Polyamides Market Size Global Industry Analysis and Opportunity Assessment Forecast to 2023

Polyamides are macromolecules composed of recurring amide groups and linkages. These polymers are extensively used in end-use industries to impart thermal stability, lightweight and durable nature to the final product. Moreover, they also provide reliability and versatility to the product.
The global polyamides market is driven by the scope of its application in various sectors such as engineering plastics and fiber segments. Moreover, engineering plastics segment is set to grow at a higher CAGR owing to the endless use of lightweight materials in the sector.

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Market Scenario

Bio polyamides hold a major portion of the market. This segment is further divided into PA 6, PA 66, PA 10, PA 11 and PA 12 segments. The increasing demand for polyamides in end-use industries is the major factor behind their growth in the market due to thermal stability, water solubility along with corrosion resistance and other features offered by them. The extensive consumption of these materials has driven the manufacturers to adopt them in automotive, electrical & electronics, consumer goods & appliances, and other sectors. Low cost, high strength, long life, high standard performance, and others are the major factors behind the growth of polyamides in the market. Moreover, the implementation of stringent rules and regulation set by the regulatory bodies in developed and emerging economies is projected to drive the market on a higher scale over the assessment period.

Market Segmentation

The global polyamides market is segregated into types and application segment. The market by type is categorized into bio polyamides and speciality polyamides. The bio-polyamides sub-segment is differentiated into PA 6, PA 66, PA 10, PA 11 and PA 12 segments whereas textiles, carpet, and staple are the classifications of speciality amides sub-segment. The market by application is bifurcated into engineering plastics, and fiber segments. Among these, engineering plastics sub-segment is classified into automotive, industrial/machinery, electrical & electronics, consumer goods & appliances, packaging/film, wire & cable, and others. The fiber sub-segment is segmented into textile, industrial, carpet, and staple segments

Regional Analysis

Geographically, polyamides market is segmented across five regions in the world namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a majority of the market share due to advantages offered by the product and growing need for high- performance polyamides in major industries. North America is set to grow at a higher rate owing to growing demand for the product in packaging, automotive, consumer appliances, and other sectors. In this region, the manufacturers and investors are shifting their focus to use bio-based products in end-use applications. The enactment of new rules and regulations to use eco-friendly materials in major industries has driven the market in the European region. Due to boundless consumption of the product in automotive, electronics, healthcare, and others, Latin American region is estimated to witness a moderate growth in the market. The rising demand for superior performance materials in the construction sector is projected to drive the market in the Middle East & African region during the forecast period.

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Competitive Analysis

Some of the well-known players functioning 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.

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Polyamides Market by Type Distribution Channel Global Opportunity Analysis and Industry Forecast to 2023

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.

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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. 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.

Key Players and Competition Analysis

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.

Segmentation 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.

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.
Browse the market data and information spread across 138 pages with 36 data tables and 11 figures of the report “Polyamides Market Research Report- Forecast till 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/polyamides-market-5264