Core Viewpoint - PPS resin, recognized as a high-performance specialty engineering plastic, is experiencing significant growth in production capacity and demand due to its superior properties and increasing applications in various industries [1][2][10]. Group 1: Industry Overview - PPS resin is a crystalline thermoplastic with a high melting point of 290°C and excellent thermal, chemical resistance, dimensional stability, flame retardancy, electrical properties, and mechanical performance [2]. - It is considered the sixth major specialty engineering plastic and one of the eight aerospace materials [1][2]. Group 2: Supply Situation - Global PPS resin production capacity is projected to reach 210,000 tons per year by 2024, an increase of 34,000 tons from 2020 [6][7]. - In China, the nominal capacity for PPS resin is expected to be 92,000 tons per year in 2024, with an effective capacity of 68,000 tons and a production volume of 50,000 tons, resulting in an effective operating rate of 73% [8][10]. Group 3: Market Demand - Global consumption of PPS resin is anticipated to grow from 99,000 tons in 2020 to 129,000 tons in 2024, with a compound annual growth rate (CAGR) of approximately 6.8% [10][11]. - China is projected to account for 43.4% of global PPS resin consumption by 2024, with significant demand driven by the automotive, environmental, and electronics sectors [12][14]. Group 4: Application Structure - The automotive industry is expected to be the largest consumer of PPS resin in China, accounting for about 32% of total consumption, followed closely by environmental filter bags and other textile applications at approximately 30% [16]. - PPS resin is increasingly used in high-end manufacturing sectors, including aerospace, due to its performance advantages [16]. Group 5: Development Trends - The global PPS resin market is set to evolve towards product performance optimization, increased penetration rates, and industry chain integration [17]. - By 2030, China's PPS resin consumption is projected to reach 94,000 tons, driven by trends in lightweight automotive manufacturing and home appliance modernization [17].