The global bio-polyamide market reached a value of US$ 151 Million in 2019. Bio-polymides are a new class of bioplastics that are derived from renewable resources such as natural fats and oils. These materials are environment friendly and are used in many (demanding) applications such as automotive fuel lines, pneumatic air brake tubing, electrical cable jacketing, flexible oil and gas pipes, and powder coatings. Some novel applications include tooth brushes, carpets, tires, sporting goods (sports shoes and outdoor apparel), and electronic casings.
The global demand of bio-polyamides is currently exhibiting double-digit growth. A major driver is the fact that bio-polyamides have a unique property of low friction which proves to be favourable for many automotive products such as gears, bushings, and plastic bearings. A wide use of bio-polyamide has been noticed in the manufacturing of consumer goods such as toys, electronic goods and functions requiring high temperatures etc. The applications which possess a potential of high wear and tear can be enhanced by using bio-polyamide materials. Moreover, bio-polyamides also exhibit a superior environment profile as they are synthesised by combining renewable or bio-based raw materials such as castor oil and result in reduced greenhouse emission. Other factors driving the demand of bio-polyamides include excellent mechanical and thermal performance, strong chemical resistance, low moisture absorption, etc. Looking forward, the market value is projected to reach US$ 295 Million by 2025, expanding at a CAGR of 11.8% during 2020-2025.
Market Breakup by Product Type:
Based on the product type, the market has been segmented as PA-6, PA-66 and others. PA-6 currently represents the biggest segment.
Market Breakup by Application:
Based on the application, the market has been segmented as industrial plastics and fibers. Industrial plastics currently represents the biggest segment.
Market Breakup by End-Use:
Based on the end-use, the market has been segmented into automotive, textiles and sports, industrial goods, films and coatings, electrical and electronics, and others. The automotive sector currently represents the biggest segment.
Region-wise, the market has been segmented into Europe, North America, Asia Pacific, Middle East and Africa and Latin America. Amongst these, Asia Pacific is the biggest market, accounting for the majority of the global market.
The competitive landscape of the market has also been examined with some of the key players being Arkema, Asahi Kasei, BASF, DSM, Evonik Industries, Domo Chemicals, Lanxess, SABIC, Solvay and Simona.
This report provides a deep insight into the global bio-polyamide market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the bio-polyamide industry in any manner.
The global bio-polyamide market was worth around US$ 151 Million in 2019.
According to the estimates by IMARC Group, the global bio-polyamide market will exhibit strong growth during the next five years.
The spread of the coronavirus disease (COVID-19) and consequent lockdowns imposed by governments of several countries have temporarily halted operations of major end use industries of bio-polyamide. Consequently, the market is experiencing a decline.
The burgeoning automotive industry, in confluence with the escalating demand for electronic goods, represents one of the major factors bolstering the global bio-polyamide market growth.
Bio-polyamides are employed in the automotive industry across the globe. Due to stringent regulations implemented by governments of numerous countries to reduce greenhouse gas (GHG) emissions, automobile manufacturers are manufacturing lightweight vehicles, which represents one of the significant trends in the market.
On the basis of the product type, the market has been classified into PA-6, PA-66 and others.
The market has been bifurcated on the basis of the application into industrial plastics and fibers.
Based on the end use, the market has been categorized into automotive, textiles and sports, industrial goods, films and coatings, electrical and electronics, and other segments.
On the geographical front, the market has been segmented into Europe, North America, Asia Pacific, Latin America, and Middle East and Africa.
Leading industry players are Arkema Group, Asahi Kasei Corporation, BASF SE, Koninklijke DSM N.V., Evonik Industries AG, DOMO Chemicals GmbH, LANXESS AG, SABIC, Solvay Group and SIMONA AG.
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