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Bio-based & Synthetic Polyamide Market Size, Share and Industry Analysis Report by Type (PA6, PA66) and End-user (Automotive, Packaging, Construction, Electrical & Electronics), Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2027

  • Report ID: GMI2939
  • Published Date: Dec 2021
  • Report Format: PDF

Industry Trends

Global Bio-based & Synthetic Polyamide Market size was registered at about USD 30 billion in 2020 and is expected to showcase considerable growth at a CAGR of 5.3% from 2021 to 2027. The increasing product applications in the packaging industry and the growing demand for polyamides in various end-user industries, such as electrical & electronics, automotive, construction, and textiles, is augmenting the business growth.
 

Polyamide has been actively looked at as a replacement for metals to minimize the weight of automotive, consumer goods, and various electronic products. Bio-based & synthetic polyamides primarily exhibit a good coefficient of friction, high wear resistance, increased temperature resistance, and impact properties.
 

Bio-based & Synthetic Polyamide Market Outlook

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The packaging industry is witnessing significant growth due to growth in various end-user industries, particularly increased demand for packaging in the food & beverage and e-commerce industries. In the food packaging system, bio-based & synthetic polyamides are often utilized as they provide strength & toughness and possess excellent heat resistance properties along with moisture resistance.
 

According to the World Packaging Organization, global packaging industry turnovers was over USD 900 billion in 2019 and is expected to witness moderate growth over the next few years. Increased product application as a packaging material is expected to drive the bio-based & synthetic polyamide market share from 2021 to 2027.
 

Easy availability of substitutes and stringent government regulations are factors that are likely to hamper the bio-based & synthetic polyamide market growth during the forecast period. Moreover, the recent COVID-19 pandemic has negatively impacted the industry size due to the economic slowdown experienced by various countries.
 

Various end-user industries were severely impacted due to stringent lockdowns imposed by various governments around the world. However, as the restriction on various end-user industries is on the retreat, product demand is also expected to come back to normal. Moreover, increasing applications of bio-based & synthetic polyamides in the automotive industry along with the electrical & electronics industry are expected to positively impact the market.
 

PA6 will dominate the market share

Bio-based & Synthetic Polyamide Market by Type

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Based on type segment, PA6 was valued at over USD 13 billion in 2020 and is expected to reach USD 19 billion by 2027. Polyamide 6 is a semi-transparent polymer that exhibits excellent thermoplasticity along with good chemical resistance and durability after some modification. It also exhibits a smooth surface and has a small friction coefficient along with good wear resistance.
 

Its non-toxic and odorless properties make it an excellent candidate to be utilized in various industries. The high mechanical strength, compressive strength, and high tensile properties find use in the automotive industry. The growing demand from various end-user industries for a material that exhibits high mechanical strength and good chemical resistance will propel the bio-based & synthetic polyamides market revenue during the projected period.
 

The automotive sector will foster the business growth

Bio-based & Synthetic Polyamide Market by End Use

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The automotive end-use industry segment will witness a CAGR of 5.6% through 2027. The growing need for lightweight automotive and reduced fuel consumption is compelling various automotive manufacturers to search for materials that can act as a substitute for metals and aid in reducing automotive weight. Bio-based & synthetic polyamides have increasingly been utilized as a metal substitute in the automotive sector to reduce vehicle weight.
 

The growing automotive industry, primarily in the emerging economies, is driving the demand for bio-based & synthetic polyamides. Automotive sales are also on the rise as the demand for electric vehicles is expected to grow significantly. The rising electric vehicles market, as can be evident from over 1.3 million electric vehicles in China, is expected to drive the product demand during the projected period.
 

Asia Pacific will lead the bio-based & synthetic market share

Bio-based & Synthetic Polyamide Market by Region

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Asia Pacific will exceed USD 24 billion in the bio-based & synthetic industry by 2027 owing to the robust industrialization, increasing demand from various end-user industries, and cost-effective manufacturing. The growing automotive and electrical & electronics industry in the region is anticipated to positively impact the market growth owing to increased consumption of electronic products, primarily by China, India, South Korea, etc.
 

Moreover, the presence of numerous electrical and electronics industry players in the region is further driving the market for bio-based & synthetic polyamides. The growing penetration of electric vehicles in the region is another factor driving the product demand in the region. Various governments in the region are working on building and developing the infrastructure necessary for electric vehicles along with introducing the necessary regulation for driving the demand for electric vehicles in the region.
 

Mergers & acquisitions and capacity expansion to drive market growth

The bio-based & synthetic industry participants are primarily focused on forming strategic partnerships to increase their market presence and drive their revenue generation. Various companies associated with the bio-based & synthetic polyamide market are forming mergers & acquisitions and working on product capacity expansion along with boosting their research & development capabilities.
 

For instance, in May 2019, Evonik started constructing a new facility for polyamide 12 along with the capacity expansion of transparent polyamides. Moreover, in September 2017, BASF acquired Solvay’s integrated polyamide business situated outside Europe.
 

Various industry players associated with the bio-based & synthetic polyamide market are BASF SE, Evonik, Arkema, Koninklijke DSM N.V., Asahi Kasei Corporation, Lanxess, RTP Company, UBE INDUSTRIES LTD., Grupa Azoty, Dow Chemicals, EMS-CHEMIE, Invista, Toray, Teijin Aramid B.V., AdvanSix Inc., etc.
 

The bio-based & synthetic polyamide industry report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2021 to 2027 for the following segments:

By Type

  • PA6
  • PA66
  • Others

By End-user

  • Automotive
  • Packaging
  • Construction
  • Electrical & electronics
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

 

Authors: Kiran Pulidindi, Hiralkumar Patel

Frequently Asked Questions (FAQ) :

Bio-based & synthetic polyamide industry share is slated to exceed $43 billion by 2027 and is anticipated to exhibit a CAGR of 5.3% between 2021 and 2027 owing to rising product application in the packaging sector.

The market revenue from PA6 products was more than USD 13 billion in 2020 and will exceed USD 19 billion by 2027 owing to numerous properties such as compressive strength, mechanical strength, and high tensile properties that enhance product usage across the automobile industry.

The market share from automotive is expected to grow at a CAGR of 5.6% up to 2027 considering the surging requirement for lightweight automotive and decreased fuel consumption.

Asia Pacific bio-based & synthetic polyamide industry value will surpass USD 24 billion through 2027 with the soaring demand from numerous end-user industries, cost-effective manufacturing, and robust industrialization.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 15
  • Tables & Figures: 171
  • Countries covered: 18
  • Pages: 160

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