Bio-polyamide Market Size, Share & Trends Analysis Report By Product (PA-6, PA-66, Specialty Polyamides), By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Bio-polyamide Market Size & Trends

The global bio-polyamide market size was valued at USD 191.66 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 19.6% from 2023 to 2030. The significant consumer demand along with increasing regulations such as global warming initiatives and plastic bag bans, are driving market opportunity for bio-based plastics is expected to augment the demand for polylactic acid over the forecast period.

Limited availability and increasing cost of fossil resources have forced manufacturers to shift their focus toward bio-based products. Bio-based polymers generally have lower CO2 footprint and are associated with efforts to create more sustainable and environmentally friendly products. One of the main reasons for the increasing level of interest in bio-based products is the fact that these products may contribute to a more efficient use of natural resources, which is a necessary condition for creating a more sustainable economy.

Bio-polyamide is very effective owing to its characteristic for reducing the carbon footprint due to its high bio-content. It offers mechanical strength, ductility, flexibility, and abrasion resistance. These factors make it an alternative to traditional plastics such as Polyamide, polylactic acid, polyethylene terephthalate, acrylonitrile butadiene styrene, and polybutylene terephthalate and are preferred for automotive interiors and engine compartments.

The U.S. dominated the regional market in 2022 and is anticipated to maintain its dominance over the forecast period. Technological advancement in electrical & electronics, textile, and automotive industry is expected to create demand for bio-polyamide over the forecast period. Rising demand for compact products with higher performance efficiency is anticipate to boost the demand for bio-polyamide in the electrical & electronics and automotive segment. Electrical and electronics segment is anticipated to grow at the fastest CAGR over the forecast period within this region owing rapid technological advancement and growing use of energy efficient products.

The favorable government regulations implemented in the country related to the production of bio-polyamide, along with the easy availability of raw materials for the synthesis of bio-polyamide, are projected to fuel the growth of the market in the U.S. from 2022 to 2030. Growth in global automobile market with increasing focus on fuel efficiency and improvement in vehicle performance is driving this market. Textile industry development owing to growth in fashion, clothing and apparel sector is anticipated to increase the demand for environment friendly products.

The rapid growth of the global healthcare sector is likely to trigger the demand for medical equipment such as gloves, bandages, masks, and other products, thereby positively influencing the demand for flexible packaging. This is anticipated to fuel market expansion over the forecast period.

End-use Insights

The automotive sector dominated the end-use segment and accounted for the largest market share of over 34.0% in terms of revenue in 2022. Bio-polyamide are used in automobile industry for various application such as transmission cross beams, air intake manifolds, crashworthy engine covers, oil pan, etc. From dashboard to complicated ABS and engines, these polyamides have diversified applications which provide improved specification and features with reduction in weight and size. Technological advancements in the automobile field with improvement in infrastructure is creating more demand for automobile products.

Textile is one of the major end-use industry of bio-polyamide market. Growing consumer awareness towards the product regarding its aesthetics, recyclability and impact on environment is a major driver for environment friendly products. Energy conservation practices coupled with changed social orientation towards product & services is pushing the bio-polyamide market towards growth.

Electrical and electronics is another major industry with a large market penetration and growth rate. Demand for these consumer electronics such as mobiles, LED’s, and others are developing rapidly because of rise in disposable income, technological adoption, and awareness about benefits of using these modern electronic products.

The growing use of electronic products has escalated the use of plastics in electrical equipment, resulting in an increased production of bio-polyamide. Furthermore, to reduce the use of single-use plastics in order to control pollution, especially in the oceans, alternative packaging materials are likely to boost the growth of the bio-polyamide market globally.

Application Insights

The engineering plastics sector dominated the application segment accounted for the largest market share based on revenue of 67.19% in 2022 owing to its wide scope of application. Development in energy saving and demand for environment friendly solutions is anticipated to augment market growth. These plastics are widely used in the electronic and automobile sector on account of its light weight and strength to weight ratio.

Development in automobile technology and changing consumers buying behavior is positively impacting this segment. Requirement for fuel efficient product & solutions coupled with stringent emission norms is pushing the end-use industry to use such products. Growing economy, rise in consumers spending power and technological innovation is creating a strong growth potential for this segment.

