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2021
Polyamide Market

Polyamide Market

by Type (Aliphatic Polyamides and Aromatic Polyamides), Application (Polyamide Fibers & Films and Engineering Plastics), and End-use Industry (Automotive, Electrical & Electronics, Textile, Construction, Packaging, Consumer Goods, and Others): Global Opportunity Analysis and Industry Forecast 2021-2028
Update Available On-Demand

Report Code: A11472
Pages: 355
Jun 2021 | 4629 Views
Author(s) : Snehal M, Prakhar J , Eswara P
Tables: 307
Charts: 66
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COVID-19

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Polyamide Market Outlook - 2021–2028

The global polyamide market size was valued at $26.7 billion in 2020, and is projected to reach $40.6 billion by 2028, growing at a CAGR of 5.4% from 2021 to 2028.

Gigantic investment in research and development of specialty polyamides coupled with increasing demand of polyamides in automotive industry will depict rise in sales of polyamides even during coronavirus pandemic (covid-19).

Polyamides are found naturally in wool and silk, as well as synthetically in nylon, polyamide 6, and aramid, among other materials. Wear resistance, strong mechanical qualities, low gas permeability, and chemical resistance are the characteristics of artificial polyamides. Bio-based polyamides are gaining popularity due to its eco-friendly nature.

Polyamide-Market-2021-2028

The increased demand for lightweight automobiles propels the growth of the polyamide market. Increased passenger car sales, particularly in emerging nations is anticipated to boost the demand for polyamides in automotive applications. This polymer, which is highly temperature resistant, is predicted to gain popularity with the increase in demand for lead-free soldering in electronics manufacturing. It is commonly used in electronic interconnections as well as conveyor systems and trays as a shielding material. Rise in electrical and electronics industry is anticipated to have a positive impact on this trend and continue to fuel worldwide market expansion. Government regulations, on the other hand, are expected to operate as a barrier to market growth in the Europe and North America regions. This problem is expected to be mitigated by increased manufacturing of bio-based polyamide. Furthermore, the market players are expected to benefit greatly from the shift in trend toward the manufacture of bio-based polyamide and expansion of R&D activity in the industry.

The polyamide market is segmented on the basis of type, application, end-use industry, and region. By type, the market is classified into aliphatic polyamides and aromatic polyamides.  By application, it is segmented into polyamide fibers & films and engineering plastics. By end-use industry, it is divided into automotive, electrical & electronics, textile, construction, packaging, consumer goods, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Global Polyamide Market, by Type

By type, in 2020, the aliphatic polyamides segment held the highest proportion of the market attributed to rise in production and manufacturing need for polyamide in automotive and packaging components, as well as electrical components. This trend is expected to continue during the projection period.

Polyamide Market
By Type

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Aliphatic Polyamides is projected as the most lucrative segment.

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Global Polyamide Market, by Application

By application, the polyamide fibers & films segment is predicted to account for the majority of revenue. The polyamide fibers and films category makes a substantial contribution to the polyamide market growth. One of the primary drivers of the nylon films market is the increase in demand for materials for packaging microwavable food products.

Polyamide Market
By Application

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Polyamide Fibers & Films is projected as the most lucrative segment.

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Global Polyamide Market, by End-Use Industry 

By end-use industry, the automotive segment is expected to lead the global market with a 30.4% market share and further expected to dominate during the forecast period. Radiator fans, gasoline tanks, oil filter housing, and speedometer gears are among the most common polyamide engineering polymers used in automobiles.

Polyamide Market
By End-use Industry

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Automotive is projected as the most lucrative segment.

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Global Polyamide Market, by Region

By region, Asia-Pacific is expected to dominate the global polyamide market and held for nearly 33.8% market share in terms of value in 2020. Moreover, Asia-Pacific has emerged as a major regional polyamide market driven by rise in automotive and food packaging applications.

