According to Custom Market Insights (CMI), The Global Thermosetting Polyamide Market size was estimated at USD 25.89 Billion in 2021 and is expected to hit around USD 54.95 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030.
Thermosetting polyamide is an amorphous engineering plastic. It is also called thermosetting and thermoplastic. It possesses exceptional physical and chemical resistance properties.
It is widely used in water pipelines, automotive parts, medical equipment, construction machinery, signage, storage boxes, electrical plugs and casings, kitchen appliances, and toys.
The global thermosetting polyamide market is evolving, and companies are now focusing more on strengthening and consolidating R&D activities; thereby increasing the production capacity of thermosetting polyamide thus, driving the market growth by catering to the need for thermosetting polyamide in above mentioned end-use industries.
Browse the full “Thermosetting Polyamide Market Size, Trends and Insights By Technology (Extrusion Molding, Hot Compression Molding, Direct Forming, Isotactic Pressing, Other), By Application (Aerospace, Automotive, Electronics Appliances, Construction, Adhesives, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/thermosetting-polyamide-market/
Robust demand from the automotive industry
The demand for thermosetting polyamides is multiplying in the automotive industry due to their high strength, flexibility, and thermal conductivity attributes. Furthermore, thermosetting polyamide is widely preferred in manufacturing various auto components. This is projected to propel the growth of the thermosetting polyamide market in the automotive industry.
High price and entry of competitors
However, the production process for thermosetting polyamide is highly capital-intensive. In addition, fluctuation in raw materials prices and sometimes unavailability of raw materials is expected to hamper the market. In response to this, thermosetting polyamide becomes a waste landfill as TP material that cannot be recycled. Such factors hinder the growth of the thermosetting polyamide market.
Robust demand from the industrial sector
Factors such as the rise in population across the globe and well established industrial sector in both developed and developing economies have enhanced the performance of thermosetting polyamides in the industrial sector, wherein it is used in the gaskets, pipes, inserts, insulation coatings, seals, and other manufacturing equipment. This factor is expected to increase the potential sales of thermosetting polyamide, thus, offering the most remunerative opportunities for the future.
Higher-cost manufacturing process
Over the forecast period, thermosetting polyamide leads to complexity in manufacturing requirement of huge capital expenditure, and expertise is expected to dampen the market. Furthermore, replacing the TP’s with other PVC-based TPs is expected to hinder the market. In addition, government norms and regulations on some TPs are expected to challenge the call.
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Based on technology type, they segmented into extrusion molding, hot compression molding, direct forming, isotactic pressing, and others.
The extrusion molding-based technology type segment dominated the market in 2021 and held 36.56% of the total market share over the forecast period. Extrusion molding-based technology is widely used in the automotive industry, where it is used to manufacture different shapes of various auto components. Polyamide is an excellent source of thermal insulation, resistance to chemicals, and temperature. It possesses high strength & flexibility, due to which it is the most preferred TP’s in various industries, including aerospace, adhesive & sealants, fabric, and the automotive sector has enhanced the growth of polyurethane-based thermosetting polyamide during the forecast period.
- Mitsui Chemicals
- Saint Gobain
- Toray International
- Shinmax Technology
- 3E Etese
- Arakawa Chemica
- Kaneka High Tech Materials
- Nitto Denko
- Sumitomo Bakelite Co. Ltd.
- U-PICA Company Ltd.
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