Market Overview
The Long-chain Polyamide Market is expected to reach a value of USD 3.1 Billion, registering a CAGR of 5.38% during the forecast period. Long-chain polyamides are one of the most important polymers for bridging the gap between regular polyamides and polyethylene. The distinct compositions and qualities bridge the gap between traditional polyethylenes; they are largely used in the production of monofilaments, which are then used in a variety of applications. Chemical resistance, dimensional stability, and the capacity to tolerate higher temperatures are among the major features that make them suitable for use in the manufacturing of hood components in industries and automobiles. Fuel lines, coolant hoses, clutch fluid ducts, and other important hood components are among them. The automobile sector is also a significant consumer of long-chain polyamides for the manufacture of critical vehicle components. The growing consumer base for passenger cars, as well as demand for lightweight cars and vehicles, are providing profitable chances for the long-chain polyamide industry’s overall expansion.
Due to the industry’s disrupted demand and supply ratio, the widespread COVID-19 has had a detrimental impact on the long-chain polyamide market’s growth. Throughout the epidemic, logistics difficulties and shipment networks all across the world were in serious distress. Furthermore, major raw material suppliers such as Evonik Industries, Solvay, Ashland, and others were temporarily shut down as a result of government rules enforced as a result of the pandemic. The scarcity of needed raw materials for the long-chain polyamide industries has had a substantial influence on the industry’s overall growth.
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Market Segmentation
Based on the Type, the market is segmented into PA11, PA12, PA610, PA612, and Others.
Based on the End-use Industry, the market is segmented into Automotive (Brake Tubes, Fuel Liners, Cluster Tubes, Electrical Systems, and Others), Electrical & Electronics (Plug-in Connectors, Switchboards & Housing, Connection Box, Cable Ducts, and Others), Industrial applications (Rollers, Pulleys, Conveyor Systems, Hoses & Tubes, Hoses & Tubes Connectors, Filaments, and Others).
Based on the Region, the market is segmented into North America, South America, Europe, Asia-Pacific, the Middle-East, and Africa.
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Regional Classification
The growing number of manufacturing centers for automotive and industrial components has a big impact on the long-chain polyamide industry. Due to a growth in end-user industries, Asia-Pacific had a greater market share during the historic forecast period and continued to grow during the forecast period. Long-chain polyamide market expansion will be aided by the growing consumer base for consumer electronics and personal electronic devices across the area.
Furthermore, favorable economic conditions in countries such as India and China, combined with an increasing number of end-user applications such as automotive, electrical and electronics, industrial operations, and significant other applications, are propelling the long-chain polyamide industry’s overall growth across the Asia-Pacific region.
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Industry News
The major key players in the market are DuPont (US), Evonik Industries AG (Germany), BASF SE (Germany), Arkema (France), DSM (The Netherlands), EMS-Chemie Holding AG (Switzerland), Nylon Corporation of America, Inc. (NYCOA) (US) and Radici Group Spa (Italy). The potential end-user sectors, such as automotive, especially commercial vehicles, have a significant impact on the growth of the long-chain polyamide market. On the other hand, the growing investment in the long-chain polyamide sector as a result of its advantageous characteristics is accelerating the industry’s overall expansion.
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