Specialty Polyamides Market Report

Specialty Polyamides Market Analysis By Application (Automotive & Transportation, Electrical & Electronics, Consumer Goods & Retail, Energy, Industrial Coatings), Competitive Strategies, Trends & Dynamics And Segment Forecasts, 2014 - 2024

Published: October 2016  |  125 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-211-2

Industry Insights

The global specialty polyamides market size was USD 1.96 billion in 2015 and is expected to witness high growth over the forecast period. Increasing demand for advanced automotive & transportation parts that are manufactured from renewable sources such as castor and palm kernel oil in developing countries is anticipated to boost industry growth.

Specialty polyamide producers are considering high quality and eco-friendly alternatives to traditional petroleum raw materials and manufacture innovative, customized products for end-users. Such industry-specific products are extensively used to produce automotive & other transportation components.

Advanced polyamides have led to discovering new natural raw material sources with exceptional quality and ease of use. Thus, specialty nylon market is projected to witness a substantial growth in the next eight years.

U.S. specialty polyamides market revenue by application, 2014 - 2024 (USD Million)

U.S. specialty polyamides market

Specialty polyamides are used as an alternative to synthetic counter parts and include 6/10, 6/12, 10/10, 10/12, 11, and others. Higher polyamides such as PA 11 and 12 provides improved humidity resistance, superior thermal and mechanical characteristics and offers additional resistance to the majority of commonly used aids & solvents. They can be molded, extruded and made into films, or utilized in fibers.

Automobile consumers have been demanding enhanced comfort and safety requirements, which are resulting in increased vehicle weight and additional difficulties for producing lighter cars. High demand has been witnessed for solid steel or customized blanks, thus rising vehicle cost.

Similarly, with the rise in demand for fuel economy improvement and emission control, automobile companies have been inventing alternative solutions to manufacturing lighter vehicles through material substitution, design modification, and efficient manufacturing practices. Existing materials used include light alloys such as aluminum and magnesium, high-strength steels, and a variety of composites.

The greatest advantage of such product is that they are manufactured using renewable raw materials and the serial phases of production, use and removal are usually greenhouse gasses (GHG) neutral.

Specialty polyamides manufactured via renewable raw materials have a lower CO2 footprint and support more sustainable, green products. Favorable government regulations regarding the use of polyamides in automotive, textile and consumer goods industries are expected to drive the global market over the forecast period.

Major industry participants are investing in research and development. Due to fierce industry rivalry, there has been an increased effort to achieve product differentiation. Government and companies are taking efforts to encourage the use of these polyamide among the key end-use industries. All these factors are expected to benefit the engineered nylon market over the next eight years.

Application Insights

The automotive & transportation segment recorded the largest demand in 2015. It is projected to witness strong growth over the forecast period. A vast range of specialty polyamides are used to make vehicle components, plus the production technologies and methods required to manufacture those materials differ significantly.

Weight reduction plays a significant role in discovering new depths of cutting-edge plastics technology with sustainability solutions and additive manufacturing. It is directly proportional to the consumption of energy. Automobile plastics companies such as Evonik Industries, Arkema SA, BASF SE and others are engaged in replacing ferrous and non-ferrous metals with specialty polyamides and increasing specific strengths and in flexibilities of polymers.

Specialty polyamides market share by application, 2015

Specialty polyamides market

Regional Insights

Asia Pacific specialty polyamides market led the global industry mainly due to expanding size of the regional automotive industry. The market was valued at USD 588.4 million in 2015 and is projected to grow at the CAGR of 7.1% from 2016 to 2024. The growth in this region is primarily driven by increasing electronics & semiconductors and consumer care packaging sector. China, Korea, and Japan are projected to experience strong growth in the next coming years.

Asia Pacific is the fastest growing regional market and is expected to experience the highest growth rate from 2016 to 2024. Growth of transportation industry on account of growing disposable income level particularly in China and India is expected to drive the regional market. These countries along with Korea, Taiwan, and Japan are expected to create significant opportunities for specialty nylon manufacturers owing to its increased demand for electronics, semiconductors, and other industrial durable applications.

Central & South America is anticipated to witness moderate growth over the next few years. Rising consumer’s necessity for convenience and better sealing features improved environmental standards along with considerable economic growth in countries such as Venezuela, Colombia, Argentina, and Brazil is expected to spur demand in the region over the forecast period.

Competitive Insights

Companies have invested in enhancing their production efficiency and product offerings. Key companies have introduced superior nylons products with high quality and extended product durability which are gaining preference in the automotive & transportation sector. In June 2016, Arkema increased their specialty polyamides manufacturing capacity at Zhangjiagang site (Jiangsu Province, China) in order to cater to the growing demand.

The site is engaged in the production of new Pebax bio-sourced grades for the sports and electronics market. Key players include Koninklijke DSM N.V., Radici Group, E. I. du Pont de Nemours and Company, Solvay S.A., and INVISTA S.à r.l.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historic data

2014 & 2015

Forecast period

2016 - 2024

Market representation

Volume in tons and revenue in USD Million & CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Central & South America & MEA

Country scope

U.S., UK, Germany, France, The Netherlands, Italy, Poland, Spain, China, Japan, Hong Kong, Taiwan, Thailand, South Korea

Report coverage             

Revenue forecast, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts volume & revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2024. For the purpose of this report, Grand View Research has segmented the global, specialty polyamides market on the basis of application, end-use and region:

  • Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)

    • Automotive & transportation

    • Electrical & electronics

    • Consumer goods & retail

    • Energy

    • Industrial coatings

    • Others

  • Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)

    • North America

      • U.S.

    • Europe

      • Germany

      • France

      • Netherlands

      • Italy

      • Poland

      • Spain

    • Asia Pacific

      • China

      • Hong Kong

      • Japan

      • Taiwan

      • Thailand

      • Korea

    • Central & South America

    • Middle East & Africa

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