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A polyamide is a macromolecule with repetitive amide linkages i.e., CO-NH-. Polyamides occur both naturally (wool and silk) and artificially (nylons and aramids). Polyamide is a major engineering and high performance thermoplastics class because of its broad range of properties and uses. Exhibiting properties like high temperature and electrical resistance, high durability and tensile strength, and abrasion resistance, polyamides are widely used in textile markets, consumer goods and electrical appliances among others. Growing demand for lightweight materials in the automotive industry to provide increased efficiency and design flexibility has paved its way for the growth of polyamide market. Bio-based polyamide is gaining demand in the market owing to its eco-friendly nature.
The key market driver for the global polyamide market is the increase in demand from automotive industries. Due to the rising prices of raw materials in automotive industry, manufacturers are shifting towards polyamides for applications such as coatings and films. In addition, government regulations and rising health awareness in developing countries are expected to fuel the bio-based polyamide market.
Key Market Driver -
Growing automotive industry in developed and developing nations is expected to drive polyamide market.
Key Market Restraint -
Complex manufacturing process and availability of precursor
Key market restraint for the global polyamide market is the complex manufacturing processes and availability of the precursors are expected to hamper polyamide market growth. Degrading properties due to moisture absorption is another factor that may hamper the market growth.
Based on type, the market is segmented into PA6, PA66, and bio-based polyamide. Based on end-use industry, automotive, textile, electronics & electrical, consumer goods & appliances, building & construction, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Some of the notable companies in global bioplastics market are DuPont, BASF, Teijin, PolyOne, Honeywell, RTP company, Koch industries, Radici Group, DSM, Kuraray, Lanxess, JSC Kamenskvolokno, Kolon, and other key players.
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The global polyamide market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The polyamide market has witnessed the largest growth in Asia-Pacific region, with increased usage across industries such as automotive, consumer goods and electrical & electronics. Asia-Pacific has experienced a rise in demand for luxury cars due to the increase in purchasing power of consumers, which has led to increased polyamide consumption in this region. China is the leading consumer has contributed significantly to the growth of polyamides in Asia- Pacific region. North American and South American region has witnessed a rise in demand for polyamide due to increased usage in automobile and electronics market. North America is one of the most technologically advanced regions in the world, especially in terms of consumer appliances and other electronic goods. Recent innovations have resulted in the growth of polyamide market in electrical & electronics segment in North America. Europe and the Middle East & Africa are expected to experience higher growth in future years owing to its increased automobile sales; rising construction activities was taken by the government for the infrastructure. The growing demand for high quality and long lasting consumer electronics is fuelling the demand for polyamides in Europe. Primarily the European polyamide market is dominated by the electronics sector, followed by consumer goods & appliances.
By End-Use Industry
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