With the enormous opportunities offered by the automotive industry, polyarylsulfone market is experiencing exuded profitability and more so when the augmenting number of vehicles produced is increasing the polyarylsulfone market size. On the other hand, the hydrolysis stability make polyarylsulfone a useful material in medical applications that involve autoclave and steam sterilization. The application of this high-performance thermoplastics in the healthcare industry is further creating a demand influx in the polyarylsulfone market, and therefore, the companies are striving to expand their geographic territories in order to gain maximum polyarylsulfone market share across the globe. For instance, in October 2017, Solvay S.A. expanded its production capacity of sulfone polymers that included polyarylsulfone. BASF SE also identified the increasing polyarylsulfone market demand and started a polysulfone production line in Korea in April 2018.
The material is also emerging out to be a better alternative to polypropylene and polyamide because of which it is getting traction from the aforementioned end-user industries. Polyarylsulfones are also sometimes blended with polyvinyl chloride for the removal of heavy metals such as Cadmium, Chromium, and Lead. Another application of polyarylsulfone gaining prominence is the gas separation as the polysulfone membranes containing magnesium oxide impart better performance during separation.
The increasing applications are enhancing the polyarylsulfone market demand across industries. As of 2018, the polyarylsulfone market size was gauged at $1.8 billion, and it is projected to increase at a CAGR of 8.1% during the forecast period 2019-2025.
Healthcare Industry – A
Profitable Polyarylsulfone Marketplace in the Upcoming Years:
The application of polyarylsulfone in the healthcare industry is estimated to escalate at a CAGR of 6.24% through to 2025. While the growth is attributable to the merit of the material for the applications that require high-strength polymers, the demand is also because of the growth of the healthcare industry worldwide, especially in developing countries. Polyarylsulfones are used in steam sterilization of reusable medical devices as they are resistant to the degradation from water. For instance, endoscopes are reusable and polyarylsulfone is utilized for their steam sterilization for reuse. Now, with the booming endoscopy devices market that attained a valuation of $11.4 billion in 2018 and it going to expand at a CAGR of 6.43% through to 2025, the polyarylsulfone market size is poised to increase in the aforementioned application segment.
Owing to the profitable prospects in the North American healthcare industry, especially in the US, the region had the maximum polyarylsulfone market share of 31% in 2018. The greater North America polyarylsulfone market share also resonates with the fact that the region had the maximum endoscopy devices market share of 54% in the global revenues. The upcoming years foresee rapid development of the US healthcare industry, which will impact the reusable medical devices market. Subsequently, the players will be targeting the US healthcare industry in order to gain more polyarylsulfone market share over the forecast period.
Polysulfone Market Companies –
The companies with the highest polyarylsulfone market share striving to thrive on the increasing demand from the healthcare, automotive, and other end-user industries are BASF SE, Solvay S.A., Sumitomo Chemical Co., Ltd., SABIC, Quadrant Engineering Plastics Product, NYTEF Plastics Ltd., Polymer Dynamix, RTP Company, Westlake Plastics Company, and The Ensinger Group.
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