Fibers application segment is growing with a significant CAGR owing to its superior benefits such as light weight, less expensive than other substitutes, high electrical & mechanical resistivity and capability to withstand at high temperatures on account of its high tensile strength. It is used in many applications by various end use industries such as automobiles, electrical & electronics, manufacturing, aerospace, and others.

Product Insights

The PA-66 sector dominated the product segment and accounted for the largest revenue share of over 50.0% in 2022. Increasing applications in the electrical & electronics, automotive, aerospace and marine segment is expected to foster market demand. Strength and wear resistance of PA-66 makes it a suitable product in manufacturing of high quality cable ties. Its property of absorbing slightly less moisture than PA-6 gives it a competitive edge over other substitutes.

Growing end-use industries such as manufacturing, automobile, marine, electrical & electronics, and others are driving the product demand over the forecast period. Moreover, the presence of well-established film & coating companies, which is a major consumer of bio-based polyamide, is anticipated to drive the demand for the product across the globe.

Furthermore, the PA-6 product segment is anticipated to experience high growth owing to properties such as better ductility, long term thermal resistance, surface quality, creep resistance and UV resistance over other PA-66. PA-6 ability to provide resistance from impact in low temperatures and its low cost over other substitutes. It is widely used in various applications such as automotive, manufacturing, textiles, film & coating, and the electrical & electronics industry. In the automotive sector it is used as a cover for crash-active engine, oil pan, transmission cross beam and air intake manifold.

Regional Insights

Europe dominated the market and accounted for the largest regional share of over 41.0% in 2022. With the presence of developed auto industries, Europeans are currently experimenting the scope of material selection strategies, multi material architectures, light weighting opportunities of structural parts, engine, components, powertrain, innovative joining technologies, use of composites, thermoplastics, glass fibers, and material production methods with an intention of developing efficient and recyclable material.

Owing to technological advancement and presence of suitable infrastructure is expected to create demand for bio-polyamide in Germany. Stringent emission norms such as Euro 6 which is highly focused on reducing the emission of harmful pollutants such as hydrocarbons, nitrogen oxides, carbon monoxide, hazardous air pollutants and greenhouse gases is expected to propel market demand.

North America is predicted to grow at a significant rate over the forecast period owing to the growing awareness towards environment friendly product & solutions is anticipated to drive this market owing to the recyclability and green nature of bio-polyamide. Availability of huge immanent market and supportive government policies are boosting global bio-polyamide players to set up production and distribution facility in this region.

Key Companies & Market Share Insights

The global bio-polyamide market is a highly competitive market due to the presence of major industries across the region as these companies are comparatively concentrated and fiercely competitive along with acquisitions, mergers, and collaborations. For Instance, In April 2023, DOMO Chemicals opened new manufacturing line in Mahape, Navi Mumbai. The new range reflects. DOMO Chemicals has enjoyed exceptional double-digit growth in its total Asian operations, driven by high demand for its polyamide-based solutions throughout the automotive, electrical & electronics, consumer, and industrial products sectors, and is thus growing capacity across Asia. Some of the prominent players operating in the global bio-polyamide market include:

• Evonik Industries AG

• Huntsman International LLC

• LANXESS

• BASF SE

• UBE Corporation

• INVISTA

• DOMO Chemicals GmbH

• Arkema

• Asahi Kasei Corporation

• Honeywell International Inc.

• DSM

• Toray Industries, Inc.

• Radici Partecipazioni SpA

• DuPont

• Solvay

• Zig Sheng Industrial Co. Ltd.

• Quadrant Group Limited

• Lealea Enterprise Co. Ltd.

• Ems Chemie Holding AG

Bio-polyamide Market Report Scope

Global Bio-polyamide Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global bio-polyamide market report based on product, application, end-use, and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • PA-6

  • PA-66

  • Specialty Polyamides

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Fiber

  • Engineering Plastics

• End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Textile

  • Automotive

  • Film & Coating

  • Consumer Goods

  • Industrial

  • Electrical & Electronics

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • The Netherlands

    • Turkey

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Malaysia

    • Singapore

    • Thailand

    • Vietnam

  • Central & South America

    • Brazil

    • Argentina

  • Middle East and Africa

    • Saudi Arabia

    • UAE

    • South Africa