(MENAFNEditorial)
The is projected to reach USD 43.77 billion by 2020 at a CAGR of 5.4% from 2015 to 2020. The increasing usage of polyamide in the automotive sector for weight reduction is one of the key factors driving the growth of the polyamide market. Availability is another factor that has a positive impact on increased applications for polyamides as several players have well-established supply base across the globe.
Automotive segment is projected to be the largest segment of the market by 2020.
The automotive segment accounted for the share of the polyamide market. This can be attributed to the increased utilization of polyamide in body parts interiors and fuel systems with glass-reinforced plastics (GRP)-based structural parts air intake manifolds engine covers rocker valve covers airbag containers and various other interior & exterior automotive parts. Thus several auto components manufacturers are the target consumers for polyamides in the automotive segment.
North America market to register high growth in the polyamide market by 2020.
The polyamide market in North America is expected to register the highest CAGR between 2015 and 2020. The growth of the polyamide market in the North America & Europe is driven by the increasing demand of polyamide from the automotive and electronics & electrical sectors. The U.S. is a major consumer of polyamide in North America and is followed by Canada and Mexico. Asia-Pacific is estimated to contribute the largest share to the global market.
Bio-based and specialty type of polyamides to register high growth due to their advantages such as enhanced performance
The bio-based and specialty polyamide segment is expected to register high growth during the considered period due to their advantages such as increased performance. Bio-based polyamides also provide a good alternative over synthetic polyamides. PA6 and PA66 will continue to dominate the market with more than 80% market share till 2020.
BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS:
• By Company Type: Tier 1 – 15 % Tier 2 – 35% and Tier 3 – 50%
• By Designation: C Level – 54% Manager Level – 25% and Others – 21%
• By Region: North America – 50% APAC – 27% Europe – 21% and RoW – 2%
The companies profiled in this report are BASF SE (Germany) E.I. du Pont de Nemours and Company (U.S.) Invista S.a.r.l (U.S.) Solvay SA (Belgium) Asahi Kasei Corporation (Japan) Honeywell International LLC (U.S.) Evonik Industries AG (Germany) Formosa Plastics Corporation (Taiwan) Huntsman Corporation (U.S.) Arkema SA (France) Royal DSM NV (The Netherlands) Ube Industries (Japan) Lanxess AG (Germany) SABIC (Saudi Arabia) and Quadrant AG (Switzerland).
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