Bio Polyamides Market Analysis 2018 to 2023: Key Players - Royal DSM NV, DowDuPont Inc., BASF SE, EMS-GRIVORY, Solvay S.ADomo Chemicals, Evonik Industries

Market Overview:

Global Bio Polyamides Market was valued at USD 171.01 million in 2016 and is predicted to grow at 3.51% CAGR to reach USD 216.22 million by the end of 2023. Bio-polyamides consumption has gained momentum due to its versatile nature and stringent regulations on excess consumption of synthetic polyamides.

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Bio-Polyamides are biodegradable amides polymer synthesized using renewable raw materials. These are majorly produced using castor oil as a raw material. Bio-Polyamides are inexpensive and commercially referred as nylon (bio-based), which exhibit versatile properties such as recyclability, renewability, light weight, and non-abrasiveness. These Superior properties made them popular for several applications in various end use industries including automotive, textile, electronics & electrical, consumer goods, industrial, and others.

As per the MRFR analysis, the Global Bio-Polyamides Market has been experiencing progressive growth over the past few years. Consumer shifting their preference towards bio based products along with augmented research and development activities is the major trend of this market. Burgeoning automotive industry, growing adoption of Bio-Polyamides in the major end use industries and versatile nature & superior properties associated with Bio Polyamides drive the growth of this market. Additionally, stringent regulations set by the government on the excess consumption of synthetic polyamides add fuels to the market growth. However, price fluctuations in the raw material has been consistently challenging market growth over the past few years.

Regional Analysis:

The Global Bio-Polyamides Market is segmented into five regions namely;

• North America,
• Europe,
• Asia Pacific,
• Latin America,
• Middle East & Africa.

Among all the regions, Asia Pacific was the largest market for Bio Polyamides followed by North America and Europe region. As of 2016, the region accounted for 44% of the global market share and it is likely to reach USD 96.39 million by 2023 growing at CAGR of 3.70%.
North America is the second largest market closely followed by Europe, which is another growth attracting market. The region registered the second largest automotive production after China by complimenting regional growth. Whereas, European regulations pertaining to CO2 emission and green initiatives expected to offer lucrative growth prospects in the coming years.

Segmentation:

The Bio-Polyamides Market is fragmented on the basis of type, application, end use, and region.

On the basis of type, the market is classified into PA 6, PA 6, 6, and specialty polyamides.

On the basis of application, the market is divided into detergent engineering plastic and fiber. The engineering plastic segment is emerged as the leader by accounting for 58.25% and it is expected to grow at a CAGR of 3.48% during the review period.

On the basis of end use, the market is segmented into automotive, textile, electrical & electronics, consumer goods, industrial, films & coatings, and others.

On the basis of region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Global Competitors:

Some of the key players operating in the Global Bio-Polyamides Market are; Arkema Group, Evonik Industries, DowDuPont Inc., BASF SE, EMS-GRIVORY, Solvay S.A., Royal DSM NV, Domo Chemicals, Radici Group, and Toray Industries Inc.

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