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Polyamides are polymer molecules produced by repeated linking of amide bonds. They are found naturally or can be synthesized artificially by solid phase synthesis or by step-growth polymerization. However, specialty polyamides are a category of polyamides that exhibit superior physical and chemical properties such as better strength, inelasticity, chemical stability, and better thermal characteristics. Specialty polyamides can be manufactured from a number of natural resources such as castor oil and palm kernel oil, thereby proving to be an environment-friendly product. Owing to its superior properties, specialty polyamides are widely used in different industries such as automobile, textile, and electronics.
COVID-19 scenario analysis
The outbreak of the COVID-19 pandemic has impacted the global specialty polyamide market to a great extent.
One of the major factors that fuels the growth of the specialty polyamide market is its extensive use majorly in manufacturing the interiors of automobiles. Increase in efforts toward producing lightweight and fuel-efficient vehicles has led to the usage of these specialty polyamides in the industry. Furthermore, with the rapid technological advancements, the application of specialty polyamides in the electrical and electronics industry is growing at a significant pace. Polyamides are used in display technologies, mobile electronics, home appliances, and in other electronic components. Moreover, the specialty polyamides are used for the manufacture of various other products such as thermoplastic elastomer, conveyor belts and pulleys, and antistatic adhesives. However, higher cost of the specialty polyamide materials has somewhat restrained the growth of the global specialty polyamide market. Conversely, the recyclability of these materials and the eco-friendly production is expected to drive the specialty polyamide market during the forecast period. Major automobile companies such as Audi, General Motors, and Mercedes Benz are increasing the usage of specialty polyamides for producing better and efficient vehicles, which is anticipated to boost the market.
In terms of market size, Asia-Pacific is dominating the global specialty polyamide market. This is attributed to the massive developments in the automobile and electronics industries in the countries such as India and China and surge in demand for specialty polyamides in these industries. The market in Europe and North America is expected to grow substantially catering to the escalating demand for bio-based materials. Moreover, rise in demand for fuel-efficient vehicles in developed countries of these regions has also driven the growth of the specialty polyamide market.
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Questions answered in the Specialty Polyamide Market research report:
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