Fior Markets launched a study titled “Biobased & Synthetic Polyamides Market by Product (Polyamide 6, Polyamide 66, Polyamide 10,Aramids,Others), End User Industry, Regions”,and Global Forecast 2018-2025.
The global biobased & synthetic polyamides market is expected to grow from USD 32.64 Billion in 2017 to USD 49.89 Billion by 2025, at a CAGR of 5.45% during the forecast period from 2018-2025. Rising demand for the biobased & synthetic polyamides account of their high durability and strength is driving the global biobased & synthetic polyamides market.
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Aramids segment is anticipated to grow at a CAGR of 7.79% in 2018-2025
Product segment is divided into polyamide 6, polyamide 66, polyamide 10, polyamide 11, polyamide 12, aramids and others. Due to their wide-ranging application in the manufacturing of technical fabrics, monofilaments, food packaging, and functional clothing, the polyamide 6 product segment emerged as the leader in the global biobased & synthetic polyamides market with USD 14.02 billion revenue in 2017. Owing to their due to their superior rigidity, oriented molecular structure, ultra-high strength, low flammability, light-weight, abrasion resistance properties, the aramids segment is projected to grow at the fastest CAGR of 7.79% over the forecast period.
Transportation segment had a market value of USD 11.51 billion in 2017
End user industry is segmented into transportation, textiles, electrical & electronics, construction, consumer goods, energy, healthcare, and others. Due to widespread use of biobased & synthetic polyamides materials in the automobile industry, for the purposes of manufacturing of gasoline and oil resistant tubes, fuel lines, air brake systems, engine covers, the Transportation segment emerged as the largest end user industry segment in the global biobased & synthetic polyamides market with USD 11.51 billion revenue in 2017.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Owing to factors such as rapid industrialization, increasing demand for the consumer goods, electrical & electronics devices as well as the growth of construction and automotive industry, led Asia Pacific region to emerge as the global leader in the demand for the biobased & synthetic polyamides with a USD 13.98 billion revenue in 2017.
Even though the factors such as rising utilization of composites in the various industries and the growth of the transportation industry are driving the global biobased & synthetic polyamides market, the high cost of production and volatility in the raw material prices are anticipated to restrain the growth of the market.
Major players in the global biobased & synthetic polyamides market are Arkema, Royal DSM, BASF SE, Evonik Industries SE, UBE INDUSTRIES, LTD., Asahi Kasei Corporation, DowDuPont Inc., Grupa Azoty, EMS-CHEMIE HOLDING AG, Lanxess AG, RTP Company, Huntsman Corporation, INVISTA, Domo Chemicals, Toray Industries, Inc., Radici Partecipazioni SpA, Solvay, The Quadrant Group, LI Peng Enterprise Company Limited, Honeywell International, Inc., and among others.
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