Market size, share and growth analysis across all major regions and key countries, with forecasts for 2022–2030. The competitive landscape profiles 15 companies, including DuPont, Mitsui Chemicals and SABIC.
The global thermosetting polyamide market was valued at USD 29.11 Bn in 2022 and is projected to reach USD 54.95 Bn by 2030, growing at a CAGR of 5.8%. Europe is the largest regional market and Asia-Pacific is growing fastest.
Reports Description
According to Custom Market Insights (CMI), The Global Thermosetting Polyamide Market size was estimated at USD 25.89 Billion in 2021 and is expected to reach USD 29.11 billion in 2022 and is expected to hit around USD 54.95 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030.
Thermosetting polyamide is an amorphous engineering plastic. It is also called thermosetting and thermoplastic. It possesses exceptional physical and chemical resistance properties. It is widely used in water pipelines, automotive parts, medical equipment, construction machinery, signage, storage boxes, electrical plugs and casings, kitchen appliances, and toys.
The global thermosetting polyamide market is evolving, and companies are now focusing more on strengthening and consolidating R&D activities; thereby increasing the production capacity of thermosetting polyamide thus, driving the market growth by catering to the need for thermosetting polyamide in above mentioned end-use industries.
The growing use of thermosetting polyamide in the automobile and aerospace sectors will aid market growth.
The massive use of thermosetting polyamide in various end-use industries due to its favorable features is anticipated to drive demand for it during the forecast period.
The demand for thermosetting polyamides is multiplying in the automotive industry due to their high strength, flexibility, and thermal conductivity attributes. Furthermore, thermosetting polyamide is widely preferred in manufacturing various auto components. This is projected to propel the growth of the thermosetting polyamide market in the automotive industry.
Furthermore, the medical devices manufacturing industry is multiplying owing to the rise in diseases, advancement in technology, and government support for the medical industry have spurred the thermosetting polyamide market. Thermosetting polyamide is extensively used in the manufacturing process of medical devices. It is used primarily where stiffness, high strength, and structural integrity requires. This factor is positively driving the market during the forecast period.
Moreover, factors such as the rise in population across the globe and well established industrial sector in both developed and developing economies have enhanced the performance of thermosetting polyamides in the industrial sector, wherein it is used in the gaskets, pipes, inserts, insulation coatings, seals, and other manufacturing equipment. Therefore, this factor is expected to increase the potential sales of thermosetting polyamide, thus, offering the most remunerative opportunities for the future.
Thermosetting polyamide market Segmentation.
Thermosetting polyamide market, segmented by Technology
Depending upon the technology, the thermosetting polyamide market is segmented into extrusion molding, hot compression molding, direct forming, and isotactic pressing.
The extrusion molding-based technology type segment dominated the market in 2021 and held 36.56% of the total market share over the forecast period. Extrusion molding-based technology is widely used in the automotive industry, where it is used to manufacture different shapes of various auto components. Polyamide is an excellent source of thermal insulation, resistance to chemicals, and temperature. It possesses high strength & flexibility, due to which it is the most preferred TP’s in various industries, including aerospace, adhesive & sealants, fabric, and the automotive sector has enhanced the growth of polyurethane-based thermosetting polyamide during the forecast period.
Thermosetting polyamide market, a segment based on the Application
The global thermosetting polyamide market is studied across aerospace, automotive, electronics, construction, adhesives, and others. It is expected that the international automotive industry segment to hold a dominant position during 2022 -2031 and account for 43.67% of the total market share.
Thermosetting polyamides are used mainly uses extrusion-molding technology for the production of different shapes of auto-components. In addition, it is resistant to chemicals, temperature, and high flexibility used to monitor air inlets and exhaust for improved engine operation. For instance, according to a report published by for India Brand Equity Foundation in July 2022, India’s annual production of automobiles in FY22 was 22.93 million. These factors are expected to enhance the demand for the thermosetting polyamide market.
Furthermore, the building and construction sector is expected to grow over the forecast period. This is attributed to the growing young population, rise in demand for building, and advancement in infrastructure development have driven the demand for TP, which is used for thermal and acoustic insulation purposes.
Other segments, such as the electric, industrial, adhesives, and consumer goods sector, show positive growth during the forecast period due to growing demand for Thermosetting polyamide.
Report Scope
Feature of the Report
Details
Market Size in 2021
USD 25.89 Billion
Projected Market Size in 2030
USD 54.95 Billion
Market Size in 2022
USD 29.11 Billion
CAGR Growth Rate
5.8% CAGR
Base Year
2023
Forecast Period
2024-2033
Prominent Players
DuPont, Mitsui Chemicals, SABIC, Saint Gobain, General, Toray International, Taimide, Shinmax Technology, Stratasys, 3E Etese, Arakawa Chemica, Kaneka High Tech Materials, Nitto Denko, Sumitomo Bakelite Co. Ltd., U-PICA Company Ltd., and Others
Key Segment
By Technology, Application, and Region
Report Coverage
Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options
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Regional Analysis
Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the dominant region in the thermosetting polyamide market and accounted for 36.89% of the total market share during the forecast period. This region is also anticipated to maintain its dominance throughout the forecast period. Countries such as China, Japan, India, and others significantly contribute to the region's thermosetting polyamide market growth.
