The global bio-polyamide market is anticipated to be valued at USD 327.3 million by 2025, according to a new report by Grand View Research, Inc. The increasing demand for bio-polyamides from the automotive, electronic & electrical, and textile industries is projected to drive the market in the next few years.
Reduction in the carbon footprint is a major factor that has contributed to the extensive use of eco-friendly products in various sectors. The superior properties of bio-polyamides, such as their high chemical resistance, low moisture absorption, excellent mechanical properties, and high thermal stability, have driven their usage in various applications as compared to their petrochemical-derived alternatives.
Legislation pertaining to the use of renewable products in Europe and North America along with the increasing awareness about the environmental degradation caused by the extraction of petroleum derivatives are expected to propel the bio-polyamide market over the forecast period. Synthetic surfactants are derived from petrochemicals. The stringent regulations enforced due to environmental concerns regarding the toxicity of synthetic surfactants are also likely to drive bio-polyamide market over the forecast period.
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Further key findings from the report suggest:
The global bio-polyamide market was valued at USD 110.5 million in 2016 and is projected to ascend at a CAGR of 12.9% from 2017 to 2025
The PA-6 segment occupied the largest market share and is expected to witness an estimated CAGR of 12.7% from 2017 to 2025
PA-66 is estimated to be the fastest growing segment owing to its higher modulus, better wear resistance, better short term thermal strength, and ability to absorb slightly less moisture as compared to PA-6
Massive investments made in the automotive, electronic, and textile industries are anticipated to influence the market growth positively in the next few years
Engineering plastics occupied the largest market share in 2016 and is projected to progress at the highest CAGR over the forecast period on account of its broad application scope
The automotive segment of the market by end use is predicted to ascend at the highest CAGR in the next few years owing to the development of automobile technologies
Key players in the market include Evonik Industries, Huntsman Corporation, Lanxess AG, Ube Industries, Ltd., and BASF SE
Patented manufacturing technologies and high raw material costs have restricted the entry of new players into the market. Increasing R&D efforts are projected to result in the emergence of new players in the industry.
Grand View Research has segmented the global bio-polyamide market on the basis of product, application, end use, and region:
Bio-Polyamide Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Bio-Polyamide Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Bio-Polyamide End-use Outlook (Volume, Tons; Revenue, USD Million; 2014 - 2025)
Film & Coating
Electrical & Electronics
Regional Outlook (Volume, Tons; Revenue, USD Million; 2014 - 2025)
Central & South America
Middle East & Africa
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