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The bio-based & specialty polyamide to be the fastest-growing type of the polyamide till 2021

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Rohna Patnakar
The bio-based & specialty polyamide to be the fastest-growing type of the polyamide till 2021

The Polyamide Market is estimated at USD 25.14 Billion in 2016 and is projected to reach USD 30.76 Billion by 2021, at a CAGR of 4.1% from 2016 to 2021.

Browse 376 market data tables and 70 figures spread through 335 pages and in-depth TOC on “Polyamide Market by Application (Engineering Plastics, Fiber), Type (PA 6, PA 66, Bio-based & Specialty Polyamides), and Region (Asia-Pacific, North America, Europe, Middle East & Africa, South America) - Global forecast to 2021”.

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The engineering plastics segment is estimated to be the largest application of polyamide, in terms of value.

Engineering plastics and fiber are the key applications of polyamide. In the automotive industry, polyamide engineering plastics are used for making radiator fans, speedometer gears, fuel tanks, and oil filter housing. The growing investments in the automotive sector of the emerging economies are promising for the growth of the polyamide market in the engineering plastics segment.

Bio-based & specialty polyamide is projected to register the highest CAGR in the polyamide market during the forecast period.

Based on type, the polyamide market has been segmented into PA 6, PA 66, and bio-based & specialty polyamide. Bio-based & specialty polyamide is projected to be the fastest-growing segment of the market due to its growing use in automotive, electronics, and sports applications. The soaring prices of petrochemical-based raw materials are likely to increase the demand for organic materials. Bio-based & specialty polyamide with excellent properties such as durability, heat & water resistance, and water solubility is a suitable alternative to petroleum-based materials.

China is a leading consumer of domestically produced and imported polyamides. China has been a driver for the rapid growth in last couple of decades, globally. However, it is now showing an early sign of relative economic slowdown. Its GDP annual growth rate was 6.7% in the first quarter of 2016, which was the lowest in the last six years. This will adversely impact polyamide market and could impede the continued investments and expansion in the polyamide market for a few years. There is a huge polyamide capacity planned in China in near future – economic slowdown will not just impact the overall capacity utilization rate of new domestic plants but could severely hit the polyamide manufacturing in Europe and North American region from where it imports significantly. 

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.Key players operating in the polyamide market, such as BASF SE (Germany), Li Peng Enterprise Co. ltd, (Taiwan), Royal DSM (Netherlands), Ascend Performance Materials LLC (U.S.), Invista Sarl (U.S.), Arkema SA (France), and Evonik Industries AG (Germany), among others, have adopted various strategies to increase their market shares. New product launches, acquisitions, and expansions are some of the key strategies adopted by market players to achieve growth in the polyamide market.

 

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