PUBLISHER: SkyQuest | PRODUCT CODE: 1205823
PUBLISHER: SkyQuest | PRODUCT CODE: 1205823
Global High Performance Polyamide Market was valued at USD 2.79 billion in 2021 and is expected to reach USD 4.61 billion by 2028, at a CAGR of 7.45% during the forecast period (2022-2028).
Over the forecast period, the market is expected to grow as a result of rising polyamides consumption in the manufacturing of pipes, insulation materials, industrial brushes, and other products that are used in a variety of end-use industries, including building and construction, automotive, and electrical and electronics. The need for numerous medical and healthcare products has grown, including packaging for pharmaceuticals and temperature guns. In turn, this fuels the end-use industrial segment serving the medical and healthcare sectors' demand for high-performance polyamide.
Top-down and bottom-up approaches were used to estimate and validate the size of the global high performance polyamide market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
The global high performance polyamide market is segmented on the basis of type, manufacturing process, end users, and region. According to polyamide type, the market is segmented into PA 11, PA 12, PA 46, PA 9T. On the basis of the manufacturing process, it is bifurcated into injection molding and blow molding processes. According to end users, it is categorized into Automotive, Electrical & Electronics, Industrial, and Medical. Based on the region it is segmented as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Over the forecast period, the demand for high-performance polyamides, such as pipes, liners, and insulations, is anticipated to be driven by the expansion of the construction industry in North America and Asia Pacific regional markets, including Brazil, China, India, the U.S., and Mexico. The loosening of FDI standards and requirements for the redevelopment of public and industrial infrastructure is largely responsible for the increase in foreign investment in these nations' construction markets.
Synthetic polyamides are restricted from being widely used because of their harmful effects on human health and the expansion of environmental legislation. In the coming years, this aspect will have a negative effect on the market expansion. The high cost of high-performance polyamides will limit their market expansion. The availability of numerous alternatives will also hinder market expansion.
The COVID-19 pandemic condition is driving a growing need for medications and pharmaceutical packaging goods, which will fuel the market expansion for high performance polyamides over the forecast period.