Transparent Polyamides Market to Grow with a CAGR of 4.95% through 2028
Growing demand of transparent polyamides in electronics
industry is expected to drive the Global Transparent Polyamides Market growth
in the forecast period, 2024-2028.
According to
TechSci Research report, “Transparent Polyamides Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Transparent Polyamides Market stood at USD 1.36 billion in 2022 and
is anticipated to grow with a CAGR of 4.95% in the forecast period, 2023-2028.
The initiatives taken by government based on Transparent Polyamides has led to
favorable market conditions for the Global Transparent Polyamides Market. Several
factors contribute to the growth of various Transparent Polyamides products.
Governments
around the world are actively encouraging and investing in advanced material
science research. As part of these efforts, extensive studies have been
conducted to explore the intricate crystalline structure of transparent
polyamides and effectively control strain-induced crystallization. These
research initiatives hold immense potential in unlocking the development of
highly improved transparent polyamides with enhanced properties. Consequently,
the demand for such advanced materials is expected to soar across various
industries, fueling innovation and progress. In
addition to the focus on advanced material science, there is a growing emphasis
from governments on promoting sustainability and the use of bio-based materials
to mitigate environmental impact. This shift in approach has paved the way for
the development of sustainable transparent polyamides. One noteworthy example
is Evonik's groundbreaking product, TROGAMID myCX eCO. This high-performance
molding compound is not only designed to meet stringent performance
requirements but is also produced partly from renewable raw materials. By
combining cutting-edge technology with eco-friendly solutions, Evonik is leading
the charge towards a more sustainable future.
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"Global Transparent Polyamides Market”
Transparent
polyamides, renowned for their exceptional mechanical strength, outstanding
thermal stability, and superior chemical resistance, are increasingly being
utilized in the fabrication of electronic components. These versatile materials
find applications ranging from robust and lightweight casings for smartphones,
tablets, and laptops to high-performance insulators in intricate circuitry,
thereby becoming ubiquitous in the realm of electronics manufacturing.
The
electronics industry's shift towards these cutting-edge materials can be
attributed to several pivotal factors. Firstly, transparent polyamides offer an
optimal blend of lightweight design and enduring resilience, meeting the
critical demands of modern electronic device production. Secondly, they exhibit
excellent dielectric properties, rendering them ideal for deployment as
electrical insulators.
Global
Transparent Polyamides Market is segmented into type, grade, end user, regional
distribution, and company
Based on its end
user, the automotive segment held the largest share in the market. The
increasing demand for lightweight materials with superior properties, such as
impact resistance, wear resistance, and corrosion resistance, in automobiles
can be attributed to various factors. Not only are lightweight materials
essential for improving fuel efficiency and reducing emissions, but they also
contribute to enhancing vehicle performance and safety. Additionally, the
growing utilization of plastics in consumer goods, including sporting equipment
and children's toys, further drives the global industry growth over the
forecast period. This trend is fueled by the advantages offered by plastics,
such as versatility, durability, and cost-effectiveness, making them an
attractive choice for manufacturers across various sectors. As the market
continues to evolve, the demand for lightweight materials and plastics is
expected to rise steadily, shaping the future of the industry.
Based on region,
Europe segment is expected to grow during the forecast period. The increasing
demand for environment-friendly products in application industries such as
automotive & transportation and construction & housing has been driven
by stringent regulations on VOC emissions imposed by various governments
worldwide. This has led to a surge in research and development activities
focused on the development of sustainable solutions. Notably, in the
global market, North America has emerged as the second-largest market,
accounting for over 25% share in terms of volume. This can be attributed to the
significant contribution from both transparent polyamide volumes and revenue
generated by the automotive industry in the region.
Major companies
operating in Global Transparent Polyamides Market are:
- Honeywell International Inc.
- Du Pont de Nemours, Inc.
- Evonik Industries AG
- BASF SE
- INVISTA S.a.r.l.
- EMS-CHEMIE HOLDING AG
- Arkema Inc.
- DSM Engineering Plastics B.V.
- Koch Industries Inc.
- Shen Ma Industry Co. Ltd.
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“Growing
application of Transparent Polyamides in various end user industries are key
drivers of the Transparent Polyamides Market. Growth in competitive landscape
and presence of well-established companies in the market who are dedicated to
enhance their productivity of Transparent Polyamides with every passing year
are anticipated to register an impressive growth to Global Transparent
Polyamides Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Transparent
Polyamides Market By Type (PA-6, PA-66, PA-12, Biobased Polyamides, Others), By
Grade (Fiber Grade, Injection Molding Grade, Extrusion Grade), By End User (Automotive,
Electrical & Electronics, Consumer Goods, Healthcare, Packaging, Others), By
Region, By Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Transparent Polyamides
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Transparent
Polyamides Market.
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