Global High-Performance Polyamides Market was valued at USD 2,642.1 Million in 2018 and is expected to grow at 5.5% CAGR during the review period.
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High Performance Polyamide belongs to aspecial class of polyamide, they can be formulated to offer improved properties when compared with conventional polyamide. They exhibit good impact strength, exceptional stiffness, and high dimensional stability. Other advantages include high chemical resistance, low moisture absorption, and excellent heat stability even at elevated temperature.
With the aforementioned reasons, the High Performance Polyamide are widely utilized in numerous end use industries such as sports & leisure, electrical & electronics, aviation & automobile, medical, and other.
Some of the prominent factors that positively influence the growth of High Performance Polyamide Market are increasing industrialization, improving standard of living, and rising consumption of High Performance Polyamide. Moreover, increasing demand from sports & leisure industry as well as continuous growth of electrical & electronics sector drives the growth of the market. Rapid urbanization coupled with increasing disposable income in developing economies likely to fuel the growth of the market during the review period. However, High Performance Polyamide are relatively expensive than the other conventional polyamide, which may hinder the growth of the market. Moreover, increasing threat form hybrid polymers as a substitute is predicted to hamper the market growth.
The Global High Performance Polyamide is categorized on the basis of product, end use industry, and region. On the basis of product, the market is classified into PA11, PA12, PA46, PA9T, polyphthalamides (PPA), polyarylamide (PARA). Among these, PA11 is expected to be the largest market segment, in 2016 due to its easy availability and cost-effective nature. Moreover, PA11 finds a broad range of application in automotive, sports, and electronics. PA9T is predicted to be the fastest growing segment on account of its high adoption rate in numerous end use industries. Furthermore, it exhibits outstanding thermal stability and chemical & mechanical resistance. With the above-mentioned properties it is widely used in the manufacturing of various application such as coolant systems, pumps & valves, shaft seals, surgical equipment, and electronics product. On the basis of end use industry, the market is segmented into aviation & automobile, electrical & electronics, sports & leisure, medical and others. Other end use industry include building & construction and oil & gas. Among these, aviation & automobile holds the largest market share in 2016 and is predicted to continue its dominance on account of increasing demand in the manufacturing of exterior and interior components in the aviation and automobile industries. Moreover, rising usage of these polymers in the manufacturing of hydraulic control lines, siphon string, and pipe liners is estimated to propel the demand for High Performance Polymer.
Asia Pacific is predicted to be the largest High Performance Polyamide Market followed by North America and Europe due to rising demand from aviation, automobile, electrical & electronics, and medical industries. Developing countries such as India, China, Vietnam, and Malaysia are the fastest growing markets for the High Performance Polyamide, and is predicted to grow with the same pace over the forecast period. North American High Performance Polyamide Market is predicted to witness a steady growth since the U.S. and Canada are among the major contributors in the regional market growth due to expanding healthcare sector. In Europe, High Performance Polyamide Market is estimated to grow with the significant rate on account of wide utilization in automotive sector. The Middle East & Africa is estimated to witness an average growth owing to rising investment in construction sector.
The major players operating in the High Performance Polyamide Market include BASF SE (Germany), Evonik Industries (Germany), Royal DSM N.V. (the Netherlands), Arkema SA (France), KURARAY CO. LTD (Japan), Solvay (Belgium), SABIC (Saudi Arabia), DuPont (U.S.), LANXESS (Germany), Mitsui Chemicals, Inc. (Japan), and others.
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