Global bio-polyamide market to grow 12% annually up to 2019

The global bio-polyamide market is projected to grow at a CAGR of 12.01% over the period 2014-2019 according to a report by Research and Markets. The report, Global Bio-Polyamide Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from various industry experts.  

According to the report, there has been a significant increase in R&D spending in recent years. Major players in the market are investing heavily in the R&D of alternative production processes because of reducing margins and a dearth of innovations in technology. They are looking to formulate new products for restructuring and realigning their product portfolios. Vendors try to develop high-performance products for niche applications with huge profit margins, thereby contributing to the growth of the market.

Growing demand from emerging economies in APAC is one of the major factors contributing to the market's growth. India is the fastest growing market in APAC as it is a major producer of castor oil, which is the most used feedstock in the production of bio-polyamide.

The report further states that the high cost involved in the production of bio-polyamides may also affect market growth.