LONDON--(BUSINESS WIRE)--The global polyamide resins market size is poised to reach USD 2.29 billion by 2023, according to a new report by Technavio, progressing at a CAGR of close to 6% during the forecast period.
“Apart from the replacement of conventional resins by polyamide resins, the growing popularity of bio-based polyamide resins and rising adoption of recycled polyamide resins are some of the other major aspects expected to boost the market growth during the forecast period,” says a senior analyst at Technavio. Request Free Sample Pages
The market is driven by the replacement of conventional resins by polyamide resins. In addition, increasing application of polyamide resin in the automotive industry is anticipated to further boost the polyamide resins market during the forecast period.
Polyamide resins are increasingly replacing conventional resins owing to their superior properties. These resins exhibit properties such as excellent wear resistance, high mechanical strength, and high thermal stability. They also possess properties such as excellent flame retardation capability and good mechanical and barrier properties. Owing to the high temperature and electrical resistances, polyamide resins are considered high-performance plastics and are widely used in automotive and transportation, electrical and electronics, and consumer goods applications. They are also widely used in chemical plants as the polyamide resins offer excellent chemical resistance because of their crystalline structure. Such superior properties of polyamide resins, along with their increasing applicability in end-user industries are likely to fuel the growth of the market.
Furthermore, the increasing production of automobiles will drive the demand for polyamide resins due to the consistent demand for reduction of weight in new vehicles, over the years. Globally, the implementation of stringent automobile emission control norms and concerns regarding fuel efficiency have compelled automakers to take measures to reduce the weight of vehicles. Therefore, owing to the high heat and chemical resistance, superior mechanical properties, and moldability, polyamide resins are used in the automotive industry as a replacement of metal parts and for vehicle weight reduction. Such features of polyamide resins are likely to boost the expansion of the market during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Arkema SA
- BASF SE
- Celanese Corp.
- DuPont de Nemours Inc.
- Evonik Industries AG
- Koninklijke DSM NV
- Mitsubishi Chemical Holdings Corp.
- Solvay SA
- Toray Industries Inc.
- Unitika Ltd.
Market Segmentation by Category and Product Types:
The polyamide resins market can be broadly categorized into the following type:
- Reactive polyamide resins
- Non-reactive polyamide resins
Key Regions for the Polyamide Resins Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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