The demand for PA-6 in the electrical and electronics sector and the rising popularity of electric vehicles are major growth drivers for the global market.

WILMINGTON, DELAWARE, UNITED STATES, May 23, 2024 /EINPresswire.com/ -- Allied Market Research recently released a report titled "Polyamide Market," offering insights into the industry's trends and forecasts. According to the report, the global polyamide industry was valued at $26.7 billion in 2020 and is projected to reach $40.6 billion by 2028, with a compound annual growth rate (CAGR) of 5.4% from 2021 to 2028.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/11837

𝐊𝐞𝐲 𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:

The demand for PA-6 in the electrical and electronics sector and the rising popularity of electric vehicles are major growth drivers for the global polyamide market. However, fluctuations in crude oil prices pose a challenge to market growth. On the bright side, favorable government policies promoting electric vehicles present new growth opportunities.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

The polyamide fibers & films segment held the largest market share in 2020, driven by its extensive use in carpet manufacturing. Meanwhile, the engineering plastics segment is expected to exhibit the highest CAGR of 5.9% from 2021 to 2028, fueled by the manufacturing of automobile parts such as radiator fans, fuel tanks, and speedometer gears.

𝐄𝐧𝐝-𝐔𝐬𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The automotive segment dominated the market in 2020, accounting for nearly one-third of the global polyamide market. This is attributed to automotive manufacturers' increasing adoption of polyamide to reduce system costs and enhance fuel efficiency. However, the consumer goods segment is projected to witness the highest CAGR of 7.4% from 2021 to 2028, driven by its diverse applications in sports items, batteries, kitchen appliances, and more.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Asia-Pacific, followed by North America, held the highest market share in 2020 and is expected to maintain its dominance by 2028. Asia-Pacific is projected to witness the fastest CAGR of 6.8% during the forecast period, driven by increased polyamide applications in automotive and food packaging industries.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Leading players in the polyamide market include Ascend Performance Materials LLC, Arkema SA, BASF SE, Evonik Industries AG, Gujarat State Fertilizers & Chemicals Limited (GSFC), Koch Industries, Lanxess, Mitsubishi Chemical Holdings, Radici Group, and Royal DSM.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/polyamide-market/purchase-options

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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