High Performance Polyamides Market Displays Higher Growth Inclinations during 2020-2030
High Performance Polyamides: Introduction
- High performance polyamide (HPPA) is a type of synthetic thermoplastic resin from the polyamide family. It is a polyamide wherein the residues of terephthalic acid contain at least 55% of the molar percentage of dicarboxylic acid present in structural units in the polymer chain. Polymers are added to the HPPA resin to make it useful for specific applications. The combination of polymers and additives is referred to as a composite. Ingredients added to produce composites include minerals, flame retardants, fiberglass, and other chemicals.
- The aromatic content is supplemented in the form of isophthalic acid or terephthalic acid. The special monomeric structure of amorphous polyamides imparts heat resistance and transparency. Advantages of high performance polyamides include high melting point, reduced absorption of moisture, improved dimensional stability, and better retention of mechanical property at high temperature. Polymers are used in combination with other ingredients to make various products. Combination of polymer and additives is often referred to as plastic. Ingredients that are used to produce composites are fiberglass, mineral, heat stabilizers, and flame retardants.
- High performance polyamides are injection-molded into parts of different shapes that are used in various applications. Nomex and Kevlar are fibers made from aromatic polyamides, which offer high tensile strength and excellent resistance to high temperatures. Akin to any other thermoplastic, high performance polyamides can be fully recycled by re-melting.
- High performance polyamides offer characteristics such as high thermal stability, greater chemical resistance, high dielectric strength, low shrinkage, and greater design flexibility. As a result, they are used in a wide range of end-use industries.
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Key Drivers and Restraints of Global High Performance Polyamides Market
- Rapid advancements in thermoplastic polymers and high adoption of high performance polyamides by automotive manufacturers, owing to properties such as excellent strength and toughness when exposed to hot, aggressive fluids, and hot air, are major factors expected to drive the global high performance polyamides market in the near future. Increase in sale of automotive across the globe is another factor anticipated to boost the market.
- Growth in the electronics sector in developed and developing countries, rise in demand for advanced electronic devices, and manufacturers’ approach toward integration of high performance polyamides in various components are other factors estimated to boost the global market during the forecast period.
- High cost of high performance polyamides is a major factor estimated to hamper the market in the near future. Availability of various alternatives is another factor projected to adversely affect the global high performance polyamides market.
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High Performance Polyamides: End-use Segment
- Based on end-use, the global high performance polyamides market can be segmented into automotive, pharmaceuticals, electrical & electronics, industrial, and others (textile, oil & gas, etc.)
- High performance polyamides can withstand extreme conditions such as long term exposure to heat, chemicals, and moisture. Improvement in economic conditions and weight reduction in automotive sector have played key roles in the growth of the market. Thus, the automotive segment is estimated to account for significant share of the market during the forecast period.
Covid-19 Impact on High Performance Polyamides Market
- Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe. The World Health Organization has declared it a public health emergency. The global impact of the coronavirus disease (COVID-19) is expected to significantly affect the high performance polyamides market in the near future.
- The COVID-19 pandemic has had a swift and severe negative impact on the globally integrated industries such as automotive by hampering the supply chain. It is also expected to adversely affect manufacture, distribution, and supply of high performance polyamides in the near future.
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North America to be Key Region of Global High Performance Polyamides Market
- In terms of region, the global high performance polyamides market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is expected to dominate in the global high performance polyamides market during the forecast period. This can be ascribed to high demand for these polyamides among medical manufacturers and rise in new products offered by major players operating in the countries in the region. Strategic expansion activities by major players through mergers and acquisitions is another factor expected to propel the market in North America.