Specialty Polyamides Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
global specialty polyamides market size is estimated to
reach USD 3.54 billion by 2025, according to a new study by Grand View
Research, Inc., progressing at a CAGR of 6.0% during the forecast period.
Rising concerns regarding automotive fuel efficiency and favorable government
regulations regarding the use of polyamides in the automotive, textile, and
consumer goods industries are expected to drive the global market over the
forecast period.
With
increasing focus on green technologies and sustainability, the use of specialty
polyamide in the automotive industry is likely to increase over the forecast
period. Globalization, coupled with an increase in disposable income of
consumer, is poised to propel the global automotive market, which is further
expected to augment specialty polyamides market.
Specialty
polyamides find various applications in automotive & transportation,
industrial, and electrical & electronics sectors in North America owing to
its superior qualities such as high thermal stability, good chemical
resistance, low flammability, and enhanced mechanical properties.
The
automotive & transportation industry accounted for the highest demand in
2017. Specialty polyamides are being used in diverse applications in automobile
manufacturing, including automobile interiors, undercarriages, and under the
hood, as replacements for petroleum-based plastics.
Flourishing
commercial aviation sector is also contributing towards market growth.
Globalization has increased the number of passengers availing aviation
services. An increase in the number of travelers has boosted the commercial
aviation market, which, in turn, has positively influenced the growth of the
specialty polyamides market.
Further key
findings from the report suggest:
- In terms of
revenue, Asia Pacific dominated the overall specialty polyamides market in
2017. It is projected to expand at a CAGR of 6.7% over the forecast
period. Increasing demand from various application segments in the region,
particularly in China and India, is anticipated to augment the market
- The long chain
segment was the largest product segment in the market in 2017. It is also
estimated to dominate the market through 2025
- The electric
& electronics segment is expected to expand at the highest CAGR of
6.7% in terms of value over the forecast period on account of increasing
demand for display technologies, home electronics, mobile electronics,
smart devices, electrical components, and household products
- North America
is likely to rise at a CAGR of 6.0% in terms of revenue over the forecast
period owing to increasing product demand from automotive and electronics
industries.
Access full
research report on global specialty polyamides market:
www.grandviewresearch.com/industry-analysis/specialty-polyamides-market
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Created on Oct 24th 2019 06:27. Viewed 426 times.