Polyamide Market Size is projected to reach USD 40 billion by 2030, growing at a CAGR of 3.0%: Straits Research

New York, United States, Aug. 03, 2022 (GLOBE NEWSWIRE) — Polyamide is a long-chain multi-unit molecule that is linked together with amide groups. Amide groups have a chemical composition of CO-NH. Polyamide is formed in natural and artificial states. Examples of naturally occurring polyamides are proteins such as silk and wool, while examples of artificial polyamides include nylons, aramids, and sodium poly aspartate.

Get a Free Sample Copy of This Report @  https://straitsresearch.com/report/polyamide-market/request-sample 

Rising Demand from Umpteen Industries to Augment Value

The automotive sector is fairly consolidated, with 49% of the industry being occupied by the dominant player such as Ford, GM, Volkswagen, and Toyota. Integration of Polyamide in the automotive sector towards bearing, bushings, wire harness connectors, oil containers, cylinder head covers, and fuse boxes will increase the value of the global polyamide market growth. Additionally, rising demand from the sector of electrical and electronics manufacturers, garments, and others will further increase the market’s footprint.

Polyamide is also integrated within the electronic and electric sector in manufacturing PCBs and miniature circuit breakers (MCBs). They are also heavily used in cables and wirings, connectors, contractors, and low voltage switch gears, among others. Polyamide also contains a robust set of attributes such as good process ability, thin walls, laser marking ability, lower flammability, higher resistance to stiffness and toughness, higher heat distortion temperature, excellent flow characteristics, and a shorter injection cycle time which make them highly accessible within a wide range of applications. Polyamide is also used within the garment industry and is heavily used for manufacturing sportswear and loungewear.

Impact of COVID-19 on the Market

The global pandemic slowed down the growth of the global polyamide market due to disruption in the supply chains and constant nationwide lockdowns. Demand for PA 6 and PA 66 was lowered as production costs were raised due to fewer workforces being optimized due to the pandemic and increasing restrictions on the general population. Due to a fragmented transport sector, the pharmaceutical and consumer goods sector was affected owing to a huge demand-supply cycle.

As the tenure of the pandemic moved on, the competitive landscape of the market changed as companies began investing in developed regions. Investments towards the R&D departments to improve the product offerings. Government bodies worldwide further choose to support the market’s growth by incentivizing middle-class income groups.

Report Scope

Report Metric	Details
Market Size	USD 40 Billion by 2030
CAGR	3.0% (2020-2030)
Historical Data	2019-2020
Base Year	2021
Forecast Period	2022-2030
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Product, Application, and Regions
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	BASF SE | AdvanSix Inc. | Ube Industries Ltd | Domo Chemicals | Toray Industries Inc. | Ashley Polymers Inc. | Ascend Performance Materials | Toyobo Co Ltd | Lanxess AG | Huntsman Corporation | Goodfellow Group
Key Market Opportunities	better investment opportunities and reduced costs of products further led to companies investing heavily within their R&D departments.
Key Market Drivers	Increasing Demand from Automotive Sector

Buy Now Full Report @ https://straitsresearch.com/buy-now/polyamide-market 

Regional Analysis for the Global Polyamide Market

Asia-Pacific had the largest polyamide market growth, with a market value of USD 13,637 million in 2021. It is expected to grow to USD 18,154 million by 2030, with a CAGR of 3.9%. Factors such as easy availability of raw materials and lowered labor costs coupled with decreasing carbon footprints of electric vehicles will contribute to the growth of the regional market. China will act as the largest contributor, with a market value of USD 6,203 million in 2021. It will grow to an approximate value of USD 9,033 million by 2030, with a CAGR of 4.8%.

Europe will account for a significant market share, with a value of USD 9,384 million in 2021. It is expected to grow to a market value of USD 11,453 million by 2030, with a CAGR of 2.5%. The presence of a well-established automobile sector with players such as Fiat, BMW, and Volkswagen will contribute to the regional growth. Germany had a market value of USD 3,424 million in 2021 and will grow to an estimated value of USD 4,726 million by 2030, with a CAGR of 2.9%

North America had a value of USD 6,266 million in 2021 and is expected to grow to a value of USD 8,043 million by 2030, with a CAGR of 2.6% during the forecast. Factors such as lightweight, strong strength-to-weight ratio and electromechanical resistance will contribute to the increasing adoption rate. The global polyamide market in Central and South America accounted for a value of USD 1,528 million in 2021. It is expected to grow to a value of USD 2,043 million by 2030, registering a CAGR of 3.3% during the forecast.

