The polyamides market size was valued at USD 1.68 billion in 2019 and is estimated to register a substantial CAGR of over 6.8% during the forecast period, 2021–2028. The growth of the market is attributed to rising polyamides utilization in the production of insulation materials, pipes, industrial brushes and others which are further used in several end-user segments such as construction and building, electrical and electronics and automotive.
Polyamide refers to a polymer with numerous adaptable properties and applications and significant demand in various end-user industries such as textile, automotives, machinery, electronics, packaging and coatings. These polyamides arise in form of silk and wool among others and further synthesized artificially into product, polyamide 6, nylon and aramid are among the common artificially made polyamides. Artificial polyamides display applications such as low permeability to gases, good mechanical properties, resistance to wear and chemical resistance. Bio-based polyamides are gaining popularity in the market due to its eco-friendly properties. Polyamide 6 is the most dominant type among polyamides in terms of revenue and consumption due to its cost to performance ratio.
The Covid-19 pandemic had both favourable and unfavourable impact on the polyamides market. The demand for various healthcare and medical products, such as pharmaceutical packaging, temperature guns and others has increased which is likely to boost the market. On the other hand, many companies in the polyamides market has been on halt to comply with the government regulation which directly impacts the revenue flow. However, government’s steps and strategies have helped to neutralise the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
The report on the polyamides market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Polyamides Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Segmentation | Category (Polyamide 6,6, Polyamide 6, Polyamide 66, Kevlar, and Other Product Types) Application (Moisture-absorbent, Chemical-resistant, Temperature-resistant, Aesthetic, and Colorable) End-user (Automotive, Aerospace and Defense, Electrical and Electronics, Packaging and Storage, Extrusion, Textile, and Other End-user Industries) |
Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report | Arkema, BASF SE, DuPont, Royal DSM and Kuraray Co. Ltd. |
The polyamide 6,6 segment is projected to constitute a large market share
Based on category, the polyamides market is segregated into polyamide 6,6, polyamide 6, polyamide 66, kevlar, and other product types. The polyamide 6,6 segment is expected to account for a key share of the market during the forecast period owing to its applications and features over its substitutes which includes high mechanical strength, stiffness, fatigue resistance, high mechanical damping ability and ware resistance.
Chemical-resistant segment is expected to register a substantial CAGR
Based on application, the polyamides market is divided into moisture-absorbent, chemical-resistant, temperature-resistant, aesthetic, and colorable. The chemical-resistant segment accounts for a key share of the market and is estimated to propel over the forecast period owing to its applications in automotive industries; however, temperature-resistant is another considerable bi-product of polyamide which plays a crucial role various industries including pharmaceutical and automotive industry.
The Automotive segment is anticipated to expand at a significant pace
Based on end-users, polyamides market is segregated into automotive, aerospace and defense, electrical and electronics, packaging and storage, extrusion, textile, and other end-user industries. The automotive segment is expected to account for a key share of the market during the forecast period.
North America is expected to dominate the market
In terms of regions, the market is broadly classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to expand at a robust CAGR during the forecast period. The socioeconomic evolution and rising disposable income in these regions are anticipated to drive the market growth; however, the market of Asia Pacific is expected to exhibit a rapid growth rate in the coming years owing to increased applications of the polyamide.
Key players competing in the polyamides market include Arkema, BASF SE, DuPont, Royal DSM and Kuraray Co. Ltd.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
Key players competing in the polyamides market include Arkema, BASF SE, DuPont, Royal DSM and Kuraray Co. Ltd.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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