Polyamide Market is projected to reach USD 46.34 Billion by 2030 : Cognitive Market Research

Market Overview:
• What is Polyamide?
Polyamide (PA) is a popular thermoplastic containing an amide linkage in the polymer backbone. Polyamides include proteins and peptides, which are naturally occurring polymers composed of amino-acid repeating units. Polyamides are categorized into several types based on the arrangement and chemical composition of the monomers. Aromatic, cycloaliphatic, and aliphatic polyamides are major forms of polyamides.

Summary:
- The Polyamide Market will grow from USD 26.77 Billion in 2022 to USD 46.34 Billion by 2030, at a CAGR of 7.1% during the forecast period of 2023-2030.

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Market Dynamics:
• Growing vehicle production drives the market growth
PA66, or polyamide 6.6, is regarded as the "black gold" of the automobile industry. It is also known as nylon and has excellent water and heat resistance qualities (-33° to +120° Celsius!). As a result, it has become a key element of the automobile industry's production material. Air intake manifolds in automobiles were formerly composed of metal, but are now often built of 30-35% glass-reinforced PA 66. Similarly, PA 6,6 has made its way into vehicle cooling systems, allowing for the consolidation of numerous components formerly made of aluminum and plastics. PA 6,6 is also utilized in the bezels of headlamps. PA66's mechanical qualities (stiffness, creep resistance, and so on) contribute to improved vehicle safety and comfort. As a result of increased vehicle manufacturing, there is a considerable need for PA66.
• Challenges of the Polyamide Market
Fluctuations in the prices of raw materials can hamper the growth of the polyamide market. The variety of intermediates used in the synthesis of polyamides includes caprolactam, hydroxylammonium sulfate, AH-salt, hexamethylene diamine, and adipic acid. However, increasing prices due to the shortage of these raw materials has set a challenge for manufacturers. This factor can hamper the growth of the market.
• Upsurge in the demand for nylon 66 will boost the market growth
Nylon 6,6 has a strong tensile strength and shrinks in steam just half as much as other materials. It is also extremely resistant to photodegradation. Nylon 6,6 has an advantage over industrial goods in that it minimizes moisture sensitivity while still having a high dimensional stability and melting point. As a result, there is a strong demand for nylon 66 across a variety of sectors. It is employed in textile fibers, carpet fibers, and molded components. It is used in airbags, clothes, and carpet fibers. Nylon 66 is also used in the creation of 3D structural items, primarily injection molding.

Polyamide Market Segmentation:
Type
Based on type, the Polyamide 6 segment dominates the polyamide market with more than 49% share. Polyamide 6 (PA6) is a semi-crystalline thermoplastic with high strength, superior chemical resistance, and great wear/abrasion resistance that is utilized in numerous technical applications. As a result, it became popular for applications such as gears, cams, rollers, bearings, nuts and bolts, power tool housings, electrical connections, combs, coil formers, automotive fuel tanks and cooking utensils.
• Polyamide 6
• Polyamide 66
• Bio-based Polyamide
• Specialty Polyamides

Application
Based on application, the engineering plastics segment dominates the polyamide market with approximately 56% revenue share. Engineering plastics are widely used in a variety of applications, including automotive, electrical, and hardware, construction and development, buyer merchandise and equipment, and mechanical applications, including safety indicators and erosion barriers.
• Engineering Plastics
• Fibers

The Major Players in Polyamide Market are:
Invista, Ascend, Solvay, BASF, Asahi Kasei, Dupont, Radici Group, Shenma, Hua Yang, Evonik, Arkema, EMS Grivory, UBE Industries, Royal DSM, Lanxess

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Regional Analysis:
• North America dominates the Polyamide Market
The Global Polyamide Market is geographically divided into regions like North America, Europe, Asia Pacific, Latin America, and Middle-east Countries. North America dominates the market. This is owing to the rising production of nylon. In 2019, the United States produced 600,000 metric tonnes whereas the number was 595,000 metric tons in 2017.
Asia Pacific is growing at a high CAGR in the polyamide market which is attributed to the rising demand for polyamide from various industries. The increasing population and disposable income of the countries such as China, South Korea, Singapore, Hong Kong, Taiwan, India, Indonesia, and Malaysia are inclining toward the industrial revolution. This expected the increasing demand for polyamide from food & beverages, robotics, textile, automotive, electronics, medical, and many other industries.

Polyamide Market Recent News
- In February 2022, as part of its acquisition of Solvay's PA66 business, BASF will begin marketing a number of polyamides (PA) and polyphthalamide (PPA) grades in Europe. These technical polymers, formerly known as Technyl, will be offered by BASF under the well-known brand name Ultramid. Customers worldwide will benefit from a diverse plastic offering that includes both PA66 grades as well as Ultramid One J, a PPA based on PA66/6T. BASF received conditional clearance from the European Commission to acquire Solvay's polyamide division. As a result, BASF began effectively selling integrated engineering plastics in emerging areas such as Asia, and North & South America.

Browse here for Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Polyamide Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Polyamide Market Segmentation
1.5.1 Polyamide Market Regional Fragmentation
1.5.1 Polyamide Market Players
• 1.6 Report Duration
• 1.7 List of Stakeholders
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Polyamide Market
Chapter 4 Global Polyamide Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Polyamide Market by Type Segmentation Analysis (2018-2030)
Chapter 10 Global Polyamide Market by Application Segmentation Analysis (2018-2030)
Chapter 11 Global Polyamide Market Regional Analysis
Chapter 12 North America Polyamide Market Outlook (2018 - 2030)
Chapter 13 Europe Polyamide Market Outlook (2018 - 2030)
Chapter 14 Asia Pacific Polyamide Market Outlook (2018 - 2030)
Chapter 15 Latin America Polyamide Market Outlook (2018 - 2030)
Chapter 16 Middle East and Africa Polyamide Market Outlook (2018 - 2030)
Chapter 17 Research Findings
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