3 Key Insights on US$ 50 Bn Opportunity in Global Polyamide Market: Ken Research

Driven by the Rising Adoption of Polyamide in Automotive, Electronics, and Electrical Industries, the Global Market is Forecasted to reach ~US$50 Bn by 2028 says Ken Research Study.

Polyamide is found both naturally (silk and wool) as well as through synthetic sources like aramid, polyamide 6, and more. It is being increasingly adopted due to artificial polyamide’s characteristics like strong mechanical qualities, wear resistance, chemical resistance, and low gas permeability along with natural polyamide’s eco-friendly nature.

Polyamide as a substitute for metals is being increasingly demanded, to reduce weight is boosting the demand for polyamide in various end-user industries like electronics and electrical, automotive, consumer goods and appliances, and various other sectors.

Ken Research shares 3 key insights on this high-opportunity market from its latest research study.

1. Distinct Characteristics of Polyamides are Key Reasons for Their Adoption in Various Industries

According to Research estimates, the Global Polyamide Market – which was valued at ~US$ 25 Bn in 2017, is estimated to reach ~US$ 35 Bn by 2022 – is further expected to grow to ~US$ 50 Bn opportunity by 2028.

Manufacturers and engineers frequently require a material that is more pliable and lightweight than metal while still offering protection and durability making polyamide a preferred option. It is widely used in a variety of industries and product manufacturers because of its convenience, dependability, and affordability.

Types of polyamides include Polyamide 6, Polyamide 66, and Bio-based Polyamide and find application in industries including engineering, plastics, textiles, electronics & electrical, sports equipment, automotive, and consumer goods & appliances.

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2. Growing Demand for Components with High Compactness Qualities to Propel the Market for Polyamides

The demand for polyamides in the electrical and electronics industries is anticipated to rise as size concerns become more prevalent due to polyamides like plastics’ compactness and ease of integration with other components. As a result, manufacturers are creating smarter, thinner-walled tiny circuit breakers (MCBs), which facilitate the design process.

According to British Plastic Federation, plastics are employed in a variety of applications where their insulating qualities are required since it does not conduct electricity. Electric wiring is frequently insulated with PVC, and light fixtures, switches, and grips are typically made of thermosets, which can tolerate high temperatures. Also, given that they shield the user from the possibility of electric shock, plastics are particularly well suited for the housings of products like electric razors, hairdryers, and food mixers. Therefore, polyamide adoption is a trend in the electrical and electronics industries.

The below chart depicts the tensile strengths of PA6 and PA66 polyamides that are widely used in electronics and electrical devices. Although both polyamides have their own specific applications, PA6, has higher tensile strength than PA66, and is most preferred in electronic devices.

3. Hurdles from Substitute Products to Pose Limitations in Growth of the Market

The growth rate of the Global Polyamide Market is experiencing hurdles due to growing competition from replacement products like polypropylene and polyvinylidene fluoride (PVDF) which is a non-reactive thermoplastic with few superior properties in comparison to polyamides.

For example, the water permeability quality of PVDF makes it the preferred choice. It absorbs significantly less percentage of water as compared to polyamides like 6 and 66. This makes polypropylene ideal for total immersion applications when the material of the basket beneath needs to be shielded from exposure to various chemicals.

Polyvinyl fluoride (PVF) is being adopted in various different industries and production processes. It is regarded as a distinctive polymer or special plastic. Due to its qualities and performance, such as outdoor durability, stain resistance, high stability, and adhesion, it is consequently a significant type of polymer.

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Key Topics Covered in the Report

Snapshot of Global Polyamide Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Polyamide Market
Historic Growth of the Overall Global Polyamide Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Polyamide Market
Overview, Product Offerings, and SWOT Analysis of Key Competitors
COVID-19 Impact on the Overall Global Polyamide Market
Future Market Forecast and Growth Rates of the Total Global Polyamide Market and by Segments
Market Size of Product / Application Segments with Historical CAGR and Future Forecasts
Analysis of the Polyamide Market in Major Regions
Major Production / Consumption Hubs in the Major Regions
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Regions