I.Overview of PPS
Polyphenylene sulfide (PPS) is the most significant resin type in the polyarylsulfide category. It belongs to the family of thermoplastic resins. PPS resin appears white or nearly white and is a hard, brittle partially crystalline polymer. Its crystallinity can reach up to 70%, with a melting point between 280°C and 290°C. The molecular backbone of PPS consists of alternating aromatic rings and sulfur atoms.
There are various methods for synthesizing PPS, but the sodium sulfide method is the most commonly used. In this method, p-dichlorobenzene and sodium sulfide are used as raw materials. They are mixed with suitable additives in a polar solvent, such as HPT or NMP, under high pressure and temperature. This synthesis method offers a short process route, and both p-dichlorobenzene and sodium sulfide are readily available. The resulting resin is of stable quality and has a high yield.
II. PPS Industry Chain
The upstream of the PPS industry consists of p-dichlorobenzene and sodium sulfide. The downstream involves the modification of PPS resin for a wide range of applications. Different grades of PPS resin can be processed in various ways to produce engineering plastics, fibers, films, and coatings. These products find applications across different sectors.
III. Current Status of the PPS Industry
1. Global Market Size
The global polyphenylene sulfide (PPS) market continues to show strong growth. According to QY Research, the market size reached $1.354 billion in 2018. However, due to the pandemic, global demand for PPS declined in 2020, resulting in a market size of $861 million. In 2021, the market rebounded to $1.020 billion.
Global PPS industry market size and growth rate from 2018 to 2021
2. Status of the Chinese Market
In China, the PPS market is steadily growing, with increasing domestic production capacity. In recent years, China has expanded its PPS production capabilities. Domestic companies actively adopt and integrate advanced foreign technologies. This shift has reduced reliance on imports. However, challenges remain, such as limited innovation, fewer product varieties, and a lack of high-end products.
In 2020, China’s PPS production reached 58,800 tons, with an annual growth rate of 43% from 2015 to 2020. As a result, the dependency on imported PPS has gradually decreased. During the same period, the average annual growth rate for domestic PPS demand was 26%, with demand reaching 63,500 tons in 2020.
China’s PPS industry output and demand from 2015 to 2020
Examining downstream applications, the most extensive uses for PPS are in environmental protection, automotive, and electrical and electronic sectors. In 2020, these three applications accounted for market shares of 35%, 20%, and 16%, respectively, totaling 76%.
Proportion of downstream application fields in China’s PPS industry in 2020
Ⅳ.Competitive Landscape of the PPS Industry
1. Market Concentration
The global market for polyphenylene sulfide (PPS) shows a high level of concentration. Key players dominate the industry based on capacity. Current leading companies include DIC (20.06%), Toray Group (13.34%), Solvay (8.72%), Fortron (7.41%), Wu Yu Chemical (6.85%), Xinhongcheng (6.54%), and INITZ (5.23%).
2021年全球PPS行业市场竞争格局（按产能）
2.Key Companies Overview
The majority of global PPS production capacity is concentrated in Japan, China, and the United States. Japan remains the largest producer, accounting for over 45% of global capacity. In recent years, China has rapidly developed its PPS industry and is now the second-largest producer in the world. Currently, about 85% of the new PPS production capacity under construction is located in China. Globally, there are 74,500 tons of PPS capacity being built, with China contributing 63,000 tons.
DIC Corporation (DIC) is a key producer of polyphenylene sulfide (PPS) materials. Here are some details about DIC’s PPS business:
DIC offers a variety of PPS materials, including its trademarked high-performance plastic, “Xyron.” This product has widespread applications in electronics, electrical equipment, automotive, and medical fields.
The company has strong research and development capabilities in PPS. DIC focuses on creating higher-performance and more competitive materials to meet diverse customer needs.
DIC operates multiple production lines in Japan and other regions, with an annual capacity of 4.6 tons. This capacity allows the company to effectively respond to market demands.
DIC targets high-value markets, leveraging its technological advantages to establish a presence in automotive, electronics, and industrial sectors.
Furthermore, DIC is committed to sustainable development. The company uses eco-friendly materials and production processes to minimize its environmental impact.
Toray Industries is a global leader in chemical and material technology, with significant achievements in the research and production of polyphenylene sulfide (PPS) materials. The company continuously invests substantial resources to enhance the performance and application range of PPS. They have developed PPS resins that can operate stably in environments up to 200°C, making them suitable for extreme conditions.
Toray focuses on modifying PPS through the introduction of various fillers and additives. This approach improves the material’s toughness, electrical conductivity, and flame resistance, catering to the diverse needs of different industries. The company boasts advanced production facilities and a strict quality control system, ensuring consistency and high quality in its PPS materials. Their production processes have undergone multiple optimizations to balance efficiency in large-scale production with customization capabilities.
Toray’s TORELINA™ PPS resin features excellent heat resistance, dimensional stability, and chemical resistance. As a thermoplastic super engineering plastic, it is suitable for various applications. For instance, these materials are ideal for water circulation applications, such as valves and fittings in water heaters, faucets in sanitary areas, and residential plumbing connections. They have received water application approvals and certifications in various countries.
Additionally, Toray has developed various materials for communication devices and sensor components, offering exceptional dimensional accuracy. Communication devices and sensor components required for technologies like 5G and autonomous driving need resin materials with low warpage. To address this challenge, Toray has created low-warpage PBT and PPS resins, overcoming the challenges associated with crystalline engineering plastics.
Notably, Toray has developed the world’s only biaxially stretched PPS film—Torelina® PPS film. This film is widely used in various industrial fields due to its outstanding heat resistance, flame retardancy, chemical resistance, and electrical properties. Furthermore, it has a longer usable life at high temperatures compared to PET film.
Solvay, a global leader in specialty polymers, has launched Ryton® R-4-300 polyphenylene sulfide (PPS) and the new Amodel® A-89XX series of polyphthalamide (PPA) polymers. This expansion significantly enhances their thermal management solutions product portfolio.
Zhejiang NHU Co., Ltd. was established in 1999 and went public in 2004 (stock code 002001). Since its inception, the company has focused on innovation-driven development. It aims to grow through market competition. NHU specializes in research, production, sales, and services for functional chemicals, including nutritional products, fragrances, and high-performance polymers.
The company provides comprehensive solutions in various fields, including health, daily care, transportation, environmental protection, and energy. It serves customers in over 100 countries and regions. NHU is committed to improving the quality of human life with high-quality, healthy, green, and low-carbon products. This approach creates sustainable value for stakeholders.
Currently, NHU ranks second in China’s top 100 fine chemical companies for 2024. The company is on track to achieve its vision of becoming a global leader in functional chemicals.
Ⅴ.Future Development Trends in the PPS Industry
At present, the largest downstream applications for PPS are in the environmental protection and automotive sectors. The high melting point and flame-retardant properties of PPS also make it suitable for use in electronics, aerospace, and other fields. In the future, PPS is expected to become a preferred material in the electronics sector. Additionally, the renewable energy and environmental protection sectors may drive new demand for PPS.
Over the past decade, the demand for PPS fibers in the coal-fired power and boiler industries in developed regions, such as Europe, the United States, and Japan, has maintained an annual growth rate of about 25%. Furthermore, developing countries like India and Brazil are increasingly adopting bag filter technology, which boosts global demand for PPS fibers.
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