The polyamide resin market in the global composites industry is expected to reach $6.4 billion by 2021
According to a new market report published by Lucintel, the future of polyamide resin in the global composites industry looks good with opportunities in the industries of transportation, consumer goods, and electrical/electronics. The polyamide resin market in the global composites industry is expected to reach an estimated $6.4 billion by 2021 and it is forecast to grow at a CAGR of 5.4% from 2016 to 2021.
The major drivers for the growth of this market are growing demand for thermoplastics with high thermal stability in under-hood applications and increasing focus of automotive OEMs to reduce weight without compromising vehicle performance.
Browse 96 figures/charts and 31 tables spread through 127 pages and in-depth TOC on “Polyamide Resin Market in the Global Composites Industry”.
In this market, transportation, consumer goods, and electrical/electronics are the major end use application. On the basis of comprehensive research, Lucintel forecasts that the transportation segment is expected to show above average growth during the forecast period of 2016 to 2021.
Within the polyamide resin in the global composites industry, the transportation segment is expected to remain the largest application by value and volume. Expected increase in global automotive production and increasing demand for high temperature thermoplastics in under-hood applications are the major driving forces that spur growth for this segment over the forecast period.
By product form, short fiber reinforced thermoplastic (SFT) is expected to remain the largest market for polyamide resin consumption due to its demand for small and complex shaped components in the different end use industries.
The Rest of the World (including Asia Pacific) is expected to remain the largest market for polyamide resin consumption for composite applications. The Rest of the World (including Asia Pacific) is likely to witness the highest growth rate during the forecast period due to expected increase in vehicle production and growing consumer goods and electrical/electronics industry in the region.
Download Free PDF Report Brochure at www.lucintel.com/rb/polyamide_resi…_composites.aspx
For business expansion, Lucintel’s report suggests innovation and new product development to achieve higher strength and stiffness, weight reduction, better long term thermal and heat resistance, and improved aesthetics.
Emerging trends which have a direct impact on the dynamics of the industry include the increasing use of post-consumer recycled polyamide resins, increasing use of bio based resins for various applications, and growing inter-material competition. BASF, DuPont, DSM, Solvay, and LANXESS are among the major suppliers of polyamide resin in the global composites industry.
The study includes a forecast for the growth opportunities in the polyamide resin market in the global composites industry by end use application, product form, PA grades, and region, as follows:
By end use application [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
- Consumer Goods
By product form [volume (M lbs) and Value ($ Million) from 2010 to 2021]:
By PA grade [volume (M lbs) in 2015]:
By region [volume (M lbs) and Value ($ Million) from 2010 to 2021]:
- North America
- The Rest of the World (including Asia Pacific)
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