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The polyamide market share is expected to increase by USD 6.67 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.5%.
This polyamide market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers polyamide market segmentation by end-user (automotive sector, electrical and electronics sector, packaging sector, and others), type (PA 6, PA 6 and 6, bio-based PA, and specialty PA), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The polyamide market report also offers information on several market vendors, including AdvanSix Inc., Arkema S.A., Ascend Performance Materials Operations LLC, BASF SE, Domo Chemicals GmbH, DuPont de Nemours Inc., Evonik Industries AG, Formosa Chemicals and Fibre Corp., Goodfellow Cambridge Ltd., Huntsman International LLC, Invista, Koninklijke DSM NV, LANXESS AG, Lealea Group, Radici Partecipazioni Spa, Shenma Industrial Co. Ltd., Solvay SA, Toray Industries Inc., Toyobo Co. Ltd., and Ube Industries Ltd. among others.
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The superior properties and versatile nature of PAs is notably driving the polyamide market growth, although factors such as the volatility in crude prices and their impact may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the polyamide industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Polyamide Market Driver
One of the key factors driving growth in the polyamide market is the superior properties and versatile nature of PAs. PA polymer is useful for a wide range of applications that require plastic materials with high melting temperatures. It is diverse and adaptable to suit varied applications due to the availability of PA variants. The low-friction property of PAs allows its use for many large-volume standard products in addition to gears, bushings, and plastic bearings. PA 66 is one of the popularly used thermoplastic materials. It offers extreme heat resistance and strength. PA 6 is used for applications such as threads, nets, ropes, and knitted garments. PA 6-10 is widely used in making filaments of brushes, electric insulators, hosiery, and zip fasteners as monofilaments. Thus, the superior properties and the versatile nature of PAs will fuel the growth of the global PA market.
Key Polyamide Market Trend
The wide usage of PAs in the additive manufacturing industry is a polyamide market trend that is expected to have a positive impact in the coming years. The usage of PA polymers in the additive manufacturing industry is known to reduce material costs and has a significantly lowered environmental impact when compared with polymers based on fuels. With traditional manufacturing, most components in the automotive, electrical, and electronics industries are usually made of separate parts that must be produced, shipped to the same location, and then assembled. However, with additive manufacturing, companies can print complex designs in a single operation, effectively combining different components. Currently, many companies in these end-use industries are actively looking for opportunities to apply additive manufacturing to their products, making additive manufacturing one of the most promising and potentially most disruptive uses for industrial 3D printing. To be at par with the rapidly evolving industry of additive manufacturing, vendors in the global PA market have introduced filaments for 3D printing. Thus, the launch of such 3D printing filaments will augment the growth of the global PA market.
Key Polyamide Market Challenge
The volatility in crude prices and its impact will be a major challenge for the polyamide market during the forecast period. Globally, the PA value chain has suffered in terms of value in recent years. Market dynamics are highly dependent on the prevailing crude oil prices. The rapid fall in crude oil prices affected the prices of CPL, derivative benzene through cyclohexane. The final PA product cost depends on crude oil fluctuations. The volatile crude oil prices are inherent in the chemical industry. Minor stability can be anticipated by fundamental changes in the supply and demand dynamics in the global PA market. The fluctuation in raw material prices is expected to be a hindrance to the global PA market as it negatively impacts the overall pricing of PA products upfront. The decline in crude oil prices has also made advanced drilling activities, including offshore exploration and unconventional resources development, economically challenging in regions such as Europe, the Middle East, and North America.
This polyamide market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global polyamide (PA) market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the polyamide market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the polyamide market encompasses successful business strategies deployed by the key vendors. The polyamide market is fragmented and the vendors are deploying growth strategies such as offering alternate products based on new processes and technologies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The polyamide market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the polyamide market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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55% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for polyamide in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing demand for automobiles in the region, coupled with the emergence of China and India as global electrical and electronics manufacturing hubs will facilitate the polyamide market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic negatively impacted the PA market in APAC. The automobile manufacturing facilities in the region were shut down due to the implementation of lockdowns. In H2 2021, the introduction of COVID-19 vaccines led to a decline in the number of COVID-19 cases, which resulted in the lifting of most COVID-19-related restrictions in APAC. In 2021, the regional automotive industry witnessed recovery as the sales of NEVs in China increased by more than 2 million units compared to 2020.
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The polyamide market share growth by the electrical and electronics sector segment will be significant during the forecast period. The trend of miniaturization in the electrical and electronics industry is the driving factor that is creating significant growth opportunities for novel PA flame-retardant materials for use in electrical and electronics products. In addition, key players in the market are focused on new product development to be at par with the changing market dynamics.
This report provides an accurate prediction of the contribution of all the segments to the growth of the polyamide market size and actionable market insights on post COVID-19 impact on each segment.
Polyamide Resins market - The market share is expected to increase by USD 2.70 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.61%.
Polyamide Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2022-2026 |
$ 6.67 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.5 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 55% |
Key consumer countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AdvanSix Inc., Arkema S.A., Ascend Performance Materials Operations LLC, BASF SE, Domo Chemicals GmbH, DuPont de Nemours Inc., Evonik Industries AG, Formosa Chemicals and Fibre Corp., Goodfellow Cambridge Ltd., Huntsman International LLC, Invista, Koninklijke DSM NV, LANXESS AG, Lealea Group, Radici Partecipazioni Spa, Shenma Industrial Co. Ltd., Solvay SA, Toray Industries Inc., Toyobo Co. Ltd., and Ube Industries Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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