United States, Rockville MD, June 06, 2022 (GLOBE NEWSWIRE) -- Detailed analysis by Fact.MR, a market research and competitive intelligence provider, has revealed that the global bio-polyamide market is anticipated to surge ahead at a CAGR of 14.5% from 2022 to 2032.
A significant factor driving the increased use of bio-polyamides is automobile makers' need to improve fuel efficiency and weight reduction in vehicles. Because of the rising production of automotive components around the world, bio-polyamide usage is predicted to rise in parallel over the forecast period.
Developments in energy conservation and the rising demand for eco-friendly solutions are expected to bolster market growth over the coming years. Because of their lightweight qualities and high strength-to-weight ratio, engineering plastics are frequently used in the automotive and electrical sectors.
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Castor oil is the most common raw material utilized to make bio-polyamides. The principal components of castor oil used in the manufacture of bio-polyamides are sebacic acid and undecenoic acid. Because they do not require the use of extra chemicals or pesticides, eco-friendly fibers are widely employed in the textile industry.
The packaging business is seeing tremendous expansion as a result of growing demand across end-user industries, particularly the food and beverage and e-Commerce sectors. Bio-polyamides are commonly used in food packaging systems as they provide strength and durability, as well as exceptional heat and moisture resistance.
Consumption Analysis of Bio-Polyamides from 2017-2021 Vs Market Outlook for 2022-2032
“Rapid Deployment of Bio-sourced Polyamides for High-Performance Applications”
From 2017 to 2021, the global bio-polyamide market registered significant gains, experiencing a CAGR worth 12.1%
Bio-polyamides are novel biopolymers made from sustainable materials such as natural fats and oils. These polymers are known as nylon, and they have a variety of beneficial qualities, including biocompatibility, reusability, and non-abrasiveness. Automotive, consumer products, electronics, fitness equipment, and construction are all businesses that substantially use bio-polyamides.
Polyamide 11 and 12 are members of the polyamide group, including nylon. Bio-polyamide materials can improve applications that have a high potential for wear and tear. Furthermore, bio-polyamides have a better environmental profile because they are made from renewable or bio-based raw materials such as castor oil, resulting in lower greenhouse gas emissions.
The use of bio-polyamides in automotive helps save money on gas and reduce carbon emissions, which is especially driving the trend of polyamides in e-mobility. When bio-polyamide structures are employed in the manufacturing process, fuel savings can be as high as 50%.
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Key Segments Covered in the Bio-Polyamide Industry Survey
- Bio-Polyamide Market by Product Type :
- PA-6
- PA-66
- Specialty Polyamides
- Bio-Polyamide Market by End Use :
- Textiles
- Automotive
- Films & Coatings
- Industrial
- Electrical & Electronics
- Other End Uses
- Bio-Polyamide Market by Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Competitive Landscape
Bio-polyamide manufacturers are concentrating their efforts on expanding their operations in emerging markets. Market participants are focusing their resources and capital on profitable end uses while attempting to grow their customer base.
Companies are also developing plans for product development and portfolio expansion through investments and mergers & acquisitions.
For instance,
- In 2019, Evonik began the construction of a new facility for polyamide 12, along with expanding its production capacity of transparent polyamides.
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Key players in the Digital Transaction Management Market
- Asahi Kasei
- Solvay
- BASF
- SABIC
- DSM
- Lanxess
- Domo Chemicals
- Arkema
- Evonik Industries
Key Takeaways from Bio-Polyamide Market Study
- Global bio-polyamide market to reach valuation of US$ 800.7 million by 2032.
- Market in North America projected to increase at CAGR of 14.7% over forecast period.
- Market in China accounts for 42.3% share of global market.
- Demand for PA-6 expected to rise at CAGR of 14.8% from 2022 to 2032.
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Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals and materials division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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