The Sulfone Polymers Market size is estimated to reach US$2.4 billion by 2027, after growing at a CAGR of 4.8% during the forecast period 2022-2027. The growth
of the Sulfone Polymers market will be highly influenced by surging demand from
automotive, medical & healthcare, aerospace and others. Sulfone Polymers are
with excellent dimensional abilities and high heat deflective features. Various
types such as polysulfone,
and others are increasingly utilized in the medical & healthcare industry
for a wide range of applications in orthopedic devices and others, thereby driving
the sulfone polymers market. The
growing medical sector, along with a flourished base for automotive, aerospace and
other sectors is fueling the growth scope for the sulfone polymers industry.
Sulfone Polymers Market: Leading Segment is the Medical & Healthcare Industry
Based on the end-use industry, the Sulfone Polymers market can be segmented into medical & healthcare, automotive, electrical & electronics, aerospace, food & beverage, consumer goods and others. The leading segment in the sulfone polymers industry has been evaluated to be the medical & healthcare industry. During the forecast period 2022-2027, the medical & healthcare industry is projected to grow with a CAGR of 5.1%. This can be attributed to growth factors such as increasing spending on drugs, flourished medical infrastructure and rising income.
For instance, according to International Trade Administration (ITA), the medical devices sector in the United States is expected to rise to US$208 billion by the year 2023. Thus, the sulfone polymers industry will grow significantly as a result of emerging applications of sulfone polymers or transparent plastics in the medical sector for orthopedic devices, sterilizing boxes, secretion bottles and others over the forecast period.
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Sulfone Polymers Market: Leading Region is the Asia-Pacific
Based on geography, the Sulfone Polymers market can be segmented into North America, South America, Europe, APAC and ROW. According to IndustryARC's analysis, Asia-Pacific has emerged as the most profitable region. In 2021, the Asia-Pacific held a 41.2% share of the total revenues earned by the market globally. The APAC region is estimated to grow rapidly due to the established healthcare base, upsurge in transportation and urbanization trends. The medical & healthcare sector is lucratively growing in APAC due to increasing surging healthcare infrastructure, increase in drug spending, development in healthcare technologies and industrialization. For instance, according to the India Brand Equity Foundation (IBEF), the pharmaceuticals sector in India is expected to reach US$65 billion by 2024 and further grows to reach US$120 - US$130 billion by the year 2030. With robust growth scope for sulfone polymers in the medical & healthcare industry for medical instruments, sterilizing devices, reusable devices and others across APAC countries, the sulfone polymers industry will emerge significantly in over the forecast period. The Sulfone Polymers market will also gain demand from the North American region. The U.S, Canada and other regions are emerging countries in the Sulfone Polymers industry.
Sulfone Polymers Market: Competitive Landscape
Key companies holding major shares in the Sulfone Polymers market are Solvay SA, SBIC, RTP Company, Sino Polymer, Sumitomo Chemical Co., Ltd, Mitsubishi Chemicals Holdings Corporation, Shandong Horan, Youju New Materials Co., Ltd., PolyOne Corporation and Ovation Polymers Inc.
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