Polyamide Market To Advance At CAGR Of 6.2% By 2028

Polyamide Industry Overview

The global polyamide market size was valued at USD 33.30 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028.

The growing demand for polyamide as a replacement for metals to reduce weight is propelling the product demand in the automotive, electrical and electronics, consumer goods and appliances, and other industries. Polyamide exhibits high wear resistance, good coefficient of friction, very good chemical and temperature resistance, and impact properties. The aforementioned properties make polyamide suitable to be used in industrial valves, automotive parts, electrical and electronic devices, development of packaging films, textiles, and consumer products, like tennis strings, hockey sticks, and snowboards.

Gather more insights about the market drivers, restrains and growth of the Global Polyamide Market

To cater to the rising demand for electronic devices from the growing population, the electronics industry is simultaneously upgrading smartphones, computers, laptops, smartwatches, and other consumer electronic devices. Polyamides are used for manufacturing casings for televisions, laptops, mobile phones, and other electronic devices. Their low water absorption, superior balance, and high chemical, heat, and abrasion resistance make them suitable to be used in the production of connectors, switches, relays, components of 3D circuits, bobbins, and other parts for computers.

Asia Pacific accounted for the largest revenue share in 2020. Various government initiatives such as providing subsidies, tax cuts, and increasing the FDI limit, intended toward developing the manufacturing sector, are attracting major global players to expand their operations in the region. Asia Pacific is the largest producer of automobiles, consumer goods, and packaging materials, thereby paving the way for market growth in the region. Recommencing industrial operation in the region post-second wave of COVID-19 is anticipated to positively influence the demand for polyamide in the coming years.

The auto components industry is the most significant industry of the European Union and it emerged as a major contributor to the market growth for polyamide in 2020. The growth of the automobile sector and increased government focus to reduce vehicular emissions are creating more demand for lightweight plastics in the region. This is expected to drive the market for polyamide over the forecast period.

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

Laptop Market – The global laptop market size was valued at USD 101.67 billion in 2017. It is estimated to expand at a CAGR of 0.4% during the forecast period. In terms of volume, the market is anticipated to register a CAGR of 1.0% during the same period.
Textile Market – The global textile market size was valued at USD 993.6 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.0% from 2022 to 2030. Increasing demand for apparel from the fashion industry coupled with the growth of e-commerce platforms is expected to drive the market growth over the forecast period.

Polyamide Market Segmentation

Grand View Research has segmented the global polyamide market based on product, application, and region:

Polyamide Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)

Polyamide 6
Polyamide 66
Bio-based Polyamide
Specialty Polyamides

Polyamide Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)

Engineering Plastics
1. Automotive
2. Electrical & Electronics
3. Consumer Goods & Appliances
4. Packaging
5. Others
Fibers
1. Textile
2. Carpet
3. Others

Polyamide Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa

Market Share Insights

May 2021: Evonik Industries AG successfully tested its INFINAM PA 6005 P (polyamide 613 material) on the ST252P and HT403P laser sintering 3D printing systems developed by Farsoon Technologies.
August 2020: BASF India, a subsidiary of BASF SE, approved its merger decision to acquire BASF Performance Polyamides India.

Key Companies profiled:

Some prominent players in the global polyamide market include

BASF SE
AdvanSix Inc.
Ube Industries Ltd.
Domo Chemicals
Toray Industries, Inc.
Ashley Polymers Inc.
Ascend Performance Materials LLC
Toyobo Co. Ltd.
Lanxess AG
Huntsman Corporation
Goodfellow Group

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