Scienza e Tecnologia
Polyamide Market Size Worth $53.32 Billion By 2028 | CAGR: 6.2%: Grand View Research, Inc.
Polyamide composites are expected to witness high demand from the automotive industry due to factors such as excellent mechanical properties, wear resistance, and the growing need for lightweight vehicles in order to improve fuel efficiency. Polyamide has been extensively used in the engine compartment to replace steel parts owing to the benefits derived from them such as lower weight and greater design flexibility as against traditional metals.
Key players in the market are continuously carrying out innovations and developing new versions of polyamide compatible with new polymer processing technologies. For instance, in May 2021 , Evonik Industries AG successfully tested its INFINAM PA 6005 P (polyamide 613 material) on the ST252P and HT403P laser sintering 3D printing systems developed by Farsoon Technologies. The INFINAM PA 6005 P with a high melting point of 215°Cexhibited compatible properties to be processed by 3D printing systems.
In addition, the establishment of global partnerships to increase dominance in advanced materials is expected to drive the market over the forecast period. In May 2020 , LANXESS announced the formation of a new supplier partnership with Chase Plastics. This partnership is expected to create a distribution channel for Durethan PA6 and Pocan PBT developed by LANXESS.
Environmental awareness has propelled many electronics companies to utilize bio-based polyamides as a part of their sustainability goals and they have deployed the production of the same to support the strong growth in demand for advanced bio-circular materials. This can prove to be one of the major driving factors for the production of polyamides over the forecast period. In April 2021 , Arkema announced to begin the production of Amino 11, a bio-based polyamide, at its new plant on Jurong Island, Singapore . This plant is expected to utilize castor beans to produce bio-based polyamide and it represents a 50% increase in Arkema's global polyamide 11 capacity.
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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