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Polyamide Market - Global Trends & Forecasts to 2019
The polyamide market is subjugated by respective regional players along with the presence of few global players in the key growth markets. The Asia-Pacific region is the largest market, followed by Europe in the global polyamide industry. Various market players have integrated their value chains so as to reduce the impact of external environment on product economics.
BASF SE (Germany), Li Peng Enterprise Co. (China), Formosa Group (Taiwan), Honeywell International Inc. (U.S.), Royal DSM N.V. (The Netherlands), etc. are among the important manufacturers of polyamide 6; and Ascend Performance Materials Inc. (U.S.), Invista (U.S.), E. I. du Pont de Nemours and Company (U.S.), Solvay/Rhodia (France), Shenma Industrial Co. Ltd. (China), BASF SE (Germany), Radici Group (Italy), and others are the most active and major players in the polyamide 66 market.
In terms of market activities, expansions was the most preferred development strategy by the players to increase their product portfolio, market share, and geographic reach. A large number of expansions by the key players was seen in 2011, followed by new product launches in 2012.
In 2012, Arkema strengthened its position in the polyamide market by the acquisition of two Chinese companies: Casda, the world leader in sebacic acid derived from castor oil, and Hipro Polymers, which produces polyamides 10 from sebacic acid. The geographical re-balancing of Arkema’s activities has resulted in a proportional increase of the polyamide industry in the Asia-Pacific market.
BASF is also engaged in manufacturing quality compounding plant for engineering plastics Ultramid (polyamide) compounds in Yesan, Chung Nam Province, Korea. Th construction of this new plant is expected to begin by the first half of 2014 and will cater the end-user industry demand by the end of 2015. The company is acknowledged by different end-user companies and associations for their innovative product designs.
Related Reports:Bio-Polyamide, Specialty Polyamide & Precursors Market by Type (PA 6, PA 66, PA 10, PA 11, PA 12 & Others), by Precursor (CPL, ADA & HDMA), by Material (Fiber & Plastics) & Application (Textile, Automotive, E&E & Others) - Global Trends & Forecasts to 2019
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