21 May 2019, Global thermoplastic polyamide market is expected to grow at a significant CAGR in the
upcoming period as the scope and its applications are rising enormously across
the globe. Thermoplastic polyamide is high-performance thermoplastic elastomer
(TPE) block copolymers based on polyesters or polyethers and nylon.
Thermoplastic polyamide has a good chemical and thermal resistance and has a
very high toughness. It is exclusively used in carpets, bushings, bearings,
electrical plugs and sockets, food packaging film, gears, and fibers for
textile.
The factors that are playing a major role in the growth
of the market are the growing demand from the end-users like electronics
industry and sports goods. However, the presence of substitutes may restrain
overall market growth in the years to come. Thermoplastic polyamide market is
segmented based on type, application, and region.
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PA 12, PA 11, PA 6, and other types could be explored in
thermoplastic polyamide market in the forecast period. The market could be
categorized based on applications like medical industry, automotive parts,
sporting goods, and others could be explored in thermoplastic polyamide in the
forecast period. The automotive sector comprises seals, control elements, air
duct components, airbags, spoilers, anti-slip mats and others.
Based on the distribution channel, direct marketing and indirect
marketing could classify thermoplastic polyamide in the forecast period. Direct
marketing sector accounted for the substantial market share of thermoplastic
polyamide and is estimated to continue its dominance in the years to come.
Globally, Europe accounted for the substantial share of thermoplastic polyamide
industry and is estimated to lead the overall market in years to come. The
reason behind the overall market growth could be the presence of key
manufacturers in the region, the growing demand from the end-users, and the
presence of key exporters of the product. The United State is a major consumer
of thermoplastic polyamide in this region.
North America and the Asia Pacific are also estimated to
have a positive influence on future growth. North America is the second largest
region with significant market share. However, Asia Pacific is estimated to
grow at the highest CAGR in the forecast period. The developing countries like
India and China are the major consumers of thermoplastic polyamide in this
region. The key players of the thermoplastic polyamide market are Mingju
Plastics, Arkema, Ube, Evonik, and EMS-PATVAG. These players are concentrating
on inorganic growth to sustain themselves amidst fierce competition.
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