Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Global Polyamide Market by Type (Polyamide 6, Polyamide 66, Bio-Based & Specialty polyamide), Application (Engineering Plastics, Fiber), and Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Polyamide Market is experiencing a significant growth trajectory with projections indicating an increase from USD 43.8 billion in 2023 to an estimated USD 55.7 billion by 2028. This market is demonstrating a robust Compound Annual Growth Rate (CAGR) of 4.9%, from 2023 to 2028, according to a new comprehensive study added to our industry research publications.
Key Insights from the Polyamide Market Research
The recent research publication offers an in-depth analysis of the polyamide market, categorized by type, application, and region, with strategic profiling of key market players. The Asia Pacific region remains a powerhouse due to the soaring demand in the automotive sector, while the Middle East & Africa region is poised to emerge as the fastest-growing market for polyamides within the forecast period.
Robust Demand for Polyamide 66
Polyamide 66, by type, continues to maintain a stronghold in the market, securing the second-largest share in 2022. This segment owes its growth to the material's high mechanical strength and stiffness, making it ideal for various applications, including automotive components.
Fiber Applications Boost Market Share
The market research reveals that the fiber segment, by application, takes the second-largest share by volume. This is attributable to the diverse uses of nylon fibers in applications where strength, durability, and elasticity are paramount.
European Market's Prominent Position
Europe's market for polyamide, guided by Germany and Italy, held the second-largest share in 2022. The region's focus on lightweight automotive production and stringent emission control measures catalyze the regional polyamide market, particularly within the automotive sector.
Competitive Analysis
- Extensive profiling of major polyamide market players, highlighting their market shares and core competencies.
- Detailed analysis of competitive developments including joint ventures, partnerships, and new product launches.
- Critical assessment of market strategies to determine growth patterns and product offerings.
Market Dynamics
The report presents an analysis of various market dynamics influencing polyamide market growth. Key drivers, such as increased usage in vehicles for weight reduction and application growth in electrical and electronics, are dissected alongside potential restraints like the emergence of substitute materials. It also outlines the opportunities and challenges present in the market, such as the fluctuations in raw material prices and the environmental risks associated with plastic usage.
The Importance of this Polyamide Market Research
This research is instrumental for businesses and stakeholders looking to gain a comprehensive understanding of the global polyamide market dynamics. It provides invaluable insights on market drivers, restraints, and opportunities, alongside offering a competitive assessment that can aid in strategic decision-making. Furthermore, it touches upon innovation trends and offers a peek into market diversification and development opportunities cropping up around the globe. Through this report, stakeholders can anticipate and leverage the pulse of the market, guiding them in harnessing future opportunities and navigating market challenges effectively.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 234 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $43.8 Billion |
| Forecasted Market Value (USD) by 2028 | $55.7 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
Premium Insights
- Increasing Applications of Polyamide in Automotive and Electrical & Electronics to Drive Market
- Middle East & Africa to Register Highest CAGR from 2023 to 2028
- Engineering Plastics Accounted for Larger Share, in Terms of Volume, in 2022
- Bio-Based & Specialty Polyamide to Register Highest CAGR During Forecast Period, by Volume
Market Overview
Drivers
- Increased Usage in Vehicles for Weight Reduction
- Growing Demand for Electrical & Electronic Appliances
Restraints
- Availability of Various Substitutes
Opportunities
- Investments and R&D in Bio-Based Polyamides
Challenges
- Fluctuating Raw Material Prices
Companies Mentioned
- Basf Se
- Envalior
- Celanese Corporation
- Arkema
- Evonik Industries Ag
- Asahi Kasei Corporation
- Dupont De Nemours, Inc.
- Kuraray Co., Ltd.
- Toray Industries, Inc.
- Ube Corporation
- Formosa Chemicals & Fibre Corp.
- Sabic
- Advansix
- Huntsman International LLC
- Ems Grivory
- Domo Chemicals
- Ascend Performance Materials
- Mitsubishi Chemical Advanced Materials
- Invista
- Radicigroup
- Li Peng Enterprise
- Grodno Khimvolokno
- Toyobo Mc Corporation
For more information about this report visit https://www.researchandmarkets.com/r/difm0d
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