Market Research Future offers a six-year forecast for the Global High-Performance Polyamides Market between 2017 and 2025. By value, the High-Performance Polyamides Market 2020 is predicted to record a double-digit CAGR with 5.5% in the anticipated period. As the economy has started to restore after long terms impact of COVID-19, the market will be attaining a valuation of surpassing USD 2,642.1 Million by the year 2023.
DuPont (US), BASF SE (Germany), DSM (The Netherlands), Evonik Industries AG (Germany), Toray Industries Inc. (Japan), Solvay (Belgium), Radici Group SpA (Italy), Lanxess (Germany), Ascend (US), INVISTA (US), DOMO (Italy), NILIT (Israel), Kolon Plastic Inc. (South Korea), Asahi Kasei (Japan), and Hyundai EP Co. Ltd (South Korea).
RadiciGroup – An Italian multinational with 3,100 employees in 16 countries, engaged in the engineering polymers, chemicals, fibers, and nonwovens businesses – the closed economic year 2019 with consolidated sales revenue of EUR 1,092 million and EBITDA of EUR 165 million.
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High-Performance Polyamides Growth Boosters:
The mount in Global High-Performance Polyamides Market value can be accredited to increasing demand for High-Performance Polyamides. They are a replacement for conventional materials. High-Performance Polyamides can withstand extreme conditions such as long term exposure to heat, chemicals, and moisture. The factors such as improving economic conditions and weight reduction in the automotive sector have played vital roles in the growth of this market. Applications such as electrical & electronics, transportation, industrial, and medical have witnessed upward demand for High-Performance Polyamides.
Improving economic conditions in developing regions is driving a High-Performance Polyamides Market and is also the primary driver for the rising demand for High-Performance Polyamides. Other than this, the replacement of conventional materials by towering Performance Polyamides also boosts the market growth to a great extent.
Furthermore, megatrends in the electrical & electronics, automotive, and oil & gas sectors are probable to stimulate the demand for High-Performance Polyamides in the future. In the automotive sector, expansion is supported by metal replacement to reduce vehicle weight, while thinner and smaller components in electronic devices. The progress of unconventional oil and gas technologies also spur the demand for specialty polyamides.
Depending on the type segment, the global market has included PA 12, PA 11, PA 10, PA 6T, and more. The PA 12 segment grabbed the larger market share in 2018, with USD 881 million valuations. Now it is probable to nurture at 5.3% CAGR during the review period.
Depending on the application segment, the global market has included electrical & electronics, consumer goods, transportation, industrial coatings, oil & gas, and other industrial applications. The transportation segment grabbed the superior market share with USD 960.1 million valuations in 2018.
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The segment increase can be attributed to the escalating production of energy-efficient vehicles to reduce environmental emissions.
Asia Pacific region elevated Performance Polyamides Market is predicted to rise at a high growth rate, owing to its penetration in automotive production. The growing demand for consumer safety and low-cost, high-efficiency materials in automobiles, in turn, is likely to boost High-Performance Polyamide consumption over the assessment period. Additionally, expanding the population has propelled the requirements for High-Performance Materials such as polyamides, especially in the medical sector. The products such as catheters, syringes, and other fluid delivery systems may increase the demand for High-Performance Polyamides in the medical sector.
In developed regions such as North America, the use of High-Performance Polyamides in military applications such as carbon fibers is predictable to coerce the market growth for High-Performance Polyamides in the future.
In the Middle East & Africa growing manufacturing of food packaging materials is probable to propel the market demand for High-Performance Polyamides in the future.
COVID-19 Study in Detail:
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