Increasing polyamide demand in automotive, electrical & electronics, machinery, consumer goods, packaging and textiles industries is expected to drive the global market growth over the forecast period. Polyamide is rapidly replacing metals in automotive air intake manifolds. Automotive manufacturers are increasingly using polyamide in order to cut down system costs and integrate components in order to increase fuel efficiency of automotives. This trend is expected to drive polyamide demand in automotive applications. Other major applications polyamide in automotive include engine covers and airbag containers. Stringent safety norms have made airbags a compulsory feature in modern automotives, particularly passenger cars. Increasing passenger car sales mainly in emerging markets is expected to further strengthen polyamide demand in automotive applications. With lead free soldering prevailing electronics manufacturing, polyamide is expected to gain prominence owing to its high temperature resistance. It is being widely used in electronic connectors and as shielding material in conveyor systems and trays. Growing electrical & electronics industry is expected to have a positive impact on this trend and further drive the global market growth over the forecast period.
On the basis of product type, polyamide market is segmented as polyamide 6, polyamide 6-6 and bio-based polyamide. In food packaging, polyamide 6 films provide excellent barrier properties that keep oxygen out and seal aroma. Growing processed food demand is expected to drive the polyamide market growth. Environmental awareness among people and increasing use of recyclable products is expected to drive bio-based polyamide demand.
Asia Pacific emerged as a major regional polyamide market, driven by its increasing application automotive and food packaging industries. Growing demand for processed food products in emerging markets of Asia Pacific and Latin America are expected to drive the regional market growth over the next seven years. North America and Europe markets are characterized by stringent environmental regulations. However, increasing bio-based polyamide production is expected to off-set these challenges and the respectively regional markets.
Major players operating in polyamide market globally include Honeywell, Koch Industries, Huntsman Corp., DuPont, DSM N.V., Radici Group and Lanxess. Market competitiveness is characterized by heavy R&D by major companies to develop sustainable solutions for product development.
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