The rise in demand from electronics and packaging applications segment as well as the automobile industry drive the polyamide market.
It is majorly used in these three applications. These three applications are likely to grow at a healthy rate. Eventually, polyamide will also have a promising future. Furthermore, shift in trend towards the production of bio-based polyamide and growing R&D initiative in the field is projected to offer immense opportunities for the market players. However, stringent government guidelines are likely to act as barrier in growth of the market in Europe and North America regions. Rising production of bio-based polyamide is projected to off-set this challenge.
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Prominent Players In This Market are:
Royal DSM N.V., Solvay SA, Arkema SA H, Lanxess AG and Asahi Kasei Corporation.
By type, the market is segregated as polyamide 6, polyamide 66 and bio-based & specialty polyamide. The bio-based & specialty polyamide is further sub-segmented as polyamide 11, polyamide 12, polyamide 46, polyamide 6/10, polyamide 6/12, Ppa (Polyphthalamide) and others. In 2018, polyamide 6 accounted for the largest share of the overall market. The growth of polyamide 6 market is driven by rising demand from automobile, electronics and food applications. Moreover, bio-based & specialty polyamide segment is anticipated to be the fastest growing segment during the forecast period. Supportive government regulations, rise in health awareness and fluctuating prices of raw materials are factors spurring the market growth for this segment.
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By application the market is segregated as engineering plastics and fiber. Engineering plastics is further sub-segmented into automotive, industrial/machinery, electrical & electronics, consumer goods & appliances, packaging/film and others. Fiber is further sub-segmented into textile, industrial, carpet and staple. In 2018, engineering plastics segment dominated the market. Engineering plastics are majorly used in automobiles, electrical & electronics, consumer goods and packaging/film applications. As these end use industries is witnessing growth. The demand for engineering plastics will in turn witness high growth in coming years.
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