What are the drivers of Biobased & Synthetic Polyamides Market growth?
Category: #headlines  By Partha Ray  Date: 2019-07-30
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What are the drivers of Biobased & Synthetic Polyamides Market growth?

The robust proliferation of 3D printing technology across almost every sector, has ushered the global biobased and synthetic polyamides market into an era defined by pathbreaking technological trends. Polyamides, with their flexible, durable, and strong material characteristics have been one of the most reliable raw materials for the industrial applications of 3D printing. 

Given the tremendous demand for the material, several prominent players operating in the overall biobased and synthetic polyamides market have been going the whole hog to bring forth economical, versatile, efficient, and energy saving materials.

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With such increasing participation of industry contenders in deriving suitable materials for specific applications, the advent of 3D printing technology has certainly emerged as a lucrative growth avenue for the global biobased and synthetic polyamides industry expansion. It is also prudent to mention that polyamide 6 and polyamide 66 together accounted for more than 80% of this market’s product landscape in 2017. Despite the sheer dominance, industry analysts anticipate that biobased polyamide 11, will be the one witnessing rapid growth in the ensuing years.

The growing consumer awareness and interest in bio-based plastics has brought a tremendous surge in the biobased polyamides demand in the recent years. In fact, an increasing number of participants, especially in the industrial space including automotive & transportation, medical devices, construction, and consumer electronics, have been substituting the conventional fossil fuel based material with bio-based alternatives offering hands on sustainable & biodegradable trends. Derived from castor oil derivatives, reports claim the polyamide 10 and polyamide 11 to have been the most significant biobased variants forecast to register a 10% CAGR over 2018-2025.

The increasing customer interest in bio-based plastics has further led the industry players to develop several grades of polyamide from biodegradable feedstocks. The companies operating in this business sphere have been long investing into R&D and product innovation activities to come up with reliable products that could strengthen their stance in the global biobased & synthetic polyamides industry. Enumerated below are some of the prominent examples, where the world leading giants are seen tapping biobased polyamides.

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BASF, the German chemical giant in 2007 introduced a castor-oil based polyamide, Ultramid Balance, comprising over 60% sebacic acid and offering better perforce than its synthetic counterparts.

DuPont is also among the leading industry players that introduced its Zytel long-chain polyamides PA10 and PA610 in 2007. Both the products are based on sebacic acid, where PA610 has over 60% renewable content and PA10 has 100%.

Renowned biobased & synthetic polyamides industry major Evonik Industries introduced bio-based VESTAMID® Terra DS – a polyamide 1010 which is obtained completely from the monomers of castor oil. This is expected to used extensively as special cables in the automotive industry – where the bio-based product trend has already hit several manufactures.

As the industry participants are vigorously focusing on developing engineering bio-polymers from castor-oil, the green chemicals trend is certain to carve lucrative growth for the overall biobased & synthetic polyamides market in the ensuing years. Castor-oil, for the record, is obtained from the bean of the castor plant – which is neither used for food nor in animal feed – as a result of which it doesn’t compete with global food crops. This has further propelled the demand for manufacturing bio-based polyamines.

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Further gaining precedence over the traditionally derived polyamides from crude oil, it would be wrong to say that biobased PA has indeed traversed a remarkable growth graph in the recent years, in turn driving the global biobased & synthetic polyamides industry share. The exponential growth is apparently vivid from a report compiled by Global Market Insights, Inc., that claims the overall biobased & synthetic polyamides market valuation to hit USD 42 billion by the end of the year 2025


 

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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