Global Specialty Polyamides Market Overview
Polyamides can occur in nature as well as can be obtained artificially. Polyamides are macromolecules linked by amide bonds with repeating units. Polyamides that are obtained artificially can be made by either solid-phase synthesis or step-growth polymerization. Specialty polyamides on the other hand are used as a replacement for synthetic polyamides wherein specialty polyamides have superior mechanical and thermal properties to synthetic type and have improved humidity resistance. Additionally, specialty polyamides also offer greater resistance towards solvents and aids that are commonly used. Specialty polyamides can be used as films or in form of fibers obtained through extrusion and molding processes. The type of fibers obtained from specialty polyamides consist of particle size distribution in a very tightly controlled manner. These fibers consist of the potential to maintain their stability during degradation that results in eliminating wastes and aids in reducing operational costs. The property to resist degradation helps in obtaining flexible and robust products for various end-user industries. Specialty polyamides can be produced from renewable sources of energy such as palm kernel oil, castor oil, ω amino lauric acid and more which makes them environmental friendly products which is expected to propel the specialty polyamides market on account of growing environmental awareness among the present manufacturing population.
Market Size & Forecast
Specialty polyamides market is anticipated to record a significant CAGR of 6.8% over the forecast period. Many multi-national companies are concentrating towards new product development of specialty polyamides. Moreover, the many advantageous properties of specialty polyamides are exploited in the field of textiles and electronics. New uses for specialty polyamides derivatives are discovered at regular gap intervals which are expected to drive the specialty polyamides market rapidly.
Currently the global specialty polyamides market is observing vibrant growth on account of increasing demand of polymer foams in the market. Advances in material industry in the past few years and growing technological combination explorations are projected to drive specialty polyamides market besides the wide range of functions of specialty polyamides in an immense range of products such as powder coating, resins, alloys, hot melt adhesives, thermoplastic elastomer and more during the forecast period. On the basis of regional platform, global Specialty Polyamides market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
As a precursor to highly flexible, abrasion resistant polyamides in polymer industry, North America is panned to observe substantial specialty polyamides market growth due to rising specialty polyamides usage in automotive industry. North America is expected to be followed by Asia-Pacific in terms of consumption due to expanding specialty polyamides requirements in consumer goods and electronics industries. On the back of multiplying uses for specialty polyamides in growing end-use industries producing products such as skis and ski boots, medical wearable devices, conveyor belts and pulleys, antistatic additives, wires and cables, Asia Pacific is budding as a regional specialty polyamides consumption market.
Europe is expected to drive the demand and positively impact specialty polyamides market growth over the forecast period owing to increasing specialty polyamides application for electrical and electronic components, metal coating and in medical devices and catheters.
Our-in depth analysis of the global Specialty Polyamides market includes the following segments:
By Polyamide Type
By End-User Industries
Global Specialty Polyamides Market is further classified on the basis of region as follows:
Growth Drivers & Challenges
The rising demand for specialty polyamides and its products for various processes in medical, electronics, consumer goods, industrial coating, automotive industries are expected to drive the market rapidly over the forecast period. The growing R&D activity associated with specialty polyamides is further expected to increase the market growth on account of discovery of new applications of specialty polyamides with technological advancements. The increased durability, quality, energy absorbing property and light-weight of specialty polyamides are estimated to drive the market with the insertion of new technological advancements in the manufacturing sector. Stringent governmental regulations to promote eco-friendly materials are predicted to help the specialty polyamides market grow further during the forecast period. Rapid industrialization leading to rising economic development with thriving manufacturing sector is expected to boost the specialty polyamides market across the developed as well as the developing regions across the globe.
However, cost constraints associated to technologically advanced materials with rigorous and time consuming process involvement to alter an entire process flow along with low adoption of specialty polyamides in major plastic consuming regions is expected to serve as a key restraint in the sturdy growth of specialty polyamides market over the forecast period.
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