Critical factors for the growing automotive, electric vehicle, building and construction, aerospace, and other end-use industry has surged the demand for thermosetting polyamide. Furthermore, the Indian automobile industry contributes almost 6.4% of India's GDP and 35% of the manufacturing GDP. It is leading employers to provide where TP’s are used extensively in the automobile sector as a substitute over metals, offering additional benefits such as drastically reducing the weight of vehicles and allowing better fuel efficiency and handling. These factors together increase the usage of thermosetting polyamide in the growing automotive industry.
A tremendous surge in construction and electronics activity in developed and developing economies such as China, India, Japan, South Korea, and other Asia-Pacific nations has enhanced the demand for thermosetting polyamide. Additionally, favorable government policies and financing, expansion of research and innovation activities to enhance the production technology for thermosetting polyamides.
In addition, countries such as Japan and Taiwan constantly expand their electrical & automation manufacturing output. As a result, thermosetting polyamide is widely employed in various electrical & electronic products such as wires, cables, and other electronic components, which help in quick and efficient bioelectric sensory devices. For instance, according to a report published by Hennessy Funds, Japan accounts for around 30% market for supplying factory automation products in the world. These factors are escalating the demand for thermosetting polyamide in the Asia-Pacific region.
Due to government support, Europe, North America, and the LAMEA region have shown positive growth in the thermosetting polyamide market. R&D activities on thermosetting polyamide have spurred market growth. In addition, the increase in the population and the rise in demand for automobiles and electric vehicles in North America and European regions have enhanced the overall market for thermosetting polyamide.
Key Players
DuPont
Mitsui Chemicals
SABIC
Saint Gobain
General
Toray International
Taimide
Shinmax Technology
Stratasys
3E Etese
Arakawa Chemical
Kaneka High Tech Materials
Nitto Denko
Sumitomo Bakelite Co. Ltd.
U-PICA Company Ltd.
Key Insights:
• The extrusion molding technology segment dominated the market in 2021 and is expected to grow over the forecast period with a total market share of 36.56%.
• Global automotive application segment held a dominant position during 2022 -2031 and accounted for 43.67% of the total market share during the forecast period.
• Asia-Pacific is the dominant region in the bio-butanol market, with a total market share of 36.89% during the forecast period.
Recent Development:
In September 2018, Lubrizol Corp. launched a new product named thermosetting polyamide material for medical applications. This strategic product launch has strengthened Lubrizol’s product portfolio for thermosetting polyamide.
In February 2020: BASF has expanded its polyamide business, and it will start marketing several polyamides (PA) and polyphthalamide (PPA) grades in Europe that it acquired as part of the takeover of Solvay’s PA66 business. This strategic business expansion has enhanced the polyamide business in the Europe region.
COVID-19 Analysis
The thermosetting polyamide market has had a negative impact due to the COVID-19 pandemic. Owing to the rise in cases of COVID-19, implementation of emergency protocols and shutdown of various operations and facilities have been observed during 2020.
Due to the spread of the coronavirus pandemic, the manufacturer has faced challenges in terms of operation and supply chain due to government restrictions during the lockdown.
However, the thermosetting polyamide market faced several difficulties with material supply chain disruptions, and labor shortages, in 2020.
Furthermore, to control the surge of novel coronavirus cases, there is a drastic shift of investments from other sectors toward the cosmetics sector. Also, several thermosetting polyamide-based product manufacturing companies have shut down or shrunk their operations due to the risk of infection among the workforce.
This has temporarily hampered the demand and supply chain of the thermosetting polyamide market. In addition, the falling income of customers has led contraction in demand for glasses, refractory materials, and others during the COVID-19 period.
In the first quarter of 2021, the market for thermosetting polyamide has experienced an increase in the demand for thermosetting polyamide chemicals in pharmaceutical, healthcare, and other end-use industry worldwide, compared to that in 2020.
Which region will dominate the global Thermosetting Polyamide market?
"Asia-Pacific" region will lead the global Thermosetting Polyamide market during the forecast period 2022 to 2030.
Which are the driving factors of the Thermosetting Polyamide market?
The key factors driving the market are rising demand in the automotive industry, increased energy saving consciousness in developing nations, and rising worldwide demand for electric vehicles.
Who are the top players operating in the Thermosetting Polyamide market?
The key players operating in the Thermosetting Polyamide market are DuPont, Mitsui Chemicals, SABIC, Saint Gobain, General, Toray International, Taimide, Shinmax Technology, Stratasys, 3E Etese, Arakawa Chemica, Kaneka High Tech Materials, Nitto Denko, Sumitomo Bakelite Co. Ltd., U-PICA Company Ltd.
What will be the CAGR of global Thermosetting Polyamide market?
The global Thermosetting Polyamide market is expanding growth with a CAGR of approximately 5.8% during the forecast period (2022 to 2030).
What is the existing size of Thermosetting Polyamide market?
The global Thermosetting Polyamide market size was valued at USD 25.89 Billion in 2021 and it is projected to reach around USD 54.95 Billion by 2030.
Ayush Kadam is a Senior Market Research Analyst at Custom Market Insights, with over seven years of experience in syndicated and custom market research. He specializes in market sizing, competitive intelligence, industry trends, forecasting, and strategic insights, helping clients turn complex data into actionable business decisions.