As per the industry statistics and trends, the High Performance Polyamide Market size is projected to grow from USD 2.8 billion in 2021 to USD 4.0 billion by the end of the current forecast period in 2028. The global market is likely to be growing at a CAGR of 7.4%.
The sudden outbreak of the novel coronavirus pandemic had brought along some adversities for the market that are likely to give rise to factors that might hamper the global market growth during the forecast period. The global market trend has witnessed a decline in 2020 due to the sudden outbreak of the COVID-19 pandemic. This deadly virus has adversely affected the entire globe, especially the functionality of regions like the North American and the European regions. To prevent the further spread of this virus, the participating companies have shut down their operations and their manufacturing facilities. This has led to a reduction in the consumption of the market services across various end-users like automotive, electrical electronics, industrial, medical, amongst the other end-use industries.
The global market industry is likely to be growing due to the rise in demand for various applications from various industries, globally. The growing demand for HPPAs showed a decline in 2020 due to the arrival of the COVID-19. However, the gradual end of lockdown and the steady recovery in the end-use industries will help to stimulate the demand during the forecast period. The global market has a fortunate future owing to the enhanced investments along with the development of the research and development departments that promise a brighter future for the market during the ongoing forecast period that will be ending in 2028.
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Regional Classification
The APAC region amongst the rest of the participating regions in the high performance polyamide market accounts for the biggest share of the global market functioning. The automotive, and electrical electronics amongst the other demanding industries are the major consumers of HPPAs in the region. The North American region is likely to emerge as the second major consumer of HPPAs. The sectors like electrical, industrial, and medical are the major industries fueling the growth of the HPPAs market in the North American region.
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Market Segmentation
The high performance polyamide market has been segmented based on the following aspects:
Polyamide Type-based segmentation:
The polyamide segment includes the following:
- PA 11
- PA 12
- PA 46
- PA 9T
- PARA
- PPA
- Others
Manufacturing Process-based segmentation:
This market segment includes the following:
- Injection Molding
- Blow Molding
End-use Industry based segmentation:
This market segment includes the following:
- Automotive
- Electrical and Electronics
- Industrial
- Medical
- Others
Region-based segmentation:
The high performance polyamide market is functional in regions like:
- North America
- Europe
- APAC
- MEA
- South America
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Industry News
In 2019, one of the prominent players of the high performance polyamide market – Royal DSM expanded its Indian business by the acquisition of another company with the name of SRF Ltd. for its specialty materials business. With this expansion, the global market company has strengthened and expanded its geographical presence in the materials market.
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