Email
Print
Bio-Polyamide, Specialty Polyamide & Precursors Market - Forecast(2023 - 2028)
Bio-Polyamide, Specialty Polyamide & Precursors Market Overview
Bio-Polyamide,
Specialty Polyamide & Precursors Market Report
Coverage
The
"Bio-Polyamide, Specialty Polyamide & Precursors Market Report – Forecast
(2022-2027)” by IndustryARC, covers an in-depth analysis of the following
segments in the Bio-Polyamide, Specialty
Polyamide & Precursors Market.
Key Takeaways
- Aliphatic polyamides held a significant share in the Bio-Polyamide, Specialty Polyamide & Precursors Market in 2021. Its wide range of characteristics, along with its high melting point and excellent abrasion resistance, made it stand out in comparison to other types of bio-polyamides in the market.
- Automotive industry held the largest share in the Bio-Polyamide, Specialty Polyamide & Precursors Market in 2021. Their properties such as high abrasion resistance, high thermal resistance and more, make them ideal for use in the automotive sector.
- Asia-Pacific dominated the Bio-Polyamide, Specialty Polyamide & Precursors Market in 2021, owing to its increasing demand from the automotive sector in the region.
- A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Bio-Polyamide, Specialty Polyamide & Precursors Market Report.
Figure: Bio-Polyamide, Specialty Polyamide & Precursors Market Share, by Geography, 2021 (%)
For More Details on This Report - Request for Sample
Bio-Polyamide, Specialty Polyamide & Precursors Market Segment Analysis – by Type
Aliphatic polyamides
held a significant Bio-Polyamide, Specialty Polyamide & Precursors Market
share of over 20% in 2021, owing
to its increasing demand due to the benefits it offers over other types of polyamides.
Aliphatic polyamides offer better resistance to abrasion, chemicals
and corrosion in comparison to aromatic polyamides. They also have higher
electromagnetic resistance, thermal & wear resistance, higher strength, insulation
properties and flexibility as compared to aromatic polyamides. Hence, all of
these properties and benefits are driving its demand over other types of
polyamides, which in turn, is expected to boost the market growth during the
forecast period.
Bio-Polyamide, Specialty Polyamide & Precursors
Market Segment Analysis – by
End-use Industry
The automotive
industry held the largest Bio-Polyamide, Specialty Polyamide & Precursors Market
share of over 25% in 2021, owing
to the increasing automobile production across the world. According
to the International Organization of Motor Vehicle Manufacturers (OICA), the
total production of passenger cars in South America, Asia-Pacific and Africa
increased by 11%, 7% and 8% respectively in 2021 as compared to 2020. Bio-polyamide (also known as nylon) is primarily derived from renewable resources such as sebacic acid, undecenoic acid, castor
oil and others. They are used in the automotive
industry in various components such as automobile structural parts, engine
covers and other automobile components. Thus, such
surging production from the automotive sector across the world is expected to expand the Bio-Polyamide, Specialty Polyamide & Precursors market size during the forecast period.
Bio-Polyamide, Specialty Polyamide & Precursors Market Segment Analysis – by Geography
Asia-Pacific held a dominant Bio-Polyamide, Specialty Polyamide & Precursors Market share of over 47% in the year 2021. The consumption of bio-polyamide, specialty polyamide & precursors is particularly high in this region due to its increasing demand from the automotive sector. Recent insights published by the OICA (International Organization of Motor Vehicle Manufacturers) during the fourth quarter of 2020 state that around 25 million, 3.5 million, 8 million and 3.4 million units of vehicles were produced in China, South Korea, Japan and India, respectively, which in turn, contributed to approximately 50% of the global automobile production during the year 2020. Thus, such an increase in automobile production across the region is expected to accelerate market growth during the forecast period.
Bio-Polyamide, Specialty Polyamide & Precursors Market Drivers
An increase in automobile production
Bio-Polyamide, Specialty Polyamide & Precursors are primarily used in the automotive
industry for various interior and exterior applications, owing to their high
abrasion resistance, high thermal resistance, wear resistance and excellent
noise-dampening properties. According to the German Association of Automotive
Industry, the new registration of motor vehicles during the fourth quarter of
2020 reached up to 16,763 units in Europe, 37,467 units in Asia, 3080 units in
South America and 17,421 units in North America. Hence, an increase in global
automotive production is expected to increase the demand for bio-polyamide and specialty
polyamide for use in various components of an automobile, owing to their above-mentioned properties. This is expected to accelerate market growth in the
upcoming years.
Growth of the textile industry
Bio-polyamide (also known as
nylon) is primarily derived from renewable
resources such as sebacic acid, undecenoic acid, castor oil and more. They are used in the production of fibers and fabrics utilized in the
textile industry. Polyamide fibers and fabrics are relatively cheaper,
lightweight and offer greater elasticity and flexibility, which make them ideal
for use in the textile industry. In
2021, Spinnova invested US$4.5 million in the development of the new textile
production facility in Finland. The development of the new facility began in
March 2022 and is scheduled to be completed by mid-2023. Hence, such surging growth of the textile industry is anticipated
to drive market growth in the upcoming years.
Bio-Polyamide, Specialty Polyamide & Precursors Market Challenge
Availability of substitutes may confine the market growth
Bio-polyamides have several substitutes such
as bio-polybutylene terephthalate (PBT), bio-polyurethane, bio-polyester and
others in the market. These substitutes have similar physical properties, performance and other
similar factors which may restrict the growth of the market. Bio-polybutylene
terephthalate (PBT) is widely used as a substitute for bio-polyamides in major
end-users such as automotive, textile and more, owing to their range of
benefits. Bio-polybutylene terephthalate offers excellent impact resistance, strength,
insulation properties, stain resistance and high resistance to UV rays and
environmental changes as compared to bio-polyamides. Thus,
the availability of
such alternatives with similar properties may limit the growth of the Bio-Polyamide, Specialty Polyamide & Precursors industry during
the forecast period.
Bio-Polyamide, Specialty Polyamide & Precursors Industry Outlook
Technology launches, acquisitions and increased R&D activities are
key strategies adopted by players in the Bio-Polyamide,
Specialty Polyamide & Precursors Market. The top 10 companies in the Bio-Polyamide,
Specialty Polyamide & Precursors Market are:
- Arkema
- Asahi Kasei Corporation
- BASF SE
- DOMO Group
- E. I. Dupont De Nemours & Company
- Evonik Industries AG
- Formosa Plastic Group
- Honeywell International Inc.
- Huntsman Corporation
- Invista S.A.R.L
Recent Developments
- In January 2022, BASF announced its plan to build a new hexamethylene diamine (HMD) plant in France. HMD is a precursor that is primarily used in the production of high-quality polyamide 6.6. The new plant is scheduled to be operational in 2024.
- In November 2021, Arkema announced its plan to launch a new bio-based polyamide 11 powder plant in China as a part of the company’s expansion plan in Asia. The plant is expected to become operational in the first quarter of 2023.
- In January 2020, BASF acquired Solvay’s polyamide (PA 6.6) business. The main motive of the acquisition is to enhance the company’s access to growth markets in Asia and North & South America.
Relevant Reports
Report Code: CMR
0494
Report Code: CMR 1032
Report Code: CMR
56082
For more Chemicals and Materials Market reports, please click here