ID: MRFR/CnM/6560-HCR | February 2021 | Region: Global | 140 pages
Market Synopsis
Polyamide is a polymer in which the repeating units (monomer) in the molecular chain are linked together by amide groups. Polyamides are widely used in the manufacturing of high-quality structural components owing to their excellent resistance to impact and abrasion as well as chemicals and solvents. Transparent polyamides are amorphous polyamides, specially designed for transparent applications as an alternative for polycarbonate (which does not offer high chemical resistance) and for other high-cost transparent polymers. The major types of polyamides used are polyamide 6, polyamide 66, polyamide 12, and bio-based transparent polyamide. These polyamides are used to manufacture various products for the automotive, electrical & electronics, healthcare, consumer care, packaging, and sports & leisure industries, by using the injection molding, blow molding, and extrusion processes.
The global transparent polyamides market is projected to be valued at over USD 2.5 billion and register a CAGR of over 7% during the forecast period, 2019–2024.
The demand for high-performance polymers has increased in recent years in the automotive, healthcare, and consumer goods industries. Transparent polyamide is one of the major high-performance polymers consumed in these industries. The prominent demand-side market drivers for the global transparent polyamides are increasing demand for the product in the consumer goods industry owing to the high transparency, high flexural fatigue strength, dimensional stability and dynamic strength, and lightweight due to low density. In addition, the automotive industry is the major consumer of transparent polyamides, wherein they are used to manufacture petrol filters, lubricant containers, remote controls, handles and holders, and other automobile components. The expanding automotive industry in Asia-Pacific and the Middle East & Africa and increasing use of lightweight polymers to reduce the overall weight of the vehicles are factors expected to propel the growth of the global transparent polyamides market during the forecast period. The electrical and electronics industry is the other key consumer of these polyamides, wherein they are used in the manufacturing of electrical connectors, IR sensor housings, mobile phone housings/components, and telecommunication connectors, among others. The healthy growth of the industry across the globe is expected to boost the demand for transparent polyamides in the years to follow. In the medical sector, there has a been an increasing demand for consumer-friendly medical devices as well as need to reduce the weight and improved flexibility of devices such as masks worn by patients to improve compliance. Transparency of components used in these devices helps improve function and aesthetics, which is further expected to fuel product demand in the coming years.
However, high competition from the hybrid polymers and composites is expected to be a key factor hampering the global market growth during the assessment period.
Key Players
Global Transparent Polyamide Market Share, by End-Use Industry, 2018 (%)
Source: MRFR Analysis
Regional Analysis
The global transparent polyamide market has been segmented into five key regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. In 2018, Asia-Pacific held the largest share of the global market on account of the growing automotive and electrical & electronics industries in the region. The automotive industry in the emerging economies of China, India, and Thailand are expected to be the major consumers of the transparent polyamides in the regional market in the years to follow. The consumer goods industry in the region is on a continuous rise in the past few years owing to the changing consumer preferences and increase in per-capita expenditure of the individuals in the developing economies in the region.
North America is expected to be the second-largest regional market, which is primarily attributed to the expanding healthcare and automotive industries in the region. The large-scale use of transparent polyamides in the manufacturing of automobile parts is expected to be the key factor favoring the regional market growth.
Market Segmentation
The global transparent polyamides market has been segmented on the basis of type, end-use industry, and region.
Based on type, the global transparent polyamides market has been classified into polyamide 6, polyamide 66, polyamide 12, bio-based polyamide, and others.
By end-use industry, the global transparent polyamide market has been divided into automotive, electrical & electronics, healthcare, consumer goods, packaging, sports & leisure, and others.
The global transparent polyamide market has been studied with respect to five key regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size |
|
CAGR | 7%(2022–2030) |
Base Year | 2021 |
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 | By Type, End-Use Industry and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Evonik Industries AG (Germany),EMS-CHEMIE HOLDING AG (Switzerland),BASF SE (Germany),Arkema (France),DSM Engineering Plastics BV (the Netherlands),GEHR Plastics Inc (US),DuPont de Nemours Inc (US),LANXESS (Germany),Solvay (Belgium),INVISTA (US) |
Key Market Opportunities | The expanding automotive industry in Asia-Pacific and the Middle East & Africa and increasing use of lightweight polymers |
Key Market Drivers | Increasing demand for the product in the consumer goods industry owing to the high transparency, high flexural fatigue strength, dimensional stability and dynamic strength |
Frequently Asked Questions (FAQ) :
transparent polyamides market is valued to reach USD 2.5 billion by 2024.
transparent polyamides market is expected to exhibit a CAGR of 7% from 2019 to 2024.
Massive demand of high-performance polymers is the major driver of the global transparent polyamides market.
Availability of hybrids and composites can hamper the global transparent polyamides market growth.
APAC dominated the global transparent polyamides market due to heavy demand for polymers from electrical & electronics and automotive industries.
Solvay, DSM Engineering Plastics BV, GEHR Plastics Inc, BASF SE, LANXESS, Arkema, DuPont de Nemours Inc, EMS-CHEMIE HOLDING AG, INVISTA, and Evonik Industries AG are notable players of the global transparent polyamides market.