San Francisco, California, November 23, 2017 – The global specialty polyamides market is prognosticated in a report by TMR Research to witness the emergence of lower carbon footprint as a key factor driving colossal growth. In comparison, conventional materials such as plastic generate a vast measure of carbon footprint, adding to environmental risks. The report titled “Specialty Polyamides Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025” offers a comprehensive evaluation of important factors affecting market growth, besides a profound study of segmentation and other aspects.
The world specialty polyamides market is foreseen to testify the dominance of the automotive industry in terms of consumption, amid the presence of other end-use industries such as consumer goods and electronics and semiconductors. Nevertheless, there could also be a rise in the demand for specialty polyamides as other industries look to capitalize on their robust growth. However, the automotive industry could take a leading position in the market while riding on the increasing realization of the need for lighter cars and their benefits in curtailing negative impact on the environment.
The environmental footprint of the automotive industry could be drastically improved with the inclusion of lighter materials in car construction. This could also facilitate lower fuel consumption since equal amount of power could be distributed over a smaller mass. Furthermore, lighter cars could allow better handling for drivers since their momentum can be easily controlled as required. A number of government agencies such as the U.S. Environmental Protection Agency (EPA) have publicized their support for the employment of lighter materials in car construction. The EPA understands the potential of lighter materials in reducing the human impact on climate change.
The world specialty polyamides market is predicted to rely on government support in the near future and largely benefit from government initiatives, primarily because of the expensive prices of specialty polyamides compared to traditional automotive construction materials. Furthermore, lack of awareness about specialty polyamides in emerging economies is foretold to be tackled with government support. The flourishing automotive industry in India, Japan, and China could, as a result, provide a boom to the market.
The trend of material substitution and design modification observed in the automotive industry could augur well for market growth. Additionally, the rise in the demand for fuel economy enhancement and emission control could encourage automobile manufacturers to adopt alternative solutions for constructing lighter vehicles, where specialty polyamides could play a major role.
The development of advanced specialty polyamides that offer improved humidity resistance and thermal and mechanical characteristics as a result of constant research and innovation could provide a strong impetus to the international specialty polyamides market. Most specialty polyamides are manufactured with the use of renewable, high-quality, and ecofriendly raw materials that help in lowering the percentage of carbon dioxide and other greenhouse gasses and allow sustainable development. The market could experience a period of sluggish growth in the coming years due to volatile economic conditions in different regions of the world. Nonetheless, specialty polyamides could be adopted at an elevating rate in the wake of the need for environment conservation.
With a view to extend their presence in the worldwide specialty polyamides market, companies are expected to allocate massive funds for the research and development of improved products boasting of increased durability and superior quality. Customized and innovative products that are in accordance with customer requirements could gain more demand in the market. Some of the leading companies operating in the market could be Koninklijke DSM N.V., Radici Group, and Solvay S.A.
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