Long-chain Polyamide Market Industry Size, A Well-Defined Technological Growth Map with An Covid-19 Impact-Analysis Forecasts to 2030
Market Highlights
Long-chain Polyamide Market is expected to surpass the market value of over USD 2969.34 million by the year 2027 while registering a CAGR of 5.38% during the forecast period (2021-2027).Long-chain polyamides are polymers with repeating units linked together by amide bonds. These polymers exhibit excellent chemical resistance and dimensional stability and are widely used in the production of various automotive and industrial components.
Long-chain polyamides can withstand extremely high temperature and pneumatic pressure, thus driving their adoption in various automtotive components such as fuel lines, coolant hoses, and transmission oil & clutch fluid ducts. Additionally, the growing trend towards the production of lightweight, fuel-efficient vehicles is projected to further boost themarket growth in the upcoming period. Long-chain polyamides are progressively replacing metal in the production of various automotive components on account of their comparable strength, performance, durability,and relatively lighter weight. However, the growing adoption of electric vehicles is anticipated to have an adverse impact on the product demand over the forecast period.
Long-chain polyamide polymers demonstrate superior flexibility, high strength, and the ability to withstand high temperatures than traditional plastic materials such as polyvinylchloride (PVC). Thus they are progressively being adopted as a superior alternative to traditional plastics in the electrical and electronics industry. Additionally, widescale adoption of long-chain polyamides for producing housing for various consumer and personal eletcronics devices is expected to have a positive impact on the market growth in the upcoming period
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Segment Analysis
The global long-chain polyamide market is segmented based on type, end-use industry by application, and region.
The global long-chain polyamide market based on type has been categorized into PA11, PA12, PA610, PA612, and Others. Each by type segment is further divided into endues industries, namely industrial, electrical & electronics, and automotive. Widespread adoption in various types of automotive components led the PA12 long-chain polyamide to emerge as the largesttype segmentin the global long-chain polyamide market in 2019. Moreover, PA12 is synthesized from bio-based raw materials such as castor oil. Thus, the growing trend toward the adoption of environmentally sustainableproducts is expected to provide a major boost to the segment growth over the forecast period.
Based on the end-use industry, the global long-chain polyamide market has been divided into automotive, electrical & electronics, industrial, and others. The automotive segment is further categorized into brake tubes, fuel lines, cluster tubes, electrical systems, and others. The electrical & electronics segment is subdivided into plug-in connectors, switchboards & housing, connection boxes, cable ducts, and others. The industrial segment is further fragmented into rollers, pulleys, conveyor systems, hoses & tubes, hoses & tubes connectors, filaments, and others.The automotivesegment accounted for nearly 37.10% of the overall market revenue in 2020. Wide range adoption of long-chain polyamides in the production of various automotive components such asfuel lines and transmission oil & clutch fluid ductswas the main factor responsible for segment growth.
Key Findings of the Study:
The global long-chain polyamidemarket was valued at USD 2,070.39 in 2019 and is expected to reach USD 2,969.34millionby 2027,with a CAGR of around 5.38%during the forecast period from 2020 to 2027.
The Asia-Pacific region led the global long-chain polyamide market in 2019 and is expected to register a CAGR of 6.04% over the forecast period. Burgeoning demand for passenger cars and light commercial vehicles is anticipated to provide a major boost to regional product demand.
Numerous research activities are being conducted to explore the widescale production of long-chain polyamides from bio-based raw materials. Castor oil is one of the prominent examples of bio-based raw materialsfor the production oflong-chain polyamides. However, lower yields and labor-intensive production processes are major factors limiting the widescale adoptionof castor oil in the long-chain polyamides production process.
Major companies aremaking significant investments in improving the functional properties of long-chain polyamides and developing newer application areas. For instance, in February 2019, Evonik Industries launched a new polyamide powder for 3D printing applications in a higher temperature range. This product features high mechanical strength as well as excellent chemical and temperature resistance for use in the fast-growing 3D printing market.
In November 2020, Sculpteo, a fully owned subsidiary of BASF SE announced the lauch of four new bio-sourced 3D printing materials based on Nylon PA11.The new materials, namely Ultrasint PA11, Ultrasint PA11 ESD, Ultrasint PA11 CF, and PA11 MJF are derived from renewable castor oil and exhibit high chemical resistance, elongation, and durability properties.
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