Specialty Polyamides Market Size, Share & Trends Report

Specialty Polyamides Market Size, Share & Trends Analysis Report By Product (Long Chain, High Temperature, MXD6/PARA), By Application (Automotive & Transportation, Electrical & Electronics), And Segment Forecasts, 2019 - 2025

  • Published Date: Dec, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-1-68038-211-2
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 140

Industry Insights

The global specialty polyamides market size was estimated at USD 2.36 billion in 2018 and is expected to register a CAGR of 5.9% over the forecast period. Surging demand for lightweight materials in the automotive and transportation industry is one of the key trends propelling the growth. In addition, growing concerns regarding automobile fuel efficiency and high demand for green solutions are anticipated to fuel the product demand.

In terms of revenue, the market in the U.S. held the largest market share in North America in 2018. It is projected to progress at a CAGR of 6.1% over the forecast period. U.S. is one of the most lucrative markets for automotive manufacturing owing to its well-developed economy coupled with presence of supportive government policies. Flourishing automotive manufacturing sector in the country is anticipated to fuel the growth.

U.S. specialty polyamides market

U.S. is one of the most lucrative markets for automotive manufacturing owing to its well-developed economy coupled with the presence of supportive government policies. General Motors, Fiat Chrysler, and Ford are the three largest automobile manufacturers in U.S., who contribute to the heavy demand for specialty polyamides. The U.S. automotive market is also characterized by a huge demand for premium luxury cars and is expected to witness a surge in sales in the forthcoming years.

Audi AG, Mercedes-Benz, and General Motors are among the few leading luxury car manufacturers, operating in the U.S. market. In addition, rising demand for compact products with high-performance efficiency is anticipated to boost the demand for specialty polyamides in electrical and electronics and automotive industries in U.S. over the forecast period. Specialty polyamides market in the country is further driven by the robust growth in consumer goods and electrical and electronics industries.

Consumer goods industry in U.S. is projected to be primarily driven by the rising income levels of consumers and low inflation. Moreover, key market players are developing bold and new strategies to capitalize on the growth as well as to form partnerships or for acquiring other companies to gain access to larger consumer base and to leverage market solutions. These factors are expected to fuel the product demand from U.S. over the forecast period.

Product Insights

The product segment consists of long-chain, high-temperature polyimides, and MXD6/PARA specialty polyamide. High temperature polyamide segment dominated the market in 2018 and is expected to maintain its dominance over the forecast period.

High-temperature polyamides are high-crystalline and differ from other specialty polyamides, such as PA 11, PA 12, PA 6/10, and PA 6/12 on account of their mechanical and thermal properties. High-temperature polyamides include PA46, PA4T, PA6T/6, PA6T/66, PA6T/6I, PA6T/6I/66, PA6T/DT, PA6T/66/DT, PA9T, and PA10T.

High-temperature polyamides are cost-effective and high-performance materials that offer durability, strength, and easy processing. End-product manufacturers from various applications prefer high-performance polyamides when the objective is to improve strength, enhance thermal performance, durability, reduce weight, and ease processing.

Application Insights

Automotive and transportation was the largest application segment, accounting for over 37.36% of the revenue share in 2018.Specialty polyamides are commonly utilized in automotive industry as they fulfill the need for automotive thermal management components. It maintains excellent toughness and strength during its exposure to hot automobile fluids. It finds major applications in the aforementioned areas owing to its excellent balance of oil resistance, mechanical strength, toughness, thermal stability, and design flexibility.

Global specialty polyamides market

In automotive and transportation application, the demand is expected to be driven by PA 12, PA 11, PA 4/6, and PA 6/12 grades of the product. These grades are typically used in airbag containers, engine covers, air intake manifolds, tire cords, hoses and tubing, automotive cooling systems, headlamp bezels, exterior automobile parts including door and tailgate handles, fuel caps and lids, wheel covers, and front-end grilles among others.

Regional Insights

Asia Pacific was the dominant regional segment occupying over 41% of revenue share in 2018 followed by North America. In 2018, Asia Pacific led by China, India, and Japan; emerged as the fastest growing regional market by both volume and revenue. Availability of low-cost raw materials and labor and increased spending power are the major driving factors for the growth. In addition, huge untapped market and supportive government policies are luring the global specialty polyamide manufacturers to set up their manufacturing and distribution facilities in the region.

Fluctuation in electric voltage and loads is common in Asia Pacific compared to developed economies of Europe and North America. The electricity fluctuations generate more demand for electric protection devices, which can minimize the economic loss. Specialty polyamides are gaining attention from electrical and electronics manufacturers as plastic parts are more compact and can be easily integrated with other components, thus simplifying the design procedure.

Asia Pacific is expected to register the fastest growth owing to rising per capita income in emerging economies, expanding middle-class population, and improving standard of living. Rapidly developing automobile manufacturing industries are also supplementing the demand for the product in regional market.

Specialty Polyamides Market Share Insights

Evonik Industries AG; Arkema S.A.; BASF SE; DowDuPont, Inc.; Koninklijke DSM N.V.; Asahi Kasei Corporation; LG Chem; INVISTA; Solvay America, Inc.; and Radici Partecipazioni Spa are some of the key players engaged in manufacturing specialty polyamide.

A wide range of products and surging demand from end users are some of the factors leading to increased competition among market players. On account of higher demand, several manufacturers, such as BASF SE, Evonik Industries AG, Arkema SA, DowDuPont, Invista, Kuraray Co., Ltd, Mitsubishi Engineering-Plastics Corporation, and Ube Industries Ltd., have increased their production capacities to meet the rising demand from various application industries.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Volume in Kilotons, Revenue in USD Million & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., Germany, France, Netherlands, Italy, Poland, Spain, China, India, 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 revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global specialty polyamides market report on the basis of product, application, and region:

  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Long Chain Specialty Polyamide

    • High Temperature Specialty Polyamide

    • MXD6/PARA

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Automotive & Transportation

    • Electrical & Electronics

    • Consumer Goods & Retail

    • Energy

    • Industrial Coatings

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

    • Europe

      • Germany

      • France

      • Netherlands

      • Italy

      • Poland

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Hong Kong

      • Taiwan

      • Thailand

      • South Korea

    • Central & South America

    • Middle East & Africa

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