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Report Overview: High Performance Polyamides MarketThe global high performance polyamides market size was valued at USD 1.57 billion in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 7.0% from 2021 to 2027. Increasing polyamides consumption in the manufacturing of pipes, insulation materials, industrial brushes, and others, which are used in various end-use industries, including building and construction, automotive, and electrical and electronics, is projected to support the market growth over the forecast period 2021-2027. Amid the global COVID-19 pandemic situation, the demand for various medical and healthcare products, such as temperature guns, pharmaceutical packaging, and others has increased. This, in turn, is driving the demand for high-performance polyamide in the medical and healthcare end-use industry segment. However, the electrical and electronics end-use segment is expected to grow at a higher rate than medical and healthcare and building and construction end-use industry segments. The growth of the construction industry in North America and Asia Pacific regional markets, such as Brazil, China, India, the U.S., and Mexico, is expected to generate the demand for high-performance polyamides, such as pipes, liners, and insulations, over the forecast period. The growth of the market can be attributed to increased foreign investment in these countries’ construction markets as a result of easing FDI norms and requirements for redevelopment of public and industrial infrastructure. Growing demand for pharmaceuticals and pharmaceutical packaging products in order to tackle the COVID-19 pandemic situation is also driving the demand for durable products, which will propel the high performance polyamides market growth over the forecast period. Type Insights The polyamide 12 (PA 12) type segment led the market and accounted for more than 20.0% share of the global revenue in 2019. This significant share is attributed to its properties such as excellent mechanical properties, such as tensile strength, rigidity, toughness, and surface hardness. Polyamide 12 (PA 12) is primarily used to produce trailer brake hoses, fuel lines, football shoe soles, water pipes, air and spray-painting hoses, and others. The ability of the material to provide moisture barrier is driving the demand over the forecast period. The polyamide 6T (PA 6T) type segment is widely used in the manufacturing of tough and puncture-resistant blister packs for the medical and healthcare end-use industry, which is increasingly used in the COVID-19 pandemic situation. The globally rising number of corona positive cases and rising healthcare facility for COVID-19 are driving the demand for pharmaceuticals and other healthcare products. Rising demand for the medical and healthcare products will generate the demand for polyamide 6T (PA 6T) over the forecast period. Polyamide 9T (PA 9T) is expected to expand at a CAGR of 7.4% over the forecast period. Rising demand for polyester can be attributed to the increasing production of textiles, carpets, kitchen utensils, sportswear, and various other products due to its high durability and strength. These products are used in various industries, such as building and construction, automotive, consumer goods, and various others. The rising number of construction and infrastructure development projects is expected to drive the durable and lightweight products and equipment demand, which will boost the segment growth over the forecast period.
End-use Industry Insights: High Performance Polyamides MarketThe automotive end-use industry segment led the market and accounted for more than 35.0% share of the global revenue in 2019. This is attributed to the rising demand for electric vehicles and increasing awareness among the consumers regarding lightweight and efficient vehicles. Increasing utilization of high-performance polyamide in automotive components to produce robust components, particularly in Central & South America and the Asia Pacific, is expected to fuel the segment growth over the forecast period. High-performance polyamides are increasingly being used for manufacturing medical devices and are increasingly gaining popularity as they offer better optical clarity, biocompatibility, and are economical. A number of polyamides including polyamide 11 and polyamide 6T are blended together to achieve desirable properties for use in medical devices. High-performance polyamides have good chemical resistance, good sterilization capability, and are biocompatible. However, a selective number of polyamides qualify as a medical-grade polyamide for application in this segment. There are multiple regulatory frameworks across the globe that decide the grades of plastic, which qualify for the medical and healthcare industry application, after researching on the impact and effect of such polyamides upon contact with body fluids and internal and external tissues. Asia Pacific will witness immense growth in the future owing to the rising medical and healthcare spending in the countries, such as China, India, and Japan. In addition, the presence of various medical and healthcare equipment manufacturers in the region including Shred-Tech Corp., AMB Ecosteryl s.a, LNI Swissgas, Allegra Orthopaedics, LumaSense Technologies, Inc., Admedus Ltd, Auxein Medical, Green Cross, Atlas Surgical, GPC Medical, Avita Medical, JMS Co., Daiwha Corporation Ltd., and JW Medical will propel industry expansion over the forecast period.
Regional Insights: High Performance Polyamides MarketAsia Pacific lead the market and accounted for over 40.0% share of the global revenue in 2019. Asia Pacific medical and healthcare industry is expected to grow on account of rising COVID-19 positive cases, which is expected to generate the demand for medical equipment, containers, test kits, and other products. Additionally, the construction industry is expected to witness considerable growth owing to increasing demand for non-residential construction projects, such as hospitals, schools, and colleges, over the forecast period. This will generate the demand for high-performance polyamides products, such as corrugated pipes, strip terminal blocks, window systems, pipeline liners, cable glands, and various other products, which will propel the market growth. North America ranks second in terms of revenue after the Asia Pacific over the forecast period. The market is driven by the growth of the major end-use industries, such as electrical and electronics, consumer goods, and automotive, on account of electric vehicles. Rising demand for consumer electronic devices and the growth of the construction industry in the U.S., Mexico, and Canada are anticipated to augment market growth in the near future. The market in Europe is expected to witness slow growth compared to North America and the Asia Pacific as the cross-border trade among the economies got affected on account of the COVID-19 pandemic. The market is primarily driven by the rising demand for polyamide 12 (PA 12) and polyamide 46 (PA 46) in the manufacturing of packing material used by the food processing industry, sterilized films, and bags for pharmaceutical and medical and healthcare products.
Key Companies & Market Share Insights: High Performance Polyamides MarketCompanies in the market compete on the basis of product quality offered and technology used for the production of high-performance polyamide. Major players are involved in the expansion of their manufacturing facilities, infrastructural development, investing in research & development facilities, and seeking opportunities to vertically integrate across the value chain. These initiatives help them cater to the increasing global demand, ensure competitive effectiveness, enhance their sales and operations planning, develop innovative products and technologies, bring down their production costs, and expand their customer base. The global market is significantly fragmented in nature owing to the presence of a large number of manufacturers across the globe. Some of the prominent players in the high performance polyamides market include:
Key companies Profiled: High Performance Polyamides Market Report
This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global high performance polyamides market report on the basis of type, end-use industry, and region:
- RTP Company
- KURARAY CO., LTD.
- MITSUI CHEMICALS AMERICA, INC.
- Koninklijke DSM N.V.
- EMS-CHEMIE HOLDING AG
- Evonik Industries AG
- BASF SE
Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Polyamide 6T (PA 6T)
- Polyarylamide (PARA)
- Polyamide 12 (PA 12)
- Polyamide 9T (PA 9T)
- Polyamide 11 (PA 11)
- Polyamide 46 (PA 46)
- Polyphthalamides (PPA)
End-use Industry Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Electrical & Electronics
- Consumer Goods
- Medical & Healthcare
- Building & Construction
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum) 1.3.2. IFF Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualizati | read more...