Polyamide Market worth $55.7 billion by 2028 | Key players BASF SE (Germany), Celanese Corporation (US), Arkema (US), Asahi Kasei Corporation (Japan), Evonik Industries AG (Germany).

According to recent market research the "Polyamide Market by Type (Polyamide 6, Polyamide 66, Bio-Based & Specialty polyamide), Application (Engineering Plastics, Fiber), and Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Global Forecast to 2028", is projected to grow from USD 43.8 billion in 2023 to USD 55.7 billion by 2028, at a CAGR of 4.9% from 2023 to 2028. Growing demand for lightweight materials in the automotive industry to provide increased efficiency and design flexibility has paved its way for the growth of polyamide market. Furthermore, bio-based & specialty polyamides are gaining demand in the market owing to their eco-friendly nature.

Browse 274 market data Tables and 44 Figures spread through 242 Pages and in-depth TOC on "Polyamide Market - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/global-nylon-market-930.html

In terms of value, the bio-based & specialty polyamide segment, by product, is projected to be the fastest growing segment during the forecast period. It is made from renewable sources like castor oil or plants and offer sustainability without compromising key properties. Bio-nylon caters to various industries, including automotive, textiles, and packaging, while reducing emissions and fossil fuel dependence and aligning with the circular economy. These properties of bio-based polyamides which contribute to a circular economy are expected to boost the overall polyamide market.

By application, the engineering plastics segment is projected to be the fastest-growing segment of the global polyamide market during the forecast period in terms of volume. They offer exceptional mechanical strength, thermal stability, and chemical resistance. These versatile plastics are crucial in automotive, aerospace, electronics, and consumer goods industries for producing durable, high-performance components and products which propel the overall polyamide market expansion.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=930

By region, Middle East & Africa is estimated to account for the fastest-growing region of polyamide market from 2023 to 2028. The automotive, power, manufacturing sectors, and infrastructural developments are the key drivers for engineering plastics such as polyamide in Middle East & Africa. UAE and Saudi Arabia are the major markets in the region. These are supported by rising income and increased demand for electronics products which boost the polyamide demand in the region.

The major players operating in the polyamide market include BASF SE (Germany), Celanese Corporation (US), Arkema (US), Asahi Kasei Corporation (Japan), Evonik Industries AG (Germany), Kuraray Co., Ltd. (Japan), Toray Industries, Inc. (Japan), Envalior (Germany), UBE Corporation (Japan), Formosa Chemicals & Fibre Corp. (Republic of China), SABIC (Saudi Arabia), Advansix (US), DuPont de Nemours, Inc. (US), Huntsman International LLC (US), EMS Grivory (Switzerland), DOMO Chemicals (Belgium), Ascend Performance Materials (US), Mitsubishi Chemical Advanced Materials (Switzerland), Invista (US), and RadiciGroup (Italy), and others.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=930

In terms of market activities, expansions were the most preferred development strategy by the players to increase their product portfolio, market share, and geographic reach. Many expansions by the key players were seen in 2011, followed by new product launches in 2012.

In 2012, Arkema strengthened its position in the polyamide market by the acquisition of two Chinese companies: Casda, the world leader in sebacic acid derived from castor oil, and Hipro Polymers, which produces polyamides 10 from sebacic acid. The geographical re-balancing of Arkema's activities has resulted in a proportional increase of the polyamide industry in the Asia-Pacific market.

BASF is also engaged in manufacturing quality compounding plant for engineering plastics Ultramid (polyamide) compounds in Yesan, Chung Nam Province, Korea. Th construction of this new plant is expected to begin by the first half of 2014 and will cater the end-user industry demand by the end of 2015. The company is acknowledged by different end-user companies and associations for their innovative product designs.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/global-nylon.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/polyamide.asp

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.