Specialty Polyamide Market: Introduction
Specialty polyamide is a division of polyamides, which comprises different polyamides that hold superior properties such as recyclable, light weighted, performance, and application over the general polyamides. Specialty polyamide is used as a substitute for synthetic polyamide. It is preferred, as it is lightweight and provides high performance, flexibility, toughness, and abrasion resistance. During the last few year, consumption of specialty polyamide has significantly increased in automotive and electrical industries.
Specialty Polyamide Market: Key Segments
The global specialty polyamide market can be segmented based on type and application. Based on type, the specialty polyamide market can be classified into PA 6/10, PA 6/12, PA 10, PA 11, and PA 12. PA 11 and PA 12, together, account for considerable share of the specialty polyamide market due to their superior mechanical & thermal characteristics and improved humidity and temperature resistance. In terms of application, the global specialty polyamide market can be divided into automotive & transportation, electrical & electronics, consumer goods & retail, energy, and industrial coatings. The automotive & transportation segment accounts for a considerable share of the market, as it is extensively used to manufacture lightweight vehicles. Additionally, increase in demand for fuel efficiency and eco-friendly production drive the specialty polyamide market.
Specialty Polyamide Market: Trends & Developments
Increase in use of specialty polyamides in the automotive industry due to their lightweight and rise in concern toward fuel efficiency are key factors fueling the specialty polyamide market. Stringent government regulations for environment safety drive the specialty polyamide market. Furthermore, most of the specialty polyamide is made from natural sources which are recyclable and can be reused is the major factor driving the specialty polyamide market. However, high-cost of specialty polyamide inhibits the specialty polyamide market. Growing concern about environment safety is projected to create new opportunities in the specialty polyamide market.
Specialty Polyamide Market: Regional Outlook
Based on region, the global specialty polyamide market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific accounted for a dominant share of the specialty polyamide market due to the expansion of the automobile industry in this region. Additionally, the specialty polyamide market is expanding the region due to extensive use in electrical & semiconductor devices. Increase in disposable income fuels the transportation industry. This, in turn, is anticipate the drive specialty polyamide market in Asia Pacific. Europe and North America account for significant share of the specialty polyamide market due to high awareness among the people about the usage of eco-friendly substances. The specialty polyamide market in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace during the forecast period.
Specialty Polyamide Market: Key Players
Key players operating in the global specialty polyamide market include Evonik Industries AG, Arekma SA, BASF SE, E. I. du Pont de Nemours and Company, Koninklijke DSM N.V., Asahi Kasei Corporation, LG Chem, Ltd., INVISTA, Solvay S.A., and Radici Group.
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