According to a Zion Market Research research, the global demand for Bio-Polyamide market was valued at around USD 149 Million in 2021 and is predicted to create revenue of about USD 298 Million by the end of 2028, rising at a CAGR of approximately 11.5% between 2022 and 2028.
Overview of the Global Bio-Polyamide Market
Polyamide is the most widely used engineering plastic in the world, with uses including electronics, consumer products, automobile, sports equipment, and construction. Polyamide is synthesised artificially using the polymerization process. It is also known as nylon, which occurs naturally as wool or silk. Polyamide-6 and polyamide-66 are two of the most often utilised synthetic polyamides in the manufacturing of textiles. Polyamides such as polyamide-12 and polyamide-11 are used in engineering polymers. Sebacic and undecanoic acid are two of the most important raw ingredients utilised in the manufacture of bio-based polyamide. They’re made from castor oil.
Growth Factors in the Global Bio-Polyamide Market
Growing demand from the automotive industry is likely to drive expansion in the worldwide bio-polyamide market. The growing usage of bio-polyamides in the automotive industry cuts carbon emissions while also saving fuel. Fuel consumption can be reduced by up to 50% by employing bio-polyamide in manufacturing operations. Stringent government requirements to lower vehicle weight will naturally cut carbon emissions, which may boost the worldwide bio-polyamide market in the future. Furthermore, global growth in the electrical and electronics sectors propels the market. Castor oil, the primary raw material utilised in the production of bio-polyamides, has the potential to boost the global market in the future. In contrast, fluctuating bio-polyamide costs and the availability of huge raw materials are expected to stymie future global market expansion.
Segmentation of the Global Bio-Polyamide Market
Engineering plastics, applications, kinds, materials, and region are used to segment the worldwide bio-polyamide market. Electrical & electronics, wires & cables, automotive, consumer products, film & coating, appliances, industrial machinery, and others are all part of the engineering plastics market. Industrial filament, staple fibres, textile filament, and carpet filament comprise the application segment. Polyamide 10, polyamide 12, polyamide 6, polyamide 11, polyamide 66, and others are included in the type division. Furthermore, the materials category is divided into engineering plastics and fibres.
The global market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The European Bio-Polyamide market is expected to have the highest global share in the future. Because of rising disposable income and changing lifestyles, Asia Pacific has dominated the worldwide bio-polyamide industry. Furthermore, environmental restrictions implemented around the world are expected to drive the global market. In terms of bio-polyamide consumption, Asia Pacific is predicted to maintain its current trend. It is a key production centre for the textile, automotive, and electrical and electronics industries. These sectors’ increasing demand for bio-polyamides also adds to significant market expansion. North America and Europe are trending in the same direction. Environmental laws enacted to limit carbon emissions are expected to drive growth in the worldwide bio-polyamide market.
Some main participants of the Bio-Polyamide market are Quadrant Engineering Plastics Products Inc., Huntsman Corporation, DOMO Group, BASF SE, E. I. Dupont De Nemours & Company, and Lanxess AG. Other players include Honeywell International Inc., Evonik Industries AG, SK Group, Li Peng Enterprise Company Limited, Asahi Kasei Corporation, Arkema, and Radici Group, among others.
Bio-Polyamide Market: Regional Segment Analysis
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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