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Polyamide Market worth 30.76 Billion USD by 2021
The report "Polyamide Market by Application (Engineering Plastics, Fiber), Type (PA 6, PA 66, Bio-based & Specialty Polyamides), and Region (Asia-Pacific, North America, Europe, Middle East & Africa, South America) - Global forecast to 2021", The polyamide market is estimated at USD 25.14 Billion in 2016 and is projected to reach USD 30.76 Billion by 2021, at a CAGR of 4.1% from 2016 to 2021.
Browse 376 market data tables and 70 figures spread through 335 pages and in-depth TOC on “Polyamide Market by Application (Engineering Plastics, Fiber), Type (PA 6, PA 66, Bio-based & Specialty Polyamides), and Region (Asia-Pacific, North America, Europe, Middle East & Africa, South America) - Global forecast to 2021”
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The growth of the polyamide market is driven by the polyamide 6 and polyamide 66 segments due to their usage in a wide range of products across several industries. The applications of polyamide in the automotive sector have increased significantly. Polyamide is an ideal solution for vehicle weight reduction. It is fast replacing metal parts in the automotive industry due to the ease of mass production and molding. Thus, the high demand for polyamide parts from the automotive industry propels the growth of the polyamide market.
Bio-based & specialty polyamide is the fastest-growing type segment of the global polyamide market from 2016 to 2021
The bio-based & specialty polyamide type segment is projected to be the fastest-growing type segment of the polyamide market from 2016 to 2021. The demand for organic materials is expected to rise globally due to the rise in prices of petrochemical-based raw materials. Bio-based polyamides are a high-quality alternative to substitute petro-based materials. They can be used in automotive, electronics, and sports applications. These polyamides are created from bio-based performance polymers with improved properties, such as durability, heat & water resistance, and water solubility.
Engineering plastics application segment estimated to account for the largest share of the global polyamide market in 2016
The engineering plastics segment is estimated to account for the largest share of the polyamide market in 2016. Polyamide engineering plastics are mostly used in automotive sector to make various parts such as radiator fans, speedometer gears, fuel tank, oil filter housing, and others. Automotive is the largest end-use segment for engineering plastic polyamide, followed by electrical & electronic end-use segments. Automotive is one of the most important market segments for polyamides, especially in the emerging economies. Emerging economies are increasingly investing in sectors such as infrastructure development, chemical industries, and automotive. This is expected to fuel the growth of the polyamide market in the automobile segment.
The Asia-Pacific region was the largest polyamide market in 2016
Asia-Pacific dominated the polyamide market in 2016, with increased usage across industries such as automotive, consumer goods, electrical & electronic, building & construction, and textiles. There has been a rise in the demand for polyamide in recent years due to large-scale investments in automobile sector, where it is widely used. Asia-Pacific has experienced a rise in demand for luxury cars due to the increase in purchasing power of consumers. This has led to increased polyamide consumption in this region owing to its usage in production of lightweight automobiles. Polyamide is increasingly being used to replace metal in automobiles, which has led to a surge in its demand in this segment.
Key players operational in the polyamide market include BASF SE (Germany), Li Peng Enterprise Co. ltd, (Taiwan), Royal DSM (Netherlands), Ascend Performance Materials LLC (U.S.), Invista Sarl (U.S.), Arkema SA (France), and Evonik Industries AG (Germany), among others.
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