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The polyamide resins market size is forecast to increase by USD 3.23 billion, at a CAGR of 5.93% between 2023 and 2028. Market expansion hinges on multiple factors, notably the rising utilization of polyamide resins within the automotive sector, the thriving paper industry, and the substitution of traditional resins with polyamide variants. This growth is propelled by the unique properties of polyamide resins that make them well-suited for diverse applications.
Polyamide resins, a type of engineering plastic, play a pivotal role in enhancing performance and durability across various industries. In the automotive sector, biaxially oriented polyamide films are utilized for manufacturing fuel-efficient components, such as engine covers and under-the-hood components, due to their excellent thermal and chemical resistance properties. Similarly, in the paper industry, polyamide resins contribute to improved quality and efficiency by acting as sizing agents in the production of coated papers. These resins provide superior wet strength and water resistance, resulting in high-quality end products.
The shift toward polyamide resins is driven not only by their technical advantages but also by their eco-friendly nature and compliance with sustainability initiatives. Polyamide resins are recyclable and can be reused multiple times, making them a preferred choice for industries striving for a more sustainable future. This eco-friendly attribute, coupled with their technical superiority, collectively contributes to the robust growth trajectory of the polyamide resin market across various industrial segments.
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This market report extensively covers market segmentation by type (reactive polyamide resins and non-reactive polyamide resins), product (pellets and liquids), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
The market is propelled by the rising demand for bio-based polyamide resins and recycled polyamide resins due to their eco-friendly nature and sustainability. The trend towards using vegetable oil and unsaturated fatty acid dimer in manufacturing underscores the industry's commitment to environmental responsibility. Key drivers include the crystalline structure, curing properties, and flexibility of these resins, catering to diverse needs such as water resistance, wear resistance, and corrosion resistance. Challenges include balancing performance with cost-effectiveness and addressing concerns about carbon footprint and adhesion properties in various applications. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing paper industry is the key factor driving market growth. Due to the growing paper production across countries in North America, Northern Europe, and East Asia, the paper industry is growing globally. Paperboard is mainly used in the manufacturing of packaging products, such as cardboard boxes and folding cartons. The continuous increase in the production and sale of durable and nondurable goods that require packaging is likely to increase the production of paperboard. Such an increase in paperboard production is likely to fuel the growth of the global paper industry.
The paper recycling industry is experiencing a surge in growth due to the escalating demand for paper products, including newsprint, packaging, and writing paper. This trend is anticipated to fuel the need for materials such as polyamide resins, which are essential additives in the paper industry, contributing to the enhancement of paper's wet strength. As a result, the expansion of the paper industry will significantly boost the demand for polyamide resins and propel the growth of the global market during the forecast period. Polyamide resins, a type of polymer, are known for their exceptional chemical resistance, flexibility, and strength, making them indispensable in various industries, particularly in the production of paper products. The increasing adoption of paper recycling and the subsequent growth of the paper industry are expected to create substantial opportunities for the polyamide resins market.
Capacity expansions for manufacturing raw materials is the primary trend shaping market growth. The global market is greatly affected by the continued supply shortage of ADNs across the world. Such a peak in investments in new capability expansions will boost the availability of raw materials for manufacturing polyamide resins, which in turn is expected to drive the market growth. The growing demand for polyamide resins can be attributed to their hardening and plasticizing properties compared to epoxy resins.
In addition, sales of polyamide resins are increasing due to many properties such as - flexibility, water resistance, abrasion resistance, corrosion resistance, better thermal insulation and adhesion properties, etc. The use of polyamide resins is likely to grow greatly as they are available in granular as well as liquid form, thereby boosting the demand for polyamide resins and enhancing the growth of the global market during the forecast period.
Shortage in the supply of polyamide resins is a challenge that affects market growth. Polyamide resins such as nylon 66 are a major component used in airbag manufacturing. Yet, there is not enough supply of nylon 66 to meet the increasing demand from end-users. The time lag between the production of raw materials and the turning of those materials into commercially available nylon virgin polymer can be substantial, which can lead to a supply shortage.
In addition, environmental factors such as hurricanes, cold weather, and droughts in areas where ADN is produced have also resulted in supply shortages of polyamide resins. Owing to the shortage in supply of polyamide resins, the distributors are even having difficulty sourcing wide spec or reprocessed grades of polyamide resins. Hence, these factors are expected to restrain the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative market research and growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. In market growth analysis, data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth driven by various factors such as the demand for bio-based polyamide resins, recycled polyamide resins, and unsaturated fatty acid dimer in diverse industries. These resins, derived from vegetable oil in chemical plants, exhibit unique properties like crystalline structure, curing properties, and flexibility. They offer exceptional water resistance, wear resistance, corrosion resistance, and insulation properties, making them ideal for applications requiring high adhesion properties. Pellets and liquid forms of polyamide resins are extensively used in various sectors, including packed food packaging, vehicle components, adhesives, printing inks, and the textiles industry. Moreover, the emphasis on reducing the carbon footprint has led to increased adoption of post-consumer recycled polyamide, further driving market growth. This market segmentation underscores the diverse applications and benefits of polyamide resins across industries, highlighting their pivotal role in modern manufacturing and production processes.
