Scienza e Tecnologia
Sales of Bio-Polyamide in Textile Industry to Increase at 16.7% CAGR by 2032
NEW YORK , June 10, 2022 /PRNewswire/ -- The global bio-polyamide (PA-6) market size is expected to reach US$ 208.3 Mn by the end of 2022. Increasing usage of PA-6 in the automotive industry due to its fracture toughness, compressive strength, and robust mechanical hardness is set to augment the market.
As per the report, demand for bio-polyamide is anticipated to be valued at US$ 800.7 Mn in 2032 and exhibit growth at a CAGR of 14.5% in the forecast period (2022-2032). Increasing concerns regarding sustainability and rising shift of consumers towards eco-friendly materials are likely to drive the growth in the market.
Moreover, rapid expansion of the electrical and electronics industry across the globe is likely to propel the growth in the market. High disposable income of consumers and growing awareness about the usage of bio-polyamides in low voltage applications are projected to aid growth.
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Apart from that, rising government initiatives to encourage companies to use sustainable products are set to push sales of premium-quality bio-polyamide in future years. Ongoing expansion of the textile industry with the rising demand in emerging economies is another crucial factor that is anticipated to augur well for the market.
Besides, growing need for lightweight automotive components is a major factor that is expected to augment the market. In addition to that, increasing demand for electric vehicles globally is anticipated to bolster the need for a robust charging infrastructure, which would aid growth.
Further, rising awareness about energy conservation in developing countries is projected to accelerate growth. Surging acceptance of bio-based fibers of numerous high-performance applications in electronics, marine, and automotive industries is another vital factor that is likely to spur growth.
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Key bio-polyamide manufacturers are increasingly focusing on expanding their distribution networks in emerging economies. Hence, they are investing huge sums in the expansion of their manufacturing capacities.
Meanwhile, a few other key players are aiming to enhance their existing portfolios by introducing cutting-edge products in the market through mergers & acquisitions, as well as partnerships.
For instance,
In the latest study, Fact.MR offers a detailed study on global bio-polyamide market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of bio-polyamide through detailed segmentation as follows:
: Ability of polyamide 11 and 12 to provide rapid prototyping in 3D printing is one of the major factors that would propel the market. Besides, excellent resistance to chemicals and heat is anticipated to push sales of polyamide 11 and 12 in the forthcoming years.
: Urgent need to prevent hospital acquired infections across the globe is projected to drive the demand for antimicrobial polyamide textiles in future. In addition to that, implementation of stringent norms by governments of various countries to reduce the risk of infections is expected to fuel growth.
: As per Fact.MR, the global bio-based acetic acid market is expected to grow 1.6X from 2021 to 2031 at a CAGR of 5%. This growth is attributable to the increasing demand for environmentally friendly construction materials, such as bio-based polymeric binders worldwide.
Growth in the fumaric acid market is attributed to the expansion of food & beverage industry. As per Fact.MR, over 25% of fumaric acid sales are concentrated in food & beverage industry. Use of fumaric acid in food processing and other industries such as pharmaceuticals and rubber will drive the market over the forthcoming decade.
Application of oleochemicals across a range of industries such as cosmetics, food & beverage, and pharmaceuticals is the key factor facilitating the growth in the market. This chemical is extensively used as emulsifiers in food products such as cakes, pastries, and others, boosting the demand in the market.
The demand for ethoxylates as intermediates during the manufacturing of detergents, paints, and cosmetics is surging. Ethoxylates are primarily used in industrial applications attributing its high water solubility and low aquatic toxicity. This is one of the key factor driving the growth in the ethoxylates market.
The report on polyamide in e-mobility market provides detailed information about growth prospects of the polyamide in e-mobility market, which includes detailed information about the micro and macroeconomic factors triggering or hampering demand for polyamide in e-mobility market.
The global polyamines market is fairly consolidated in nature. Kemira Oyj, SNF Floegler and BASF S.E are among the Tier 1 players. Together, they are anticipated to account for more than 85% of the global market share in 2020
Sales of antimicrobial fabric from medical and home applications left with providing exclusive thrust even over the next coming decade. The market is anticipated to showcase its growth at a solid CAGR of 6.5% over the assessment.
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, chemical, and materials, to even the most niche categories. 80% of Fortune 1000's trusts us in critical decision making.
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