The latest report by IMARC Group, titled “Bio-Polyamide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global bio-polyamide market is expected to grow at a CAGR of 10.7% during 2022-2027. Bio-polyamide is a synthesized polymer derived from bio-based or renewable raw materials such as natural fats and oils. It exhibits properties of renewability, recyclability, lightweight, and non-abrasiveness. It is also environmentally friendly and cost-effective, with excellent mechanical and thermal performance, low moisture absorption, and strong chemical resistance. As a result, bio-polyamide find application in automotive fuel line, pneumatic air brake tubing, electrical cable jacketing, powder coatings, and flexible and gas pipes. Nowadays, it is also used to manufacture sporting goods, electronic casings, toothbrushes, and carpets.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Bio-Polyamide Market Trends:
The market is primarily driven by the growing preference for eco-friendly and sustainable solutions across various industries. The significant expansion of the automobile, electrical and electronics, and textile sectors are fueling the growth of the bio-polyamide market. In the automotive industry, bio-polyamide is used to manufacture automotive parts like gears, bushings, and plastic bearings. In addition, the excellent processability, high mechanical strength, and thermal performance of bio-polyamide are also increasing its adoption in high-performance applications including, marine and electronic industries. Besides this, the growing demand for eco-friendly polymers that are synthesized from renewable raw materials and help reduce greenhouse emissions are significantly influencing the market growth. Furthermore, stringent regulations imposed by governments of various countries to control carbon emissions have resulted in the development of lightweight vehicles, thereby creating a positive outlook for the market.
- Based on the product type, the market has been segmented into PA-6, PA-66, and others. Currently, PA-6 represents the most popular product type.
- On the basis of the application, the market has been classified into industrial plastics and fibers. Among these, industrial plastics accounts for the majority of the total market share.
- The market has been categorized based on the end-use into automotive, textiles and sports, industrial goods, films and coatings, electrical and electronics, and others. Currently the automotive sector holds the largest market share.
- Region-wise, the market has been divided into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, Europe exhibits a clear dominance in the global market.
- The competitive landscape of the market has been examined, with some of the key players being Arkema Group, Asahi Kasei Corporation, BASF SE, Koninklijke DSM N.V., Evonik Industries AG, Domo Chemicals GmbH, Lanxess AG, Saudi Basic Industries Corporation (SABIC), Solvay S.A., and Simona AG.
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