Global Polyamide Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Polyamide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global polyamide market size, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global polyamide market size reached US$ 31.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 45.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028.
The rising demand for polyamide in the automotive sector due to its role in reducing vehicle weight and increasing fuel efficiency is contributing to the market growth. They are widely used in manufacturing various automotive components, including under-the-hood parts, electrical components, and structural elements. The growing emergence of electric vehicles (EVs) and more fuel-efficient models is driving the demand for lightweight, durable, and heat-resistant materials like polyamide. Additionally, the increasing shift towards autonomous and smart vehicles necessitates high-performance materials that can withstand diverse environmental and operational stresses, which is propelling the market growth.
The growing preference for bio-based polyamides that are derived from renewable sources as they offer a reduced carbon footprint and are more eco-friendly compared to petroleum-based polymers is propelling the market growth. This shift is supported by stringent environmental regulations and a heightened awareness about sustainability. These bio-based polyamides are also finding applications in areas, such as packaging, textiles, and automotive parts. Moreover, the trend of sustainability is promoting the use of bio-based polyamides and encouraging innovations in the recycling and life-cycle management of polyamide products.
The rising innovations in the synthesis and polymerization processes of polyamides are leading to more efficient, cost-effective, and environment-friendly manufacturing methods. These advancements include improved catalyst systems and novel polymerization techniques that allow for better control over the molecular structure and properties of the polyamides. These developments also enable the production of polyamides with specific characteristics tailored to different applications, ranging from high-strength fibers to engineering plastics. These advancements are expanding the applicability of polyamides in numerous sectors, such as electronics, aerospace, and consumer goods.
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Global Polyamide Market Trends and Drivers:
The increasing demand for polyamides in the food packaging industry due to their excellent barrier properties against oxygen, carbon dioxide, and aromas is supporting the market growth. This trend is driven by the rising consumer awareness about food safety and quality, alongside the increase in packaged food consumption.
Additionally, the growing utilization of polyamides in medical devices and equipment due to their biocompatibility, strength, and flexibility is positively influencing the market. This trend is also influenced by the rising advancements in medical technologies and an aging global population requiring more medical care.
Global Polyamide Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Arkema S.A., Asahi Kasei Corporation, BASF SE, DuPont de Nemours Inc., Evonik Industries AG, Gujarat State Fertilizers & Chemicals Limited (GSFC), Huntsman International LLC, Koch Industries Inc., Koninklijke DSM N.V., Lanxess AG, Mitsubishi Chemical Corporation, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Solvay S.A. and Toray Industries Inc.
The report segmented the market on the basis of region, type, application and end use industry.
Breakup by Type:
- Aliphatic Polyamides
- Aromatic Polyamides
Breakup by Application:
- Polyamide Fibers and Films
- Engineering Plastics
Breakup by End Use Industry:
- Automotive
- Electrical and Electronics
- Textile
- Construction
- Packaging
- Consumer Goods
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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