Long-chain Polyamide Market overview:
The Long chain polyamides are considered as one of the essential polymers that bridge the gap between the traditional polyamides and polyethylene. The unique compositions and their properties are bridging the gap between the conventional polyethylenes; primarily they are used in the production of monofilaments that are in turn utilized in varied applications. The key properties that include chemical resistance, dimensional stability, and the capability to withstand higher temperatures make them suitable to be used in the production of hood components in the industries and the automotive. Some of the hood components include fuel lines, coolant hoses, clutch fluid ducts, and significant others.
Among other potential end-user industries, the automotive industry is considered as the major end-user industry as the components require the properties such as lightweight, comparable strength, performance, durability, and other attributes. On the other hand, the electrical and electronic industries also replace PVC plastics with Long-chain polyamide as they exhibit superior properties such as higher strength, and capability to sustain higher temperature. Therefore the potential benefits of utilizing the long-chain polyamides are increasing the overall growth of the long-chain polyamide industry.
COVID 19 Analysis:
The widespread of COVID-19 has negatively affected the long-chain polyamide market growth owing to the disturbed demand and supply ratio in the industry. The logistics issues and the shipment networks across the globe were witnessing significant distress throughout the pandemic. Moreover, the major suppliers of the raw materials such as Evonik Industries, Solvay, Ashland, and significant others were temporarily shut down as they complied with the government regulations imposed due to the pandemic. The lack of required raw materials for the long-chain polyamide industries has significantly impacted the overall growth of the long-chain polyamide industry.
Moreover, the declining economic condition across the globe and the reduced labor force in the manufacturing hubs were hindering the overall growth of the long-chain polyamide industry. The demand for consumer electronics and automobiles was also reduced significantly during the pandemic. Such factors have also reduced the long-chain polyamide market value during the pandemic.
The potential benefits of the long-chain polyamide and the key features such as higher resistance to the chemicals, fatigue, and cracks with supreme stability are considered as the primary reason for the overall growth of the long-chain polyamide industry.
The increasing industrialization and advancing technologies in the manufacturing industries have increased the requirement for the production of industrial components such as rollers, pulleys, conveyor systems, hoses, and tubes connectors and filaments are also impacting the overall growth of the long-chain polyamide industry.
The government of the developing countries was imposing regulations regarding the utilization of lightweight and durable materials for the manufacturing of industrial components. Such factors are propelling the automotive, transportation industries to adopt the long-chain polyamide. Such factors are presenting lucrative opportunities for the long-chain polyamide market growth during the forecast period.
The increasing development in automotive, industrial activities and favorable government schemes across the globe are presenting lucrative opportunities for the overall growth of the long-chain polyamide industry. Moreover, the government regulations to potentially replace the utilization of plastics in the electrical components and gadgets are also considered as the major opportunities for the long-chain polyamide market growth during the forecast period.
The improper supply of the raw material and the improper ratio of the demand and supply in the long-chain polyamide industry are considered as the major restraints of long-chain polyamide market growth.
Moreover, the costs incurred for the research and development regarding the long-chain polyamide industry and the pricing and demand imbalance across the globe related to the long-chain polyamide manufacturers and suppliers are considered as the major market restraints of long-chain polyamide market growth.
The emerging electric vehicles across the developing countries are considered as the primary challenge for the long-chain polyamide market growth. Electric vehicles don’t possess the critical components that are generally present in conventional engine vehicles, which utilize the long-chain polyamide for manufacturing such components. Such factors are considered as the major challenge of the long-chain polyamide industry.
The volatility in the prices of the raw materials and the imbalance in the supply and demand is also presenting a challenge for the overall growth of the long-chain polyamide industry. Moreover, some of the raw materials used for the production of long-chain polyamides are obtained extremely minimal, for instance, crude oil.
Cumulative growth analysis:
The market value of the long-chain polyamide industry was at USD 2070.39 million in the year 2019 and it is expected to surpass the market value of over USD 2969.34 million by the year 2027 while registering a CAGR of 5.38% during the forecast period. The long-chain polyamide market growth is highly influenced by the potential end-user industries such as automotive, especially commercial vehicles. On the other hand, the burgeoning investment in the long-chain polyamide industry owing to the beneficiary features is propelling the overall growth of the long-chain polyamide industry.
