Polyamide Market Size to Reach $40.6 Billion by 2028 | CAGR: 5.4%: AMR
Rise in demand for PA-6 in the electrical and electronics sector and surge in demand for electric vehicles drive the growth of the global polyamide market. The market across Asia-Pacific held the largest share in 2019, accounting for around one-third of the market. The Covid-19 outbreak temporarily interrupted the activities of big end-use polyamide industries, which hampered the overall revenue flow.
As per the report published by Allied Market Research, the global polyamide market was pegged at $25.4 billion in 2019, and is projected to reach$40.6 billion by 2028, growing at a CAGR of 5.4% from 2021 to 2028.
Rise in demand for PA-6 in the electrical and electronics sector and surge in demand for electric vehicles drive the growth of the global polyamide market. However, the fluctuating crude prices hinder the market growth. On the contrary, favorable government policies encouraging electric vehicles would open lucrative opportunities for the market players in the future.
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· The Covid-19 pandemic and followed lockdown posed several challenges for industry participants, such as disrupted supply chains, logistical difficulties in shipping end goods, and recruiting staff from quarantine.
· The Covid-19 outbreak temporarily interrupted the activities of big end-use polyamide industries, which hampered the overall revenue flow.
The global polyamide market is segmented on the basis of type, application, end-use industry, and region.
Based on type, the aliphatic polyamides segment dominated the market in 2019, accounting for nearly90% of the market. However, the aromatic polyamides segment is projected to register the highest CAGR of 6.5% during the forecast period.
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On the basis of application, the polyamide fibers & films segment held the lion’s share in2019, contributing to nearly three-fifths of the market. However, the engineering plastics segment register the highest CAGR of 5.9% during the forecast period.
The global polyamide market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2019, accounting for around one-third of the market. Moreover, the region is estimated to manifest the highest CAGR of 6.8% during the forecast period.
The global polyamide market includes an in-depth analysis of the prime market players such as Arkema SA, Ascend Performance Materials LLC, Evonik Industries AG, BASF SE, Koch Industries, Gujarat State Fertilizers & Chemicals Limited (GSFC), Mitsubishi Chemical Holdings, Lanxess, Radici Group, and Royal DSM.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and" Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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