Polyamide (PA) is a synthetic polymer substance, which is based around amide linkage. Available in both natural and artificial state, polyamide has great industrial applications. Apart from electrical and electronics, this material is used in the production of automotive and consumer goods. The polyamide market is expecting to witness the largest growth in terms of demand, production and business opportunities in the years to come. Segmented in various types, geographical demands and applications, this material market has a great potential as far as revenue and global expansion is concerned.
Polyamide Market Segmentation and Trends until 2018
This market is largely segmented based on the types, applications, industry verticals and global demands based on geography. PA 6, PA 6/6 and special bio-based PA are the three basic types of this material. As mentioned before, the material has numerous applications including in the fields such as automotive, machinery, electronics and electrical, film and coating, textiles, packaging and consumer goods. As far as the trends is global polyamide market are concerned, Asia Pacific region is the market leader with maximum consumption, demand and revenue.
As far as industry verticals are concerned, automotive industry has the greatest demand for these materials, which is followed by electrical and electronics and consumer goods. Textile and machinery industries also have recorded significant demand for polyamides. The market will cross the CAGR of 3% and more within the next five years. At this rate, the market is expected to reach at an estimated cost of more than USD 27 billion by the end of 2017. These figures are highly encouraging for new entrants and existing players in the industry.
Increased amount of global demands is the major reason for the increased production and expanding global market for polyamides. Many leading businesses are planning to invest in various emerging markets across the world. This trend has created great opportunities for small businesses in terms of expansion and collaborations. Amidst the prevailing growth of the conventional types including polyamide 6 and 6/6, bio-based polyamides are gaining popularity.
Bio-based polyamides cause less emission of carbon dioxide and are fully recyclable. As a result, great rise in the production and demand for this material is evident. Various industrial partnerships and increasing funds for eco-friendly substitutes are the driving reasons behind increased production and demand for this material. All these trends contribute towards creating exiting business opportunities for new businesses and leaders in other markets who are looking for investments in the polyamide market.
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