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.
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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