Key Players
Leading players profiled in the transparent polyamides market report include Solvay (Belgium), INVISTA (US), LANXESS (Germany), DuPont de Nemours, Inc (US), DSM Engineering Plastics BV (The Netherlands), GEHR Plastics, Inc (US), Evonik Industries AG (Germany), BASF SE (Germany), Arkema (France), and EMS-CHEMIE HOLDING AG (Switzerland), among others. Key players have incorporated different strategies to suffice the growing requirements of consumers and also create a niche in the market. These include joint ventures/partnerships, research, and development activities, mergers and acquisitions, collaborations, product developments and launches, and more.
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Market Analysis
The global transparent polyamides market is predicted to touch USD 2.5 billion at a 7% CAGR over the forecast period (2019-2024), states the new Market Research Future (MRFR) report. Transparent polyamides, simply put, are amorphous polyamides that have been specially designed for use in transparent applications as a substitute to polycarbonate and other high-priced transparent polymers. Bio-based polyamide, polyamide 12, polyamide 66, and polyamide 6 are the major types of polyamides. Owing to its alluring features and plentiful benefits transparent polyamides are extensively used for manufacturing different products for sports and leisure industries, packaging, consumer care, healthcare, electrical and electronics, and automotive through extrusion processes, blow molding, and injection molding.
Various factors are propelling the transparent polyamides market growth. These factors, according to the latest MRFR report, include growing demand in the automotive industry both in emerging and developed countries, rising disposable income of consumers, worldwide increase in transportation activities, growing demand from coatings and electronics industry, increasing population, and growing construction activities.
On the contrary, tough competition from composites and hybrid polymers may hamper the transparent polyamides market growth over the forecast period.
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Regional Analysis
By region, the transparent polyamides market report covers the latest trends and growth opportunities across North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa. Of these, the APAC region will remain the frontrunner in the market over the forecast period. Factors aiding market growth in the region include growing electrical and electronics, and automotive industries, expanding consumer goods industry due to rise in per-capita income and changing consumer preferences. Thailand, China, and India are the key contributors in this region.
The transparent polyamides market in North America is predicted to have the second-largest share in the market over the forecast period. Factors aiding market growth in the region include the growing automotive and healthcare industries and large-scale utilization of transparent polyamides to manufacture automobile parts.
The transparent polyamides market in Europe will have a favorable growth over the forecast period while in Latin America and the Middle East and Africa will have slow growth.
Market Segmentation
The MRFR report provides a complete segmental analysis of the transparent polyamides market report on the basis of end use industry and type.
Based on type, the Transparent Polyamides Market is segmented into bio-based polyamide, polyamide 12, polyamide 66, polyamide 6, and others. Of these, the polyamide 12 segment will have the largest share in the market over the forecast period. Low density, high heat distortion temperature, excellent flexural bonding strength, high transparency, and chemical resistance that polyamide 12 offers make it a highly preferred polyamide, among others. This will be followed by bio-based transparent polyamides.
Based on end use industry, the transparent polyamides market is segmented into sports and leisure, packaging, consumer goods, healthcare, electrical and electronics, automotive, and others. Of these, the automotive industry will dominate the market over the forecast period. Factors aiding the growth in this segment include the different benefits that transparent polyamides offer such as lower water absorption, high flexural fatigue strength, stiffness, easy processing, and transparency. This will be followed by the consumer goods segment that is predicted to grow at the highest CAGR.
April 2019: Evonik will soon expand its transparent polyamides production for catering to the growing demand for high-performance polymers. This expansion, along with strengthening the company’s market position as a consistent solutions provider and partner for specialty applications, will also create a vital latitude to develop new products.
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