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The polyamide resins market size is estimated to grow at a CAGR of 5.93% between 2023 and 2028. The market size is forecast to increase by USD 3,232.79 million. The growth of the market depends on several factors such as the increasing application of polyamide resins in the automotive industry, the growing paper industry, and the replacement of conventional resins with polyamide resins.
This polyamide resins 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.
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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.
In addition, paper recycling is growing due to the peak in the demand for paper products, such as newsprint, packaging, and writing paper. Thus, an increase in paper recycling will fuel the demand for materials such as polyamide resins, which are used in the paper industry as wet-strength additives. Consequently, the growth of the paper industry will significantly drive the demand for polyamide resins and drive the growth of the global polyamide resins market during the forecast period.
Capacity expansions for manufacturing raw materials is the primary trend shaping market growth. The global polyamide resins 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 polyamide resins 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.
Global Polyamide Resins 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 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. 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 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 for epoxy resins used in surface coatings 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 5,323.42 million 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 polyamide resins 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 outbreak of COVID-19 in 2020 had a negative impact on the polyamide resins market in the APAC region. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. In addition, with the expansion of the e-commerce sector and the need for sustainable packaging materials, there is a growing demand for polyamide resins in packaging applications. They offer good barrier properties and durability. This is expected to foster the growth of the polyamide resins market in the region during the forecast period.
The polyamide resins market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Polyamide Resins 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 3,232.79 million |
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 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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