Industry News

Polyamide Market to Grow at a CAGR of 5.4% from 2015 to 2020: M&M

Published on 2015-11-27. Author : SpecialChem

The report "Polyamide Market by Type (PA 6, PA 66, Bio-Based & Specialty), by Application (Automotive, Films & Coatings, Industrial/Machineries, Consumer Goods & Appliances, Fibers & Textiles, and Others), by Process, and by Region - Global Trends and Forecast to 2020", The polyamide market is projected to reach USD 43.77 Billion by 2020, at a CAGR of 5.4% from 2015 to 2020. This growth is majorly driven by the increasing demand from the automotive as well as fibers & textiles application segments. Asia Pacific is the largest market for polyamides, due to presence of manufacturing base of a large number of companies in this region. North America and Europe are established markets, with major global players operational in these regions.

Fig. 1: MarketsandMarkets

Automotive segment to dominate polyamide market due its increased demand in lightweight vehicle manufacturing

The automotive segment accounted for the largest share of the polyamide market, due to the high demand for lightweight vehicles globally. Polyamide is increasingly used in the production of such vehicles, along with the fact that it is available at low cost as compared to other thermoplastics and provides high mechanical strength.

Bio-based & specialty polyamides segment to witness high growth by 2020

The bio-based and specialty segment is expected to witness high growth from 2015 and 2020, as end user industries are switching to this type of polyamides for enhanced performance in specific applications. Specialty polyamides are being used in fuel systems of automotive, due to their high chemical resistance and low absorption rate. However, the PA6 segment is expected to dominate the polyamides market by 2020.

Fibers extrusion process to dominate the polyamides market with high demand from fibers and textiles industry

The polyamide market, based on process, is dominated by the fiber extrusion segment, due to the high demand for these type of polyamides from fibers and textiles market. Injection/extrusion molding processes are more preferred in automotive and manufacturing industries.

North America polyamide market is expected to witness high growth, due to the increasing consumption of bio-based & specialty polyamides in the region

North America polyamide market is expected to witness high growth, due to the increasing consumption of bio-based & specialty polyamides in the region. Asia-Pacific is expected to dominate this market, due to the increasing demand for polyamide in different application segments, especially the automotive, films & coating, and electrical & electronics.

The key players operational in the polyamide market include Ascend Performance Materials LLC (U.S.), BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), Formosa Group (Taiwan), Honeywell International Inc. (U.S.), Invista S.a.r.l (U.S.), Royal DSM N.V. (The Netherlands), Solvay SA (Belgium), and Asahi Kasei (Japan).

Key strategic activities in the market including mergers/acquisitions, collaborations/partnerships, product launches/developments have been covered, which provides a deep insight about the growth of the market.

About MarketsandMarkets

MarketsandMarkets annually publishes premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. It specializes in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

Source: MarketsandMarkets

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