Global Polyamide Market By Geography
The Global Polyamide market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
The Asia Pacific accounted for the largest market share in 2022 within the total Global Polyamide Market.
The automotive sector has rapidly expanded in recent years, particularly in the Asia Pacific region. The sector has grown as a result of changing socioeconomic patterns.
Major corporations are moving their developed bases to nations like India, China, and Indonesia due to the availability of cheap labor, beneficial regulations, and government efforts to give attractive FDI legislation.
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Competition Scenario In Global Polyamide Market
The Global Polyamide Market is highly competitive with ~400 players which include globally diversified players, regional players as well as a large number of country-niche players.
Country niche players constitute 60% of the competitors, followed by regional players with 35% of the market presence. Some of the major players in the market include Honeywell International Inc., BASF SE, Evonik Industries AG, DuPont de Nemours Inc., Teijin Limited, LANXESS AG, Invista, Formosa Plastics Group, Koninklijke DSM NV, Domo Chemicals GmbH, Mitsubishi Chemical Holdings, and others.
What Is The Expected Future Outlook For The Overall Global Polyamide Market Across The Globe?
The Global Polyamide market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Polyamide market is driven by increase in demand from the construction and coating industries, growing demand from other end-use industries, and the waterproof characteristics of polyamide. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing acquisition and investments, the Global Polyamide market is changing rapidly. For instance, In October 2022, Evonik Industries AG expanded its sustainable elastomer line with the launch of a new polyamide 12 (PEBA) elastomer made 50% from recycled tires. Vestamid eCO E40 substitutes 50% of its fossil source ingredients with "materials produced via chemical recycling of old tires."
In January 2022, Domo Chemicals, a polyamide industry supplier, expanded the market presence of its TECHNYL branded products and has made the products available to its customers globally. Major applications being served by the brand includes light engineering solutions, high thermal and chemical resistance, flame retardant materials for advanced electrical protection, and high aesthetic materials with add-on solutions for friction & extrusion and wear resistance. Customers globally.
In November 2021, BASF launched a research and development facility at Korea’s Engineering Plastics Innovation Center, Ansan. In addition to other new abilities and a Consumer Electronics Competency Center, the new building contains the combined R&D team and competencies from its recent acquisition of Solvay's polyamide business.
The Global Polyamide Market is forecasted to continue a positive growth during the forecast period. One of the main trends driving market expansion is the high adoption rate of polyamide in various industries due to its properties like strong mechanical qualities, wear resistance, chemical resistance, and low gas permeability along with natural polyamide’s eco-friendly nature. The market is highly competitive with ~400 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers.
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Key Topics Covered in the Report
- Snapshot of Global Polyamide Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Polyamide Market
- Historic Growth of the Overall Global Polyamide Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Polyamide Market
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- COVID-19 Impact on the Overall Global Polyamide Market
- Future Market Forecast and Growth Rates of the Total Global Polyamide Market and by Segments
- Market Size of Product / Application Segments with Historical CAGR and Future Forecasts
- Analysis of the Polyamide Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Regions
Major Players Profiled in the Report
- Honeywell International Inc.
- BASF SE
- Evonik Industries AG
- DuPont de Nemours Inc.
- Teijin Limited
- LANXESS AG
- Invista
- Solvay SA
- Koninklijke DSM NV
- Domo Chemicals GmbH
- Mitsubishi Chemical Holdings
Emerging Companies Mentioned in the Report
- Toray Industries, Inc.
- Premier Chemical Industries
- Ter Chemicals Distribution Group
- Norelem
- Viscofan Group
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