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Polysulfone Market Trends
The global polysulfone industry generated $2.1 billion and is projected to reach $3.4 billion by 2031, with a CAGR of 5.1% from 2022 to 2031.
WILMINGTON, DELAWARE, UNITED STATES, April 18, 2024 /EINPresswire.com/ -- Allied Market Research recently published an insightful report titled "Polysulfone Market by Type, Grade, Application, End-Use Industry, and Region: Global Opportunity Analysis and Industry Forecast, 2021-2031."
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Market Overview:
In 2021, the global polysulfone industry generated $2.1 billion and is projected to reach $3.4 billion by 2031, with a CAGR of 5.1% from 2022 to 2031.
The market is primarily driven by the high strength, moldability, and thermal stability properties of engineering polymers. However, challenges such as susceptibility to discoloration and brittleness under UV radiation and moisture degradation may hinder growth.
Growth Drivers:
Key growth drivers include increased demand from healthcare and automotive sectors, the pursuit of environmentally friendly polymers, technological advancements, emerging applications in aerospace and electrical industries, and rising demand from developing economies.
Covid-19 Impact:
The pandemic accelerated the demand for medical equipment and packaging materials, both of which utilize polysulfone due to its excellent properties. Additionally, research and development efforts were intensified to develop innovative medical devices, further boosting demand for polysulfone.
Segment Analysis:
- The polysulfone segment dominated the market in 2021 and is expected to maintain its leadership position throughout the forecast period, driven by demand across various industries.
- Among grades, the industrial grade segment held the highest market share in 2021, with the medical grade segment expected to witness the fastest growth.
- Injection molding accounted for the largest share in applications in 2021, while the membrane segment is projected to witness the fastest growth.
The transportation and automotive segment led in end-user industries in 2021, with the electrical and electronics segment expected to grow rapidly.
Regional Insights:
- North America held the highest market share in 2021 and is likely to maintain its dominance, driven by industrialization and urbanization in countries like the U.S. and Canada.
- The Asia-Pacific region is expected to exhibit the fastest growth, fueled by increasing demand from electronics, medicine, and transportation sectors.
Leading Players:
Key players in the global polysulfone market include SOLVAY S.A., BASF SE, SABIC, ENSINGER, and others, who employ strategies such as new product launches and collaborations to maintain their market dominance.
The report offers comprehensive insights into the global polysulfone market, aiding stakeholders in understanding current trends and future opportunities.
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/polysulfone-market/purchase-options
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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