Global Speciality Polyamides Market Outlook
According to a new report by Expert Market Research titled “Global Speciality Polyamides Market Size, Share, Analysis, Report, Demand, Forecast 2023-2028″, the global speciality polyamides market reached a value of approximately USD 2.73 billion in 2022. Aided by the rising need for lightweight materials in the automotive and transportation sectors, the market is projected to further grow at a CAGR of 6.20% between 2023 and 2028 to reach a value of USD 3.9 billion by 2028.
Speciality polyamides are thermoplastic materials that have been specially designed for use in a variety of applications. They are essential in the automotive and electronics industries, along with the use in the production of consumer items and industrial coatings. Speciality polyamides have great mechanical qualities, are heat resistant, and are chemically resistant. The strict environmental safety regulations imposed by various governments across the world are driving the specialty polyamides market growth. The global market is further expanding more quickly since the bulk of these polyamides are made from recyclable and natural resources.
The surge in demand for lightweight and energy-efficient materials in the automotive industry has resulted in increased usage of speciality polyamides globally. Speciality polyamides are renowned for their distinctive qualities, including their superior heat resistance, high strength-to-weight ratio, and strong electrical insulating capabilities. As a result, the market for specialty polyamides has expanded as a result of the expanding pool of consumers looking for high-performance materials for a variety of applications.
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Asia Pacific is one of the largest regions in the global speciality polyamides market, owing to the increasing demand from countries like India, Japan, and China. Consumers in the region are increasingly adopting products that incorporate speciality polyamides, which are known for their advanced performance characteristics. The availability of trained workforce and low-cost raw materials, as well as a rise in consumption capacity, are the main drivers influencing market expansion in this region. Additionally, additional international specialised polyamide producers are strengthening manufacturing and distribution capacities in the Asia Pacific due to favourable policies of regional governments and a sizeable untapped market.
Innovations in material science and technological improvements in the creation of speciality polyamides are resulting in better manufacturing processes and higher-quality products. These developments enable improved performance, decreased waste, and resource utilisation that is more effective. Additionally, there is a greater need for speciality polyamides made from bio-based resources due to the growing interest in recyclable and ecological materials. This trend towards environmentally friendly materials has given producers of speciality polyamides a new source of income, and it is anticipated to accelerate the speciality polyamides market expansion.
Speciality Polyamides Market Segmentation
The market can be divided based on industry vertical and region.
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Market Breakup by Industry Vertical
- Automobile
- Consumer Goods
- Industrial Coatings
- Electronics
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global specialty polyamides companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Evonik Industries AG
- Arkema S.A.
- BASF SE
- DuPont de Nemours, Inc.
- Koninklijke DSM N.V.
- Asahi Kasei Corporation
- LG Chem Ltd.
- INVISTA
- Solvay
- Radici Partecipazioni SpA
- EMS-Chemie Holding AG
- UBE Corporation
- Kuraray Co., Ltd
- Mitsubishi Gas Chemical Company, INC.
- Toyobo CO., LTD.
- Others
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