Global Specialty Polyamides Market is Estimated to Reach USD 4 Billion by 2029 End

  • 31 Jul 2019
  • Chemicals & Advanced Materials

The Global Specialty Polyamides Market is estimated to reach USD 4 billion by 2029 end and is expected to register a CAGR of 5.8% during the forecast period 2019 to 2029.

There has been a growing focus on improving the automotive fuel efficiency owing to which the government has taken initiatives to implement favourable regulations regarding the usage of polyamides in the automotive, consumer goods and textile industry which has majorly influenced the market. Specialty polyamides are widely used in clothing manufacturing which is a vast market thus influencing the market growth significantly.

Regions that are primarily dependent on plastic products will take a significant amount of time to shift from using plastic to using polyamides and this is due to slow economic growth in the region which shall negatively influence the market growth.

Insights on Global Specialty Polyamides Market

1. By Region

  • Asia Pacific
  • North America
  • Europe
  • Latin America
  • Middle East & Africa

Asia Pacific leads the global market owing to high growth rates in countries like India, Japan, and China in terms of volume as well as value.  Furthermore, availability of low-cost raw materials and labour coupled with rising spending power will assist the further augmentation of the market.

North American region is expected to witness a healthy rise in the specialty polyamides market over the forecast period. The automotive and electronics industry in North America is rapidly growing and considering the rising demand for sustainable materials, the requirement for specialty polyamides will surely increase thus augmenting the market significantly.

2. By Type

  • Long-Chain
  • High-Temperature
  • Mxd6/Para

The long-chain polyamides segment dominates the market and is expected to do the same over the forecast period. There are different long-chain polyamides like PA11, PA12, PA610, PA612, PA410, PA1010 and PA1012 that are traditionally used for producing monofilaments who are chemically resistant and have good dimensional stability and this shall augment the market further.

3. By Application

  • Automotive
  • Electrical & Electronics
  • Retail

The automotive industry is gradually adopting specialty polyamide grades like PA12, PA11, PA6/12 and PA4/12. These grades are prominently used for thermal management of automotive products. Additionally, they maintain excellent strength during its exposure to high-temperature automotive fluids.

The retail segment is likely to showcase significant market growth over the forecast period owing to the growing demand of nylons for cloth and carpet manufacturing.

Competitive Landscape:

  • Tier 1 players- established companies in the market with a major market share  
  • Tier 2 players 
  • Emerging players which are growing rapidly 
  • New Entrants

Evonik AG uses polyether block amide (PEBA) elastomer for making pressure lines in trucks, medical equipment and most importantly in making sports goods. PEBA is prominently used for making customized sport shoe soles, especially football cleats. Evonik has also developed the world’s first flexible polymer material that is based on PEBA which is used in various powder-based 3D printing technologies.

Key Market Players:

  • Arkema S.A
  • Evonik Industries AG
  • BASF SE
  • Asahi Kasei Corp.
  • Invista
  • LG Chem.
  • DoeDuPont Inc.

FutureWise Key Takeaways

  • Growth prospects
  • SWOT analysis
  • Key trends
  • Key data-points affecting market growth

Objectives of the Study:

  • To provide with an exhaustive analysis on the specialty polyamides market by region, by type, by application
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions (along with countries)— Asia Pacific, Europe, North America, Latin America and Middle East & Africa
  • To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions

 

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