Polyamide Market Size is projected to grow from USD 45 Billion in 2023 to USD 66 Billion by 2030, exhibiting a (CAGR) of 8.00%-MRFR
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Overview:
Polyamide Market Size was valued at USD 39 Billion in 2022 and is projected to grow from USD 45 Billion in 2023 to USD 66 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.00% during the forecast period (2023 - 2030).
Polyamides can be defined as polymers composed of repeated amides like -CO-NH-, linkages. Both the natural and artificial processes can be used to derive polyamides from polymers. The natural ones can be obtained from wool, proteins, and silk. The artificial polyamides are aramids, nylons, and sodium poly (aspartate) and can be formed by using a step growth polymerization process or solid-phase synthesis method. These polyamides are known for their reliability, excellent performance, durability, enhanced efficiency, and other features. The global market for polyamides can score better in the coming days, which has been predicted by Market Research Future (MRFR). The time frame that the report includes spans across 2021-2030, which can be considered as the forecast period as well. Increasing intake of the market in various engineering processes over myriad sectors like industrial/machinery, automotive, consumer goods & appliances, electrical & electronics, wire & cable, packaging/film can be considered as the major contributing factors.
Segmentation:
The global market report with a decent study of the Polyamides Market is covering segments like types and application segments. These segments can inspire growth with better inclusion of factors that have been studied for inputs and insights.
By type, the global Polyamides Marketcan be segmented by keeping track of bio polyamides, and specialty polyamides segments. The bio polyamides segment has been sub-segmented into PA 6, PA 66, PA 10, PA 11 and PA 12 segments. The specialty polyamides segment comprises PA 6/10, PA 6/12, and PA 4/6 types.
By application, the global report on Polyamides Marketcan be segmented into engineering plastics and fiber segments. The engineering plastics segment has industrial/machinery, automotive, consumer goods & appliances, electrical & electronics, wire & cable, packaging/film, and others under its wings. On the other hand, the fiber segment can be sub-segmented into industrial, carpet, textile, and staple.
Regional Analysis:
The global Polyamides Markethas better coverage of regions like Asia Pacific, North America, and Europe as major market contributors. Whereas, the analyses of the Middle East & Africa and South America had been conducted thoroughly, which results in a revelation of a moderate growth scale.
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The Asia Pacific market can outdo others as the regional market is witnessing a hike in growth in myriad industries like electrical & electronics, automotive, consumer appliances, packaging, and others. This region would understand growth with better disposable income and participation from countries like Japan, China, and India.
North America’s growth would be bolstered by contributions made by the US and Canada as the regional infrastructural superiority is depending much on the structure of these two regions. These two countries are known for their robust automotive setup, industrial transformation, and better wire & cable. This growth would further receive traction from increasing applications in various end user industries.
In Europe, the growth would be similar to that of North America. The regional market players are contributing much in the growth by constantly developing innovations and creating scope for the easy percolation of the market. It is further becoming easier with countries like Germany, France, and the UK showing extensive growth in the automotive and textile industry.
Polyamides surging use in the automotive sector for filter pads, interior & exterior parts, and others can be seen as a positive influence on the South American market.
Competitive Landscape:
The global specialty polyamides market can find growth with several trend-changing companies that are incorporating strategies that can trigger better growth. These transformations include steps like mergers, acquisitions, tie-ups, and other models. MRFR’s list of companies comprise Honeywell International, Inc. (U.S.), BASF SE (Germany), Evonik Industries AG (Germany), Asahi Kasei Corporation (Japan), Formosa Plastics Corporation (Taiwan), Koninklijke DSM N.V. (the Netherlands), Dupont (U.S.), Arkema SA (France), Huntsman International LLC (U.S.), and UBE INDUSTRIES, LTD (Japan). Their profiling can lead to a better understanding of the market.
In November 2019, Bruggemann has launched a new Bruggolen M series chain modifiers that can be used to recycle polyamides, which will solve the question regarding recycling.
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