GVR Report cover Specialty Polyamides Market Size, Share & Trends Report

Specialty Polyamides Market Size, Share & Trends Analysis Report By Product (High Temperature, Long Chain Specialty Polyamide), By Application (Electrical & Electronics, Energy), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-211-2
  • Number of Pages: 140
  • Format: Electronic (PDF)

Report Overview

The global specialty polyamides market size was estimated at USD 2.55 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 6.8% over the forecast period. The growing demand for lightweight materials in the automotive and transportation industries is one of the key trends driving the growth of the market. In addition, growing concerns about automotive fuel efficiency and strong demand for cleaner solutions are expected to drive demand for the product over the forecast period.

U.S. specialty polyamides market size, by product, 2020 - 2030 (USD Million)

In terms of revenue, the market in the U.S. had the highest share in the North American region in 2022. It is projected to progress at a steady CAGR over the forecast period. Demand for it is expected to grow in the coming years due to the booming automotive sector in the country. The U.S. is one of the most lucrative markets for car manufacturing, on account of a well-developed economy coupled with supportive government policies.

Fiat Chrysler, General Motors, and Ford are the three largest U.S. automakers with high demand for specialty polyamides. Another feature of the U.S. auto market is the huge demand for high-end luxury vehicles, with sales expected to increase further in the coming years. General Motors, Mercedes-Benz, and Audi AG are among the few leading luxury automakers operating in the U.S. Furthermore, rising demand for compact products with high-performance efficiency is expected to drive the demand for specialty polyamides in the U.S. electrical & electronics, and automotive industries.

The market in the U.S. is also driven by strong growth in the consumer goods and E&E sectors. The U.S. consumer goods industry is expected to be primarily driven by rising consumer income levels, low inflation, and a strong labor force. Moreover, key players in the country are developing bold new strategies to capitalize on growth as well as partnering with or acquiring other companies to gain a larger consumer base and leverage market solutions. These factors are expected to drive product demand over the forecast period.

Product Insights

The high-temperature specialty polyamide segment dominated the industry in 2022 and accounted for the largest share of more than 47.20% of the overall revenue. The product segment includes high-temperature polyamides, long-chain polyamides, and MXD6/PARA specialty polyamides. The segment is expected to maintain its dominance over the coming years. High-temperature polyamides are highly crystalline polyamides that differ from other specialty polyamides, such as PA 6/10, PA 11, PA 6/12, and PA 12, due to their thermal and mechanical properties.

High-temperature polyamides include PA6T/6I/66, PA6T/66/DT, PA6T/66, PA46, PA9T, PA4T, PA6T/6, PA6T/6I, PA6T/DT, and PA10T. High-temperature polyamides are high-performance materials that are cost-effective and offer ease of processing, strength, and durability. Manufacturers of end-products from a variety of applications prefer high-performance polyamides for better strength, enhanced thermal performance, reduced weight, durability, and simplified processing.

Application Insights

Automotive & transportation was the largest application segment in 2022 and accounted for the largest share of more than 37.45% of the overall revenue. Specialty polyamides are commonly used in the automotive industry as they meet the needs of automotive thermal management components. They maintain excellent toughness and strength when exposed to hot automotive fluids. It finds important application in the above fields due to its excellent balance of oil resistance, toughness, mechanical strength, design flexibility, and thermal stability.

Global specialty polyamidesmarket share, by application, 2022 (%)

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

Regional Insights

The Asia Pacific region accounted for the largest share of more than 43.00% of the overall revenue in 2022, followed by North America. Led by China, India, and Japan, the Asia Pacific region is projected to expand further at the fastest CAGR during the forecast period. The availability of low-cost raw materials and labor along with increasing consumption capacity are the major drivers for the growth of the market in this region. Moreover, supportive government policies and a huge untapped market are attracting global specialty polyamide manufacturers to set up production and distribution facilities in the region.

Content Services Platforms Market Trends by Region

Voltage and load fluctuations are common in the Asia-Pacific region compared to developed economies in Europe and North America. Power fluctuations create more demand for power protection devices that can minimize financial losses. Specialty polyamides are gaining more and more attention from electrical and electronics manufacturers because plastic parts are more compact and can be easily integrated with other components, simplifying the design process. The growing middle-class population, rising per capita income, and high living standards in emerging economies will also support regional growth. The rapidly growing automotive manufacturing industry is also supplementing the product demand in the region.

Key Companies & Market Share Insights

The global industry is highly competitive due to the presence of top players. Due to the increasing demand for the production of specialty polyamides for various applications including flexible printed circuits and specialty fabricated products, key manufacturers are developing new polymers for the production process. The key companies are expected to develop their polymer offerings for North America, Asia Pacific, the Middle East & Africa, and Central & South America owing to the high demand in these regions, given the expansion of the overall market. Some of the prominent players operating in the global specialty polyamides market are:

  • Evonik Industries AG

  • Arkema S.A

  • BASF SE

  • DowDuPont, Inc.

  • Koninklijke DSM N.V.

  • Asahi Kasei Corp.

  • LG Chem

  • INVISTA

  • Solvay SA

  • Radici Partecipazioni SpA

  • Ems-Chemie Holding Ag

  • Ube Industries Ltd.

  • Kuraray Co., Ltd.

  • Mitsubishi Gas Chemical Company, Inc.

  • Toyobo Co., Ltd.

  • ShanDong DongChen Engineering Plastic Co., Ltd.

  • Eurostar Engineering Plastics

Specialty Polyamides Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 2.70 billion

Revenue forecast in 2030

USD 4.31 billion

Growth rate

CAGR of 6.8% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Volume in tons, revenue in USD million/billion, and CAGR from 2023 to 2030

Report coverage

Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Region scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; France; The Netherlands; Italy; Poland; Spain; China; India; Japan; Hong Kong; Taiwan; Thailand; South Korea

Key companies profiled

Evonik Industries AG; Arkema S.A.; BASF SE; DowDuPont, Inc.; Koninklijke DSM N.V.; Asahi Kasei Corporation; LG Chem; INVISTA; Solvay America, Inc.; Radici Partecipazioni Spa; Ems-Chemie Holding Ag; Ube Industries Ltd.; Kuraray Co., Ltd.; Mitsubishi Gas Chemical Company, Inc.; Toyobo Co., Ltd.; ShanDong DongChen Engineering Plastic Co., Ltd.; Eurostar Engineering Plastics

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Specialty Polyamides Market Segmentation

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 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global specialty polyamides market report based on product, application, and region:

Global Content Services Platforms Market Segmentation

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

    • Long Chain Specialty Polyamide

    • High-Temperature Specialty Polyamide

    • MXD6/PARA

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

    • Automotive & Transportation

    • Electrical & Electronics

    • Consumer Goods & Retail

    • Energy

    • Industrial Coatings

    • Others

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

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • The 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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