The Global Polyamide Market was valued at USD 25.14 Billion in 2016 and is projected to reach USD 30.76 Billion by 2021, at a CAGR of 4.1% from 2016 to 2021. Increased usage of polyamides in vehicles for weight reduction and growing number of electrical & electronics applications are the factors projected to drive the growth of the market in the near future.
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BASF SE (Germany), Li Peng Enterprise Co. ltd, (Taiwan), Royal DSM (Netherlands), Solvey Ascend Performance Materials LLC (U.S.), Invista Sarl (U.S.), Arkema SA (France), and Evonik Industries AG (Germany) are some of the leading players in this market.
The key players operational in the polyamide market are focusing on new product launches, acquisitions, and expansions to cater the demand across various applications. Solvay SA (Belgium) has reported the highest number of developments in the global polyamide market in recent years.
In October 2016, Solvay SA launched Technyl 4earth, which reduces the environmental footprint of high performance materials. Enhanced consumer awareness and legislation are pushing OEMs and processors to improve sustainability, hence there is a growing demand for solutions with lower environmental footprint.
In October 2016, Royal DSM introduced ForTii Ace, a polyphthalamide (PPA) based on 4T chemistry that has an outstanding set of mechanical, thermal, and chemical properties. With ForTii Ace, DSM will have an important role in helping OEMs and their component and systems suppliers meet the CO2 targets.
In May 2015, Royal DSM and Ascend Performance Materials Inc., a premium provider of high-quality chemicals, fibers, and plastics, formed a global strategic alliance for the supply of compounds based on polyamide 66 (PA66). Ascend became the strategic supplier to DSM for PA66 base-polymer, which is used as a raw material for Akulon PA66 compounds for engineering plastics applications.
In June 2016, BASF launched Ultramid LFX which makes it possible to configure windows more effectively. It has reinforced long glass fibers which enable it to deliver significant benefits over conventional materials such as metals. It also has high outstanding strength and good insulation properties.
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