Polyamides Global Market to Benefit from Increased Demand for Engineered Plastics

October 03, 2018

WELLESLEY, Mass., Oct. 03, 2018–The polyamide market is expanding globally due to an increased demand for engineered plastics, according to the BCC Research report Polyamides: Types and Global Markets. End-user industries such as automotive, food and beverage, electronics, fabrics and construction utilize polyamides because of their mechanical strength, transparency and barrier properties against smells, oils and oxygen.

Polyamides (PAs) are synthetic polymers, more commonly known as nylon. The first commercialized polyamide fibers were PA66 and PA6. These polyamides are the cornerstone of engineering plastics, filaments and fibers due to their tearing and abrasion resistance, shape stability and high elasticity. Additionally, polyamides have high mechanical properties at high temperatures and good chemical resistance.

The global polyamide market is expected to increase at a compound annual growth rate (CAGR) of 4.1% through 2023. Major players in the market are BASF, DowDuPont, Honeywell International Inc., Arkema, Evonik, Asahi Kasei Corp., Huntsman, Royal DSM, Lanxess and others.

Research Highlights

  • The automotive industry is expected to see the highest application of polyamides.
  • The Asia-Pacific market for engineering plastics is likely to grow at a rate of 7% per year as the region’s transportation, construction, electrical and electronics industries expand.
  • The eco-friendly and bio-based polyamides are likely to grow at the highest rate throughout the forecast period. The demand for organic based products is likely to rise worldwide owing to fluctuating prices of petrochemical-based raw materials.

“The rising demand for renewable and sustainable polymers is a key trend in the global polyamide market,” the report notes. “Furthermore, the exhaustion of fossil fuel reserves and volatile petrochemical prices are expected to increase the demand for bio-based polyamides. The development of bio-based polyamides is expected to increase profitability.”

Asia-Pacific Drives Growth

Asia-Pacific has emerged as a major region for the polyamide market. The market is primarily driven by its increasing use in the automotive, construction and food packaging industries. The growing demand for processed food products in developing markets such as Asia-Pacific and South America is also likely to drive the market for packaging.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Polyamides: Types and Global Markets( PLS096A )
Publish Date: Sep 2018    

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