Polyamides are a kind of polymer that is accessible both artificially and naturally. The high-performance polyamides are synthesized artificially and are thermoplastic resin. These are integrated with polymers and additives to form a composite. It possesses the properties of being light-weighted, mechanical strength, and chemical resistivity to heat & temperature. Due to their lightweight property, they are widely replacing the metal parts in the automobile sector to improve fuel efficiency. These find huge applications in electronics, electrical, defense, automotive, and industrial applications.
Global High Performance Polyamides Market: Growth Factors
The growing utilization of high-performance polyamides in the automotive sector to manufacture multitudes of under-the-hood components like gear shift modules and hoses is one of the primary reasons for the growth of the global high-performance polyamides market. These polyamides are fire-resistant materials that produce a lesser amount of smoke, thereby these materials are widely preferred in the aerospace sector. The automotive sector needs high strength-to-weight ratio materials to enhance vehicle performance. It is the primary reason that the automobile sector highly relies on advanced materials like high-performance polyamides and is effectively substituting metal parts. However, the speedy recovery in the automotive sector post-Covid-19 is likely to significantly accentuate the demand for high-performance polyamides globally. The manufacturers are boosting their investments to fuel the research and development activities in the field of high-performance polyamides due to their emerging applications in various sectors. However, the ongoing technological advancements are likely to open several lucrative growth opportunities in the forthcoming years. These materials are being widely utilized in the electrical sector as these are regarded as the best material for high voltage applications and microelectronics. Because of its various advantages including high electrical insulation, low dielectric constant, and high glass transition temperature, these materials are regarded as optimal for various applications in the electrical sector.
Global High Performance Polyamides Market: Segmentation
The global high-performance polyamides market can be segmented into end-user, type, manufacturing process, and region.
By end-user, the market can be segmented into medical, industrial, electrical & electronics automotive, transportation, and others.
The automotive segment dominates the global high-performance polyamides market due to the growing demand for electric vehicles among people. Furthermore, the growing initiatives from the government to boost the growth of electric vehicles are likely to escalate the growth of the segment in the forthcoming years.
By type, the market can be segmented into PPA, PARA, PA 9T, PA 46, PA 12, PA 11, and others. The PA 12 segment accounts for the largest share in the global high-performance polyamides market due to its excellent properties like toughness, strength, and mechanical properties. Its capability to offer moisture barriers is further widening the scope of its usage in the global high-performance polyamides market.
By manufacturing process, the market can be segmented into blow molding and injection molding.
Global High Performance Polyamides Market: Regional analysis
Asia Pacific accounts for the largest share in the global high-performance polyamides market due to the presence of a strong consumer base in the region. The rapidly proliferating electrical and automotive sector in the region will further escalate the growth of the regional market. Also, the growing initiatives from the government to boost the adoption of electric vehicles to lower carbon emissions are likely to accentuate the growth of the regional market in the forthcoming years.
North America is expected to witness the fastest growth in the forthcoming years due to the growing technological advancements in the field of high-performance polyamide materials. Moreover, the growing construction activities in the region will also complement the growth.
Global High Performance Polyamides Market: Competitive Players
Some of the significant players in the global high-performance polyamides market are Ascend, EMS chemie holding AG, Radici Group SpA, Lanxess, Kuraray Co.Ltd, Toray Industries Inc., Solvay, DSM, Evonik Industries AG, DuPont, BASF SE, and Arkema S.A.