According to MRFR, the Bio-Polyamides Market is projected to reach USD 221.43 Million by 2030 at a CAGR of 3.51% over the review period (2022-2030). The key trend in this sector is to move consumers' focus towards bio-based goods along with expanded research and development activities.
Coronavirus disease (COVID-19) outbreak and consequent lockdowns levied by governments in many countries briefly suspended the activities of major bio-polyamide end-use industries. The sector is, however, witnessing a downturn. Restrictions on travel tend to have a strong and immediate impact, and after the obligatory social distancing stops, things are supposed to return to normal circumstances. In addition, hazardous effects on human health can create obstacles to the growth of the market during the forecast period.
Drivers
Growing Adoption from Consumer Electronics Sector to Drive Market Growth
A major driving factor driver is that bio-polyamides have a unique property of low friction, which is favorable for many automotive products such as gears, bushings, and plastic bearings. This market's growth is propelled by the burgeoning automotive industry, the growing acceptance of bio-polyamides in the major end-use industries, and the flexible design and superior properties associated with bio polyamides. In addition, strict government controls on the excess use of synthetic polyamides add steam to the growth of the industry. Over the last few years, however, price increases in raw materials have consistently threatened demand development. On the basis of growing research and development activities, the Global Bio-Polyamides Market is projected to provide sufficient opportunities to expand the application areas of bio-polyamides. Moreover, the rising sector of consumer products is projected to disclose growth opportunities over the review period.
Opportunities
Growing R&D Investments to Create Growth Avenues for Market Players
Growing R&D activities are expected to extend the bio-polyamide application field, which is likely to become an interesting opportunity over the next few years. In the next few years, the increase in organic and natural goods consumption is projected to generate lucrative growth prospects for the global demand for bio polyamides.
Restraints
High raw material costs to Impede Market Growth
However, unstable prices of raw materials are pushing back the global development of this market. Factors such as the supply and price fluctuations of raw materials are anticipated to hamper the bio-polyamide industry's development.
Bio-Polyamides Market is fragmented on the basis of Type, Application, End-Use, and Region.
By Type
The market is divided into PA 6, PA 6, 6 and specialty polyamides on the basis of type. The highly favoured bio-based polyamide was based on form polyamide 6 (PA 6), while polyamides 6, 6 (PA 6,6) increased by 3.58 percent at their peak CAGR. PA-66 is suitable for use in applications such as electrical & electronics and automotive due to its higher module and improved wear resistance along with the ability to withstand lower moisture compared to PA-6.
By Class
By class, the global market has been segmented into aliphatic polyamides (nylon class) and semi-aromatic & aromatic polyamides. In contrast to semi and entirely aromatic polyamides, aliphatic polyamides are generated on a bigger scale. They are the most important class of thermoplastics for engineering.
By Application
On the basis of application, the industry is categorised into plastic and fibre detergent engineering. By accounting for 58.25 percent, the engineering plastic division has emerged as the leader and it is projected to expand during the analysis period at a CAGR of 3.48 percent. Owing to its recyclability, electromechanical resistivity, ductility, and creep resistance, the engineering plastic gained consumer attraction in different end-use industries. The automobile industry absorbs products, the engineering plastic's main customers are industrial and accounted for the bulk of sales.
By End-Use
On the basis of end-use, the market is segmented into automotive, textile, consumer goods, industrial, electrical & electronics, films & coatings, and others. The automotive industry emerged as major consumer of bio polyamides and accounted for nearly 40 percent global share and it is anticipated to surpass in the coming years. Nevertheless, the consumer goods market is rising at 3.27 percent and, reflecting competitive demand, has emerged as a highly potential end-use segment. This is attributed to the broader field of use of the consumer goods sector, along with the growing use of this industry of bio-polyamides.
The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.
APAC to Lead with Expansion of End-use Sectors
The Asia Pacific area led the global market in 2016 and is projected to expand during the forecast period at a CAGR of 3.70 percent. In particular, the country accounted for 44% of the worldwide market share, led by a strong contribution from the booming automotive industry. In major economies such as China, Japan, India, and South Korea, Asia Pacific has seen higher demand for automotive goods. In addition, China was the largest revenue producing country in this area and, by reporting an aggressive CAGR of 3.80 percent, generated total revenue of USD 32.36 million as of 2016. In addition, environmental regulations across developing regions are projected to boost the bio-polyamide market.
