The global bio-polyamide market was valued at USD 110.5 million in 2016 and is projected to ascend at a CAGR of 12.9% from 2017 to 2025 and is anticipated to be valued at USD 327.3 million
The increasing demand for bio-polyamides from the automotive, electronic & electrical, and textile industries is projected to drive the market in the next few years.
Reduction in the carbon footprint is a major factor that has contributed to the extensive use of eco-friendly products in various sectors. The superior properties of bio-polyamides, such as their high chemical resistance, low moisture absorption, excellent mechanical properties, and high thermal stability, have driven their usage in various applications as compared to their petrochemical-derived alternatives.
Legislation pertaining to the use of renewable products in Europe and North America along with the increasing awareness about the environmental degradation caused by the extraction of petroleum derivatives are expected to propel the bio-polyamide market over the forecast period. Synthetic surfactants are derived from petrochemicals. The stringent regulations enforced due to environmental concerns regarding the toxicity of synthetic surfactants are also likely to drive bio-polyamide market over the forecast period.
Key players in the market include Evonik Industries, Huntsman Corporation, Lanxess AG, Ube Industries, Ltd., and BASF SE
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Bio-Polyamide: Market Variables, Trends, and Scope