-- Polyamide Resins Market size is increasing rapidly owing to the growing demand from inks, paints & coating, automotive industry. The product is widely used in electrical & electronics industry for coating purpose owing to superior insulation, strong resistance to chemicals & wear properties. Surge in usage of polyamide resins in automobiles for surface coating and adhesive based application will propel the product market size. Polyamide resins are micro-molecular compound that have hydroxyl groups, active groups, and amide. These group of resins possess exceptional properties such as water resistance, flexibility, wear resistance, better insulation, corrosion resistance and adhesion properties, which makes them favorable for applications in various end-use sector.
Strict environmental regulations on polyamide resins and complex manufacturing process may hinder the product market growth in future. For instance, the product is listed under the various guidelines such as Domestic substances list, Toxic substances control act, Australian inventory of chemical substances, etc. This will limit the production of polyamide resins and profit margin among suppliers and product manufactures.
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Increasing demand for newspapers, magazines, books is positively influencing the ink & printing industry at a significant rate. Additionally, the demand from paper printing segment owing to high clarity to the printing coupled with versatility of flexographic printing in the market is an important factor, which in turn will swell the product market growth by 2025. Significant demand for polyamide resins as a substitute of plastic based packaging in overall packaging industry and this will boost the polyamide resins market size in future. Increased disposable income and trending lifestyle will increase the product demand in fiber and textile industry over the forecasted timeframe.
By type, polyamide resins market is classified into Dimer Acid–Based (DAB) polyamide resins and polyamide-epichlorohydrin resins. DAB polyamide resins are extensively used to synthesize polyamide resins & hot melt adhesives. DAB polyamide resins have diverse properties that makes them either non-reactive or reactive in nature. Non-reactive DAB polyamides are mostly used in the production of hot-melt adhesives and printing inks. However, reactive DAB polyamides are mainly used as curing agents for epoxy resins which are commonly used in the production of surface coatings and adhesives.
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On the basis of form, polyamide resins are categorized in two types i.e., pellets and liquids. The form of polyamide resins is based on the end-use. Mostly, liquid polyamides resins are preferred over pellets form as they are convenient to use and finds wide application in inks, paints & coating and fiber & textile industry.
By end-use sector, the polyamide resins market are categorized into ink & printing, paints & coating, automotive, fiber & textile, electrical & electronics and others, which includes packaging, chemical, etc. Rising demand from ink & printing in addition to paints & coating to avoid chemical and wear resistance on materials based applications will drive the polyamide resins demand in the coming years.
Asia Pacific is anticipated to witness the significant growth in polyamide resins market size owing to the growth in the chemical and automotive industry in the emerging economies such as China, India and Japan. The product demand is expected to rise in emerging economies due to changing lifestyle, increasing disposable incomes and growing use of packed food with rising retail industry in the region. Moreover, North America and Europe is projected to grow at a reasonable growth rate during the forecast timespan.
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Some of the key players in the polyamide resins market share are Toyobo Co., Ltd., Solvay SA, Mitsubishi Chemical holdings, Merck KGaA, The Ensinger Group, RI Chemical Corporation, MPD Industries Pvt. ltd., Gabriel, Arizona Chemical, Anqing Hongyu Chemical Co. Ltd, The Dow Chemical Company, Jinan Tongfa Resin Co., Ltd., Cytech Coatings Private ltd, RITEKS, Thomas Swan & Co. Ltd., Lanxess, Royal DSM, etc.
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Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/polyamide-resins-market
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