High Performance Polyamides Market Analysis Report By Type, By End-use Industry, By Region And Segment Forecasts From 2020 To 2027

Industry Insights

The global high-performance polyamides market size was accounted for USD 1.68 billion in 2019. The market is projected to register a 7.1% CAGR over the forecast duration, 2020 to 2027. Growing consumption of polyamides in the production of industrial brushes, insulation materials, and pipes among others is driving the growth of the segment. The demand for pharmaceuticals packaging, temperature guns, and other medical equipment has increased during the COVID-19 pandemic, which in turn, is further supplementing the growth of the market. However, the growth of the electrical and electronics segment is projected to be higher than that of the construction and healthcare industries.

The rapidly growing construction industry in the countries such as India, Mexico, the United States, Brazil, and China is projected to proliferate the demand for high-performance polyamides over the next few years. Owing to the flexible FDI norms, these countries are increasingly witnessing high investment from foreign companies. In addition, they have increased their spending on infrastructural development.

Growing healthcare expenditure in emerging countries and medical tourism in China and India are anticipated to drive the growth of the product in the healthcare sector. Established healthcare infrastructure in the countries such as the United States and European countries is further projected to bolster the segment growth.

Type Insights

Depending on the type, the polyamide 12 (PA 12) segment accounted for the highest share in the high-performance polyamides market with over 20.0% in 2019. Factors such as rigidity, surface hardness, excellent mechanical properties, and toughness are driving the growth of this segment. Polyamide 12 (PA 12) is increasingly used in manufacturing fuel lines, water pipes, trailer brake hoses, and football shoe soles among others. Features such as moisture barrier are further anticipated to augment the segment growth

The use of polyamide 6T (PA 6T) is popular for the production of puncture resistance and tough blister packs for the healthcare industry. COVID-19 outbreak has further surged the growth of this segment. Rapidly increasing COVID-19 patients globally has resulted in an increasing demand for healthcare products.

On the other hand, Polyamide 9T (PA 9T) segment is likely to register a 7.4% CAGR over the forecast duration. Increasing demand for this segment is attributed to the rising production of carpets, sportswear, kitchen utensils, and textiles products. Growing infrastructure and construction projects globally are anticipated to fuel the demand for lightweight and durable products, as a result, predicted to propel the segment growth.

End-use Industry Insights

Based on end-use, the automotive segment held over 35.0% shares in the high-performance polyamide (HPPA) market in 2019. Increasing demand for lightweight vehicles and growing penetration of electrical vehicles are bolstering the growth of this segment. The growing use of high-performance polyamides in the production of automotive components, especially in the Asia Pacific and South America, is driving the segment growth.

Owing to biocompatibility and optical clarity, high-performance polyamides are increasingly used in the production of medical devices. Polyamides such as polyamide 6T and polyamide 11 are blended together to achieve the required properties needed for medical device production.

High-performance polyamides are known to exhibit excellent chemical resistance, biocompatibility, and sterilization capability. However, certain polyamides are used in medical applications. Various regulatory frameworks decide the grade of plastic to be used for medical applications.

Regional Insights

In 2019, Asia Pacific held the highest share in the market with more than 40.0%. COVID-19 has led to a rise in the expenditure on healthcare, which in turn, has positively affected regional growth. The demand for test kits, medical equipment, and containers among others has witnessed increased growth during COVID-19. Further, with growing demand from non-residential construction sectors such as schools, hospitals, and others, the construction industry is anticipated to witness an increased demand in the region.

North America held the second position in terms of market share in 2019. Growing end-use industries like healthcare, construction, automotive, consumer electronics and consumer goods are driving regional growth. The European market, on the other hand, is driven by the increasing demand for polyamide 46 (PA 46) and polyamide 12 (PA 12) for the packaging of food and pharmaceuticals products.

COVID-19 Impact Analysis

COVID-19 has generated a mixed response for the high-performance polyamides market. The product demand has increased considerably in the healthcare sector owing to the increasing use of test kits and other medical equipment. However, other sectors such as automotive, construction, and consumer goods have witnessed considerably low demand owing to the closure of various industrial operations. Disruption in raw materials supply is caused due to COVID-19 is the major factor affecting the market growth. Nonetheless, with the reopening of various economic activities, the market is anticipated to recover over the next couple of years.

High-Performance Polyamide Market Share Insights

Key players in the market are competing based on the quality of the product and technological upgradation. Companies are also focusing on expanding their manufacturing base along with increasing their spending on research and development. These strategic initiatives would help in competitive pricing and increasing the customer base. The market is characterized by the presence of both regional and international players. Major market participants are KURARAY CO., LTD., Koninklijke DSM N.V., RTP Company, and Solvay among others.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global high-performance polyamides market report on the basis of type, end-use industry, and region:

• Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • Polyamide 6T (PA 6T)
    • Polyarylamide (PARA)
    • Polyamide 12 (PA 12)
    • Polyamide 9T (PA 9T)
    • Polyamide 11 (PA 11)
    • Polyamide 46 (PA 46)
    • Polyphthalamides (PPA)

• End-use Industry Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • Automotive
    • Electrical & Electronics
    • Consumer Goods
    • Medical & Healthcare
    • Building & Construction
    • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • The U.K.
        • France
        • Italy
    • The Asia Pacific
        • China
        • India
        • Japan
        • Thailand
    • Central & South America
        • Brazil
        • Argentina
    • Middle East & Africa
        • Saudi Arabia
        • South Africa