Polyamide Resins Market Size to grow by USD 3232.79 million between 2024-2028
According to a research report “ Polyamide Resins Market” by Type (Reactive polyamide resins, Non-reactive polyamide resins) Product (Pellets, Liquids) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 3232.79 million, at a CAGR of 5.93% during the forecast period. In the global automotive sector, the surge in sales of passenger automobiles and light trucks, including pickups, vans, and SUVs, is fueling market growth for polyamide resins. Major automobile-producing nations, such as China, the US, Japan, Germany, and India, are key contributors to this trend. To meet stringent emission control regulations and enhance fuel efficiency, automakers are prioritizing weight reduction in their vehicle offerings, thereby increasing the demand for lightweight polyamide resins..
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By Type, the Reactive polyamide resins segment is projected to dominate the market size in 2024
The polyamide resins market is experiencing significant growth, particularly in the segment of reactive polyamide resins. These semi-solid, viscous fluids are synthesized from dimer fatty acids and serve as essential curing agents for epoxy resins. Their superior bending properties, excellent curing and adhesion qualities, and high resistance to impact make them indispensable in surface coatings, adhesives, and construction materials. Key applications include epoxy primers, anticorrosion coatings, coated mortars, antisepsis coatings, epoxy glues, and anti-rust paints. The construction industry's increasing demand for these resins is driving the market's growth rate during the forecast period.
By Product, Pellets segment is expected to hold the largest market size for the year 2024
In the injection molding sector, polyamide resins, specifically in pellet form, are indispensable. These pellets offer desirable attributes for producing complex and robust components in industries such as automotive, electrical, and industrial. With superior melt flow and mechanical strength, they are ideal for intricate parts. Extruded polyamide forms, like rods, tubes, and profiles, are utilized in automotive fuel lines, air brake hoses, and wire insulation. Furthermore, polyamide pellets can be processed into films and sheets, which are essential in packaging materials, protective films, and laminates due to their exceptional barrier properties, clarity, and durability.
APAC is forecasted to hold the largest market size by region in 2024
The APAC region's industrial expansion, particularly in China and India, fuels the growth of the polyamide resins market. This market experiences robust demand due to the widespread use of polyamide resins in sectors like automotive and electronics. In automotive manufacturing, these resins' lightweight, durable, and heat-resistant properties are valued. The APAC region's dominance in electronic product production further boosts market growth, with polyamide resins utilized in connectors, cable insulation, and electronic housings.
The Polyamide Resins Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Polyamide Resins market encompasses a wide range of products utilized in various industries, including textiles, vehicle components, and packed food. These resins are available in both liquid form and pellets, offering distinct advantages such as excellent adhesion properties, insulation properties, corrosion resistance, wear resistance, and water resistance. The flexibility of Polyamide Resins is further enhanced through the addition of plasticizers, while their curing properties ensure efficient manufacturing processes. Polyamide Resins are produced through the reaction of Polyamine and Vegetable oil or other raw materials in Chemical plants. Both Recycled Polyamide Resins and Conventional Resins play significant roles in the market, with the former gaining increasing attention due to environmental concerns and resource conservation. The crystalline structure of Polyamide Resins contributes to their superior strength and durability, making them a preferred choice for numerous applications.
Market Research Overview
The Polyamide Resins market has experienced significant growth due to urbanization and rapid industrialization in various sectors. Key industries such as textiles, vehicle components, and the packaging sector have shown a high demand for these resins. However, the increasing carbon footprint of these industries has led to stricter environmental regulations. Polyamide Resins, available in liquid form or pellets, offer desirable properties such as ester resistance, water resistance, anti-blocking, gel recovery, clarity in printing, and adhesion. These resins are extensively used in the paper print sector, including books, newspapers, and magazines, as well as in the e-books and flexographic printing market. The automobile production industry also relies on polyamide resins for weight reduction in vehicle components and in the electronic connectors industry for lead-free soldering. Polyamide Epichlorohydrin resins, with their functional groups, insulation properties, corrosion resistance, wear resistance, and water resistance, are also gaining popularity. The flexibility and plasticizer properties of these resins make them suitable for various applications, including in chemical plants and the fiber industry. Recycled polyamide resins and conventional resins are also being used to reduce the environmental impact.
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