The rise in demand for PA-6 in the electrical and electronics sectors and the growth of electric vehicles are key drivers of the market.

WILMINGTON, DE, UNITED STATES, September 8, 2024 /EINPresswire.com/ -- The Allied Market Research report titled “Polyamide Market by Type (Aliphatic Polyamides and Aromatic Polyamides), Application (Polyamide Fibers & Films and Engineering Plastics), and End-use Industry (Automotive, Electrical & Electronics, Textile, Construction, Packaging, Consumer Goods, and Others): Global Opportunity Analysis and Industry Forecast 2021–2028” provides a comprehensive analysis of the global polyamide market.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/11837

Market Overview:

Market Size & Growth: The global polyamide industry was valued at $26.7 billion in 2020 and is projected to reach $40.6 billion by 2028, growing at a CAGR of 5.4% from 2021 to 2028.

Key Drivers of Growth:

- Increased Demand for PA-6: The rise in demand for PA-6 in the electrical and electronics sectors and the growth of electric vehicles are key drivers of the market.
- Government Policies: Favorable government policies supporting electric vehicles present new growth opportunities.

Challenges:

Crude Oil Prices: Fluctuating crude oil prices impact the market negatively.

Market Segments:

By Type:

- Aliphatic Polyamides: Dominated the market in 2019, accounting for nearly 90% of the market share.
- Aromatic Polyamides: Expected to register the highest CAGR of 6.5% during the forecast period.

Applications:

- Polyamide Fibers & Films: This segment held over half of the market share in 2020 and is expected to maintain its leadership. It is widely used in carpet manufacturing.
- Engineering Plastics: Expected to exhibit the highest CAGR of 5.9% from 2021 to 2028, driven by its use in automotive parts like radiator fans and fuel tanks.

End-use Industries:

- Automotive: Dominated the market in 2020, accounting for approximately one-third of the market share. This sector uses polyamide to reduce system costs and enhance fuel efficiency.
- Consumer Goods: Projected to grow at the highest CAGR of 7.4% from 2021 to 2028, due to its application in various consumer products.

Regions:

- Asia-Pacific: Led the market in 2020 and is expected to grow at the fastest rate of 6.8% during the forecast period. The region's growth is driven by its applications in automotive and food packaging industries.
- North America: Follows Asia-Pacific in market share and growth potential.

Leading Market Players:

- Ascend Performance Materials LLC
- Arkema SA
- BASF SE
- Evonik Industries AG
- Gujarat State Fertilizers & Chemicals Limited (GSFC)
- Koch Industries
- Lanxess
- Mitsubishi Chemical Holdings
- Radici Group
- Royal DSM

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/polyamide-market/purchase-options

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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