Specialty Polyamide Market Dynamics
The global specialty polyamide market is expected to exhibit steady growth over the forecast period, according to the latest research report from Market Research Future (MRFR). The growing demand from the transportation sector is likely to be a crucial driver for the global specialty polyamide market over the forecast period, according to the report.
Specialty Polyamide Market Competitive Analysis:
Leading players in the global specialty polyamide market include Radici Group, INVISTA S.r.l., Solvay S.A., LG Chem Ltd., E.I. DuPont de Nemours and Company, Koninklijke DSM N.V., Asahi Kasei Corporation, Arkema SA, BASF SE, and Evonik Industries AG.
In July 2019, Evonik, one of the leading players in the global polymers market size, confirmed their presence at the 2019 K2019 plastics trade show in Dusseldorf.
Specialty Polyamide Market Segmentation:
The global specialty polyamide industry is segmented on the basis of application and region.
By application, the global specialty polyamide market report is segmented into transportation, energy, consumer goods, electronics, industrial coatings, and others.
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Specialty Polyamide Market Regional Analysis:
The global specialty polyamide market is expected to be dominated by Asia Pacific over the forecast period, followed by North America and Europe. The growing transportation industry in Asia Pacific is likely to be a major driver for the global specialty polyamide market, as the growing demand for passenger vehicles in the cheap price range has driven up the demand for specialty polyamides in various transportation applications. Growing government support to automotive manufacturing in Asia Pacific countries such as China, Japan, South Korea, and India is likely to be a major driver for the specialty polyamide market in the region. The growing demand for mass transportation vehicles such as buses is also likely to be a major market driver for the specialty polyamide market over the forecast period, as government-planned schemes for public transportation have sprung up at great pace across Asia Pacific in the last few years. Many countries have taken major steps to spruce up their public transportation network, with better designed buses, electric vehicles, and more, leading to a growing demand from the specialty polyamide market over the forecast period.
The growing consumer goods and electronics industries in Asia Pacific are also conducive to smooth growth of the specialty polyamide market. Specialty polyamides are used in a number of consumer electronics and other goods due to their superior thermal resistance and physical durability. The rising demand for consumer goods and electronics in Asia Pacific countries such as India, Thailand, Indonesia, Malaysia, China, Taiwan, South Korea, Australia, New Zealand, and Japan is likely to be a major driver for the specialty polyamide market in the region. The growing demand for physically robust consumer electronics rather than electronics with flashy gadgetry and fluff is likely to drive the demand for specialty polyamides in the region over the forecast period. The rising electric vehicle industry in Asia Pacific is also likely to be a major driver for the specialty polyamide market in the region over the forecast period.
Europe is also likely to be a major growth center for the specialty polyamide market over the forecast period due to the steady growth of the automotive industry in the region. Rising demand for specialty polyamides in transportation applications is likely to be a major driver for the specialty polyamide market in Europe.
Among the rest of the world, Brazil is likely to exhibit strong growth in the coming years due to the growing government support to the public transportation sector in the region. The Middle East could also emerge as a major revenue generator for the specialty polyamide market due to the growing demand in automotive applications in the UAE, Saudi Arabia, Kuwait, Qatar, and other influential countries in the region.
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