Bio Polyamide Market Analysis

Bio Polyamide Market Insights

The global bio polyamide market is anticipated to grow at a CAGR of more than 5% over the forecast period. The market is likely to be influenced by increasing inclination towards eco-friendly and sustainable solutions. The rapid advancement in textile, automobile and electrical & electronics industries are expected to fuel the demand for the product over the coming years.

The demand for PA fibers is expected to increase over the coming years owing to its non-abrasive nature, durability, recyclability, light weight, low-cost, and renewability. Also, the increasing adoption of bio-based fibers in marine and electronic industries is likely to stimulate the market growth.

Ideal government regulation policies coupled with increasing environmental awareness, particularly in the U.S. and Europe, are expected to boost the market over the forecast period.

Bio Polyamide Market: Product Insights

On the basis of products, the bio polyamide market is segmented into PA-6, PA-66, and Specialty Polyamides. PA-6 product type recorded the largest market share in 2016 and is further likely to grow at a CAGR of more than 13% over the coming years.

The PA-66 product type is anticipated to witness a significant growth, both in terms of volume and revenue, over the forecast period. This growth is attributed to its special properties such as higher modulus, better wear resistance and the ability to absorb lower moisture as compared to PA-6.

Bio Polyamide Market: Application Insights

The bio polyamide market is divided into engineering plastics and Fiber, based on application. The Fiber segment is further divided into textile, industrial, carpet, and staple. Engineering plastics are also sub-divided into Automotive, Film & coating, Industrial/Machinery, Electrical & electronics, Consumer goods appliances, and Wires & cables

Engineering plastics segment recorded the largest market share in 2016.  The demand for engineering plastics is anticipated to increase in the automobile and electronic sectors due to their lightweight properties and high strength-to-weight ratio. Bio-polyamides segment is also expected to witness a significant increase over the forecast period.

Fiber segment held the second-largest market share in 2016. This growth is projected to be driven by its excellent wear & impact resistance along with its high tensile strength. Eco-friendly fiber has wide application in the textile industry.

Bio Polyamide Market: End-User Insights

On the basis of end-use, the bio polyamide market is segmented into textile, automotive, film & coating, consumer goods, industrial, and electrical & electronics amongst others.

The electrical & electronics segment is likely to appear as one of the fastest growing end-use sectors over the coming years. Factors such as rising spending capacities coupled with growing awareness about the use of Bio-polyamides are projected to fuel the demand for the product over the forecast period.

Textiles accounted for the second-largest market share in 2016. This growth is attributed to favourable government regulation toward producing environment-friendly and energy-saving products. The textile segment is further expected to grow over the forecast period owing to its properties such as durability and strength amongst others.

Bio Polyamide Market: Regional Insights

Asia Pacific dominated the global demand for bio-polyamide in 2016. Factors such as growing industrial investment along with high economic growth rate in the developing economies such as India and China are likely to boost the market growth in this region.

North America has emerged to be the second largest consumer for polyamides in 2016.  The demand for bio-polyamide, in Europe and North America, is likely to grow at a steady rate due to market saturation across various end-user industries.

Bio Polyamide Market: End-Use Landscape

The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from the global bio polyamide market. The major consumers of the product are Bombay Dyeing, Aigle, and Axalta Coating Systems.

Bio Polyamide Market: Competitive Landscape

The dominant players are investing significantly in R & D activities to enhance their manufacturing process and develop new product portfolios to broaden the application and end-use area of bio-polyamides.

The major players profiled in the global bio-polyamide market include Honeywell International Inc., Invista, Materials Inc., BASF SE, E. I. du Pont de Nemours and Company, Formosa Group, Li Peng Enterprise Co., Radici Group, Solvay/Rhodia, Shenma Industrial Co. Ltd., and Royal DSM N.V. amongst others.

Please note: This is not an exhaustive list of companies profiled in the report.

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