Thermoplastic Polyamide Elastomers Market - Forecast(2023 - 2028)

Thermoplastic Polyamide Elastomers Market Overview 

Thermoplastic polyamide elastomers market size is forecast to reach US$2.6billion by 2027, after growing at a CAGR of 5.7% during 2022-2027. Thermoplastic polyamide elastomers are thermoplastic block copolymers based on nylon and polyethers that have high efficiency and strong hydrogen-bonding. The structure and molecules of the thermoplastic polyamide elastomers are nuclear magnetic resonance and endure higher intact performance. Also, thermoplastic polyamide elastomers have multiple advantages such as reduced creep, good heat aging, and increased solvent resistance, this results in enhancing the durability of the products. Moreover, the thermoplastic polyamide elastomers market is majorly driven by the growth of the sports and leisure industry. Additionally, thermoplastic elastomers polyamide growing demand from the medical sector is also propelling the thermoplastic polyamide elastomers industry growth.

COVID-19 Impact 

The Covid-19 pandemic negatively impacted the growth of the thermoplastic polyamide elastomers. In the year 2020, major sports events were canceled or delayed because of the Covid-19 pandemic. For instance, in the year 2020, major sports events such as Tokyo Olympics, Euro 2020 Championship, ICC Men's T20 World Cups, and more were delayed because of the Covid-19 pandemic. Hence, due to the cancellation and delay of such sports events, the thermoplastic polyamide elastomers market suffered losses. However, with a limited capacity of audiences and more such measures in sports events resulted in revenue benefit for the thermoplastic elastomers market. Also, in the long run, the Covid-19 pandemic impact will be lowered, this will lead to the thermoplastic polyamide elastomers industry growth scenario as it was before the Covid-19 time.

Report Coverage 

The report: "Thermoplastic Polyamide Elastomers Market Report –Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Thermoplastic Polyamide Elastomers Industry. 

Figure: North-America Thermoplastic Polyamide Elastomers Market Revenue, 2021-2027 (US$ Billion) 

Thermoplastic Polyamide Elastomers MarketSegment Analysis – By Product Type 

The polyether-amide (PEBA) held the largest share in the thermoplastic polyamide elastomers market in 2021 and is growing at a CAGR of 5.4% during 2022-2027. Polyether-amide block copolymers (PEBA) are economically relevant forms of thermoplastic polyamide elastomers, which make them ideal for applications in sports and leisure, textile and apparel, and more. This is due to several characteristics, including excellent flex fatigue and low-temperature flexibility, as well as chemical, weathering, wear, and heat resistance. These characteristics make these elastomers an ideal choice for applications that demand long-term endurance in a variety of chemical conditions and temperatures. Thus, due to these characteristics, the polyether-amide (PEBA) demand is increasing for the application in thermoplastic polyamide elastomers, also leading to the segmental growth of the market. 

Thermoplastic Polyamide Elastomers MarketSegment Analysis – By End-Use Industry 

The sports and leisure industry held a significant share in the thermoplastic polyamide elastomers market in 2021 and is growing at a CAGR of 5.9% during 2022-2027. Thermoplastic polyamide elastomers are used in the sports industry for damping system components and outsoles of high-end shoes such as racing, track & field, football, baseball, basketball, trekking, and so on, where its low density, damping capabilities, energy return, and flexibility are valued. Moreover, thermoplastic polyamide elastomers are also ideal for winter sports since it allows for the creation of the lightest alpine and nordic ski boots while yet giving excellent resistance to the elements (low temperatures, UV expositions, moisture). The ongoing and upcoming sporting events at the global level are anticipated to drive up the thermoplastic polyamide elastomers market growth. For instance, the FIFA World Cup will be held in Qatar from November to December 2022, the Summer Olympics with games such as running, badminton, and more will be conducted in Paris, France in 2024, and more such sports events will create an increase in demand for sports accessories. Hence, the increasing sports and leisure industry is projected to boost the demand for thermoplastic polyamide elastomers, also benefiting the market growth. 

Thermoplastic Polyamide Elastomers MarketSegment Analysis – By Geography

North America held the largest share in the thermoplastic polyamide elastomers market in 2021up to36%. Industries such as sports and leisure, medical, and more are growing in the North American region. This growth is ultimately accelerating the thermoplastic polyamide elastomers market growth. In the U.S the government is taking initiatives to increase sports youth participation in the country. In March 2019, the HHS Office of Minority Health and the Office of Women's Health, both within OASH, announced a grant opportunity called Youth Engagement in Sports.?The YES Initiative aims to uncover the features of effective collaborations that boost physical activity and nutrition through increasing involvement in sports. Moreover, according to Select USA (U.S. Department of Commerce), the medical device industry of the U.S is projected to grow to US$208 billion by 2023. Therefore, the growing promotion of sports by the government and medical industry growth in the North American region is propelling the growth of the thermoplastic polyamide elastomers market.