The global High Performance Polyamides Market size is anticipated to reach USD 2.8 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.1% from 2020 to 2027. Increasing concerns among consumers and automobile manufacturing companies regarding vehicle efficiency and favorable government regulations regarding the use of polyamides in automotive, electrical and electronics, and consumer goods end-use industries are expected to drive the market over the forecast period.
The
demand for high-performance polyamide is expected to increase majorly in the
electrical and electronics end-use industry segment owing to the increase in
demand for medical electronic devices, home electronics, smart devices, and
electrical components to tackle the COVID-19 pandemic situation. The form
factor of electronic devices and electrical equipment is getting smaller, and
hence requires a high amount of heat dissipation. Additionally, the demand for
smart household applications, which require lightweight and thermally
conductive plastic components, has risen sharply in recent years. This trend is
expected to propel the market growth over the forecast period.
Asia
Pacific market is anticipated to witness substantial growth over the coming
years owing to various factors such as the presence of government initiatives,
such as Make in India, rising number of automotive and medical and healthcare
product manufactures, and rising R&D investments for developing new
applications of high-performance polyamide by private as well as public
organizations. In addition, various medical and healthcare product
manufacturing companies have started looking towards India for establishing a
manufacturing facility post COVID-19 pandemic situation.
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Performance Polyamides Market Report
High
Performance Polyamides Market Report Highlights
- The
electrical and electronics end-use industry segment is expected to
register the highest CAGR of 7.7% over the forecast period in terms of revenue.
The significant CAGR is attributed to the rising demand for high-quality
electronic components and products, consumer goods, and kitchen
appliances
- The
automotive end-use industry segment accounted for over 35.0% share of the
overall revenue in 2019. This high share is attributed to lightweight
metal replacement components to reduce the overall vehicle weight and
increase the efficiency
- Asia Pacific
accounted for over 40.0% share of the overall revenue in 2019. The market
in India is expected to register a revenue-based CAGR of 8.3% over the
forecast period.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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