Polyamide Resins Market by Type and Geography - Global Forecast and Analysis 2019-2023
Global Polyamide Resins Market: About this market
Technavio’s polyamide resins market analysis considers sales from reactive polyamide resins and non-reactive polyamide resins. Our analysis also considers the sales of polyamide resins in APAC, Europe, MEA, North America, and South America. In 2018, the reactive polyamide resins segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising demand for paints and coatings because of the increasing number of residential and non-residential construction projects will play a significant role in the reactive polyamide resins segment to maintain its market position. Also, our global polyamide resins market report looks at factors such as increasing application of polyamide resin in automotive industry, growing paper industry, and replacement of conventional resins by polyamide resins. However, shortage in supply of polyamide resins, high price of polyamide resins, and stringent regulations on polyamide resins may hamper the growth of the polyamide resins industry over the forecast period.
Global Polyamide Resins Market: Overview
Replacement of conventional resins by polyamide resins
Polyamide resins are increasingly replacing conventional resins owing to their superior properties. Polyamide resins exhibit properties such as excellent wear resistance, high mechanical strength, high thermal stability, and high impact strength and stiffness. They also possess properties such as excellent flame retardation capability and good mechanical and barrier properties. Owing to the high temperature and electrical resistances, polyamide resins are considered as high-performance plastics and are widely used in automotive and transportation, electrical and electronics, and consumer goods applications. The demand for glass-filled polyamide resins is also increasing as it can withstand gamma radiation. Such superior properties of polyamide resins, along with their increasing applicability in end-user industries will lead to the expansion of the global polyamide resins market at a CAGR of almost 6% during the forecast period.
Rising adoption of recycled polyamide resins
Environmental concerns have become more important to consumers, which has led many companies to design products considering sustainability principles. As a result, the demand for recycled polyamide resins has increased across the globe. The use of recycled polyamide resins helps reduce the amount of landfill and the overall cost for vendors. There are three main types of recycled polyamide resins, namely post-consumer recycled (PCR) polyamide resins, pre-consumer recycled polyamide resins, and post-industrial recycled polyamide resins. For instance, Econamid, a range of recycled polyamide resins offered by DOMO Chemicals is produced from sustainable feedstock derived from manufacturing of film, fiber, and yarn. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global polyamide resins market during the forecast period 2019-2023, click here.
With the presence of several major players, the global polyamide resins market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading polyamide resins manufacturers, that include Arkema SA, BASF SE, Celanese Corp., DuPont de Nemours Inc., Evonik Industries AG, Koninklijke DSM NV, Mitsubishi Chemical Holdings Corp., Solvay SA, Toray Industries Inc., and Unitika Ltd.
Also, the polyamide resins market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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