High-Performance Polyamides Market Size & Share | Forecast Report Till 2030
The global high-performance polyamide market was valued at USD 2,642.1 in 2018 and is estimated to garner USD 2916.7 million by the end of 2030. The global market is estimated to experience a 6.1% CAGR during the forecast period (2021-2030) owing to the inclination towards automotive weight reduction, asserts Market Research Future (MRFR). High-performance polyamides (HPPA) are referred to as engineered thermoplastic materials that exhibit high chemical resistance, excellent strength, and high dielectric strength. Raw materials used for manufacturing such high-performance polyamide are caprolactam and adipic acid. High-performance polyamides are both petroleum-based and bio-based depending upon the source used for manufacturing process.
Drivers and Constraints Impacting the Market
With the inclination towards automotive weight reduction, the global high-performance polyamide market is anticipated to prosper. Augmenting demand from the consumer goods industry in cosmetics, sportswear, and personal care products, the market for global high-performance polyamide is anticipated to flourish. Moreover, the excellent tear resistance and flex fatigue provided by the product is triggering the demand in electrical & electronics industry across the globe. With changing lifestyles coupled with high disposable income levels of consumers, the market is presumed to foster growth during the assessment period.
Moreover, the growing shifting trends of the consumers and manufacturers towards bio-based products are considered to offer substantial opportunities to the growth of the market in the coming years. With the escalating demand for high performance polyamides in the pharmaceuticals industry owing to its exceptional properties like rigidity, high chemical resistance, high temperature resistance, impact resistance, lightweight, impermeability, and high tensile strength, the market is considered to propel. Additionally, the automotive industry is experiencing increased demand for HPPA due to increasing lightweight vehicles owing to the rapid shift towards lighter non-metal components. Also, the demand for specialty polyamides is augmented by the development of unconventional oil & gas technologies.
On the flip side, strict mandates imposed on the use of synthetic polyamides that might prove hazardous to the environment as well as on the human health is predicted to pose a threat on the market growth across the globe. Moreover, difficulty in processing of high-performance polyamide and high cost of HPPA compared to other conventional polymers are likely to dampen the market growth. Also, high threat of substitution from hybrid polymers and composites are anticipated to impede the market growth in the coming years.
Global High-Performance Polyamide Market: Segmental Analysis
The global high-performance polyamide market has been segmented on the basis of application, type, and region.
By mode of type, the high-performance polyamide market has been segmented into polyamide 10, polyamide 11, polyamide 12, polyamide 6T, and others. Among these, polyamide 12 segment is considered to account for 33.50% of the market share in the overall polyamide sales revenue.
By mode of application, the high-performance polyamide market has been segmented into consumer goods, transportation, industrial coatings, oil & gas, electrical & electronics, and other industrial applications. Among these, the transportation sector is considered to account for the largest market share owing to the increased use of HPPAs in the manufacturing of induction systems, fuel systems, engine components, and coolant systems.
Regional Insights
Geographically, the high-performance polyamide market span across regions namely, North America, Europe, Asia Pacific, and the Middle East & Africa.
Among all the regions, Asia Pacific has been considered to emerge as the leading high-performance polyamide market owing to the escalating demand for lightweight and efficient automobiles. Owing to the cheap labor, high density of population, and outsourced production activities, the production of HPPA is steady in this region.
Europe is considered to demonstrate the second largest regional market and holds 27% of the total market share owing to the presence of major countries such as Germany, France, Spain, Italy, and the United Kingdom (UK).
North America is considered to exhibit a significant growth rate owing to heavy industrialization. The sports and cosmetics industries are considered big industries in the U.S.A. owing to several sports gear and cosmetics brand makers that demand high-performance polyamide for several purposes.
Access Full Report Summary: https://www.marketresearchfuture.com/reports/high-performance-polyamide-market-4460
Competitive Dashboard
The prominent players operating the global high-performance polyamide market are NILIT (Israel), Investa (Kansas), Hyundai EP Co. Ltd. (South Korea), Laxness (Japan), Arkema S.A. (France), Shenma Industrial Co. Ltd. (China), UBE Industries (Japan), DOMO (Italy), Radici Group SpA (Italy), Asahi Kasei (Japan), Evonik Industries AG (Germany), Dupont (U.S.), DSM (Netherlands), Toray Industries Inc. (Japan), Kolon Plastic Inc. (South Korea), Solvay (Belgium), EMS Chemie Holding AG (Switzerland), Ascend (Texas), and BASF SE (Germany).
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