According to the International Energy Agency (IEA), over more than 1 million electric vehicles were sold across the world, resulting in a global stock of over 3 million. The unprecedented rise of 54% in electric vehicle sales was recorded in 2017, attributed to some important environmental policy announcements, and this is expected to generate high demand for electric components manufactured using polyamide in e-mobility. In addition, China’s share in global sales of electric vehicles increased from just 10% in 2013 to over 40% in 2017, which indicates more lucrative opportunities for polyamide suppliers in e-mobility market in the country. Increasing stringency of environmental laws being enacted across the world is likely to accelerate electric vehicle sales in the coming years, contributing to the increasing applications of polyamide.
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One of the leading reasons behind increased applications of polyamide in e-mobility is its thermal stability and temperature resistance properties. High performance plastics, such as polyamide 6 and polyamide 66, can retain its stability at temperatures as high as 230°C, thereby manufacturing automotive components using polyamide is becoming a popular trend among automakers.
Increasing demand for polyamide in e-mobility can be majorly attributed to its flame-retardant characteristic, which is boosting its applications in manufacturing of batteries, control units, and connectors in electric vehicles. Polyamide suppliers are aiming to discover innovative composites of polyamide to give automotive components electromagnetic shielding properties and diversify their product range to gain an edge in the market.
Automakers Focus on Weight Reduction in Automotive Components; Metal to be Replaced by Polyamide in E-mobility
Automotive manufacturers are shifting their focus towards employing high performance plastics to further enhance performance characteristics of automotive components. To eliminate the needs for maintenance and mitigate the disadvantages of heavy weight of metallic automotive components, automakers and original equipment manufacturers (OEMs) are making a shift towards using lightweight materials such as polyamide in e-mobility.
Reducing weight of automotive components can help automakers to minimize energy consumption of electric vehicles, which is mainly bolstering the potential of high demand for polyamide in e-mobility. As lightweight design of automotive components measure a great importance in the automotive industry, the applications of polyamide in e-mobility are likely to be multiplied in the coming future.
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According to the French industry association Groupement Plasturgie Automobile (GPA), the shortage of polyamide 66 supply caused an increase of more than 40% in its price in 2017. The global demand for lightweight automotive components has surged to put the supply chain for polyamide in e-mobility under immense pressure. As the polyamide supply has been too concentrated to meeting the burgeoning demand for lightweight automotive components, a majority of polyamide manufacturers have introduced a price rise.
BASF Corporation, a German chemical company, has increased the prices of polyamide 66 grades by $0.38/lb. Celanese Corporation, an American manufacturer of specialty chemicals, increased the prices of polyamide 66-based long-fiber thermoplastic grades by $0.22/kg in the U.S. and Asia, and by €0.15/kg in Europe. Koninklijke DSM N.V., a Dutch multinational, also announced that it has increased the prices of polyamide 66 by €0.17/kg.
In order to deal with polyamide 66 shortages and price rise, leading players are shifting to its smarter alternatives, such as polyamide 6, which is exhibits nearly similar strength and thermal stability as polyamide 66. Manufacturers of polyamide are also likely to introduce recycled polyamide compounds, which meet the necessary quality standards, for manufacturing automotive components to counteract tight supply and increased prices of polyamide 66.
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The chemical industry produces pigments and dyes, as well as pigments for clothing, construction, and adhesives.
These pigments are widely found in textile, garment, and rubber dyes, as well as dyes and specialized chemicals for construction and adhesives.
They're commonly found in industrial and protective coatings.
They are employed in arts and crafts, photography processes, the medical profession, and aerospace applications, in addition to producing coatings.Fluorescent pigments, alkyds, transparent coatings, and phosphorescent pigments are examples of specialty chemicals.
Fluorescent pigments are created by passing an electric current through a bright, charged substance, generally metal.
They're utilized in a number of production processes as stabilizers, binders, or lubricants.
According to the World Bank, the strength of the global workforce stood at 3.386 billion in 2020.
This populace is creating an extensive demand for processed food products that are packaged in polystyrene, which is manufactured by using 1,5-cyclooctadiene.
Additionally, the surging preference for online shopping of groceries and packaged meals will also boost the consumption of 1,5-cyclooctadiene in the upcoming years.Moreover, the escalating use of agrochemicals, to increase the yield and prevent crop losses, will help the 1,5-cyclooctadiene market grow during the forecast period (2020–2030).
According to P Intelligence, the market generated around $210.0 million in 2020.
The chemical compound is primarily used in the production of fertilizers and insecticides that are being used to establish an organic sustainable agricultural ecosystem.
Furthermore, the increasing requirement for food crops, owing to the soaring population, also contributes to the market growth worldwide.The application segment of the 1,5-cyclooctadiene market is classified into solvents, elastomers, catalyst ligands, chemical intermediates, specialty chemicals, and others, such as plastics, protective coatings, paint and dyes, and adhesives and sealants.
Governments around the world are taking responsible steps towards the adoption of clean energy technologies while reducing dependence on oil.
This calls for electric vehicle manufactures, electric utilities and states to work together towards putting more electric vehicles on the road.
The FactMR report provides comprehensive information about competitive environment and company developments in the amorphous iron (Fe amorphous) market.
The report provides key financials and information on winning strategies of amorphous iron (Fe amorphous) market players including GKN plc.
(Hoeganaes Corporation), Rio Tinto PLC, Höganäs AB, Voestalpine Stahl GmbH, Hitachi Metals Ltd, Toshiba Corp (Toshiba Materials Co., Ltd.), Sumitomo Metal Mining Co., Ltd., VACUUMSCHMELZE GmbH & Co. KG, PMG Holding GmbH, and Hengdian Group DMEGC Magnetics Co., Ltd.Request For Report Sample Here - https://www.factmr.com/connectus/sample?flag=S_id=2472Due to rising protectionist measures and trade wars concerning the exports of rare-earth magnets, a majority of industry players had been facing challenges associated with raw material supply for manufacturing magnetic materials.
However, most end-users are finding ways to reduce their dependence on rare-earth magnets by shifting to amorphous iron as a magnetic material.Especially in the U.S., a large percentage of electric motor manufacturers are shifting to amorphous iron since the U.S. government has imposed a ban on imports of rare earth magnets from China.
Thereby, motor manufacturers and other industry players are finding ways to diversify their sources of magnetic materials, and this is expected to create numerous opportunities for players in the amorphous iron (Fe amorphous) market.Use of Amorphous Iron in Improving Energy Efficiency of Machines Driving AdoptionThough amorphous iron or Fe amorphous is often considered an exotic material, its unique magnetic properties have contributed to increasing its adoption among end-users.
This is expected to remain the primary driver of the amorphous iron (Fe amorphous) market in the future.Electrification of Drive Boosts Demand for Electric Motor – Triggers Adoption of Amorphous IronThe global fleet of electric vehicles has been expanding at a rapid pace and various electric equipment used in electric vehicles are expanding the range of applications for amorphous iron or Fe amorphous as a magnetic material.
The global Specialty Chemicals Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Specialty Chemicals Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/specialty-chemicals-market/download-sampleMarket DynamicsThe global specialty chemicals market is anticipated to thrive with booming industries, expanding consumer base, and growing per capita income.
Specialty polymers, electronic chemicals, industrial and institutional cleaners, surfactants, and flavors and fragrances are the top five segments with a market share of over one-third.
Furthermore, advances in supply-chain management, strengthening distribution channels, spurring e-commerce, surging exports, and customer awareness are also promoting the market's growth.
However, the volatility of raw materials and trade barriers is hindering the market growth.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
