High Performance Polyamides Market is segmented by Type (PA 11, PA 12, PA 46, PA 9T); by Manufacturing Process (Injection, Blow Molding); by End-Use Industry (Automotive, Electrical & Electronics, Industrial, Medical); by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2023-2032
High Performance Polyamides Market Overview
Usually a subset of thermoplastic synthetic resins in the polyamide family, the high performance polyamides are defined as when it has more than 55% of carboxylic acid portion of the repeating unit in the polymer chain. The ever expanding automotive industry around the world and the rise in demand for high-performing specialized chemicals from this industry is one of the major factors predicted to drive the demand for high performance polyamides (HPPA) during the forecast period. Royal DSM NV, E.I. du Pont de Nemours and Company, and SABIC are some of the significant parties in the market for high performance polyamides.
The global high performance polyamides market was valued at USD 2.7 billion in 2023. The market is expected to expand at a CAGR of 7.6% from 2023-2032, and is expected to cross value of USD 8.3 billion by the end of 2032.
High Performance Polyamides Market Drivers
Some key drivers for the high performance polyamides market are:
- Increasing Production of Vehicles Globally: Backed by the rise in demand for different types of vehicles, the production of vehicles worldwide is also increasing. As HPPAs are used in manufacturing various automotive parts, hence, the demand for these high performance polyamides are increasing among the automotive manufacturers.
- Growing Demand for HPPAs from the Electrical Industry: The demand for consumer and industrial electrical and electronic products and equipment are increasing worldwide. Owing to the high use of HPPAs in this industry, such as for high voltage application, as well as microelectronics, the demand for these polyamides are expected to increase.
- Numerous Benefits Associated with HPPAs: The high performance polyamides are known to have excellent thermal, electrical, mechanical and chemical properties. As a result of this, it is widely being used across several end-use industries.
- Surge in Manufacturing of Pipes and Insulation Materials: The production of pipes as well as insulation materials for use in several end-use applications is increasing. Backed by the excellent chemical properties of HPPAs, it is widely being used to manufacture pipes and insulation materials, and hence, an uptick in demand for these chemicals from these industries.
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High Performance Polyamides Market Challenges
Some challenges facing the high performance polyamides market are:
- High Cost of the Product: The high performance polyamides usually are priced a bit higher than its traditional substitutes. As a result, the demand for the product is severely hampered.
- Complicated Manufacturing Process: The manufacturing of HPPAs is very complicated as the high temperature environment is required. Also, due to lack of technical expertise, manufacturers often face severe complications during the manufacturing process.
- Lack of Quality Compounders: The compounding of high performance polyamides, as compared to the available conventional polyamides, is much more complex. As a result of this, the demand for the product is brutally hampered.
High Performance Polyamides Market Segmentation
Segmentation of high performance polyamides market are:
- By Type
- PA 11
- PA 12
- PA 46
- PA 9T
- By Manufacturing Process
- Injection
- Blow Molding
- By End-Use Industry
- Automotive
- Electrical & Electronics
- Industrial, Medical
- By Region
- North America (U.S., and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Rest of Europe)
- Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
- Latin America (Mexico, Argentina, Rest of Latin America)
- Middle East and Africa
High Performance Polyamides Market: Report Scope |
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Base Year |
2023 |
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Base Year Market Size |
USD 2.7 Billion |
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Forecast Year |
2023-2032 |
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Forecast Year Market Size |
USD 8.3 Billion |
|
CAGR Value |
7.6% |
|
Segmentation |
|
|
Challenges |
|
|
Growth Drivers |
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Timeline considered for all these studies will be:
2023 – Base Year
2023 – Estimated Year
2023-2032 – Forecast Period
High Performance Polyamides Market Regional Synopsis
The market for high performance polyamides in the Asia Pacific is expected to register the largest market share by 2032. The presence of a strong electrical and electronics industry in the region, along with the increase in production of electrical and electronics goods, is one of the major factors predicted to drive the market growth for HPPAs in the region. Further, the growing production of vehicles in the region is also poised to contribute to the regional market growth.
Besides this, the high performance polyamides market in Europe is anticipated to have a remarkable market share, supported by the growing demand for the product from the automotive industry in the region. The European region is known to have some of the renowned vehicle manufacturing brands. These brands continuously work on including materials into their manufacturing process which can levy their product quality.
High Performance Polyamides Market Key Players
Some key players in the high performance polyamides market are:
- Royal DSM NV
- E.I. du Pont de Nemours and Company
- SABIC
- BASF SE
- Evonik
- Arkema SA
- Lanxexx
- Toray Industries Inc.
- Solvay
- RTP Company
- KURARAY CO., LTD.
- MITSUI CHEMICALS
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- Publication date: 21st February 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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