Global Specialty Polyamides Market Report and Forecast 2024-2032

Global Specialty Polyamides Market Outlook

The global specialty polyamides market size reached a value of around USD 2.90 billion in 2023. The market is expected to grow at a CAGR of 6.1% between 2024 and 2032, reaching a value of around USD 4.96 billion by 2032.

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Key Trends in the Market

Specialty polyamides are a sub-group of polyamides that are made up of a variety of polymers that exhibit comparatively extraordinary characteristics and performance in a wide range of applications. These specialty polyamides have effectively replaced traditional materials in a variety of demanding applications due to their relative inelasticity, greater strength, and dimensional stability, as well as significantly superior chemical and thermal properties.

• The key specialty polyamides market trends propelling the market's expansion include the rising need for lightweight materials in the automotive and transportation sectors. The lightweight and abrasion resistant nature of the speciality polyamides makes them high performing, thus increasing their applications in transportation and automotive sectors.

• The market for speciality polyamides is being driven by strict rules for environmental safety placed by various governments across the globe. The majority of speciality polyamides are generated from recyclable and natural sources, this property of speciality polyamides is accelerating the specialty polyamides market growth.

• Specialised polyamides like polycaprolactam and polyphthalamides are used in electronics protection devices due to their insulation qualities and low flammability, thus increasing the use of specialty polyamides in electrical and electronics applications.

• Research and development activities for bio-based and specialty polyamides in addition to modernisation and technological improvements in manufacturing processes are increasing. This, in turn, is expected to positively impact the growth of the market for speciality polyamides over the forecast period.

Global Specialty Polyamides Market Analysis

Based on industry vertical, the market is segmented into automobile, consumer goods, industrial coatings, and electronics, among others. The regional markets for specialty polyamides are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global specialty polyamides market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Evonik Industries AG

• Arkema S.A.

• BASF SE

• DuPont de Nemours, Inc.

• Koninklijke DSM N.V.

• Asahi Kasei Corporation

• LG Chem Ltd.

• INVISTA

• Solvay

• Radici Partecipazioni SpA

• EMS-Chemie Holding AG

• UBE Corporation

• Kuraray Co., Ltd

• Mitsubishi Gas Chemical Company, INC.

• Toyobo CO., LTD.

• Others

Specialty Polyamides Market Share by Industry Vertical

The automobile industry vertical accounts for a significant share of the market owing to the widespread use of specialty polyamides in manufacturing lightweight vehicles. The growing usage of specialty polyamide in making automobile interiors is one of the key factors fuelling the specialty polyamides market growth. During the course of the forecast period, the market demand is anticipated to be driven by a strong demand for greener alternatives along with rising concerns about car fuel efficiency. Specialty polyamides are frequently employed in the automobile industry due to their ability to meet the demands of automotive thermal management components. Leading automakers are utilising specialised polyamides more frequently to create better and more efficient automobiles, this in turn is expected to further increase the applications of specialty polyamides in the automobile industry.

Specialty Polyamides Market Share by Region

The global market for specialty polyamides was led by Asia Pacific in the historical period, and led by China, India, and Japan, the Asia Pacific region is anticipated to grow at a significant CAGR over the forecast period. The primary factors influencing the expansion of the market in this region are the accessibility of skilled labour and raw materials at low costs as well as an increase in consumption capacity. Furthermore, due to favourable policies of governments in the region and a sizable untapped market, more international specialised polyamide producers are enhancing production and distribution capabilities in the Asia Pacific. The expansion of electronics sectors and the automobile manufacturing sectors in the region are also surging the demand for specialty polyamides.

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Competitive Landscape

Arkema S.A., founded in 2006 and headquartered in Colombes, France, specialises in innovative materials and specialty chemicals. The company provides adhesives, biobased materials, coatings, composites, health care products, and sporting goods. Arkema caters to industries such as agricultural, air conditioning, automotive, chemicals, coating, consumer goods, electrical, oil, health, packaging, plastics, pulp, rubber, sports, and water treatment.

Asahi Kasei Company, established in 1922 and based out of Tokyo, Japan, creates fibre goods, chemicals, and materials connected to electronics based on its core technology expertise in chemistry. The company manufactures and sells chemical products which are used by industries such as chemicals and fibres, electronics, healthcare, and construction.

Solvay was founded in 1863 and is currently headquartered in Brussels, Belgium. The company is a leader in materials, chemicals, and solutions with the mission of bringing advancements to water and air treatment, smart and medical devices, and other critical industrial, social, and environmental challenges through the use of vehicles, and batteries. Solvay manufactures and distributes specialty polymers, necessary chemicals, and chemical materials, among others.

Other market players include Evonik Industries AG, BASF SE, DuPont de Nemours, Inc., Koninklijke DSM N.V., LG Chem Ltd., INVISTA, Radici Partecipazioni SpA, EMS-Chemie Holding AG, UBE Corporation, Kuraray Co., Ltd, Mitsubishi Gas Chemical Company, INC., and Toyobo CO., LTD., among others.

Key Highlights of the Report