Polyamide Market
By Region

2028
Asia Pacific 
North America
Lamea
Europe

Asia-Pacific holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.

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Impact Of Covid-19 On The Global Polyamide Market

  • The polyamide industry was unaffected by COVID-19 disruption. However, coronavirus-related lockdowns posed a number of problems for industry participants, including disrupted supply chains, logistical difficulties in shipping end goods, and recruiting staff from quarantines.
  • The outbreak of coronavirus disease (COVID-19) and subsequent government-imposed lockdowns have temporarily interrupted the activities of big end-use polyamide industries. As a result, the industry is in a downward spiral. Furthermore, negative effects on human health are anticipated to hamper market expansion during the predicted period. 

Key Benefits For Stakeholders

  • The report provides an in-depth analysis of the polyamide market forecast along with the current trends and future estimations.
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
  • Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global polyamide industry for strategy building.
  • A comprehensive polyamide market analysis covers factors that drive and restrain market growth.
  • The qualitative data in this report aims on market dynamics, trends, and developments.

Polyamide Market Report Highlights

Aspects Details
By Type
  • Aliphatic Polyamides
  • Aromatic Polyamides
By Application
  • Polyamide Fibers & Films
  • Engineering Plastics
By End-use Industry
  • Automotive
  • Electrical & Electronics
  • Textile
  • Construction
  • Packaging
  • Consumer Goods
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players Ascend Performance Materials LLC, Arkema SA, BASF SE, Evonik Industries AG, Gujarat State Fertilizers & Chemicals Limited (GSFC), Koch Industries, Lanxess, Mitsubishi Chemical Holdings, Radici Group, Royal DSM.
 

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The global polyamide market is moving toward growth stabilization phase in its industry life cycle. The factors driving the global market for polyamide include growth in demand from the automotive, electrical & electronics, textile, aerospace & defense, electronics, and packaging. Polyamide 6 sheets provide excellent barrier characteristics in food packaging, keeping oxygen out and sealing aroma. The market is predicted to expand due to rise in demand for processed foods. There is a rise in environmental awareness and use of recyclable items among people. This is projected to foster the demand for bio-based polyamides.

Polyamide engineering plastics are used to make radiator fans, gasoline tanks, oil filter housings, and speedometer gears, among other things. Thus, the growth in the adoption of polyamide engineering plastics in the automotive industry further enhance its market size in the future. This polymer is increasingly being used by automotive makers to reduce system costs and integrate components to improve vehicle fuel efficiency. This pattern is predicted to fuel product demand in the automobile industry. Asia-Pacific has emerged as a prominent regional polyamide market owing to the rise in use of polyamide in the automotive and food packaging industries. Surge in demand for processed food products in the emerging markets of Asia-Pacific and Latin America are expected to drive the regional market growth over the next seven years.

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FREQUENTLY ASKED QUESTIONS?

A. The burgeoning automotive industry, in confluence with the escalating demand for electronic goods, represents one of the major factors bolstering the global bio-polyamide market growth.

A. The market value of polyamide in the forecast period is anticipated to be $40.6 Billion.

A. Ascend Performance Materials LLC, Arkema SA, BASF SE, Evonik Industries AG, Lanxess, Mitsui Chemicals, Inc., and Royal DSM are the top companies in the polyamide industry

A. Consumer goods and automotive industry is projected to increase the demand for polyamide market

A. Aliphatic polyamides is the leading segment in this market

A. Growing automotive industry in developed & developing countries and increasing demand from applications in electronics and coatings industry is another factor driving the polyamide market.

A. The expansion of automotive is expected to boost demand for polyamide, thus boosting the growth of the global market during the projected period.

A. Owing to the outbreak of the COVID-19 pandemic, the global polyamide market is expected to witness a slowdown during the next couple of years. However, the pandemic ensured a strong rise in consumer goods market, resulting in constant increase in sports items, batteries, kitchen appliances, and others demand is expected to boost the growth of the global market during the forecast period.

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