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(Medical-NewsWire.com, March 06, 2024 ) The report "Polyamide Market by Type (Polyamide 6, Polyamide 66, Bio-Based & Specialty polyamide), Application (Engineering Plastics, Fiber), and Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Global Forecast to 2028", is projected to grow from USD 43.8 billion in 2023 to USD 55.7 billion by 2028, at a CAGR of 4.9% from 2023 to 2028.
Browse in-depth TOC on "Polyamide Market”
274 - Market Data Tables
44 - Figures
242 - Pages
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By type, the bio-based & specialty polyamide segment is estimated to be the fastest growing segment of the global polyamide market during 2023 to 2028.
In terms of value, the bio-based & specialty polyamide segment, by product, is projected to be the fastest growing segment during the forecast period. It is made from renewable sources like castor oil or plants and offer sustainability without compromising key properties. Bio-nylon caters to various industries, including automotive, textiles, and packaging, while reducing emissions and fossil fuel dependence and aligning with the circular economy. These properties of bio-based polyamides which contribute to a circular economy are expected to boost the overall polyamide market.
By application, the engineering plastics segment is projected to register highest CAGR of the global polyamide market during 2023 to 2028.
By application, the engineering plastics segment is projected to be the fastest-growing segment of the global polyamide market during the forecast period in terms of volume. They offer exceptional mechanical strength, thermal stability, and chemical resistance. These versatile plastics are crucial in automotive, aerospace, electronics, and consumer goods industries for producing durable, high-performance components and products which propel the overall polyamide market expansion.
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By region, the Middle East & Africa is estimated to be the fastest growing segment of the global polyamide market during 2023 to 2028.
By region, Middle East & Africa is estimated to account for the fastest-growing region of polyamide market from 2023 to 2028. The automotive, power, manufacturing sectors, and infrastructural developments are the key drivers for engineering plastics such as polyamide in Middle East & Africa. UAE and Saudi Arabia are the major markets in the region. These are supported by rising income and increased demand for electronics products which boost the polyamide demand in the region.
Polyamide Market Key Players
The major players operating in the polyamide market include BASF SE (Germany), Celanese Corporation (US), Arkema (US), Asahi Kasei Corporation (Japan), Evonik Industries AG (Germany), Kuraray Co., Ltd. (Japan), Toray Industries, Inc. (Japan), Envalior (Germany), UBE Corporation (Japan), Formosa Chemicals & Fibre Corp. (Republic of China), SABIC (Saudi Arabia), Advansix (US), DuPont de Nemours, Inc. (US), Huntsman International LLC (US), EMS Grivory (Switzerland), DOMO Chemicals (Belgium), Ascend Performance Materials (US), Mitsubishi Chemical Advanced Materials (Switzerland), Invista (US), and RadiciGroup (Italy), and others.
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Another major player is Angus Fire (UK). The company is one of the leading and oldest manufacturers of firefighting foam and has established its brand in different regions. It has a wide geographical presence across North America, South America, APAC, Europe, and the Middle East & Africa. The company manufactures various types of foams for differing end-use industries, such as oil & gas, aviation, marine, mining, and others.
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