According to the latest report by IMARC Group, titled "Polyamide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global polyamide market reached a value of US$ 31.8 Billion in 2022. A polyamide refers to a polymer that is composed of multiple-unit molecules that are linked together by amide groups. It is formed by the polymerization of amino acids that is generally found artificially in both aramids and nylons and originate naturally in silk and wool materials. Due to its crystalline structure, it exhibits excellent resistance to electricity, chemicals and temperatures while being characterized by superior barrier and mechanical properties. The demand for polyamide is increasing across the globe due to the rising product adoption as a preferred alternative for metals to be widely used in the production of several medical devices.
Global Polyamide Market Trends:
The global market is primarily driven by the increasing product demand from the automotive industry. Moreover, the rising product utilization in the manufacturing of lightweight vehicles due to the growing environmental concerns among the masses is creating a positive market outlook. Apart from this, polyamide is widely used for the production of industrial valves, electrical connectors and packaging films, thereby providing a thrust to the market growth. Apart from this, the augmenting product adoption in the manufacturing of casings used in laptops, televisions and smartphones is impacting the market favorably. Along with this, the widespread utilization of carpets in residential and commercial spaces is significantly supporting the demand for polyamide across the globe. Other factors, including rapid industrialization, continual technological advancements in the production processes and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 45.7 Billion by 2028, exhibiting a CAGR of 6% during 2023-2028.
- Based on the type, the market has been bifurcated into aliphatic and aromatic polyamides.
- On the basis of the application, the market has been segregated into polyamide fibers and film and engineering plastics.
- Based on the end-use industry, the market has been segmented into automotive, electrical and electronics, textile, construction, packaging, consumer goods and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Arkema S.A., Asahi Kasei Corporation, BASF SE, DuPont de Nemours Inc., Evonik Industries AG, Gujarat State Fertilizers & Chemicals Limited (GSFC), Huntsman International LLC, Koch Industries Inc., Koninklijke DSM N.V., Lanxess AG, Mitsubishi Chemical Corporation, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Solvay S.A. and Toray Industries Inc.
|Base Year of the Analysis
||Type, Application, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Arkema S.A., Asahi Kasei Corporation, BASF SE, DuPont de Nemours Inc., Evonik Industries AG, Gujarat State Fertilizers & Chemicals Limited (GSFC), Huntsman International LLC, Koch Industries Inc., Koninklijke DSM N.V., Lanxess AG, Mitsubishi Chemical Corporation, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Solvay S.A. and Toray Industries Inc.
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