Polyamide Market: Overview
Polyamide is a polymer with versatile properties and high demand in various end user segments such as automotives, textile, electronics, machinery, packaging and coatings among others. Polyamides occur naturally in form of wool, silk among others and can be synthesized artificially. Nylon, polyamide 6 and aramid are amongst artificially made polyamides. Artificial polyamides exhibit properties such as resistance to wear, good mechanical properties, low permeability to gases and chemical resistance. Bio-based polyamides are gaining demand in market owing to its eco- friendly nature. Polyamide 6 is dominant type among polyamides in terms of revenue and consumption owing to its cost to performance factor.
Polyamide Market: Drivers
Growing automotive industry in developed and developing countries is expected to drive the polyamide market. Polyamides are preferred by automotive manufactures due to their high performance at low cost. Owing to current rise in raw materials prices in automotive industry, manufacturers are shifting towards polyamides for various applications such as coatings and films. The growth in automotive industry is due to the rising disposable income of consumers and increase in transportation activities across the world. Increasing demand from applications in electronics and coatings industry is expected to drive the market. Increase in the construction activities and rising population are major driving factors for electronics and coatings industry. Low cost of production and high performance factors such as chemical & wear resistance and insulation makes polyamide ideal choice to be used in electrical and electronic applications.
Polyamide Market: Opportunities
Research and development in the field of bio-based and specialty polyamide for different applications is expected to provide immense opportunities for players in the near future. The manufacturers, associations and end product manufactures are investing in R&D activities. Polyamide applications in food contact & domestic products and specialty polyamides in automotive to replace metals are expected to provide opportunities for players in this market. Technology modifications such as bio-based polyamide are expected to drive the market in near future owing to eco-friendly properties. Government regulations and rising health awareness in developing countries are expected to fuel the bio-based polyamide market in the near future. Complex manufacturing process of polyamide and availability of the precursors are expected to hamper polyamide market growth. Degrading properties due to moisture absorption is another factor which may hamper market growth. Companies are developing bio-based and specialty polyamides for different applications including medical. For instance, Akrema launched specialty polyamide, Pebax, Rilsan and Rilasmid, which are of medical grade. These specialty polyamides offer advantage over other polyamides with unique specifications such as gel rating, moisture content and viscosity.
Polyamide Market: Region-wise Outlook
North America and Europe are dominating the polyamide market with growing demand from automotive and electronics industry. Major players are located in the same region with high production capacities and R&D centers. Growing demand from Asia-Pacific region and other developing countries due to increased applications of the polyamide is expected to boost the market. The Eastern and Central European countries, South East Asian and Latin American nations are expected to experience higher growth owing to increase in auto sales, rising construction activities, improving civil infrastructure by government and other events.
The key players in the polyamide market are BASF SE, Honeywell International Inc. Formosa Group, Invista, Li Peng Enterprise Co., Du Pont de Nemours and Company, Radici Group, Royal DSM N.V., Solvay, Ascend Performance Materials Inc. Shenma Industrial Co. Ltd., Huntsman, Koch industries, Royal DSM N.V., Lanxess, Rhodia, Arkema and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.