Global Polyamide Market – Overview
Polyamide can be defined as polymers composed of repeated amides like -CO-NH-, linkages. Both the natural and artificial processes can be used to derive Polyamide from polymers. The natural ones can be obtained from wool, proteins, and silk. The artificial Polyamide are aramids, nylons, and sodium poly (aspartate) and can be formed by using a step growth polymerization process or solid-phase synthesis method. These Polyamide are known for their reliability, excellent performance, durability, enhanced efficiency, and other features. The global market for Polyamide can score better in the coming days, which has been predicted by Market Research Future (MRFR). According to MRFR, the Polyamide Market is projected to witness substantial growth at a CAGR of over 5% to reach USD 38.56 Billion by the end of 2030.
The time frame that the report includes spans across 2021 to 2030, which can be considered as the forecast period as well. Increasing intake of the market in various engineering processes over myriad sectors like industrial/machinery, automotive, consumer goods & appliances, electrical & electronics, wire & cable, packaging/film can be considered as the major contributing factors. Transparent Polyamide, simply put, are amorphous Polyamide that have been specially designed for use in transparent applications as a substitute to polycarbonate and other high-priced transparent polymers. Bio-based polyamide, polyamide 12, polyamide 66, and polyamide 6 are the major types of Polyamide. Owing to its alluring features and plentiful benefits transparent Polyamide are extensively used for manufacturing different products for sports and leisure industries, packaging, consumer care, healthcare, electrical and electronics, and automotive through extrusion processes, blow molding, and injection molding. Various factors are propelling the Polyamide Market growth. These factors, according to the latest MRFR report, include growing demand in the automotive industry both in emerging and developed countries, rising disposable income of consumers, worldwide increase in transportation activities, growing demand from coatings and electronics industry, increasing population, and growing construction activities.
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BASF SE (Germany),Evonik Industries AG (Germany),Lanxess (Germany),Arkema (France),DuPont (US),EMS-CHEMIE HOLDING AG (Switzerland),Mitsui Chemicals, Inc (Japan),Toray Industries Inc (Japan),KOLON PLASTIC INC (South Korea),AdvanSix Inc (US).
Market Dynamics
The report presents a detailed analysis of the global bio-polyamide market by providing readers with a comprehensive overview of the market’s historical trajectory. The leading drivers and restraints affecting the global bio-polyamide market are assessed in detail in the report. The historical impact of these drivers and restraints is analyzed in context of the current impact of these factors and projections are made for the likely impact of these drivers and restraints over the forecast period. Various components of the global bio-polyamide market are also studied in the report and projections are made for the growth trajectory of each distinct component from 2018 to 2023. The various segments and sub-segments within the global bio-polyamide market are studied in detail in the report. The study also makes a detailed analysis of the major players operating in the global bio-polyamide market and provides a detailed look at the various competitive strategies employed by players in the global bio-polyamide market. Likely future conditions with respect to the competitive landscape of the market are also explained in detail in the report.
Polyamide, a class of polymers used widely across several industrial applications. The biodegradability of bio-Polyamide is the major driver for the global Polyamide Market, as several end use industries, including automotive, textiles, and electronics and consumer goods have emphasized on the importance of using biodegradable and sustainable products in their industrial processes. In recent years, many industries have made it a key target to go green, with the usage of biodegradable components being one of the most important agendas tackled in this regard. This is likely to be a major driver for the Polyamide Market over the forecast period.
Bio-Polyamide are widely used in the production of nylon. This has been a major driver for the global Polyamide Market, as nylon has been used widely in the textile industry in recent years. The increasing demand for clothing and household items made from synthetic fibers is likely to be a major driver for the global Polyamide Market over the forecast period.
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Polyamide Market – Segments:
The global market report with a decent study of the Polyamide Market is covering segments like types and application segments. These segments can inspire growth with better inclusion of factors that have been studied for inputs and insights.
By type, the global market for Polyamide can be segmented by keeping track of bio Polyamide, and specialty Polyamide segments. The bio Polyamide segment has been sub-segmented into PA 6, PA 66, PA 10, PA 11 and PA 12 segments. The specialty Polyamide segment comprises PA 6/10, PA 6/12, and PA 4/6 types.
By application, the global market report on Polyamide can be segmented into engineering plastics and fiber segments. The engineering plastics segment has industrial/machinery, automotive, consumer goods & appliances, electrical & electronics, wire & cable, packaging/film, and others under its wings. On the other hand, the fiber segment can be sub-segmented into industrial, carpet, textile, and staple.
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Global Polyamide Market -Regional Analysis
The global market for Polyamide has better coverage of regions like Asia Pacific, North America, and Europe as major market contributors. Whereas, the analyses of the Middle East & Africa and South America had been conducted thoroughly, which results in a revelation of a moderate growth scale.
The Asia Pacific market can outdo others as the regional market is witnessing a hike in growth in myriad industries like electrical & electronics, automotive, consumer appliances, packaging, and others. This region would understand growth with better disposable income and participation from countries like Japan, China, and India.
North America’s growth would be bolstered by contributions made by the US and Canada as the regional infrastructural superiority is depending much on the structure of these two regions. These two countries are known for their robust automotive setup, industrial transformation, and better wire & cable. This growth would further receive traction from increasing applications in various end user industries.
In Europe, the growth would be similar to that of North America. The regional market players are contributing much in the growth by constantly developing innovations and creating scope for the easy percolation of the market. It is further becoming easier with countries like Germany, France, and the UK showing extensive growth in the automotive and textile industry.
Polyamide surging use in the automotive sector for filter pads, interior & exterior parts, and others can be seen as a positive influence on the South American market.
In November 2019, Bruggemann has launched a new Bruggolen M series chain modifiers that can be used to recycle Polyamide, which will solve the question regarding recycling.
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