The high-performance polyamides market is projected to grow considerably during the forecast period
The high-performance polyamides market is expected to grow during the forecast period due to an increase in the consumption of polyamides in the production of pipes, industrial brushes, insulation materials, and other products used in a variety of end-use industries, such as building and construction, automotive, and electrical and electronics.
The market's expansion can be ascribed to a rise in foreign investment in these nations' building sectors as a result of the relaxation of FDI regulations and standards for the renovation of public and industrial infrastructure. Throughout the forecast period, the high-performance polyamides market will grow as a result of rising demand for durable goods and pharmaceuticals and pharmaceutical packaging products.
The rapid growth of the electronics industry
High-performance polyamides find widespread use in the manufacturing and upkeep of electrical and electronic components, including circuit insulating boards, wear strips and chain guards, wire and cable insulation, mobile phone connectors, electronic test components, and more. As such, the industry's expansion of high-performance polyamides is being driven by the rising demand for the global electrical and electronics sector. For example, by the end of 2021, the global electronics and IT industry is expected to have reached a record US$ 3,175.6 billion, a 7% increase year over year from 2020, according to the Japan Electronics and Information Technology Industries Association (JEITA).
Advantages associated with high-performance polyamides
Many end-use verticals, including the automotive, electrical and electronics, industrial, medical and health care, and others, have a high demand for high-performance polyamides. This is because, in comparison to other thermoplastic materials and metals, high-performance polyamides are excellent thermoplastic materials that have higher tensile strength, superior flow properties, greater dimensional stability, improved chemical resistance, lower water absorption, and greater processing versatility. For this reason, high-performance polyamides are chosen over metals and other plastics for a variety of applications, including electronic housing & components, wire and circuit board insulation, and under-hood engine parts and covers in automobiles. The market for high-performance polyamides is well-driven by the superior attributes of these polyamides.
High demand from the automotive industry
The family of synthetic thermoplastic resins known as High-Performance Polyamides (HPPA) includes polyamides. The main industries using HPPAs are automotive, defence, medical, and consumer electronics.
Over the past few years, there has been a significant increase in the use of engineering thermoplastics in automotive components. These include many new applications in areas such as the powertrain, electrical components, chassis, trim components, fuel and coolant lines, thermostat housing, air coolers, coolant pumps, and other vehicle areas. High melting point, flame resistance, dimensional stability, high tensile strength, low moisture absorption, good impact strength, chemical resistance, and many other qualities are among HPPA's many attributes.
Under type segment, PA 6 is expected to grow considerably
The market's most widely used commercial polyamide is PA 6, which is distinguished by its exceptional toughness, high tensile strength, elasticity, and lustre. PA 6, also referred to as nylon 6, is extremely resistant to abrasion and chemicals like acids and alkalis, and it is wrinkle-proof. Moreover, their ability to withstand heat has made them extremely well-liked. In contrast to other polymers that are created by step-growth polycondensation or polyaddition reactions employing a large number of monomers, PA 6 is a semi-crystalline polyamide that is created by ring-opening polymerization of caprolactam. PA 6 is becoming more and more popular in the market thanks to new developments.
Increasing demand in the medical industry
Due to their improved optical clarity, biocompatibility, and affordability, high-performance polyamides are being utilized more and more in the production of medical devices. To obtain desired properties for use in medical devices, a variety of polyamides, including polyamide 11 and polyamide 6T, are blended.
Superior-performance polyamides exhibit strong resistance to chemicals, high sterilization efficacy, and biocompatibility. Nonetheless, a limited range of polyamides meet the criteria for use in this segment as medical-grade polyamides. After researching the effects of these polyamides on internal and external tissues as well as bodily fluids, various regulatory frameworks worldwide determine which plastic grades are suitable for use in the medical and healthcare sectors.
Asia Pacific is projected to grow at a high rate during the forecast period
Due to its highly developed automotive industry and ongoing investments made in the region over the years to advance the industrial and electronics sectors, Asia-Pacific is predicted to dominate the global market. Electronics has recently been using high-performance polymers. Because of these qualities, the electronic industry has been requesting more HPPAs. They are primarily used in laptops, tablets, smartphones, and smartwatches.
The HPPA market is expected to be driven in the upcoming years by lithium-ion batteries, wires, and cables used in electronic vehicles. The Asia-Pacific region's ongoing growth in industrial sectors like energy and oil and gas is another factor contributing to the rise in demand for HPPA across a range of applications.
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