Polyether Block Amide Market - Forecast(2023 - 2028)

Polyether Block Amide Market size is forecast to reach US$833.2 million by 2027, after growing at a CAGR of 5.4% during 2022-2027. Globally, the increase in the demand for polyether block amide (PEBA), a thermoplastic elastomer comprising rigid polyamide blocks (PA), especially in the medical and healthcare industry and its usage to produce a wide variety of parts and components by injection molding is driving the market growth. Also, the increase in consumer spending in automotive, sportswear, and construction, along with efficient physical and chemical advantages such as elastomeric and thermoplastic characteristics, in structural applications are surging the demand for polyether block amide. Furthermore, the rise in the awareness regarding safety and protection in electrical and electronics applications, along with the increase in concentration of automotive manufacturers, especially in India and China, is estimated to drive the global PEBA market growth in the forecast period.

The COVID-19 outbreak widely affected the Polyether Block Amide Market over the year 2020. Owing to the nationwide lockdown, the production process of various goods in the end-use industry declined due to the non-functioning of the manufacturing plants. The domestic sales and export of different raw materials have also witnessed a halt during the COVID-19 outbreak. Economies of each sector got affected and resulted in stagnation of activities across the industries that uses polyether block amide. For instance, according to Eurostat, In April 2021, construction production decreased by 1.6% in the E.U. compared with March 2021; in the euro area, the decrease amounted to 2.2%. Additionally, after an unprecedented decline in March and April (-25.4%), construction in the E.U. region increased dynamically in May 2020 (21.6%) but has since stagnated. Thus, once the building and construction, and transportation activities get back on track and start functioning with total capacity, the market for global polyether block amide is estimated to incline in the upcoming years.

The report: “Polyether Block Amide Market Report – Forecast (2022 - 2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the polyether block amide industry.

The medical devices segment held the largest share in the Polyether Block Amide Market in 2021, due to the increasing health issues and modernization of healthcare infrastructure. In the healthcare sector, waterproof and breathable films, tubing, dental floss, and medical devices are manufactured using global polyether block amide. The increasing government investments in medical devices sector will drive the market for global polyether block amide drugs. For instance, according to the U.S. Food & Drug Administration, in 2022, the government announced US$5 million increase towards the improvement in the safety and security of medical devices and a total of US$8.4 Billion for investments in critical public health modernization, core food and medical product safety programs. Various organizations are focusing on improving the production of global polyether block amide to fulfil their growing demand. The rising government investment in medical devices, is predicted to uplift the global Polyether Block Amide Market growth.

The medical & healthcare industry held the largest share in the global Polyether Block Amide Market in 2021 and is expected to grow at a CAGR of 6.1% during 2022-2027. Global polyether block amide exhibits characteristics such as they easily compound with other polymers and additives for custom performance, they possess excellent dynamic properties due to low hysteresis, excellent impact resistance and retention of flexibility at low temperatures, consistent durometer and flexibility at room and body temperature, and a good resistance to most chemicals. The major usage of polyether block amide in the medical & healthcare industry is in the protection of floss by a coating, in catheters, and in barrier protection and washable films for gloves, gown, covers, bandages, and others. Globally, with the rising government investments in the medical and healthcare sector, the demand for polyether block amide is also estimated to rise. For instance, according to the Invest India, the Indian healthcare market is expected to reach US$ 372 billion by 2022 from US$ 190 billion in 2020. Thus, the rising government investments in the medical & healthcare sector is anticipated to drive the growth of the market over the forecast period.

North American region dominated the global Polyether Block Amide Market with a share of 41.3% in 2021 and is projected to dominate the market during the forecast period (2022-2027). The increasing demand for polyether block amide in paints and coatings, medical devices, adhesives & sealants, composites, conveyer belts & gears, wire & cables, home appliances, and others, has raised the demand for polyether block amide in the North American region. In North America, the Polyether Block Amide Market is also supported by the increasing growth and investments by the government in the end-use industries. For instance, according to the Government of Canada, in 2021, the government Invested US$46 Million in order to expand virtual health care services in Ontario. Additionally, according to the Institute of Printed Circuits (IPC) Economic outlook December 2021, the electronics industry, which includes categories such as components, loaded boards, computers, communications equipment, and consumer electronics is being increased by 2.6% in November 2021. The electrical and electronic sector sales have been increased by 30.6% as compared to 2019 and 12.8% in 2019-2021. Thus, the rising growth and increasing government investments in the end use industries is anticipated to drive the growth of the market over the forecast period.

In the building and construction industry polyether block amide finds usage in numerous applications such as in roofing membrane, weather-stripping, waterproofing, carpeting, bitumen modification, wall coverings, window & weather seals and others. In recent years, with the growing building and construction activities, the demand for polyether block amide is anticipated to rise. The building and construction activities are increasing rapidly in emerging economies such as in India, the United States, China, and other countries. For instance, according to the World Bank, in 2020, the building and construction industry reached about US$ 11.9 trillion, with an increase of about 4.2% from 2019. Thus, with the growth of the building and construction sector, the market for global polyether block amide will further rise over the forecast period.

Global polyether block amide in the automotive industry provides great advantages in preventing rust and corrosion on vehicle body parts. High-performance thermoplastic elastomers (TPEs) such as polyether block amide, comprising rigid polyamide blocks, are utilized in tires, to produce engine components, and interior and exterior parts by injection molding. Their properties such as light weight, wear resistance, durability, reduced emissions, makes driving safe and comfortable. Additionally, polyether block amide bonding reduces steps in the manufacturing processes, and hence, resulting in reduced cost. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in Austria, motor vehicle production increased from 86,300 units in 2020 to 92,000 units in the year 2021. Similarly, in USA, the production of motor vehicles increased from 62,39,401 units in 2020 to 68,57,182 units in the year 2021. Thus, the increasing automobile production is estimated to increase the requirement for polyether block amide in the automotive industry, which will boost the growth of the market.

Polyether block amide is obtained by polycondensation of a carboxylic acid polyamide with an alcohol termination polyether, with the usage of non-renewable raw materials, emissions of toxic gases and production of waste. Polyether block amides are recyclable in closed-loop systems. However, they degrade easily under UV exposure, creep under long-term loading, can fracture rather than deform under high stress. Thus, the drawbacks associated with the polyether block amide will create hurdles for the market growth in the forecast period.

Technology launches, acquisitions, and R&D activities are key strategies players adopt in the global Polyether Block Amide Markets. Global polyether block amide top 10 companies include: