The global HPPAs market size was USD 2.8 billion in 2021 and is expected to reach USD 4.0 billion by 2026, projecting a CAGR of 7.4% between 2021 and 2026. HPPAs are increasingly used in the automotive, electrical & electronics, industrial, medical, and other end-use industries. The increasing demand of recyclable materials drives the demand for HPPAs. However, the outbreak of COVID-19 has created ripples across various application industries leading to reduced demand for HPPAs. Due to the lockdown scenario in Europe and North America, the demand for HPPAs from automotive, electrical & electronics, industrial, medical, and other industries have declined in the first half of 2020.
The global HPPAs market is projected to register a significant growth in terms of value, during the forecast period. The high growth of HPPAs can be attributed to the growing end-use industries globally due to the rising population, rapid urbanization, and high economic growth in some regions. Emerging markets like China, UAE, and India are showing remarkable growth due to the aforementioned factors. Also, HPPAs are much better alternative when compared to its traditional substitute. Most of the non-recyclable plastic generated either ends up in landfills or sea. This has caused major policy changes in the European and American regions putting bans and sanctions on non-recyclable polymers.
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HPPAs offer a stable solution, as they are 100% recyclable in any form. These polyamides are made up of natural raw materials such as wood pulp. Some companies have also started to develop bio-degradable polyamides, making it all the more attractive option. Currently, all forms of HPPAs are recyclable and can be reformed into usable products.
The high cost of HPPAs to its traditional substitutes is the major restraining factors of this market. However, several opportunities have been identified in the HPPAs market. These include emerging applications in automotive, and electrical industries, which can fall as more new technologies for production emerge.
Over the past years, HPPAs manufacturers have strengthened their position in the global HPPAs market by adopting expansions, partnerships, agreements, new product/technology launches, joint ventures, contracts, and mergers & acquisitions. However, owing to lockdown announced by several countries in 2020, the demand for HPPAs from automotive, electrical & electronics, industrial, medical and other end-use industries has been declined, which resulted in declined demand for HPPAs.
The major manufacturers profiled in this report include Sika (Switzerland), Mapei SpA (Italy), Fosroc (UAE), Master Builders Solutions (Germany), Simpson Strong-Tie Company Inc. (US), are some of the key players in the HPPAs market. Royal DSM NV (Netherlands), E.I. du Pont de Nemours and Company (US),, SABIC (Saudi Arabia), BASF SE (Germany), Evonik (Germany), Arkema SA (France), Saudi Arabia Basic Industries Corporation (Saudi Arabia), and Lanxexx (Germany), and among others. The HPPAs business of these companies is severely affected due to the outbreak of COVID - 19 pandemic. Reduced demand for HPPAs from several applications and disruption in the supply chain have compelled the HPPAs. These developments, coupled with end-use industries resuming their operations at full capacities, would create demand for HPPAs during the forecast period.
E.I. DuPont de Nemours and Company is one of the leading manufacturers of a wide variety of polyamides. The company’s major polyamide products include PA6, PA66, and its combinations. These products are mainly used for food contact applications and blow molding and for high stiffness and impact applications. Currently, the company manufactures and supplies 141 combinations of polyamides based on PA6 and PA66, along with different levels of reinforcements. The company’s huge product portfolio makes it one of the leading companies in the HPPAs market. It is among the oldest players in the market, with over 200 years of experience.
Evonik Industries AG is among the leading manufacturers of specialty chemicals in the world. The company manufactures and supplies polyamides under the Vestamid brand. Its polyamides have applications in automobile tubing electric vehicles and fast curing. Evonik Industries AG offers products through four product segments: specialty additives, nutrition & care, smart materials, and performance materials. The company has a wide distribution network across Europe, North America, APAC, Central & South America, and MEA.
Related Reports:High Performance Polyamides Market by Polyamide Type (PA 11, PA 12, PA 46, PA 9T), Manufacturing Process (Injection & Blow Molding),End-use Industry (Automotive, Electrical & Electronics, Industrial, Medical), and Region - Global Forecast to 2026
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