New Jersey, NJ, Jan. 20, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global transparent polyamides market is expected to grow from USD 21.94 billion in 2018 to USD 30.34 billion by 2026 at a CAGR of 3.82% during the forecast period 2019-2026. Growing construction activities with increasing population, increasing demand in electronics applications, and rising demand for lightweight materials are factors swelling the growth of the market
Market Outlook of the Transparent Polyamides
- Transparent polyamides can be of PA 66, PA 6, and other types that provide high strength, durability, and elasticity properties. Transparent polyamides are capable of absorbing more moisture from the air as compared to other types of polyamides and this provides process ability, physical properties, and stability to the products. The applications of transparent polyamides include eyewear frames & lenses, headphones & ear buds, mobile phone and battery covers & casings, gun components, breathing masks, misc. consumer electronics, baby bottles, and industrial filters.
- Growing construction activities with increasing population, increasing demand in electronics applications, and rising demand for lightweight materials are the key driving factors for the transparent polyamides market. However, stringent government regulations and competition may limit the growth of the market. Rising demand from applications in electronics and coatings industry is expected to boost the transparent polyamides market over the forecast period.
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Type Segment Analysis of the Transparent Polyamides Market
- PA 6
- PA 66
- Others
The PA 6 segment held highest market share of 37.28% in 2018 owing its rapid moisture absorbing properties and increasing use in textile & paper, materials handling, machine building, and other industries. Polyamide 6 is mainly a semi-crystalline polyamide that occur naturally in the form of silk and wool. PA 6 are tough and strong material with good damping characteristics and high shock resistance even in the dry state and at low temperatures.
Grade Segment Analysis of the Transparent Polyamides Market
- Fiber Grade
- Injection Molding Grade
- Extrusion Grade
The fiber grade segment dominated the global transparent polyamides market with USD 7,543.01 million in 2018. This is attributable to lightweight & recyclability features of transparent polyamides and high adoption in several industries due to its mechanical properties.
Application Segment Analysis of the Transparent Polyamides Market
- Automotive
- Electrical & Electronics
- Films & Coatings
- Industrial Machinery
- Others
The electrical & electronics segment is anticipated to grow with the highest CAGR of 4.04% during the forecast period owing to its use of transparent polyamides in connectors, cables, switches, plugs, relays, and other electronic applications. The automotive segment is the second largest segment due to the high flexural fatigue strength, lower water absorption, transparency even with thick walled components, and stiffness properties. The low cost of production and high-performance factors offered by transparent polyamides has increased their use in films & coatings applications.
Region Segment Analysis of the Transparent Polyamides Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific region held the largest market share of approximately 33.22% in 2018 where as the Europe region held the second dominant position in the global transparent polyamides market. Increasing demand from packaging and electronics industries, rising large-scale investments in the automobile sector, and rising disposable incomes of the population has made Asia Pacific region dominant in the global transparent polyamides market. Europe is growing at a rapid growth rate due to the increasing investment in automotive, infrastructure and chemical industries as well as increasing need for light weight vehicle.
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Competitive landscape and key vendors
- Key players in the transparent polyamides market are BASF SE, Evonik, Formosa Group, Honeywell International Inc., Invista, DuPont, Li Peng Enterprise Co., Ascend Performance Materials Inc., Huntsman, Koch industries, Radici Group, Solvay, Royal DSM N.V., Shenma Industrial Co. Ltd., Rhodia, Lanxess, Arkema, Ester, and other.
- For instance, in April 2019, Evonik expanded its production capacities for transparent polyamides in Marl. This expansion has strengthen the company’s market position as a reliable partner and solutions provider for specialty applications. In addition, Evonik also aimed to expand its TROGAMID® CX production in part through targeted debottlenecking efforts.
- For instance, in April 2017, BASF launched semi-transparent nylon. Ultramid Vision is a semi-crystalline nylon featuring very high light transmission and low light scattering properties.
- For instance, in 2015, Invista Launches Novadyn Transparent Polyamides for Nylon. Novadyn polyamides are highly versatile semi-aromatic polyamides with a unique combination of performance, cost effectiveness and recycled content.
About the Report:
The global transparent polyamides market is analysed on the basis of value (USD Million) volume (K Tons), consumption (K Tons), imports (K Tons) and exports (K Tons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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