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.
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.
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.
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.
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.
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.
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.
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
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 |
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:
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
b. The global specialty polyamide market size was estimated at USD 2.55 billion in 2022 and is expected to reach USD 2.70 billion in 2023.
b. The global specialty polyamide market is expected to grow at a compound annual growth rate of 6.8% from 2023 to 2030 to reach USD 4.31 billion by 2030.
b. High temperature segment dominated the specialty polyamide market with a share of over 45% in 2022. 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.
b. Some key players operating in the specialty polyamide market include 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.
b. Key factors that are driving the market growth include Surging demand for lightweight materials in the automotive and transportation industry and growing concerns regarding automobile fuel efficiency.
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