Large base of end-use industry boosting the demand of polyamides
- Vikas Kumar
- April 1, 2022
- CHEMICAL, NEWS
- Polyamide market Growth, Polyamide market news, Polyamide market share, Polyamide market Size, Polyamide market Trend
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The global polyamide market was stood at USD 30 billion and is expected to showcase growth of around 6% during the forecast period (2021-2027). Polyamides are used in a range of industries including automotive, electrical & electronics, consumer goods & appliances, textile, and packaging, among others. Since the demand from these industries are increasing owing to growing population couple with improving per-capita income, thereby increasing the demand of materials like polyamides.
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Polyamide found application as an engineered plastics, fibers, and adhesives. In industries like automotive and electrical & electronics it is mainly used as an engineered plastics while in textile industry, the polymer found application as a fabric. Further, polyamide is used in the manufacturing of hot melt adhesives. Therefore, being a well forward integrated material, the demand of polyamide is likely to grow with rising industrial production owing to growing population, urbanization, and improving standard of living. Further, increasing focus on the research & development of high-performance polyamides is expected to create new revenue markets for the products. For instance, in medical industry, improving standards and regulations mandating high quality of plastics used in medical applications is creating market for specialty polyamides in the medical industry. Specialty polyamides like polyphthalamide (PPA) can be used in medical equipment due to its compatibility with disinfectant, high strength, and stiffness.
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Based on type, the market is categorized into PA 6, PA 66, aramid, and Others. Among these, PA 6 and PA 66 are among the largest consumed polyamides owing to their usage in wide range of industries due to their properties and cost. Automobile, textile, and electrical & electronics are among the largest end-user of PA 6 and PA 66.
Moreover, demand of aramid is also likely to increase during the forecast period owing to increasing investment in defense sector. Aramid like Kevlar is widely used in defense equipment including glove, bulletproof vest, jacket, sleeve, and combat helmet, among others. As countries are getting more serious with national securities, demand of defense equipment’s would increase thereby propelling the demand of polyamide.
Based on end-user, the market is categorized into automotive, electrical & electronics, consumer goods & appliances, packaging, textile, and others. Among these, automotive held the prominent share in the market owing vast application area of polyamide in vehicle including battery casings, brake hoses, oil sumps and fenders. This in turn reduce the vehicle weight, thus improve the fuel efficiency. Further, using polyamides in place of metals in automobiles helps in cutting down the cost, thereby companies preferred polyamides over metals.
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For a better understanding of the market adoption of Polyamide, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for significant share in the market and is expected to showcase substantial growth during the forecast period owing to growing industrial production, increasing investment in setting up new facilities by western players in order to take advantage of lower labor rate and raw material. Further, growing population, increasing urbanization couple with improving per-capita income boosting the demand from end-use industry, thereby increasing the demand of polyamides.
Global Polyamide Market Segmentation
Market Insight, by Type
- PA 6
- PA 66
Market Insight, by Application
- Engineered Plastics
Market Insight, by End-User
- Electrical & Electronics
- Consumer Goods & Appliances
Market Insight, by Region
- North America Polyamide Market
- United States
- Rest of North America
- Europe Polyamide Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Polyamide Market
- Rest of Asia-Pacific
- Rest of World Polyamide Market
Top Company Profiles
- BASF SE
- AdvanSix Inc.
- Ube Industries Ltd.
- Domo Chemicals NV
- Toray Industries Inc.
- DuPont de Nemours Inc.
- Royal DSM N.V.
- Arkema S.A.
- Kuraray Co. Ltd.
- Lanxess AG