Global Specialty Polyamides Market is anticipated to register a steady single-digit growth over the next ten years. Polyamides comprise a variety of polymers that are composed of repeating units linked together by means of amide linkages. Specialty polyamides is a sub-group of polyamides and comprises several polymers that exhibit relatively superior properties and performance across several applications.
Relatively higher strength, rigidity, dimensional stability coupled with relatively superior chemical and thermal properties exhibited by these specialty polyamides, render them effective and efficacious alternative to conventional materials in several demanding applications. Some of the key polyamides that compose specialty polyamides market include PA 6/10, PA 6/12, PA 4/6, PA 10, PA 11, PA 12, among others.
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Over the recent past, consumption of specialty polyamides in automotive, and electronics applications, among others has witnessed a robust growth. Moreover, driven by increasing demand for eco-friendly, green alternatives, penetration of bio-based specialty polyamides is expected to witness a steady increase over the next few years.
Specialty Polyamides Market: Dynamics
Increasing focus on emission control has been witnessed in automotive industry over the recent past. This has prompted several of the industry participants to develop vehicles that are relatively lighter in weight. Metal-to-plastics conversion has been a prominent trend in the automotive industry over the past few years. Moreover, increasing demand for materials that exhibit better properties as compared to those exhibited by conventionally used materials in a variety of applications across diverse set of industries is expected to, in turn, drive the demand for specialty polyamides over the forecast period. Moreover, adoption of specialty polyamides, especially, in electronics application has witnessed a steady growth over the recent past. This coupled with anticipated steady growth in electronics production is expected to, in turn, drive the growth in consumption of specialty polyamides during the forecast period.
Adoption and use of an alternatives to conventional materials involve a rigorous, expensive and time consuming qualification process. This, coupled with relatively higher price points associated with some of the specialty polyamides is expected to act as an impediment to growth of global specialty polyamides market over the forecast period. Also, relatively lack-luster economic growth, especially, in key plastics consuming countries is expected to hinder the growth in demand for specialty polyamides over the forecast period.
Over the recent past, industry participants have channelized efforts towards capacity expansion, especially, for production of bio-based specialty polyamides. Moreover, in order to better cater to the increasing demand for these specialty polyamides, manufacturers are channelizing resources towards capacity expansions and new capacity additions, especially, in regions such as Asia Pacific. Besides, increasing focus on development of application-specific specialty polyamide product offerings are expected to be witnessed in the market over the next few years.
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Specialty Polyamides Market: Segmentation
Specialty Polyamides Market can be segmented on the basis of product type and application. On the basis of product type, global specialty polyamides market can be segmented in to as polyamide 6/10, polyamide 6/12, polyamide 4/6, polyamide 10, polyamide 11 and polyamide 12. On the basis of application, the market for specialty polyamides can be segmented as Automotive, Electrical & Electronics, Consumer Products, Building & Construction, Healthcare & Medical, Oil & Gas and Energy, Others.
Specialty Polyamides Market: Regional Outlook
Asia pacific region is expected to dominate the global specialty polyamides market over the forecast period. The region accounted for a dominant share in overall global automotive production so also in production of electronics and related products. Increasing consumption in automotive industry related applications especially in China, and India, among others is expected to drive market growth in the region over the forecast period. North America and Europe are expected to register steady growth in demand for these specialty polyamides owing, primarily, to increasing demand for bio-based materials.
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