U.S. to be the Major Contributor for North America
In the global market for bio polyamides, North America is one of the main areas. North America produced revenue that was marginally higher than Europe. The U.S. is one of the profitable markets in North America, and has boosted demand for bio-polyamides by registering the second highest production of automobiles behind China. In addition, the growth of the industry is fueled by favourable government policies and technological developments in the automobile, electrical & electronics, and textile industries.
Growing R&D Investments to Drive Europe
As one of the most competitive countries, Europe has grown and dominated an equivalent market across the globe. Regional progress has been driven by European government policies and strict emissions requirements such as Euro 6, along with green initiatives. European CO2 emissions policies and green policies are expected to deliver promising opportunities for development in the coming years.
In terms of expansion, the Middle East & Africa is still a smaller sector and has a total sales of USD 7.87 Million at a CAGR of 3.51 Million as of 2021.
Recent Development
June 2021 : Solvay will soon be introducing Bio Amnit, he first-ever partially bio-based polyamide-based textile yarn in the global market. The product is a polyamide 5.6 that has been developed entirely at Solvay’s textile facility in Brazil. The creation of Bio Amni by the company will help it accommodate the ever-rising demand for sustainable textiles, particularly bio-based materials. The company’s research and developer teams have strived to create this product for the past two years. With Bio Amni’s launch, sustainable textiles are expected to account for around 30 percent of the company’s worldwide polyamide range, which the group projects to take up to 50 percent in the coming few years.November 2021 : Arkema is expected to construct a polyamide 11 powders unit at its Changshu site in China, projected to start in the first half of 2023. This set up of the facility should further cater to the massive demand for high quality bio-circular materials across Asia. Rilsan polyamide 11 powders, which are presently developed in France and made of renewable castor beans, are known globally for their impressive properties and high performance. They are known for their durability, toughness, processing versatility, and lightweight nature.November 2020: DSM signed an agreement with Neste in which the Finish refiner can supply renewable polyamide 6 (PA6) feedstocks, a quest for green polymers that it plans to complete by 2030.
November 2020: France-based 3D printing services office Sculpteo launched four new renewable and bio-sourced 3D printing products based on Nylon PA11 along with the Forward AM division of parent company BASF. The products in the new line, derived from organic castor oil, cross the gap between efficiency and sustainability with high chemical tolerance, elongation and longevity characteristics.
Report Overview
By Type
By Class
By Application
By End-use Industry
| Report Attribute/Metric | Details |
| Market Size | · 2030: USD 221.43 Million |
| CAGR | 3.51% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Class, Application, End-Use |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Arkema (France), DuPont (US), Evonik Industries AG (Germany), EMS-CHEMIE HOLDING AG (Switzerland), Lanxess (Germany), BASF SE (Germany), Mitsui Chemicals, Inc (Japan), Toray Industries Inc (Japan), AdvanSix Inc (US), KOLON PLASTIC INC (South Korea) |
| Key Market Opportunities | Growing R&D Investments to Create Growth Avenues for Market Players |
| Key Market Drivers | Growing Adoption from Consumer Electronics Sector to Drive Market Growth |
Frequently Asked Questions (FAQ) :
Bio Polyamides Market is predicted to grow at 3.51% through forecast period of 2022-2030.
The forecast period for Bio Polyamides Market research report is 2022-2030.
A major driving factor driver is that bio-polyamides have a unique property of low friction, which is favorable for many automotive products such as gears, bushings, and plastic bearings.
The prominent players operating in the Bio Polyamides Market include BASF SE (Germany), Stepan Company (U.S.), Cargill, Incorporated (U.S.), Camco Chemical Co. Inc. (U.S.), Florida Chemical Company (U.S.), Vertec BioSolvents (U.S.), Unicon Fibro Chemicals Pvt. Ltd. (India)
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
