Polyamide Market Quantitative and Qualitative Analysis 2022

The global polyamide market size was valued at USD 35.1 in 2021 and is poised to grow at a significant CAGR of 6.4% during the forecast period 2022-28. Wool and silk contain polyamides naturally, while nylon, polyamide 6, and aramid, among other synthetic materials, also include polyamides. Artificial polyamides have properties including wear resistance, strong mechanical capabilities, low gas permeability, and chemical resistance. Because they are eco-friendly, bio-based polyamides are becoming more and more popular. The growing market for polyamide is driven by the rising need for lightweight cars. It is projected that increased passenger car sales, particularly in developing countries, will increase demand for polyamides in automotive applications. With the rise in demand for lead-free soldering in the electronics manufacturing industry, this polymer, which has a high degree of thermal resistance, is expected to become more popular. As a shielding material, it is frequently utilized in electronic interconnections, conveyor systems, and trays. This trend is expected to be positively impacted by the rise of the electrical and electronics industries, which will also boost the global market growth. On the other hand, it is anticipated that in the regions of Europe and North America, government regulations would act as a barrier to market expansion.

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Polyamide Market Growth Factors:
Because there are so many companies in the automobile business, it is a highly concentrated sector with a wide variety of products. Top competitors Ford, GM, VW, and Toyota control 49% of the market. Polyamide is used in a variety of engine components, including bearings, bushings, wire harness connectors, oil containers, cylinder head coverings, and fuse boxes, among others. Growth in the worldwide polyamide market is inversely correlated with growth in the automobile industry. The market will increase in value as a result of factors like increasing socioeconomic trends as well as the development of infrastructure supporting the automobile industry.

The global polyamide market segmentation:
1) By Product: 1-4 Dicyanobutane (Adiponitrile), Hexamethylenediamine (HMD)
2) By Type: Polyamide Fibers & Films, Engineering Plastics.
3) End User: Automotive, Electrical & Electronics, Textile, Construction, Packaging, Consumer Goods, Others.

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Polyamide Market Regional Analysis:
In 2022, the market in Asia-Pacific was worth USD 13,645 million, and by 2030, it is anticipated to be worth USD 18,155 million, growing at a CAGR of 3.9%. The expansion of the region will be facilitated by elements like the simple accessibility of raw materials and lower labour prices. The market value of the worldwide polyamide market will also increase with the incorporation of creating a smarter MCB with thinner walls along with growing concerns regarding the size and carbon footprint of electrical equipment.

Major players working in the Polyamide Market are BASF SE (Germany), Evonik Industries AG (Germany), Lanxess (Germany), Arkema (France), DuPont (US), EMS-CHEMIE HOLDING AG (Switzerland), Mitsui Chemicals, Inc (Japan), Toray Industries Inc (Japan), KOLON PLASTIC INC (South Korea)

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