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Biobased & Synthetic Polyamides Market will generate admirable revenue by 2025

Author : Rahul Varpe | Published Date : 2019-06-11 

Biobased & synthetic polyamides market will be propelled by the increasing product demand for 3D printing, packaging and insulation from different industries such as healthcare, transportation, and consumer products in future years. A number of 3D printing applications in healthcare sector which mainly includes orthopedic devices, prosthetic body parts, casings of MRI machines, etc. will hold a substantial potential which will boost the global demand for polyamides. Few other applications driving biobased & synthetic polyamides market demand include: hydraulic hoses, corrugated tubes, fuel lines, coolant & degassing pipes and pneumatic tubes.

Biobased & synthetic polyamides are also estimated to observe a vast demand in transmission oil cooler hoses, servo brakes, gas transportation, filaments, industrial tubes, and sporting goods. Polyamides helps in reducing the weight of the vehicle. Such unique advantages and the vast applicability as compared to metals, will boost biobased & synthetic polyamides market especially in the automotive sector by 2025.

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According to a new research report by Global Market Insights, Inc. Biobased & Synthetic Polyamides Market Size will surpass USD 42 billion by 2025.

In the year 2017, 80% share of overall biobased & synthetic polyamides market was held by Polyamide 6 and PA 66. However, increasing demand for the biobased Polyamide 11 is expected to push the growth in biobased polyamide market in coming seven years. Further, the growth trends in global bioplastic industry is also expected to have a positive influence on the global biobased polyamides market in next seven years. 

In 2017, the most remarkable end-user for the global biobased & synthetic polyamides market was the textiles segment, which is expected to grow by more than 4.5% CAGR by 2025.  Strict guidelines given by the OSHA about the industrial safety is expected to drive the consumption of protective clothing during forecast period, which will positively influence overall global biobased and synthetic polyamides market by 2025. 

In 2017, Asia Pacific was a leader in biobased & synthetic polyamides market. The region had contributed more than 40% market share in the year. This greater share was due to the increased product demand in regional automotive and construction industries. As per a report published by the United Nations, in Asia, the cities having population of 500,000 or more are expected to increase by 30% by 2030. Increasing urbanization and industrialization in India, South Korea, Taiwan etc. will significantly boost the regional automotive, energy, construction, food and healthcare industries. This trend is likely to positively influence the global biobased and synthetic polyamide market in the forecast period.

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The key players engaged in the manufacturing of biobased and synthetic polyamides include DSM, Arkema, EMS-CHEMIE HOLDING AG, BASF SE, UBE INDUSTRIES, LANXESS, Evonik, Grupa Azoty, DowDuPont Inc., Asahi Kasei Corp., RTP Company etc. Most of the companies are engaged in strategic expansion through mergers & acquisitions for increasing their production capacity and strengthening their global presence to meet the increasing demand for biobased and synthetic polyamides. For instance, in September 2017, BASF acquired the polyamide business of Solvay, which was a remarkable move in the global polyamide market across the world.
 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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