High Performance Polyamides Market - Forecast (2025 - 2031)
The High Performance Polyamides Market size is forecast to reach US$4.3 billion by 2027, after growing at a CAGR of 6.7% within 2022-2027. High performance polyamide (HPPA) is a type of thermoplastic resin that is used for specialized applications that require high temperature tolerances, high chemical resistance, and low shrinkage while also being lightweight. High performance polyamides gain superior characteristics because the residues of terephthalic acid comprise at least 55 molar percent of dicarboxylic acid portion of the repeating structural units in the polymer chain. High performance polyamides are used in a variety of industry verticals such as the automotive industry and the electronic industry. As such, the growing demand for the automotive industry and the electronics sector also proves to be a great driving factor for the growth of the high performance polyamides market.
COVID-19 Impact
During the COVID-19 pandemic, many industries had suffered a tumultuous time and it was no different for the high performance polyamides market. Many governments across the globe implemented lockdown regulations and factories & production facilities in many sectors came to a halt. The supply chain was greatly disrupted as many businesses followed lockdown protocols. High performance polyamides are essential in verticals like the automotive sector and the industrial sector. During the pandemic, the demand for these sectors declined greatly. For instance, according to the Organisation Internationale des Constructeurs d’Automobiles (OICA), the production of passenger vehicles decreased by 16.9% from 2019 to 2020. The first part of 2020 saw new car registrations drop about one-third from the preceding year. As such, the demand for high performance polyamides also saw a decline during the pandemic. However, as the pandemic has largely subsided and governments have uplifted lockdowns, many factories have resumed production which has significantly increased the production capacity and demand for high performance polyamides amongst many industry verticals. Hence, the high performance polyamides market is forecasted to grow significantly within 2022-2027.
Report Coverage
The?“High Performance Polyamides Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the global high performance polyamides industry.
By Type: PA 6, PA 66, PA 11, PA 12, PA 46, and Others.
By Application: Engine Covers/Housings, Cable Insulation & Jacketing, Electrical Encapsulation Materials, 3D Printing, Mobile Phone Housing & Components, Plastics for Sporting Goods, Oil Pans & Cylinder Head Cover Gaskets, and Others.
By End-Use Industry: Automotive (Light Commercial Vehicles, Heavy Commercial Vehicles, and Passenger Vehicles), Electrical & Electronics (Cables, Electrical Connectors & Components, Mobile Phones, and Others), Industrial, Medical, Oil & Gas, and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa).
Key Takeaways
Figure: Asia-Pacific High Performance Polyamides Market?2021-2027?(US$ Million)
High Performance Polyamides Market Analysis – By Type
PA 6 held the largest share with 27% in the high performance polyamides market in 2021. PA 6 is the most popular commercially available polyamide in the market due to its superior toughness, high tensile strength, elasticity, and lustre. PA 6, also commonly known as nylon 6, are wrinkle proof and highly resistant to abrasion and chemicals such as acids and alkalis. Furthermore, they are highly popular for their thermal resistance properties. PA 6 is a semi crystalline polyamide which is formed by ring-opening polymerization of caprolactam, unlike other polymers that are synthesized by step-growth polycondensation or polyaddition reactions using a large number of monomers. New developments are also propelling the growth of PA 6 in the market. For instance, in May 2021, Zhongding Group, a Chinese supplier of plastic automotive parts, announced that they will be using BASF’s Ultramid PA 6 to produce transmission covers as it is more energy efficient and lowers CO2 emission. Due to its superior properties and ease of synthesis, PA 6 will continue to be the most popular type of high performance polyamide in the forecast period.
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High Performance Polyamides Market Analysis – By End-Use Industry
The automotive industry held the largest share with 34% in the high performance polyamides market in 2021. High performance polyamides like PA 6, PA 66, and PA 46, are excellent thermoplastic polyamides that have superior mechanical and chemical resistance as well. As such, they are widely used in engine parts, and underhood plastics and is also used in making automobile intake manifolds. As such, the inclining demand for the automotive industry is also propelling the growth of the high performance polyamides market as well. For instance, according to the Organisation Internationale des Cosntructeurs d’Automobiles (OICA), the total production of vehicles increased to 57.3 million in 2021 which was an 8.9% increase from the production values of 2020. This proves to be a great driver for the high performance polyamides market.
High Performance Polyamides Market Analysis – By Geography
The Asia-Pacific region held the largest share with 43% in the high performance polyamides market in 2021. High performance polyamides are primarily used in the automotive industry and the Asia-Pacific region has seen tremendous growth in their automotive sector, especially in countries like China, India, Japan, and South Korea. Additionally, the Asia-Pacific region also has the largest electronics industry where high performance polyamides are used in connectors in mobile phones, motherboards, circuit breakers and other applications. For instance, according to the Organization Internationale des Constructeurs d’Automobiles (OICA), the Asia-Pacific region had the largest production of motor vehicles in the year 2020, with a total production value of 44.3 million vehicles. China is the leading producer of motor vehicles in the world, with a total production of 25.3 million in 2020, followed by Japan at 8.1 million, South Korea at 3.5 million, and India at 3.4 million vehicles. As such, the Asia-Pacific region will dominate the high performance polyamides market within the forecast period of 2022-2027.
High Performance Polyamides Market Drivers
The growing demand for the electrical & electronics sector:
One of the main applications of high performance polyamides is in the construction and maintenance of electrical & electronics components such as circuit insulation boards, wear strips & chain guards, wire & cable insulation, connectors in mobile phones, electronic test components, and others. As such, the growing demand for the global electrical & electronics sector is propelling the growth of high performance polyamides in the industry. For instance, according to Japan Electronics and Information Technology Industries Association (JEITA), the global Electronics and IT Industry is projected to have reached a record US$ 3,175.6 billion by the end of 2021, which is a 7% increase in year-on-year from 2020. Hence the growing electrical and electronics sector proves to be a great driving factor for the high performance polyamides market.
Advantages associated with high performance polyamides:
High performance polyamides are highly demanded in various end-use verticals such as the automotive sector, the electrical & electronics sector, the industrial sector, the medical & health care sector, and others. This is because high performance polyamides are excellent thermoplastic materials that exhibit high tensile strength, superior flow properties, greater dimensional stability, improved chemical resistance, lower water absorption, and greater versatility in processing than other thermoplastic materials and metals. Due to this, high performance polyamides are preferred over metals and other plastics when it comes to underhood engine parts and engine covers in vehicles, wire and circuit board insulation, electronic housing & components, and others. The excellent qualities of high performance polyamides prove to be an excellent driver for the high performance polyamides market.
High Performance Polyamides Market Challenges
High cost of production & processing:
One major drawback for high performance polyamides is that the manufacturing process of high performance polyamides is expensive when compared to other polymers. This is primarily because high performance polyamides are processed through injection molding and extrusion which require a high degree of technical expertise and high maintenance. In injection molding, molten material is injected into a mold while in extrusion, high pressure is applied to obtain the desired shape through orifices. High performance polyamides require high temperature and pressure during its production and processing, which significantly incurs higher cost of production in comparison to other polymers. As such, this proves to be a challenge for the growth of the high performance polyamides market.
High Performance Polyamides Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the high performance polyamides market. High performance polyamides top 10 companies include:
Recent Developments