Bio-polyamide Market Growth & Trends
The global bio-polyamide market size is expected to reach USD 772.39 million by 2030, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 19.6% from 2023 to 2030. Favorable government regulations regarding the use of bio-polyamides in automotive, textile, and consumer goods industries are expected to drive the global bio-polyamide market over the forecast period.
Although bio-based polymers account for less than 1% of the total global polymer market, there is significant consumer demand, which, along with increased regulations such as global warming measures and plastic bag bans, is generating market opportunity for the bio-polyamide market.
The development of commercial routes to new, bio-based feedstock, has, in turn, accelerated the development of bio-polyamide products. The development of bio-based polymers is accelerating in response to mounting consumer pressure and legislation, but costs of these different processes and the resulting product properties vary, impeding the growth of the sector.
Bio-polyamides are expected to be potential alternatives to synthetic nylon fibers owing to their biodegradable, nontoxic, and environmentally friendly characteristics. Increasing consumer awareness and environmental regulations regarding the use of synthetic polyamides have helped bio-polyamide penetration in the fiber market. Growing electrical & electronics industry is expected to increase the market opportunity for bio-polyamide over the forecast period.
Additionally, the large-scale commercialization of bio-polyamides is expected to create huge demand for the bio-polyamide market in future owing to their ability to be used in a variety of applications. Bio-polyamide is expected to replace traditional polyamides used for film & coating applications. Superior properties and characteristics of bio-polyamides are expected to augment demand over the period.
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Bio-polyamide Market Report Highlights
Europe dominated the overall bio-polyamide market, while North America is expected to expand at CAGR of 19.7% in terms of revenue over the forecast period. The spur of increased demand from automotive and electronics industry has propelled the regional demand for bio-polyamide
PA-66 dominated the product segment of the bio-polyamide market in 2022. Increasing applications in the electrical & electronics, automotive, aerospace and marine segment is expected to foster market demand
Automotive dominated the end-use segment in bio-polyamide market accounting for over 34.0% in terms of revenue. Bio-polyamide is used widely in the automotive sector owing to its high strength, wear resistance, and thermal expansion
In April 2023, Microwave Chemical Co., Ltd. and Asahi Kasei Corporation initiated a collaborative demonstration project for chemical recycling of polyamide 66 using microwave-based technology
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