Sellbyville, DE -- (SBWIRE) -- 10/25/2018 -- The global sulfone polymers market is majorly restrained by the regulatory norms regarding the consumption of sulfone polymers in some particular industry verticlas. For instance, the usage of sulfone polymer based products in medical & food industries require many stages of government approval because of the presence of harmful chemical substances like bisphenol A. Hence to maintain the standard quality of food, regulatory bodies have implemented certain restrictions which will negatively impact the global sulfone polymers market over the next years.

Implementing new technologies and equipment inevitably require high maintenance cost which will challenging the product manufacturers from investing in sulfone polymers market. Further, substantial R&D costs involved in the development of advanced technologies will further decelerate this market soon.

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Global Sulfone Polymers Market size will likely surpass USD 2 billion by 2024; according to a new research report by Global Market Insights, Inc. Sulfone polymers' demand is rapidly increasing in aerospace and automotive industries owing to their high-performance properties. These polymers offer higher stability and toughness while operating at higher temperatures. High strength, better flame resistance, thermal stability, and excellent retardancy to oxidation properties make them suitable for aerospace, and automotive applications. Thus, the market will be influenced positively and will further enhance the market growth over the coming years.

Changing trends like substitution of metal products with lightweight polymer materials in automotive, and aerospace applications will drive the global sulfone polymers market significantly. The product demand for sulfone polymer based aircraft, and automotive components is emphasizing the producers to manufacture more products significantly which will significantly propel the growth of global sulfone polymers market in the entire forecast timeline.

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Asia Pacific had the maximum market share for 2016, which is going to increase over the forecast spell. Growing investments and developing industries in the region will propel market growth in developing countries including Japan, China, and India.

In addition, the Middle East and Africa will witness moderate growth due to the rising demand from various industries over the forecast period. Europe and Latin America held the highest potential in terms of revenue with CAGRs of 5.9% and 5.8% respectively by 2024.

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The market is dominated by prominent players such as Sumitomo Corporation, Specialty Polymers, Evonik Industries, Infinity LTL, Ovation Polymers, SABIC, and Jiangmen Youju. These companies hold a potential market share and have diverse products.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.