Polyamide Market: Current Analysis and Forecast (2021-2027)

Polyamide Market: Current Analysis and Forecast (2021-2027)

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). Over the years, polyamides have made strong uphold in the large number of industries owing to its characteristics like good chemical and temperature resistance; provide strength, toughness, and stiffness; and resist wear and abrasion. Industries like automobile including transportation, electrical & electronics, and packaging are some of the major consumers of polyamides owing to its industry preferred properties like lower weight couple with help in reducing the cost without compromising on quality. In automobile industry, polyamide is used mainly as engineered plastics in underhood parts, intake manifold, fuel system, airbag container, and it is also used in exterior parts. The use of polyamide in automobile helps in cost cutting, weight reduction, and higher fuel efficiency. Moreover, polyamides are widely used in electrical & electronics industry owing to its excellent thermal, electrical, mechanical properties. Thus, increasing investment in electrical & electronics industry to improve the transmission & distribution of power and increasing semiconductor production boost the demand of polyamide. However, currently, most the polyamide is derived using crude-oil based raw materials owing to which price of polyamide raw materials is highly dependent on international crude-oil market, which is highly fluctuating, thus manufactures finds difficulty in maintaining profit margins.

Insights Presented in the Report

“Amongst type, PA 6 and PA 66 segment held prominent share in the market in 2020.”

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.

“Amongst application, engineered plastics segment accounted for major share in the global polyamide market

Based on application, the market is categorized into engineered plastics, fibers, and adhesives. Among these, engineered plastics held the significant share in the market owing to its vast usage in automobile, packaging, and electrical & electronics industries. The demand of polyamides has increased with the increasing focus of automobile companies on vehicle weight reduction. In engineering plastics application, polyamides are commonly used as co-polymers (for example co-polymers of 6 and 66) and compounded with other materials. These fillers include glass beads, glass fibers and carbon fibers.

“Asia Pacific captured significant position in the Polyamide market”

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.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country level analysis of the industry