Synopsis of Polyamides Market:
Polyamides are polymers composed of repeated amides such as -CO-NH-, linkages. These polymers are either obtained naturally in nature or formed by synthetic process. The naturally occurring polyamides are proteins, wool, and silk whereas artificial Polyamides include nylons, aramids, and sodium poly (aspartate) and are formed by step growth polymerization process or solid-phase synthesis method. They are known for high standard performance, enhanced efficiency, durability, reliability, and other features which are also influencing the market confidently. Due to these factors, they are used in various applications such as engineering plastics and fiber.
Among the various segments of the market, bio polyamides sub-segment holds a major portion due to the growing consumption of Polyamides and expected to continue its dominance in the forecast period. This sub-segment is further divided into PA 6, PA 66, PA 10, PA 11 and PA 12 segments. These materials are used in various end-use industries such as automotive, consumer goods, electronics, and others. Moreover, the growing demand for eco-friendly materials in major sectors is estimated to grow at a higher rate on account of its growing substitution for petroleum-based materials. In application segment, engineering plastics is leading the market due to boundless use of products in major sectors.
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This sub-segment is classified further into automotive, industrial/ machinery, electrical & electronics, consumer goods & appliances, packaging/film, and wire & cable segments. It is projected that the automotive sector is set to propel the market on a large scale due to endless use of polyamides in numerous parts such as radiator fans, speedometer gears, fuel tank, and others. The growing infrastructure development in packaging, consumer appliances, wire & cable is set to drive the market in the next couple of years due to advantages offered by the product such as lower cost, enhanced efficiency, and other features. The fibers segment is set to drive the market due to growing consumption of product on textiles, carpet, staple, and others. Moreover, the increasing consumer awareness and boundless use of the product in major industries are set to drive the market over the assessment period.
Segmental Analysis:
The Global Polyamides Market is segregated into the Types and Application Segment.
The market by Type is divided into bio polyamides, and speciality polyamides segments. The bio polyamides sub-segment is further segregated into PA 6, PA 66, PA 10, PA 11 and PA 12 segments whereas speciality polyamides sub-segment is classified into PA 6/10, PA 6/12, and PA 4/6 types.
The market by Application is bifurcated into engineering plastics, and fiber segments. The engineering plastics sub-segment is differentiated into automotive, industrial/machinery, electrical & electronics, consumer goods & appliances, packaging/film, wire & cable. Textile, industrial, carpet, and staple are the classifications of fiber sub-segment.
Intended Audience
Polyamides Market Manufacturers
Traders and Distributors of Polyamides Market
Production Process Industries
Potential Investors
Raw Material Suppliers
Nationalized Laboratory
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Key Players:
Some of the prominent players operating in the Global Polyamides Market are BASF SE( Germany), Honeywell International, Inc. (U.S.), Asahi Kasei Corporation (Japan), Evonik Industries AG (Germany), Dupont (U.S.), Formosa Plastics Corporation (Taiwan), Huntsman International LLC (U.S.), Arkema SA (France), Koninklijke DSM N.V. (the Netherlands), and UBE INDUSTRIES, LTD (Japan) among others.
Regional Analysis:
The Polyamides Market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market due to the growing demand for Polyamide materials in automotive, electrical & electronics, packaging, consumer appliances, and others. The increase in disposable income and growing demand of bio-based Polyamides in major industries has propelled the region to witness a higher growth over the assessment period. Countries such as China, Japan, and India are the major players in this market.
The North America region is growing significantly in the market due to rapid urbanization coupled with growing popularity of the product in end-use industries. It is predicted that growing investments in the end-use industries is likely to drive the market in the region during the forecast period. The growing consumption of Polyamides in electronics, packaging, and chemical sectors has propelled countries such as the U.S., Canada, and Mexico to achieve a stunning growth in the market as they provide excellent flexibility, stability and durable nature to the product.
The European market has received a remarkable growth due to stringent rules and regulations implemented by regulatory bodies to follow bio-based product in end-uses. The market has been driven by the application of this rule in automotive, industrial/machinery, wire & cable segments. It is estimated that the growing innovation and technological advancement are predicted to propel the growth in countries such as the U.K, Italy, Germany, and France during the forecast period.
The Latin American region is estimated to witness a significant growth in the market due to boundless use of product in polyamide applications such as textile, industrial, staple, and others. These materials are estimated to drive the market in the next couple of years due to their growing use in automotive interior & exterior parts, filter pads, and others. Moreover, the Middle East & Africa is anticipated to witness a higher growth in the market due to endless use of lightweight materials in major sectors.
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