The global bio-based & synthetic polyamide market is anticipated to grow at a considerable CAGR of 3.8% during the forecast period. Widely used of petrochemical polymers have noticed a negative impact on the environment, the need for bio-based material become widespread due to growing concern about sustainability and issues related to the environment. Moreover, the use of renewable raw materials has substantially reduced the carbon footprint and has a positive impact on the environment. Additionally, the established use of bio-based polyamides is not limited to only textiles, commodities, and automobiles the use of bio-based polyamides is increasingly utilized in the medical industry. Bio-based polyamides are used to manufacture prosthetic body parts, a casing of open MRI machines, and others. The polyamides used in the automotive include, bio-resins, fibres-based solution for the interior part, composite materials, and organic sheets. In addition, the formation of polyamides from renewable resources is one of the major driving factors that hold a potential market share in the coming years. 

The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2021, Lanxess has entered into a strategic partnership with BP, on a project to produce plastics from sustainable raw materials, as a part of the partnership BP supplied sustainably produced cyclohexane to Lanxess’ production site in Antwerp, Belgium. Laxness uses cyclohexane in the production of polyamides 6, a high-performance plastic used primarily used in the automotive, electrical and consumer goods sector. 

Impact of COVID-19 Pandemic on Global Bio-Based & Synthetic Polyamides Market 

The COVID-19 pandemic has a disastrous effect on the production of bio-based & synthetic polyamides, the major lockdown leads to a sudden decline in the production of automobiles, textile products, consumer goods, and electrical and electronics, where bio-based polyamides are majorly used, leading to a drop in the demand of bio-based & synthetic polyamides. Moreover, the automobile industry has been negatively impacted due to the COVID-19 pandemic, impacting the overall bio-based polyamides market. Moreover, the restrictions imposed by the government resulted in postponements in the R&D activities and resulted in the reduction of bio-based & synthetic polyamides.  

However, the industry is predicted to observe steady growth over to forecast period owing to supportive government policies and stimulus measures taken to achieve green gas emissions standards. 

Segmental Outlook 

The global bio-based & synthetic polyamides market is segmented based on type, and end-user. Based on type the market is bifurcated into pa6, pa66, and others (pa10, pa11, pa12). Based on end-user the market is sub-segmented into automotive, packaging, construction, electrical & electronics, textile, others (film & coating, industrial).  Based on type, PA 66 are widely used polyamides and anticipated to lead spurt growth in the coming year, due to their wider use in racing car tires, and airplane tires owing to their excellent strength, adhesion to rubber, and fatigue resistance. Moreover, they are used in the automotive sector, such as gears, and bearings, in electronic and electrical areas, they are used in making plugs, sockets, switches, and connectors. 

Global Bio-Based & Synthetic Polyamide Market Share by Type, 2022 (%)

The PA6 Holds the Major Share in the Global Bio-Based & Synthetic Polyamide Market 

Based on type, PA6 is anticipated to hold the largest revenue over the forecast period. PA6 offers a wider range of applications among the end-user, such as it is used in automobiles. The engine covers of the vehicle are prepared by PA6 as it allows thinner-walled designs, a better surface appearance, and a wider processing window due to better flow and lower injection pressures. Moreover, PA6 has long been deployed in exterior automotive parts, these include door, and tailgate handles, exterior mirrors, front-end grilles, fuel caps, and wheel covers and trim. Moreover, PA6 is holding its market share in packaging products, as PA6 films provide a barrier property that helps in keeping the oxygen out and seal aroma. Further, in the medical field, PA 6 is used for packaging the medical blister packs. The application of PA 6 is anticipated to lead the spurt in the growth of the PA6 segment of the global bio-based polyamide market.

Regional Outlooks

The global bio-based & synthetic polyamides market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). Asia-Pacific is projected to be the fastest growing region during the forecast period. The robust industrialization, surging synthetic polyamides from end-user industries such as automotive and electrical & electronics , and growing electric vehicles demands are the key contributing factors to the market growth. Moreover, regulatory restriction might hinder the polyimide commercialization in Europe. 

Global Bio-Based & Synthetic Polyamides Market Growth, by Region 2022-2028

The North-America Region Holds the Major Share in the Global Bio-Based & Synthetic Polyamides Market 

North America dominated the market by accounting highest share in the bio-based polyamides market in 2021. The region is further projected to maintain its dominance during the forecast period. The US and Canada are the major economies driving the regional market growth. Increasing use of electric vehicles in the region along with supportive government initiativefor EV adoption, and the rising focus towards adoption of polyamide in order to replace metal to minimize the weight of automotive vehicles are the key aspects that have contributed to the growth of the market. 

Moreover, the rising demand for eco-friendly mobility solutions to reduce the pollution level further enhances the market growth in North-America region. In October 2021, according to the US Energy Information Administration, around 90% of the energy consumed in US transportation comes from petroleum. Although many states of the US are working to drive down the emission by encouraging the use of fuels, including natural gas, hydrogen, and bio-fuels. The initiatives and the application of bio-based polyamides in automobile, has fueled the growth of the market in North-America region.  

Market Players Outlook

The major companies serving the global bio-based & synthetic polyamides market are, Asahi Kesai Corp., BASF SE., Huntsman International LLC, LANXESS., Ube Industries., Domo Chemicals, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2022, Domo Chemicals has made its TECHNYL, branded products available to customers across the globe. The introduction of TECHNYL solution, will provide high thermal, chemical resistance materials, and light engineering solution across all industries.. 

The Report Covers

• Market value data analysis of 2022 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global bio-based & synthetic polyamides market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.