Global specialty polyamides market is anticipated to amass US $3.60 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
Specialty polyamides are among the emerging product categories in the mature polyamide market. Growing demand from end-use industries has led to increased production of specialty polyamides, which is expected to augment further over the coming years.
Several polyamide-based specialty polyamide resins are also anticipated to become a key part of various technological solutions. Moreover, features like high impact abrasion, resistance to wear and tear, and superior material characteristics make specialty polyamides ideal for manufacturing of construction materials.
Reportedly, industry partakers are focusing more on manufacturing new assortments mainly for the smaller enterprises that demand highly specialized products. The manufacturing and addition of specialty polyamides for specific industrial applications have proven to be insufficient in bringing growth in the market. This could be attributed to the fact that high-quality products require broad extensive technical support from manufacturers to customers.
According to the study, engineering plastics has emerged as one of the leading application segments in specialty polyamides market. Currently, PA6 and PA66 are the most demanded polyamide resins in the market. Major PA6 manufacturers include Lanxess AG, DSM Engineering Plastics BV, and BASF SE. While PA66 is manufactured by Solvay, BASF SE, and DuPont.
The automotive industry has been a major consumer of polymer resins, with product demand increasing significantly each year. Electronics/electrical sectors are also anticipated to witness rapid growth in the coming years, cites the study.
In terms of regional share, Asia Pacific has the highest number of polyamide producers, with maximum based in China. In fact, in the past 25 years, the number of manufacturers has grown exponentially owing to rapid growth in the country's manufacturing industry, which is a leading consumer of this product. Europe specialty polyamides market is anticipated to be a potential industry space for business expansion, cites the report.
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The leading industry participants in specialty polyamides market include Ascend Performance Materials LLC, Asahi Kasei Corp., DuPont, Arkema S.A., BASF SE, Honeywell International Inc., Formosa Chemicals & Fibre (FCFC), Grupa Azoty SA, Invista, Huntsman Corp., Koch Industries Inc., LANXESS AG, Li Heng Chemical Fibre Technologies Ltd, Lealea Group, Nylstar SA, Li Peng Enterprise Co. Ltd., Rhodia SA, Radici Group, Royal DSM NV, Solvay SA, Shenma Industrial Co. Ltd, and Ube Industries Ltd.
The company profiles of these firms are mentioned in the report alongside their product benchmarking, business overview, financials, and recent developments. The report also provides an extensive quantitative and qualitative analysis of potential growth prospects and future trends in specialty polyamides market between 2018-2026.