Increase in demand for PA-6 in the electrical and electronics sector and surge in demand for electric vehicles drive the growth of the global polyamide market.
Allied Market Research published a report, titled, “Polyamide Market by Type (Aliphatic Polyamides and Aromatic Polyamides), Application (Polyamide Fibers & Films and Engineering Plastics), and End-use Industry (Automotive, Electrical & Electronics, Textile, Construction, Packaging, Consumer Goods, and Others): Global Opportunity Analysis and Industry Forecast 2021–2028”. According to the report, the global polyamide industry generated $26.7 billion in 2020, and is anticipated to generate $40.6 billion by 2028, witnessing a CAGR of 5.4% from 2021 to 2028.
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COVID-19 impact analysis
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The polyamide market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the polyamide market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the polyamide market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
The automotive segment accounted for the largest share in 2020, contributing to nearly one-third of the global polyamide market, and is projected to maintain its lead position during the forecast period. Automotive manufacturers are increasingly using this polymer in order to cut down system costs and integrate components in order to increase the fuel efficiency of automobiles. However, the consumer goods segment is expected to portray the largest CAGR of 7.4% from 2021 to 2028, owing to its wide usage in the consumer goods such as sports items, batteries, artificial printed jewelry, leisure equipment, kitchen appliances, carpets, and many more.
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Some ruling enterprises in the global polyamide market are examined in the report along with the citation of innovative product launches by them, their collaborative undertakings & endeavors, several merges & acquisitions, and many more. The frontrunners operating in the global polyamide industry include Ascend Performance Materials LLC, Arkema SA, BASF SE, Evonik Industries AG, Gujarat State Fertilizers & Chemicals Limited (GSFC), Koch Industries, Lanxess.
Asia-Pacific, followed by North America, held the highest market share in terms of revenue 2020, accounting for around one-third of the global polyamide market. Moreover, the same region is expected to witness the fastest CAGR of 6.8% during the forecast period. Asia Pacific emerged as a major regional polyamide market, driven by its increasing application automotive and food packaging industries.
Major Inclusions-
- Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
- Analysis at country and regional level, which portrays the share of the product or service in different regions.
- Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
- The forecasted market outlook of the polyamide market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
- The COVID-19 impact on the polyamide market
- Post-sales support and free customization
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