Long-Chain Polyamide Market is segmented by Type (PA 11, PA 12, PA 610, PA 612); by End Use (Automotive, Electrical & Electronics, Industrial); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2023-2032
Long-Chain Polyamide Market Overview
A polyamide is defined as a polymer that is linked repetitively by amide bonds. A long-chain polyamide, unlike a conventional polyamide, possesses some unique compositions and properties, which makes it different than high-performance polyamides and conventional polyamides. The long-chain polyamides bridge the gap between conventional polyethylene and short-chain condensation polymers and promotes crystallization via van der Waals interactions. The long-chain polyamide market is expected to grow majorly on account of the presence of several beneficial properties of the chemical compound, for which, it finds multiple uses across different end-use industries. BASF SE, Celanese Corporation, and Arkema are some of the significant parties in the market for long-chain polyamide.
The global long-chain polyamide market was valued at USD 2.1 billion in 2023. The market is expected to expand at a CAGR of 6.2% from 2023-2032, and is expected to cross value of USD 3.4 billion by the end of 2032.
Long-Chain Polyamide Market Drivers
Some key drivers for the long-chain polyamide market are:
- Surge in Demand for Specialized Chemicals in the Automotive Industry: The automotive industry, in the recent years, has been witnessing an upsurge in the demand for different types of vehicles. With the rise in production of electric vehicles and vehicles that run on renewable energy sources, the need for vehicles with lower curb weight lists on the top among all the other priorities, amongst the vehicle manufacturers. As a result, the demand for specialized chemicals, such as long-chain polyamides, is increasing among the vehicle manufacturers, which is expected to drive the market growth in the coming years.
- Growing Research and Development for Developing High Quality Polymers: With the increase in investments by the chemical manufacturers on researching and developing high quality polymers for use across different end-use industries, the scope of opportunity for market expansion also significantly increases.
- Beneficial Properties of Long-Chain Polyamide: Polyamides are known to have exceptional dimensional stability, fatigue and crack resistance, as well as other chemical resistance properties. As a result, it is used across a variety of applications, thereby raising its demand among the end-user industries.
- Increasing Applications of Long-Chain Polyamide in the Electrical & Electronics Industry: The demand for different types of consumer and industrial electrical and electronic products is increasing. These products require specialty chemical compounds that has thermal and other chemical properties for several high-voltage applications. As a result, the demand for long-chain polyamide in this industry is predicted to increase, which in turn, is projected to boost the market growth.
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Long-Chain Polyamide Market Challenges
Some challenges facing the long-chain polyamide market are:
- Availability of Low-Cost Alternatives: The price of long-chain polyamide is usually too high and hence, the end-users are looking out for other low-cost alternatives, which have comparatively lower price. Such a factor is expected to lower the demand for the product, and impact negatively towards the market growth.
- High Price of the Product: Owing to the high price of long-chain polyamide, the demand for the product is severely impacted in price-sensitive markets.
- Stringent Government Regulations for Manufacturing Long-Chain Polyamides: The manufacturing of long-chain polyamides emits emissions, which is a major cause of concern for the environment. Owing to the presence of stringent government regulations to curb emissions from industries, the manufacturing of long-chain polyamides is brutally impacted.
Long-Chain Polyamide Market Segmentation
Segmentation of long-chain polyamide market are:
- By Type
- PA 11
- PA 12
- PA 610
- PA 612
- By End Use
- Automotive
- Electrical & Electronics
- Industrial
- 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
Long-Chain Polyamide Market: Report Scope |
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|
Base Year |
2023 |
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Base Year Market Size |
USD 2.1 Billion |
|
Forecast Year |
2023-2032 |
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Forecast Year Market Size |
USD 3.4 Billion |
|
CAGR Value |
6.2% |
|
Segmentation |
|
|
Challenges |
|
|
Growth Drivers |
|
Timeline considered for all these studies will be:
2023 – Base Year
2023 – Estimated Year
2023-2032 – Forecast Period
Long-Chain Polyamide Market Regional Synopsis
The Asia Pacific long-chain polyamide market is expected to grab the largest market share by 2032 owing to the growing demand for long-chain polyamide from the automotive industry. The manufacturing of electric vehicles (EVs) in China, Japan, and other nearby countries in the region has witnessed an uptick in growth, as a result of which, the demand for specialty chemicals among the vehicle manufacturers has increased drastically. Such a factor is hence projected to boost the market growth in the coming years.
On the other hand, the market in Europe is anticipated to grow significantly as a result of the presence of several vehicle manufacturing brands and their shift towards manufacturing electric vehicles. The vehicle manufacturing brands from the region are known to have a strong brand name globally and they manufacture premium category vehicles, where the use of specialty chemicals are increasing.
Long-Chain Polyamide Market Key Players
Some key players in the long-chain polyamide market are:
- BASF SE
- Celanese Corporation
- Arkema
- Asahi Kasei Corporation
- Evonik Industries AG
- Kuraray Co., Ltd.
- Toray Industries, Inc.
- Envalior
- UBE Corporation
- Formosa Chemicals & Fibre Corp.
- SABIC
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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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