Key Highlights

• The global polyamide market size was valued at USD 32 billion in 2021. The market is projected to grow from USD 32.96 billion in 2022 to USD 40 billion by 2030, with a CAGR of 3.0% during the forecast period 2022 to 2030
• Based on product, the market is segmented into polyamide 6, polyamide 66, bio-based polyamide, and specialty polyamide. Polyamide 6 is expected to have an estimated market value of USD 20,026 million by 2030, growing at a CAGR of 2.8%.
• Based on application, the market can be divided into engineering plastics and fibers. Engineering plastics will account for the largest market share, with an estimated market value of USD 23,015 million in 2030 to account for a CAGR of 2.9%
• Geographically, the market can be categorized into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific will witness the largest market share with an estimated value of USD 18,154 million in 2030, growing at a CAGR of 3.9%

Get a Free Sample Copy of this report @ https://straitsresearch.com/report/polyamide-market/request-sample

Competitive Players for the Global Polyamide Market

The dominant players in the global polyamide market are

• BASF SE
• AdvanSix Inc
• Ube Industries Ltd
• Domo Chemicals
• Toray Industries, Inc
• Ashley Polymers, Inc
• Ascend Performance Materials
• Toyobo Co. Ltd
• Lanxess AG
• Huntsman Corporation
• Goodfellow Group
• others

Global Polyamide Market: Segmentation

By Product

• Polyamide 6
• Polyamide 66
• Bio-based Polyamide
• Specialty Polyamide

By Application

• Engineering Plastics
  • Automotive
  • Electronic and Electrical
  • Consumer Goods and Appliances
  • Packaging
  • Others
• Fibers
  • Textile
  • Carpet
  • Others

By Regions

• North America
• Europe
• Asia-Pacific
• Central and South America
• The Middle East and Africa

