Overview:

High-performance polyamides (HPPA) has proved its mettle in the market by exhibiting excellent strength, high chemical resistance, and high dielectric strength. As the new Market Research Future (MRFR) report suggests, the global high-performance polyamide market is expected to reach approx. USD 3473 Mn by 2023. It is anticipated to expand at a CAGR of 6.1% during the forecast period (2021 - 2030).

Drivers and Restraints:

Due to the ability of polyamides to withstand extreme conditions, such as heat, chemicals, and moisture, high-performance polyamides are preferred materials for diverse industries. In the automotive sector, High-Performance Polyamides Market Share has garnered much praise for reducing the weight of cars by replacing metal. This contribution is expected to spur the demand for high-performance polyamide further.

The superior tear resistance and flex fatigue offered by high-performance polyamide assists manufacturers in producing thinner and smaller components for electronic devices. This kind of innovation is bound to boost its demand in electrical and electronics industry across the globe.

Among the other factors proving vital for the global high-performance polyamide market is the increasing demand from consumer goods, sportswear, cosmetic, and personal care products sectors. The change in lifestyle coupled with high disposable income levels is anticipated to propel the high-performance polyamides market growth.

However, stringent regulations regarding eco-friendly usage may challenge the market growth. Also, it is experiencing fierce competition from hybrid polymers and composites, thus, hindering the global high-performance polyamide market growth.

Segmentation:

The high-performance polyamide market is segmented by type, application, and region.

Based on the type, the market is further categorized into polyamide 10, polyamide 11, polyamide 12, polyamide 6T, and others. Polyamide 12 segment accounted for around 33.50% market share in terms of revenue. Polyamide 12 has excellent chemical resistance, absorbs less water, and accepts the high loading of fillers over nylon.

Major market applications include transportation, consumer goods, oil and gas, industrial coatings, electrical and electronics, and others. Increasing usage of HPPAs in the manufacturing of fuel systems, induction systems, coolant systems, and engine components has made transportation segment the market leader. It fetched USD 912.8 million in 2016. It is expected to grow at a CAGR of 5.68% during the forecasted period. 

Regional Analysis:

Based on the region, the high-performance polyamide market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East Africa.

The Asia Pacific region dominates the high-performance polyamide market with almost 30% of the market share owing to the booming market of automobiles and end-users in China, India, and Japan. Also, the presence of major high-performance polyamide manufacturers triggers the market growth.

North America and Europe are now experiencing a revival of the automobile sector. Hence, these two zones hold the key for further progress of the high performance plastics market during the forecast period.

Healthy growth for high-performance polyamide is estimated for emerging markets, such as Latin America and the Middle East Africa. 

Competition:

Key players in the global market are now adopting various organic as well as inorganic growth strategies such as mergers and acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others. For instance, Arkema SA decided to expand its existing specialty polyamides production units in China and the U.S. in September 2016. Again, Evonik Industries AG announced their plan to build a plant in Germany for production of polyamide 12 powder in February 2016.

The major players of the high-performance polyamide market, as recognized by Market Research Future (MRFR), are Arkema S.A. (France), BASF SE (Germany), Dupont (U.S.), Evonik Industries AG (Germany), DSM (Netherlands), Solvay (Belgium), Toray Industries Inc. (Japan), Laxness (Japan), Radici Group spA (Italy), EMS Chemie holding AG (Switzerland), Ascend (Texas), Investa (Kansas), NILIT (Israel), DOMO (Italy), UBE Industries (Japan), Asahi Kasei (Japan), Kolon Plastic Inc. (South Korea), Shenma Industrial Co. Ltd. (China), and Hyundai EP Co. Ltd. (South Korea).

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