The reactive polyamide resins segment is estimated to witness significant growth during the forecast period. Reactive polyamide resins are semi-solid viscous liquid synthetic resins with variable amine functionality. Reactive polyamide resins are made from dimeric fatty acids. Reactive polyamide resins are mainly used as curing agents in coating resins and adhesives. Reactive polyamide resins have good flexural properties, good curing and adhesion qualities, and are highly impact-resistant.
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The reactive polyamide resins segment was the largest segment and was valued at USD 5.32 billion in 2018. The segment is expected to witness high growth due to the growing demand for reactive polyamide resins in construction coatings. Significant growth in the infrastructure industry in the emerging markets of APAC, MEA, and South America is driving the demand for reactive polyamide resins. The growing residential and non-residential construction projects across the globe are boosting the demand for paints and coatings, which is thereafter increasing the consumption of reactive polyamide resins and promoting the growth of the market during the forecast period.
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APAC is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The APAC region is undergoing fast industrialization, particularly in countries such as China and India. This industrial growth shows improved demand for polyamide resins in various applications, including automotive, electronics, packaging, and textiles.
Moreover, China is one of the largest revenue contributors in APAC, owing to the high production and consumption of polyamide resins. Japan is also expected to have high growth in the market in APAC due to the presence of a large number of market place, such as Mitsubishi Chemical Holdings, Toyobo Co. Ltd., Unitika, and others, offering polyamide resins. Furthermore, countries such as China, Japan, India, and Indonesia are witnessing an increase in the number of paper and paperboard mills. Hence, such factors are expected to drive market growth in this region during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments
The Market is experiencing significant growth driven by various factors. Conventional resins are being replaced by eco-friendly alternatives like bio-based polyamide resins and recycled polyamide resins. These resins are composed of micro-molecular polycondensed compounds, derived from sources such as vegetable oil and unsaturated fatty acid dimers. Chemical plants play a crucial role in producing these resins, known for their crystalline structure, curing properties, and excellent plasticizer capabilities.
Moreover, industries such as the fiber industry, electronics, electricals, inks, and printing benefit from polyamide resins' wear resistance, insulation properties, and functional group versatility, especially those based on dimer acid (DAB) and epichlorohydrin. The automotive sector is adopting these resins for weight reduction and lead-free soldering. In the printing industry, they enhance clarity, water resistance, and gel recovery. Moreover, polyamide resins comply with environmental regulations, making them ideal for label manufacturing, packaging materials, and adhesives across various sectors. With the increasing demand for sustainable solutions and rapid industrialization driving urbanization, the Market is poised for further expansion, catering to diverse applications and contributing to reduced carbon footprints in industries ranging from textiles to packed food.
The Market is undergoing a transformative phase with the emergence of sustainable solutions like bio-based polyamide resins and post-consumer recycled polyamide. These resins are formulated from micro-molecular polycondensed compounds, often derived from sources like unsaturated fatty acid dimers and polyamines. Dimer acid-based (DAB) and polyamide epichlorohydrin resins are gaining traction, particularly in the electronics and electrical industry, where they support lead-free soldering and enhance electronic connectors' performance. In the printing sector, polyamide resins are crucial for achieving clarity in printing, offering anti-blocking properties and water and ester resistance. They play a pivotal role in the inks industry, catering to magazines, newspapers, and books, including the growing market for e-books. Furthermore, these resins find extensive use in automobile production for vehicle components and in the flexographic printing market for paper-based packaging materials. As industries increasingly prioritize environmental sustainability and address their carbon footprints, polyamide resins are becoming integral components in adhesives, printing inks, and textile applications. Their versatility, coupled with advancements in manufacturing technologies, aligns with the changing lifestyle preferences and demands for eco-friendly materials across diverse sectors.
Furthermore, the market is witnessing a significant shift towards sustainable solutions, prominently represented by bio-based polyamide resins and post-consumer recycled polyamide. These resins are formulated using micro-molecular polycondensed compounds, with inputs such as unsaturated fatty acid dimers and polyamines playing a crucial role. Additionally, dimer acid-based (DAB) and polyamide epichlorohydrin resins are gaining traction, especially in industries like the electronics and electrical industry, where they support lead-free soldering and enhance performance in electronic connectors. Some of the main elements which influence market landscape include Lead-free soldering, electronic connectors industry, post-consumer recycled polyamide, e-books, paper-based packaging material, anti-blocking properties, water resistance properties, ester resistance properties, carbon footprint, adhesives, and printing inks, textiles industry E books, Paper based packaging material and Anti blocking properties. The increasing Internet penetration has also influenced the demand for polyamide resins, particularly in applications related to e-books, the paper print sector, and paper-based packaging materials. These resins offer notable properties such as anti-blocking, water resistance, and ester resistance, making them suitable for diverse applications in adhesives, printing inks, textiles, and the broader inks and printing sector.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.93% |
Market Growth 2024-2028 |
USD 3.23 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.45 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 46% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arkema Group, Ascend Performance Materials Operations LLC, BASF SE, Celanese Corp., Domo Chemicals GmbH, DuPont de Nemours Inc., Ensinger GmbH, Evonik Industries AG, Honeywell International Inc., Koch Industries Inc., Koninklijke DSM NV, Lanxess AG, Merck KGaA, Mitsubishi Gas Chemical Co. Inc., Nexis Fibers a.s., Solvay SA, Thomas Swan and Co. Ltd., Toyobo Co. Ltd., Unitika Ltd., and Toray Industries Inc. |
Market dynamics |
Parent market analysis, Market forecasting, 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 market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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