The transparent polyamide market is projected to grow at a rate of 3.1% in terms of value, from USD 23.43 Billion in 2020 to reach USD 29.89 Billion by 2028. The growth of transparent polyamide can be mainly associated with the increasing demand from the automotive and electrical and electronics industry in developed and emerging countries, which is anticipated to drive the market. Transparent polyamide provides benefits comprising strength and robustness, excellent blend of stiffness, heat resistant.
Also, it resists solvents much better as compared to polycarbonate. Automotive manufacturers mostly prefer polyamides due to their ability for high performance at low cost. Manufacturers are moving towards polyamides for different applications such as coatings and films due to the steady rise in raw materials prices in the automotive industry.
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Top Players in the Global Transparent Polyamide Market:
BASF SE, Formosa Group, Honeywell International Inc. Invista, Du Pont de Nemours and Company, Li Peng Enterprise Co., Radici Group, Solvay, Royal DSM N.V.,Ascend Performance Materials Inc. Huntsman, Koch industries, Royal DSM N.V., Shenma Industrial Co. Ltd., Rhodia, Lanxess, and Arkema.
The rise in the automotive industry is due to the growing disposable income of consumers and the increase in transportation activities across the world. Rising demand from applications in the electronics and coatings industry is also expected to drive the market further. Growth in construction activities and increasing population are major driving factors for the electronics and coatings industry. Low cost of production and high-performance factors such as chemical wear resistance and insulation makes ideal polyamide choice to be used in electrical and electronic applications.
The COVID-19 pandemic is having a significant impact on the transparent polyamide industry. Demand for the product is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
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Market segmentation based on Product Type Outlook:
- PA 6
- PA 66
- Fiber Grade
- Injection Molding Grade
- Extrusion Grade
- Electrical Electronics
- Films Coatings
- Industrial Machinery
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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