Global Transparent Polyamides Market: Information by Type (Polyamide 6, Polyamide 66, Polyamide 12, Bio-based Polyamide, Others), End-Use Industry (Automotive, Electrical & Electronics, Healthcare, Consumer Goods, Packaging, Sports & Leisure, Others), Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) – Forecast till 2024
The prominent players in the global transparent polyamides market are EMS-CHEMIE HOLDING AG (Switzerland), Arkema (France), BASF SE (Germany), Evonik Industries AG (Germany), GEHR Plastics, Inc (US), DSM Engineering Plastics BV (The Netherlands), DuPont de Nemours, Inc (US), LANXESS (Germany), INVISTA (US), and Solvay (Belgium).
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The Global Transparent Polyamides Market is projected was valued at over USD 1.7 billion in 2018 and is expected to exhibit a CAGR of over 7% during the review period. The global demand for transparent polyamides is majorly driven by the increasing use of lightweight components in the automobiles and increasing demand in the consumer goods industry in sportswear, cosmetics, and personal care products. The changing lifestyles coupled with the high disposable income is likely to augment the demand for these products, thereby, propelling the market growth in the coming years. Furthermore, the increasing popularity of the product in the healthcare and sports & leisure industries is expected to offer immense growth opportunities for the key players operating in the market during the review period.
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.
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The global transparent polyamides market has been segregated on the basis of type, end-use industry, and region.
By type, the global transparent polyamides market has been segmented into polyamide 6, polyamide 66, polyamide 12, bio-based polyamide, and others. The polyamide 12 segment accounted for a majority of the market share in 2018 and is estimated to be the leading segment in the years to follow. Chemical resistance, high transparency, good flexural bending strength, high heat distortion temperature, and low density offered by polyamide 12 makes it a better polyamide type among others. Bio-based transparent polyamides are gaining popularity on account of the growing need for development and use of sustainable alternatives for high-performance plastics.
Based on end-use industry, the global transparent polyamides market has been categorized into automotive, electrical & electronics, healthcare, consumer goods, packaging, sports & leisure, and others. The automotive industry accounted for the largest share of the global market in 2018, owing to various benefits offered by the transparent polyamides including high flexural fatigue strength, lower water absorption compared to standard polyamide, transparency even with thick walled components, easy processing, and stiffness. The consumer goods segment is expected to register the highest CAGR during the forecast period.
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This post was originally published on Trading Herald