India Development News & Foreign Investment Opportunities

Polyamide demand to grow at CAGR 9.41%

Industries driving demand growth

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Industries driving demand growth

 

SRF Ltd.

 

The demand for polyamide in India is projected to grow at a CAGR of 9.41% during 2019-2030 to reach 657 KTPA by 2030. It was 206 KTPA in 2018.

As polyamide has enhanced chemical and mechanical properties such as tensile strength, its demand is growing in industries such as automotive, machinery, electrical & electronics, consumer goods & appliances and textiles.

Moreover, increasing polyamide use in the form of heat conducting polyamides in the electrical & electronics industry is expected to push the country’s polyamide market during 2019-2030.

Rising industrialization coupled with increasing demand for high-quality bio-based polyamides for automotive and sports applications are anticipated to drive the demand for polyamide in India during forecast period.

Some of the major players operating in the country’s polyamide market are Gujarat State Fertilizers & Chemicals Limited, SRF Limited and Century Enka Limited. fiinews.com

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