Polyamide Market Size | Incredible Possibilities and Growth Analysis and Forecast 2021 to 2028

"Allied Market Research recently released a report titled 'Polyamide Market,' providing insights into the industry's current state and future projections. In 2020, the global polyamide market generated $26.7 billion, with an expected growth to $40.6 billion by 2028, showing a 5.4% CAGR from 2021 to 2028.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞: https://www.alliedmarketresearch.com/request-sample/11837

𝐊𝐞𝐲 𝐆𝐫𝐨𝐰𝐭𝐡 𝐅𝐚𝐜𝐭𝐨𝐫𝐬:

The surge in demand for PA-6 in the electrical and electronics sector, coupled with the increased need for electric vehicles, is driving market growth. Despite challenges like fluctuating crude prices, favorable government policies for electric vehicles are creating new opportunities.

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭:

The pandemic adversely affected the polyamide market due to disruptions in major end-use industries and global supply chain interruptions. Lockdowns and logistical difficulties further hindered market growth.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

Polyamide fibers & films dominated the market in 2020, holding over half of the global share, mainly due to their extensive use in carpet manufacturing. The engineering plastics segment is expected to exhibit the highest CAGR of 5.9% from 2021 to 2028, driven by the automotive industry's reliance on polyamide for manufacturing various components.

𝐄𝐧𝐝-𝐮𝐬𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

The automotive segment claimed the largest market share in 2020, contributing nearly one-third to the global polyamide market. Automotive manufacturers are adopting polyamide to reduce system costs and enhance fuel efficiency. The consumer goods segment is projected to have the highest CAGR of 7.4% from 2021 to 2028, driven by its diverse applications in sports items, batteries, artificial jewelry, and more.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐃𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞:

Asia-Pacific, followed by North America, led the market in 2020, accounting for about one-third of the global polyamide market. Asia-Pacific is anticipated to witness the fastest CAGR of 6.8% during the forecast period, driven by increased applications in automotive and food packaging industries.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Leading companies in the polyamide market include Ascend Performance Materials LLC, Arkema SA, BASF SE, Evonik Industries AG, Gujarat State Fertilizers & Chemicals Limited (GSFC), Koch Industries, Lanxess, Mitsubishi Chemical Holdings, Radici Group, and Royal DSM.

𝐅𝐨𝐫 𝐭𝐡𝐨𝐬𝐞 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐚 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭 𝐜𝐚𝐧 𝐛𝐞 𝐩𝐫𝐨𝐜𝐮𝐫𝐞𝐝 @ https://www.alliedmarketresearch.com/polyamide-market-A11472

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