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Bio-based & Synthetic Polyamide Market Size

Report ID: GMI2939
Published Date: Dec 2021
Report Format: PDF

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Bio-based & Synthetic Polyamide Market Size

Global Bio-based & Synthetic Polyamide Market size was registered at about USD 30 billion in 2020 and is expected to showcase considerable growth at a CAGR of 5.3% from 2021 to 2027. The increasing product applications in the packaging industry and the growing demand for polyamides in various end-user industries, such as electrical & electronics, automotive, construction, and textiles, is augmenting the business growth.

Polyamide has been actively looked at as a replacement for metals to minimize the weight of automotive, consumer goods, and various electronic products. Bio-based & synthetic polyamides primarily exhibit a good coefficient of friction, high wear resistance, increased temperature resistance, and impact properties.

Bio-based & Synthetic Polyamide Market Outlook

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The packaging industry is witnessing significant growth due to growth in various end-user industries, particularly increased demand for packaging in the food & beverage and e-commerce industries. In the food packaging system, bio-based & synthetic polyamides are often utilized as they provide strength & toughness and possess excellent heat resistance properties along with moisture resistance.

According to the World Packaging Organization, global packaging industry turnovers was over USD 900 billion in 2019 and is expected to witness moderate growth over the next few years. Increased product application as a packaging material is expected to drive the bio-based & synthetic polyamide market share from 2021 to 2027.

Bio-based & Synthetic Polyamide Market Report Attributes
Report Attribute	Details
Base Year:	2020
Bio-based & Synthetic Polyamide Market Size in 2020:	30.3 Billion (USD)
Forecast Period:	2021 to 2027
Forecast Period 2021 to 2027 CAGR:	5.3%
2027 Value Projection:	43.3 Billion (USD)
Historical Data for:	2017 to 2020
No. of Pages:	160
Tables, Charts & Figures:	171
Segments covered:	Type, End-User and Region
Growth Drivers:	Growing demand for polyamide in automotive industry Increasing product penetration in electrical & electronics industry Growing demand for sustainable packaging solutions
Pitfalls & Challenges:	Easy availability of substitute products

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Easy availability of substitutes and stringent government regulations are factors that are likely to hamper the bio-based & synthetic polyamide market growth during the forecast period. Moreover, the recent COVID-19 pandemic has negatively impacted the industry size due to the economic slowdown experienced by various countries

Various end-user industries were severely impacted due to stringent lockdowns imposed by various governments around the world. However, as the restriction on various end-user industries is on the retreat, product demand is also expected to come back to normal. Moreover, increasing applications of bio-based & synthetic polyamides in the automotive industry along with the electrical & electronics industry are expected to positively impact the market.

Authors: Kiran Pulidindi, Hiralkumar Patel

Frequently Asked Questions (FAQ) :

Bio-based & synthetic polyamide industry share is slated to exceed $43 billion by 2027 and is anticipated to exhibit a CAGR of 5.3% between 2021 and 2027 owing to rising product application in the packaging sector.

The market revenue from PA6 products was more than USD 13 billion in 2020 and will exceed USD 19 billion by 2027 owing to numerous properties such as compressive strength, mechanical strength, and high tensile properties that enhance product usage across the automobile industry.

The market share from automotive is expected to grow at a CAGR of 5.6% up to 2027 considering the surging requirement for lightweight automotive and decreased fuel consumption.

Asia Pacific bio-based & synthetic polyamide industry value will surpass USD 24 billion through 2027 with the soaring demand from numerous end-user industries, cost-effective manufacturing, and robust industrialization.