Specialty Polyamide Market Demand | Size, Overview, Report Analysis, Trends Reports, Scope and Forecast
Specialty polyamide Market–Market Overview:
The
global Specialty
Polyamide Market Demand has been estimated to register a significant growth
on account of increasing demand from the transportation sector on the backdrop
of expanding global trade and consumer goods. The primary factors driving
growth of the market are the rising use of the light weight vehicles, growing
demand for light weight, heat resistant and durable coating material in
numerous industrial applications. The global automotive market is estimated to
grow at higher CAGR to reach over USD 90 billion revenue in 2017. The
production and use of light weight cars and other automotive, as projected by
Morgan Stanley analysts, is set to rise to 2.9 percent of 99 million new
vehicles in 2020 and to 9.4 percent of 102 million new vehicles in 2025, from
1.1 percent of 86.5 million this year. This is projected to boost demand for
the specialty polyamide in manufacturing light yet durable parts for an
automotive. Additionally, there is growing demand for the demand for organic
materials which is expected to rise globally due to the rising prices of
petrochemical-based raw materials. Bio-based polyamides are a high-quality
alternative to substitute petro-based materials. They can be used in
automotive, electronics, and consumer goods applications. As a result, it has
been projected that in future the demand of specialty polyamide may surge
manifolds. Moreover, surging demand for and use of consumer goods and
electronic devices is expected to further boost growth of the market.
Specialty
polyamide Market- Competitive Landscape:
The global Specialty
Polyamide is a mature market demand with significant number of major
players operating into the market. The market is driven by flourishing
construction, automotive and sports equipment industry. The market is greatly
concentrated by the presence of number large players yet, Evonik Industries AG,
BASF SE, Arekma SA, and Solvay S.A are the key manufacturers in this market.
Almost all of these market participants are primarily adopting the expansion
and product launch tactics to strengthen their market position. Growing
automotive industries, and continuous rising demand for sports goods and
equipment, along with the collaborations and agreements between manufacturers,
distributers, and marketing firms are key market forces operating in the market
for the growth of the demand for specialty polyamide. Taking all these trends
under consideration, the global specialty polyamide market is likely to witness
considerable competition over the forecast period of 2017-2023.
Industry/
Innovation/ Related News:
September 19, 2017- Germany
based chemical giant BASF SE and Belgium based chemical major Solvay S.A. has
entered into a binding agreement for a USD 1.9 billion. Under the agreement
BASF SE acquired the polyamide business of Solvay SA. This will complement
BASF’s engineering plastics portfolio as the will be integrated into the
performance materials and monomers division of BASF SE.
October 11, 2017- BASF SE, the Germany based chemical
giant, has developed new semi-transparent product portfolio of polyamide 6 and
66 grade product range called Ultramid. It is the plastics are resistant to
heat aging up to 220°C and show excellent burst pressure and weld strength.
February 11, 2016- Evonik
Industries, the Germany based speciality chemicals, announced its plans to
build a new production line for special polyamide 12 powder (PA12), named
VESTOSINT, in Marl (Germany), under the Resource Efficiency Segment. This
helped the company to increase the existing annual capacity for polyamide 12
powders by 50 per cent. Due to their mechanical properties and chemical
resistance as well as the high melting point of finished products, PA12 powders
are particularly suitable for use in powder-based 3D printing processes such as
selective laser sintering (SLS), high-speed sintering (HSS), and fibre
composite materials represent another growth field.
October 6, 2017- The France based specialty
chemicals and advanced materials manufacturing company Arkema announced a price
increase for its specialty polyamide resins. This move is taken by the company
on the backdrop of a combination of increasing raw material costs, increasing
compliance costs and an ambitious investment plan required to sustain company’s
ability to supply rapidly growing global markets.
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