Market Outline: Specialty Polyamides Market
Specialty polyamides producers are high quality and eco-friendly alternatives to conventional crude oil-based raw materials and manufacture innovative, customized products for end-users. They are produced using the renewable sources such as castor oil (monomer derivatives feedstock including 11-aminoundecanoic acid, sebacic acid, hexamethylenediamine, 1, 12-dodecanedioic acid, etc.), palm kernel oil (monomer derivatives including 1, 3-butadiene and ω-amino lauric acid (ALS), etc. Owing to their ecological benefits, engineered nylons are gaining acceptance and both production and consumption of specialty polymers are on the rise.
Market Dynamics: Specialty Polyamides Market
Growing environmental concern shave led to rise in interest to develop polyamides using renewable feedstock in recent times. Growing disposable income, high demand for low fuel combustion vehicles and strict implementation of regulations by the governing bodies such as EPA has led to increasing demand for these products. Most of the companies have been heavily investing in R&D amenities to discover advanced and innovative special engineering nylons that are eco-friendly and easy to use, with less utilization of expensive & harmful raw materials. However, stringent regulatory policies imposed by Environmental Protection Agency (EPA) and European Union (EU) and other international regulatory authorities regarding the use of specialty polyamides are predicted to reinforce the market growth further. However, raw material availability and volatile price trends, changing health regulations and scrutinizing polyamide organizations remain bigger challenges for the global market growth.
Specialty Polyamides Market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2019 to 2025.
Market Scope: Specialty Polyamides Market
Specialty polyamides market is segmented based on product type and application
Based on product type, market is segmented into the following:
- Polyamide 6/10
- Polyamide 6/12
- Polyamide 4/6
- Polyamide 10
- Polyamide 11
- Polyamide 12
Based on the application, market is segmented into the following:
- Automotive, Electrical & Electronics
- Consumer Products
- Building & Construction
- Healthcare & Medical
- Oil & Gas and Energy, Others.
Regional Analysis: Specialty Polyamides Market
Geographically, specialty polyamides market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America Specialty Polyamides Market is projected to experience healthy rise in the demand for specialty polyamides over the forecast period. There has been a significant upswing in the demand for the product from the automotive and electronics industry in the last few years. Efforts are being taken by auto manufacturers to cut down vehicular emissions by implementing lightweight materials to reduce the curb weight of vehicle. Europe Specialty Polyamides Market is driving by rise in adoption of pain management devices by the healthcare professionals, increase in the prevalence of lifestyle related disorders such as cancer, and sophisticated healthcare infrastructure in Germany, France, and UK are bolster the market.
Asia Pacific Specialty Polyamides Market was the leading regional market in 2017. Countries such as China, Japan, and India are sights of high growth rates in the region in terms of value as well as volume. Availability of low-cost raw materials and labor and rising spending power will support the dominance of the segment through 2025. The region is poised to rise at the highest CAGR in terms of both volume and revenue during the forecast period.
- Evonik Industries AG
- Arkema S.A.
- BASF SE
- DowDuPont, Inc.
- Koninklijke DSM N.V.
- Asahi Kasei Corporation
- LG Chem; INVISTA
- Solvay America, Inc
- Radici Partecipazioni Spa
Notable Market Developments:
- October 11, 2017- BASF SE, the Germany based chemical giant, has developed new semi-transparent product portfolio of polyamide 6 and 66 grade product range called Ultramid. It is the plastics are resistant to heat aging up to 220�C and show excellent burst pressure and weld strength.