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Polyamides and Intermediates Market Report on the Untapped Growth Opportunities in the Industry
According to the latest research by InsightAce Analytic, the Global Polyamides and Intermediates Market Size is valued at USD 29.1 Bn in 2024 and is predicted to reach USD 50 Bn by the year 2034 at a 5.7% CAGR during the forecast period for 2025-2034.
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Polyamides are a class of high-performance thermoplastics known for their ability to withstand high temperatures and resist corrosive environments. Their non-adhesive surface and low friction coefficient make them well-suited for a range of applications across industries such as aerospace, electronics, automotive, and telecommunications. Recognized for their superior durability, electrical resistance, tensile strength, and abrasion resistance, polyamides are also widely utilized in the textile sector, consumer goods, and household electrical appliances.
In the automotive industry, the growing emphasis on lightweight materials to improve fuel efficiency and design flexibility is a key factor driving the demand for polyamides. The rising adoption of bio-based polyamides, due to their environmentally friendly profile, is further contributing to market expansion. These materials are increasingly being used to replace metal components, such as nuts and bolts, with polyamide-based intermediates to reduce overall vehicle weight.
List of Prominent Players in the Polyamides and Intermediates Market:
• BASF SE
• DuPont
• DSM
• Lanxess
• Solvay
• Kraton Corporation
• Genomatica, Inc.
• Akzo Nobel N.V.
• Bayer AG
• Eastman Chemical Company
• Arkema
• Mitsui Chemicals, Inc
• Toray Industries Inc
• Kolon Plastic Inc
• DOMO Chemicals
• Teijin,
• PolyOne,
• RTP company,
• Koch industries,
• Radici Group,
• DSM,
• Kuraray
Market Dynamics:
Drivers-
The rising demand from the automotive industry serves as a primary catalyst for the global polyamide market. As raw material costs in the automotive sector continue to escalate, manufacturers are increasingly turning to polyamides for applications such as coatings and films. Additionally, growing health awareness and supportive government regulations-particularly in emerging economies-are expected to accelerate the adoption of bio-based polyamides.
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Challenges:
Supply chain disruptions, particularly in the petrochemical sector, have posed significant challenges across industries. After a strong performance in the fourth quarter of 2020, demand for polyamide 6 remained exceptionally high during the first half of 2021. However, production halts during the early phases of the COVID-19 pandemic led to widespread operational cutbacks and temporary shutdowns. These disruptions triggered a destocking trend, and as economic activity resumed in the third quarter, inventory levels remained low.
Regional Trends:
The Asia-Pacific region is the largest consumer of polyamide resins and is projected to witness the fastest growth during the forecast period. China and Japan lead the regional market in terms of revenue share, driven by robust industrial and automotive demand.
Notably, China continues to see increasing automobile demand, supported by reduced tariffs on vehicle purchases amidst the global semiconductor shortage. For example, China's vehicle production rose to 46 million units in 2022, up from 44 million units the previous year.
Recent Developments:
• In Jan 2020, Solvay's Performance Polyamides Business in Europe has been bought by DOMO Chemicals. The business had about 1,100 workers in France, Spain, Poland, Germany, and Italy who worked in Production, Sales, Technical Support, Research and Development, and Innovation. A joint company between BASF and DOMO in France to make Adipic Acid was also part of the deal.
• In Jan 2019, The EU Commission gave Solvay permission to sell its Polyamides business to BASF. After all of the remaining closing conditions had been met, the deal was expected to close in the second half of 2019. The European Commission was worried about competition, so one of these conditions was to sell a package of fixes to a third party. BASF offered solutions that used some of the assets that were originally part of the purchase.
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Segmentation of Polyamides and Intermediates Market-
By Product Type
• PA 66 (Nylon 66)
• PA 6 (Nylon 6)
• PA12 (Nylon 12)
• Others
By Distribution Channel
• Online Market
• Offline Retailer
By Application
• Tires
• Musical Strings
• Bags
• Conveyor Belts
• Others
By End-Use
• Automotive
• Textile
• Aerospace
• Electrical & Electronics
• Healthcare
• Sports & Leisure
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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