high voltage batteries with improved thermoforming performance. The latest PPO resin offering is expected to improve the EV battery life and reduce the charging time, besides achieving higher efficiency and low vehicular weight. Advances in EV batteries is expected to fortify PPO resin market further. By 2026 the EV battery market is expected to topple over USD 96 billion.
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This report on global polyphenylene ether (PPE) market highlights some of the leading players, making headways in the industry. These include SABIC Group, Kingfa Science & Technology Limited, Blue Star Ltd., Sumitomo Chemical Co., Ltd., Evonik Industries AG, ROMIRA GmbH, Mitsubishi Chemical Holdings Corporation, Asahi Kasei Chemicals Corporation, Toyochem Co., Ltd., and Lonza Group AG among others.
Recent Developments in the Global Polyphenylene Ether (PPE) Market
In April 2022, Asahi Kasei Europe has announced its investment towards new laboratory to propel its R&D expeditions in Germany, aligning with its business expansion plans for modified polyphenylene ether (mPPE) foam brand, SunForce in the region.
China National Bluestar (Group) Co, Ltd, a subsidiary of Sinochem Holdings is a key producer of polymer additives and chemical intermediaries, polyphenylene oxide (PPE) besides other monomers. The company has recetly received 'A' rating for Long-Term Foreign-Currency Issuer Default Rating (IDR).
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