Specialty polyamide is a division of polyamides that comprises different polyamides that hold superior properties such as recyclability, light weight, performance, and application over general polyamides. Specialty polyamide is used as a substitute for synthetic polyamide. It is preferred, as it is lightweight and provides high performance, flexibility, toughness, and abrasion resistance. Consumption of specialty polyamides has significantly increased over the last few years in automotive and electrical industries.
Global demand for specialty polyamides is rising due to advancements in chemical engineering. The use of specialty polyamides in various industries plays an integral role in market growth. End-uses of specialty polyamides span many industries. Polyamides are widely used to substitute silk and cotton in the textiles industry.
Key Drivers and Restraints of Global Specialty Polyamide Market
The specialty polyamide market has developed significantly of late. This can be primarily ascribed to the high performance of specialty polyamide due to their superior mechanical & thermal characteristics and improved humidity and temperature resistance. Specialty polyamide plays an important role in addressing several issues associated with the fuel efficiency. Rise in usage of specialty polyamide in automotive and transportation industries is expected to propel the specialty polyamide market during the forecast period.
Increase in usage of specialty polyamides in the automotive industry due to their lightweight and rise in concern about fuel efficiency are key factors fueling the specialty polyamide market. Stringent government regulations for environment safety are driving the specialty polyamide market. Most of the specialty polyamides are made from natural sources, which are recyclable. This is a major factor driving the specialty polyamide market. However, high cost of specialty polyamide inhibits the specialty polyamide market. Growth in concern about environment safety is projected to create new opportunities in the specialty polyamide market.
Specialty Polyamide: Type Segment
In terms of type, the global specialty polyamide market can be segmented into polyamide 6/10, polyamide 6/12, polyamide 10, polyamide 11, and polyamide 12
Together, polyamide 11 and polyamide 12 segments re expected to account for significant share of the global specialty polyamide market during the forecast period. They are anticipated to be followed by the polyamide 10 segment.
Specialty Polyamide: Application Segment
In terms of application, the global specialty polyamide market can be divided into automotive & transportation, electrical & electronics, consumer goods & retail, energy, and industrial coatings
The automotive & transportation segment accounts for large share of the market, as specialty polyamide is extensively used to manufacture lightweight vehicles. Additionally, increase in demand for fuel efficiency and eco-friendly products is drive the specialty polyamide market.
Covid-19 Impact on Specialty Polyamide Market
On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the specialty polyamide market.
Asia Pacific to Dominate Specialty Polyamide Market
In terms of region, the global specialty polyamide market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Asia Pacific dominated the specialty polyamide market in 2020. This trend is anticipated to continue during the forecast period due to the expansion of the automobile industry in the region. Additionally, the specialty polyamide market is expanding in the region due to extensive usage of the polyamide in electrical & semiconductor devices. Increase in disposable income of consumers is fueling the transportation industry in Asia Pacific. This, in turn, is anticipated the drive specialty polyamide market in the region.
The specialty polyamide market in North America is anticipated to expand at a rapid pace owing to the increase in awareness about the usage of eco-friendly substances in the region
Key Manufacturers Operating in Global Specialty Polyamide Market
The global specialty polyamide market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global specialty polyamide market include:
Evonik Industries AG
Arekma SA
BASF SE
DuPont
Koninklijke DSM N.V.
Asahi Kasei Corporation
LG Chem, Ltd.
INVISTA
Solvay S.A.
Radici Group
Teknor Apex
Clariant AG
Ascend Performance Materials LLC
Global Specialty Polyamide Market: Research Scope
Global Specialty Polyamide Market, by Type
Polyamide 6/10
Polyamide 6/12
Polyamide 10
Polyamide 11
Polyamide 12
Global Specialty Polyamide Market, by Application
Automotive & Transportation
Electrical & Electronics
Consumer Goods & Retail
Energy
Industrial Coatings
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aartimule Joined: April 16th, 2020 Articles Posted: 1,188