TABLE OF CONTENT

1          Introduction

1.1      Polyamide Market Definition

1.2      Polyamide Market Scope

2          Research Methodology

2.1      Primary Research

2.2      Research Methodology

2.3      Assumptions & Exclusions

2.4      Secondary Data Sources

3          Executive Summary

4          Market Overview

4.1      Report Segmentation & Scope

4.2      Value Chain Analysis: Polyamide Market

4.2.1  Vendor Matrix

4.3      Key Market Trends

4.3.1  Drivers

4.3.2  Restraints

4.3.3  Opportunities

4.4      Porter’s Five Forces Analysis

4.4.1  Bargaining Power of Suppliers

4.4.2  Bargaining Power of Buyers

4.4.3  Threat of Substitution

4.4.4  Threat of New Entrants

4.4.5  Competitive Rivalry

4.5      Environment & Regulatory Landscape

4.6      Forecast Factors & Relevance of Impact

4.7      Macro-Economic & Geopolitical Scenario

4.8      Parent Market Overview

4.9      Technology Landscape

4.10   Market Share Analysis

4.11   Potential Venture Analysis

4.12   Regional Price Trends

4.13   Raw Material Trends

4.14   Cost Structure Analysis

4.14.1            Labor Cost

4.14.2            Consumables

4.14.3            Maintenance Cost

4.15   Covid-19 Impact Analysis:

4.15.1            Pre and Post Covid-19 Market Scenario Analysis

4.15.2            Market Recovery Timeline and Challenge

4.15.3            Measures Taken by Top Players

4.15.4            Quarterly Market Revenue and Growth Forecast till 2021

4.15.4.1        North America

4.15.4.2        Europe

4.15.4.3        Asia-Pacific

4.15.4.4        Central and South America and the Caribbean

4.15.4.5        The Middle East and Africa

5          Product Overview

5.1      Introduction

5.1.1  Market Size & Forecast (Value & Volume)

5.2      Polyamide 6

5.2.1  Market Size & Forecast (Value & Volume)

5.3      Polyamide 66

5.3.1  Market Size & Forecast (Value & Volume)

5.4      Bio-based Polyamide

5.4.1  Market Size & Forecast (Value & Volume)

5.5      Specialty Polyamide

5.5.1  Market Size & Forecast (Value & Volume)

6          Application Overview

6.1      Introduction

6.1.1  Market Size & Forecast (Value & Volume)

6.2      Engineering Plastics

6.2.1  Market Size & Forecast (Value & Volume)

6.3      Fibers

6.3.1  Market Size & Forecast (Value & Volume)

7           Regional Overview

7.1      Introduction

7.1.1  Market Size & Forecast (Value & Volume)

7.2      North America

7.2.1  Economic Overview

7.2.2  Market Scenario

7.2.3  U.S.

7.2.4  Canada

7.2.5  Mexico

7.3      Central and South America and the Caribbean

7.3.1  Economic Overview

7.3.2  Market Scenario

7.3.3  Brazil

7.3.4  Argentina

7.3.5  Colombia

7.3.6  Rest of Central and South America and the Caribbean

7.4      Europe

7.4.1  Economic Overview

7.4.2  Market Scenario

7.4.3  Germany

7.4.4  France

7.4.5  The U.K.

7.4.6  Italy

7.4.7  The Rest Of Europe

7.5      Asia-Pacific (APAC)

7.5.1  Economic Overview

7.5.2  Market Scenario

7.5.3  China

7.5.4  Japan

7.5.5  India

7.5.6  Australia

7.5.7  South Korea

7.5.8  Rest Of APAC

7.6      Middle East

7.6.1  Economic Overview

7.6.2  Market Scenario

7.6.3  South Arabia

7.6.4  The UAE

7.6.5  Qatar

7.6.6  Oman

7.6.7  Turkey

7.6.8  The Rest Of Middle East

7.7      Africa

7.7.1  Economic Overview

7.7.2  Market Scenario

7.7.3  Nigeria

7.7.4  South Africa

7.7.5  The Rest Of Africa

8          Competitive Landscape — Manufacturers & Suppliers

8.1      Competition Dashboard

8.2      Industry Structure

8.3      BASF SE

8.3.1  Business Overview

8.3.2  Financial Performance

8.3.3  Recent Developments

8.3.4  Portfolio

8.4      AdvanSix Inc.

8.5      Ube Industries Ltd

8.6      Domo Chemicals

8.7      Toray Industries Inc.

8.8      Ashley Polymers Inc.

8.9      Ascend Performance Materials

8.10   Toyobo Co Ltd

8.11   Lanxess AG

8.12   Huntsman Corporation

8.13   Goodfellow Group

9          Conclusion & Recommendation

10       Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/polyamide-market/toc 

Market News

• In June 2021, Ascend Performance Material announced expanding the production facility of HiDura polyamides in Greenwood Plant, South Carolina, to meet the demands arising from the need for new products.
• In March 2021, Lanxess increased the prices of their engineered plastics, Durethan A (Polyamide 6) and Durethan B (Polyamide 66), in Europe and the Middle East and Africa to increase the prices of raw materials, logistics, and energy.
• In March 2021, Ube Industries, Inc. announced supplying polyamide (PA6) resins for the hydrogen tank of fuel cells vehicle, MIRAI, for Toyota Motors Corporation.
• In April 2020, Domo Chemicals completed their divestment of Domo Films Solutions S.p.A polyamide films solution business to JPF Italy S.p.A.
• In October 2020, BASF SE announced Ultramid B3E2G6 SI BK23353 and the Ultramid B3E2G10 SI BK23353 glass fibers with polyamide 6 reinforced for integrating with the automotive interior.
• In June 2020, Ascend Performance Materials announced completely integrating the assets of NCM (Changshu) Co. Ltd. and Tehe Engineering Plastic (Suzhou) Co. Ltd. This acquisition is regarding the firm’s entry into the Asian market.
• In March 2020, Domo Chemicals announced plans to invest USD 14.2 million in a new Polyamide plant in China which will have a capacity to produce 50,000 tons of sustainable and innovatively engineered Polyamide compounds annually.
• In January 2020, Toray Industries Inc. announced they developed micro-level spherical polyamide particles (PA6/PA66) with high melting points for advanced 3D printing solutions to enable a higher restraint and heat.
• In January 2020, BASE SE announced completing the acquisition of Solvay Polyamide (PA66) business to support their consumers with the latest generation of engineered plastic solutions.

• In March 2019, BASF SE inaugurated its new research and development center in Shanghai, China. It will have a new automotive application center for handling research and development activities specific to the automotive industry

News Media

Widescale Applications of Plastics to Ascend the Blow Molded Plastic Market

Pea Protein Isolate Market: An Emerging Food Supplement Getting Popular Among Consumers

Biopolymers Segment to Dominate the Green Chemicals and Materials Market

Novel Applications of Sodium Dichromate to Drive the Market Growth

Have a Look at the Related Research Report: 

Dairy Protein Market Information by Type (Whey Protein, Milk Protein Concentrate), Application (Food and Beverages, Nutrition), Form (Solid, Liquid), and Region – Forecast till 2030

Isosorbide Market Information by Application (Polyethylene Isosorbide Terephthate (PEIT), Polycarbonate, Polyurethane), End-Use (Resins & Polymers, Additives)-Forecast Till 2026 

Polypropylene Market Information by Type (Homopolymer, Copolymer), End-User (Medical, Packaging, Consumer Goods, Automotive, Construction), and Regions-Forecast till 2029 

Polypropylene Foam Market Information by Type (Expanded Polypropylene (EPP) Foam, Extruded Polypropylene (XPP) Foam), Application (Automotive, Packaging), and Region — Forecast till 2029

Automotive Plastics Market Information by Product Type (Polypropylene, Polyurethane, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene), Application, and Region — Forecast Till 2026

About Straits Research Pvt. Ltd.

StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.

For more information on your target market, please contact us below:

Phone: +1 646 480 7505 (the U.S.)

+91 8087085354 (APAC)             

+44 208 068 9665 (the U.K.)

Email: sales@straitsresearch.com

Follow Us: LinkedIn | Facebook | Instagram | Twitter