The industrial components such as rollers, pulleys, conveyor systems, hoses, and tubes were manufactured by utilizing the long-chain polyamide, whereas the automotive sector is holding the market value of over 37.10% in the year 2020 and continue to showcase a higher growth rate owing to the emerging potential market players in automotive industries. Such factors are expected to bolster the overall growth of the long-chain polyamide industry during the forecast period.
Value chain analysis:
The primary end-user industries of the long-chain polyamide industry are industrial components, automotive, electrical, and electronic industries. Industrial components such as rollers, pulleys, conveyor systems, hoses were intensively used in any manufacturing industry. The increasing industrialization and urbanization across the globe are increasingly impacting the overall growth of the long-chain polyamide industry. On the other hand, the automotive industry is also considered as the huge consumer of long-chain polyamides for the manufacturing of the crucial components of the vehicles. The increasing consumer base for passenger cars and demand for lightweight cars and vehicles are presenting lucrative opportunities for the overall growth of the long-chain polyamide industry.
On the negative side, the requirement of bio-based raw materials such as castor oil is obtained extremely rarely and there has been a continuous fluctuation in the price of castor oil. Such factors are significantly affecting the overall growth of the long-chain polyamide industry in recent years.
Global Long-chain Polyamide Market Revenue, by Type, 2019 (USD Million)
Sources: MRFR Analysis
Based on Type:
Based on End-use Industry:
Global Long-chain Polyamide Market Share, by Region, 2019 (%)
Sources: MRFR Analysis
The long-chain polyamide market growth is highly influenced by the increasing number of production hubs regarding automotive and industrial components. Asia-pacific was exhibiting a higher market share of over 53.20% in 2019 and continued to grow during the forecast period owing to the increase in the end-user industries. The increasing consumer base for consumer electronics, personal electronic devices across the region is presenting lucrative opportunities for Long-chain polyamide market growth.
Moreover the favorable economic conditions in the countries like India and China combined with the increasing number of end-user applications like automotive, electrical and electronics, industrial operations, and significant other applications are propelling the overall growth of the long-chain polyamide industry across the Asia-pacific region. The experts estimate that the long-chain polyamide market growth is expected to reach over USD 3100 million by 2028.
In the year 2019, one of the leading market players, Evonik has introduced a novel polyamide powder that is specially designed for 3D printing applications even at the higher temperature range. The higher mechanical strength and supreme resistance for chemical and temperature are some of the key features of this development. This has been utilized in 3-D printing technologies in developing countries since its introduction in the market.
In the year 2020, one of the leading market players, Sculpteo has announced a bio-sourced 3-D printing material that has the base of Nylon PA11. The company has introduced 4 printing materials that were named as the following:
This report has covered:
Based on Type:
Based on End-use Industry:
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, End-use industry, Application and Region|
|Geographies Covered||North America, South America, Europe, Asia-Pacific, Middle-East, and Africa|
|Key Vendors||DuPont (US), Evonik Industries AG (Germany), BASF SE (Germany), Arkema (France), DSM (The Netherlands), EMS-Chemie Holding AG (Switzerland), Nylon Corporation of America, Inc. (NYCOA) (US) and Radici Group Spa (Italy)|
|Key Market Opportunities||Periodic maintenance and replacement of industrial machinery are expected to generate major demand|
|Key Market Drivers||The growth of the electrical & electronics industry is also expected to provide a significant boost|
Long-chain Polyamide Market is expected to surpass the market value of over USD 2969.34 million by the year 2027 while registering a CAGR of 5.38% during the forecast period.
• Rollers • Pulleys • conveyor system • houses • tubes connector • Filaments.
• Plug-in Connectors • Switchboards & Housing • Connection Box • Cable Ducts
• Brake Tubes • Fuel Liners • Cluster Tubes • Electrical Systems