Pune, India -- (SBWire) -- 05/11/2018 --Polyamides Market – Market Overview
Polyamide are either occur naturally or formed synthetically. They are the polymers composed of repeated amides. Well known example of the naturally occurring polyamides is protein, wool, and artificially formed Polyamides is nylon. Growth in this market is driven by use of polyamide in end use industries such as automotive, consumer goods, electronics & electrical, packaging and other. Industrial expansion, increasing automotive production and rising country level political alliances expected to surge demand for the Polyamides. In addition, significant growth is anticipated in this market due to increasing trend for the bio based product as a result of growing global green awareness.
Regional Overview
Asia Pacific is the largest market for Polyamides and it is expected to retain its dominance over the forecast period. Growing demand from major end use industries such as automotive, packaging, consumer appliances, electronics & electrical. China, India and Japan are the key growth driving economies in this region. Growing demand for bio based polyamides as well as increasing disposable income are the reason for the growth of this region.
Polyamides Market- Competitive Landscape
The nature of Global Polyamides Market is highly fragmented and consist of major industry leader. Overall competition observed in this market is high and it is expected to get even higher over the assessment period. Key players in this market are BASE SE, DowDupornt, Honeywell Corporation, Arkema SA, Royal DSM N.V., and other large number of the small as well as mid-scale players. Global market as a whole witnessed production capacity expansion, product launch, and acquisition as major strategies to attain the anticipated growth.
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Industry/ Innovation/ Related News:
September 19, 2017 – Foremost chemical industry player BAF SE has announces the acquisition of Solvay's global polyamides business. BASF and Solvay has signed a definitive agreement to undertake the acquisition of Solvay's polyamides business and the amount exchanged by BASF was USD 1.69 billion. The overall acidity expected to close in the end of September end this years. As per the MRFR analysis, aforementioned activity would strengthen the BASF's leadership in engineering plastic segment. In terms of geographical presence, the transaction would enhance company's presence in Asia as well as South America. With this market alliance, BASF likely to invest massive investment in Europe region to penetrate their market leadership.
Jun 29, 2016 – BASF has launched new series of polyamide. The newly introduced series named as Ultramide ® (i.e. polypthalamide) and are introduced by aiming enhanced product solution in the automotive and electronics industries. This new product is supplemented by detailed material characterization and offers better performance in the end use applications. With greater exhibited properties, the added series expected to set standards in the industry in terms of performance and provide scope for innovation.
Jun 21, 2017 – Engineering plastic capacity expansion has been undertaken by one of the leading chemical and specialty material producer BASF SE. At their Germany based plant, engineering plastic (polyamides) are being extended by 700, 000 to/year. As per one of the board member of BASF, this is one of the biggest capacity expansion undertaken for polyamides segment, and there are further market alliances are being lined up to cater the increasing demand coming from end use markets. This expansion has made to provide high performance components in major industries such as automotive and electronics and electrical.
February 10, 2016 – Evonik Industries has expanded the production capacity for specific range of the polyamides.Evonik industries have started a new production plant for this abovementioned production activity and have made disclosed double digit million euros investment. The plant will be operation end of 2017, and polyamide powder will be produced in this plant. As per the stated in proposal the new plant will be responsible of producing % of overall Evoniks' polyamides volume, and to bridge the increasing demand supply gap in product offering.
October 6, 2016 – Netherlands based specialty material producer DSM had launched new high performance polyamides for the replacement of metal. This is the initiate by the company to substitute die cast metal and costly high performance engineering thermoplastic with launch of this polymer. The newly added polyamides are 40% stronger than any available polyamides or PPG, and will be playing very important role for transmission and engine. As per our analysis, this series expected to help DSM to widen their leadership.
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Polyamides Market: Shows Expected Trend to Guide from 2018-2023 with Growth Analysis by Manufacturers, Regions, Type and Application