Specialty Polyamides Market Grows Preference for Polyamides and Recyclability Quality to Boost Specialty Polyamides Market $4.37 billion by 2029, States Exactitude Consultancy

The consumption of specialty polyamides, including in the automotive and electronics industries, has increased significantly in recent years. Due to the increasing demand for environmentally friendly, green alternatives, it is predicted that the penetration of bio-based specialty polyamides will steadily increase in the coming years.

PUNE, India, September 21, 2022 /PRNewswire/ — The global specialty The market size of Polyamides is expected to increase to $4.37 billion by 2029, which translates to a CAGR of 6.10%. Asia Pacific will have the largest sub-segmental growth in the region, with an estimated value of $2.60 billion in 2021.

Specialty Polyamide is a division of Polyamides that includes various polyamides that have superior properties such as recyclability, light weight, performance and application over general polyamides. Synthetic polyamide is replaced by special polyamide. It is preferred because it is lightweight and offers excellent performance, flexibility, toughness and abrasion resistance. The use of specialty polyamides in the automotive and electronics industries has increased significantly in recent years.

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Specialty Polyamides Market by Type (Polyamide 6/10, Polyamide 6/12, Polyamide 4/6, Polyamide 10, Polyamide 11, Polyamide 12), Product (Long Chain, High Temperature, MXD6/Para), Application (Automation & Transportation, Electrical & Electronics, Consumer Goods & Retail, Energy, Industrial Coatings, and Others) and Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global trends and forecast from 2022 to 2029

Global demand for specialty polyamides is increasing due to advances in chemical engineering. The usage of specialty polyamides in various industries plays an essential role in the growth of specialty polyamides market. The end uses of specialty polyamides span many industries. Polyamides are often used in the textile industry as a substitute for silk and cotton.

Recent Developments

  • in the March 2020: To diversify its specialty chemicals offering, Huntsman International LLC acquired CVC Thermoset Specialties, a specialty chemicals manufacturer in North America.
  • in the January 2020: In order to expand its polyamide capacities with state-of-the-art and well-known products to offer superior engineering plastics solutions, BASF SE bought Solvay’s polyamide (PA 6.6) business.
  • in the May 18, 2020Huntsman Corporation acquired CVC Thermoset Specialties for the United States 300 million dollars. As part of this acquisition, Huntsman Corporation will acquire all of CVC Thermoset Specialties’ businesses, including composites, thermosets, adhesives and others. This acquisition helped Huntsman Corporation expand its Advanced Materials portfolio.

That Asia Pacific The region is expected to dominate the global specialty polyamides market.

The region accounted for a lion’s share of global automobile production, as well as the production of electronics and related products. It is the world’s largest producer and accounts for around 51% of global production. Increasing consumption in automotive-related applications, especially in China and India, is expected to drive the growth of the specialty polyamides market in the region during the forecast period. The demand for these specialty polyamides is expected to increase steadily North America and Europemainly due to the increasing demand for bio-based materials.

Report scope:

Report Attribute/Metric

details

market size

$4.37 billion by 2029

$2.60 billion by 2021

CAGR

6.10% (2022-2029)

base year

2021

forecast period

2022-2029

Historical data

2017

Forecast Units

Value (Billion USD)

report coverage

Sales Forecast, Competitive Landscape, Growth Factors and Trends

Covered Segments

Material type, aircraft type

Regions Covered

North America, Europe, Asia Pacific and Rest of the World (RoW)

key provider

Arkema SA, Basf Se, Dowdupont, EI Du Pont De Nemours And Company, Evonik Industries Ag, Invista, Koninklijke Dsm NV, Kuraray Co. Ltd, Mitsubishi Engineering-Plastics Corporation, Ube Industries Ltd.

Important market opportunities

Reducing the cost of carbon filament

Important market drivers

Keen interest in composites for the aerospace industry.

scope of customization

Free report customization (equivalent to up to 8 analyst business days) with purchase. Addition or change of country, regional and segment scope.

Prices and purchase options

The entire organization can use the report. It can be printed and shared. Delivery in PDF and Excel.

Key Highlights

  • The size of the global Specialty Polyamides Market has been assessed $32 billion in 2021. The market is expected to keep growing $32.96 billion 2022 to $40 billion to 2029, with a CAGR of 3.0% over the forecast period 2022 to 2029
  • Based on product, specialty polyamides market is segmented into polyamide 6, polyamide 66, bio-based polyamide and specialty polyamide. Polyamide 6 is expected to have an estimated market value of $20,026 million grow at a CAGR of 2.8% through 2029.
  • Based on Application, the specialty polyamides market can be segmented into engineering plastics and fibers. Engineering plastics will account for the largest market share with an estimated market value $23,015 million at a CAGR of 2.9% in 2029
  • The market for specialty polyamides can be divided geographically North America, Europe, Asia Pacificand the rest of the world. Asia Pacific will experience the largest market share with an estimated value of $18,154 million in 2029, growing at a CAGR of 3.9%

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Specialty Polyamides Market by Type (Polyamide 6/10, Polyamide 6/12, Polyamide 4/6, Polyamide 10, Polyamide 11, Polyamide 12), Product (Long Chain, High Temperature, MXD6/Para), Application (Automation & Transportation, Electrical & Electronics, Consumer Goods & Retail, Energy, Industrial Coatings, and Others) and Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global trends and forecast from 2022 to 2029

That Specialty Polyamide market competitive landscape provides details by competitor.

Important actors are strongly represented in developed and developing countries. Major manufacturers operating in the global Specialty Polyamide market include:: Arkema Sa, Basf Se, Dowdupont, EI Du Pont De Nemours And Company, Evonik Industries Ag, Invista, Koninklijke Dsm NV, Kuraray Co. Ltd, Mitsubishi Engineering-Plastics Corporation, Ube Industries Ltd. and other.

Key Market Segments: Specialty Polyamides Market

Specialty Polyamides Market, by Type, 2020-2029 (Million USD)

  • Polyamide 6/10
  • Polyamide 6/12
  • Polyamide 4/6
  • Polyamide 10
  • Polyamide 11
  • Polyamide 12

Specialty Polyamides Market, by Product, 2020-2029, (Million USD)

  • long chain
  • High temperature
  • Mxd6/para

Specialty Polyamides Market, by Application, 2020-2029, (Million USD)

  • Automation & Transportation
  • electric
  • Consumer Goods & Retail
  • energy
  • Industrial coatings
  • Other

Specialty Polyamides Market by Region, 2020-2029 (Million USD)

  • North America
  • Europe
  • Asia Pacific
  • South America
  • middle East and Africa

Key drivers and restraints of Specialty Polyamide market

  • The market for specialty polyamides has grown rapidly in recent years. This is mainly due to the high performance of specialty polyamides, which have excellent mechanical and thermal properties, as well as improved moisture and temperature resistance. Specialty polyamide is important to address several issues related to fuel efficiency. The increasing use of specialty polyamides in the automotive and transportation industries is expected to drive the specialty polyamides market during the forecast period.
  • The increasing use of specialty polyamides in the automotive industry due to their lightweight properties as well as growing concerns about fuel efficiency are driving the specialty polyamide market. The market for specialty polyamides is driven by strict government regulations for environmental safety. The majority of specialty polyamides come from natural, recyclable sources. This is a major driving force in the specialty polyamides market. However, the specialty polyamides market is hampered by the high cost of specialty polyamides. Environmental safety concerns are expected to increase and create new opportunities in the specialty polyamides market.

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