Bio-Polyamide Market Is Anticipated To Witness Significant Growth Prospects With Rising CAGR By 2025|Grand View Research, Inc.
The global bio-polyamide market size is anticipated to be valued at USD 327.3 million by 2025, according to a new report by Grand View Research, Inc. The increasing demand for bio-polyamides from the automotive, electronic & electrical, and textile industries is projected to drive the market in the next few years.
Reduction in the carbon footprint is a major factor that has contributed to the extensive use of eco-friendly products in various sectors. The superior properties of bio-polyamides, such as their high chemical resistance, low moisture absorption, excellent mechanical properties, and high thermal stability, have driven their usage in various applications as compared to their petrochemical-derived alternatives.
Legislation pertaining to the use of renewable products in Europe and North America along with the increasing awareness about the environmental degradation caused by the extraction of petroleum derivatives are expected to propel the bio-polyamide market over the forecast period. Synthetic surfactants are derived from petrochemicals. The stringent regulations enforced due to environmental concerns regarding the toxicity of synthetic surfactants are also likely to drive bio-polyamide market over the forecast period.
Key players in the market include Evonik Industries, Huntsman Corporation, Lanxess AG, Ube Industries, Ltd., and BASF SE
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/bio-polyamide-market/request/rs4
Bio-polyamide is developed from monomers extracted from castor oil. India is the largest producer of castor seeds and accounts for over 80% of the global production, followed by China and Brazil. The surge in consumption of organic and natural products is expected to create lucrative growth opportunities for the global castor oil and derivative market in the next few years.
Further key findings from the report suggest:
PA-6 also displays long-term heat resistance, excellent surface quality, and creep & UV resistance. It is priced lower than PA-66, thereby complementing its acceptance in the industry. In the automobile sector, PA-6 is used in crash-active engine covers, oil pans, transmission cross beams, and air intake manifolds.
In terms of both volume and revenue, PA-66 is anticipated to progress at the fastest CAGR over the forecast period owing to its superior properties. Its higher modulus and better wear resistance along with the ability to absorb lower moisture as compared to PA-6 make PA-66 suitable for use in applications such as electrical & electronics and automotive.
The development of end-use industries such as manufacturing, automobile, electrical & electronics, and marine is boosting the product demand globally. Europe was the largest market for PA-66 in 2016 and is anticipated to ascend at the fastest CAGR in the coming years owing to the growth of automotive, consumer goods, and textile industries.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-bio-polyamide-market
Bio-polyamides are used in fibers, films, and powders as well as injection molding and extrusion. Engineering plastics accounted for a market share of over 60% in 2016. Bio-polyamides have been attracting attention from various end-use sectors in the recent years owing to their recyclability, electromechanical resistivity, ductility, and creep resistance.
Developments in energy saving and increasing demand for environment-friendly solutions are anticipated to augment the market growth over the forecast period. Engineering plastics are widely consumed in the automobile and electronic sectors on account of their lightweight properties and high strength-to-weight ratio.
Grand View Research has segmented the global bio-polyamide market on the basis of product, application, end use:
Bio-Polyamide Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Reduction in the carbon footprint is a major factor that has contributed to the extensive use of eco-friendly products in various sectors. The superior properties of bio-polyamides, such as their high chemical resistance, low moisture absorption, excellent mechanical properties, and high thermal stability, have driven their usage in various applications as compared to their petrochemical-derived alternatives.
Legislation pertaining to the use of renewable products in Europe and North America along with the increasing awareness about the environmental degradation caused by the extraction of petroleum derivatives are expected to propel the bio-polyamide market over the forecast period. Synthetic surfactants are derived from petrochemicals. The stringent regulations enforced due to environmental concerns regarding the toxicity of synthetic surfactants are also likely to drive bio-polyamide market over the forecast period.
Key players in the market include Evonik Industries, Huntsman Corporation, Lanxess AG, Ube Industries, Ltd., and BASF SE
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/bio-polyamide-market/request/rs4
Bio-polyamide is developed from monomers extracted from castor oil. India is the largest producer of castor seeds and accounts for over 80% of the global production, followed by China and Brazil. The surge in consumption of organic and natural products is expected to create lucrative growth opportunities for the global castor oil and derivative market in the next few years.
Further key findings from the report suggest:
- The global bio-polyamide market was valued at USD 110.5 million in 2016 and is projected to ascend at a CAGR of 12.9% from 2017 to 2025
- The PA-6 segment occupied the largest market share and is expected to witness an estimated CAGR of 12.7% from 2017 to 2025
- PA-66 is estimated to be the fastest growing segment owing to its higher modulus, better wear resistance, better short term thermal strength, and ability to absorb slightly less moisture as compared to PA-6
- Massive investments made in the automotive, electronic, and textile industries are anticipated to influence the market growth positively in the next few years
- Engineering plastics occupied the largest market share in 2016 and is projected to progress at the highest CAGR over the forecast period on account of its broad application scope
- The automotive segment of the market by end use is predicted to ascend at the highest CAGR in the next few years owing to the development of automobile technologies
- Key players in the market include Evonik Industries, Huntsman Corporation, Lanxess AG, Ube Industries, Ltd., and BASF SE
- Patented manufacturing technologies and high raw material costs have restricted the entry of new players into the market. Increasing R&D efforts are projected to result in the emergence of new players in the industry.
PA-6 also displays long-term heat resistance, excellent surface quality, and creep & UV resistance. It is priced lower than PA-66, thereby complementing its acceptance in the industry. In the automobile sector, PA-6 is used in crash-active engine covers, oil pans, transmission cross beams, and air intake manifolds.
In terms of both volume and revenue, PA-66 is anticipated to progress at the fastest CAGR over the forecast period owing to its superior properties. Its higher modulus and better wear resistance along with the ability to absorb lower moisture as compared to PA-6 make PA-66 suitable for use in applications such as electrical & electronics and automotive.
The development of end-use industries such as manufacturing, automobile, electrical & electronics, and marine is boosting the product demand globally. Europe was the largest market for PA-66 in 2016 and is anticipated to ascend at the fastest CAGR in the coming years owing to the growth of automotive, consumer goods, and textile industries.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-bio-polyamide-market
Bio-polyamides are used in fibers, films, and powders as well as injection molding and extrusion. Engineering plastics accounted for a market share of over 60% in 2016. Bio-polyamides have been attracting attention from various end-use sectors in the recent years owing to their recyclability, electromechanical resistivity, ductility, and creep resistance.
Developments in energy saving and increasing demand for environment-friendly solutions are anticipated to augment the market growth over the forecast period. Engineering plastics are widely consumed in the automobile and electronic sectors on account of their lightweight properties and high strength-to-weight ratio.
Grand View Research has segmented the global bio-polyamide market on the basis of product, application, end use:
Bio-Polyamide Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- PA-6
- PA-66
- Specialty Polyamides
- Fiber
- Engineering Plastics
- Textile
- Automotive
- Film & Coating
- Consumer Goods
- Industrial
- Electrical & Electronics
- Others
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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