Global Polyamide Market

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  • Published date: October 22, 2019
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Global Polyamide Market was valued US$ 26.17 Bn in 2017 and expected to reach US$ 37.22 Bn by 2026, at a CAGR 4.5 % during the forecast period. The growth of the global polyamide market is majorly driven by the polyamide 6 and polyamide 66 segments due to their usage in a wide range of products across the various industries. Polyamide used to reduce the weight of the vehicle in the automotive industry, thereby the demand for polyamide from the automotive industry is increasing and it will boost the polyamide market growth globally. Further, it is also used for fast replacing metal parts in the automotive industry due to the ease of mass production and molding. Thus, the high demand for polyamides vehicle parts from the automotive industry propels the growth of the polyamide market. Investments and R&D in Bio-based & specialty polyamides are expected to provide tremendous opportunities for global Polyamide market participants overcoming eight years. Based on the types of polyamide, the Bio-based & specialty polyamides is expected to grow at a significant rate during the forecast period. The Bio-based polyamides are a high-quality alternative to substitute petrol-based materials. The growth factors behind this segment are increasing demand for organic materials globally due to the rise in prices of petrochemical-based raw materials. Bio-based polyamides can be used in automotive, electronics, and sports applications. Further, Synthetic polyamides are generally used in textiles, automotive applications, carpets and sportswear due to their high durability and strength. The automotive industry is the major consumer, accounting for 35% of polyamide (PA) consumption. Based on the application, the engineering plastic segment was held major market shares in the global polyamide market in 2017. The Engineering plastics are used in the automotive industry to make various parts such as speedometer gears, radiator fans, oil filter housing, fuel tank, and many others. Automotive is the largest end-use sub-segment for engineering plastic polyamide, followed by electrical & electronic sub-segments. Emerging economies are gradually investing in sectors such as automotive, infrastructure development, and chemical industries. This is expected to fuel the growth of the global polyamide market in the automobile segment. Geographically, the Asia Pacific region was dominated by the polyamide market in 2017. The reasons behind the growth are increased usage across industries such as automotive, building & construction, consumer goods, electrical & electronics, and textiles. There has been a rise in the demand for polyamide in recent years due to large-scale investments in the automobile sector, where it is widely used. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global Polyamide market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in global polyamide market.

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