SRF Ltd., a multi-business entity engaged into manufacturing of Fluorochemicals, specialty chemicals, textiles and packaging films, has recently reported an impressive June quarter. Despite a significant slump in its Fluorochemicals and Tyre Cord fabric sales due to limited buying from the automotive sector, the shares of the company rose by 20% within the year, reporting a 52-weeks hike on Tuesday. The shares soared soon after the company got approval for setting up a Chloromethanes facility in Gujarat at an investment of INR 315 crores.
SRF also commissioned a new specialty chemicals unit in Gujarat this week and has recently expanded its packaging films capacity in Europe. About the June quarter, although the company’s revenue dropped by 12.4% as compared to the previous year’s, the strongly performing chemicals division helped it to grow its operating profit by 6.3%. Revenue from the division registered a growth of 16.9% in Q1FY21. The company has also registered better margins from its packaging films business with most of the plants operating efficiently as the segment largely encompasses the essential goods category.
Looking opportunistically at the outshining specialty chemicals sector, SRF is confidently looking forward to expanding its existing capacities. SRF is also looking forward to double its chemicals manufacturing capacity by January-end 2022. Due to widened demand-supply gap and firming feedstocks, local Fluoropolymers players introduced upward revision in domestic PTFE (Polytetrafluoroethylene) prices in the quarter ending June. Ex-Depot Vadodara price for PTFE General Moulding grade was closed around USD 5720 per MT while that of PTFE Fine-Cut grade was assessed at USD 8650 per MT by the end of the quarter.
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The Global Polyamide Market was valued at USD 25.14 Billion in 2016 and is projected to reach USD 30.76 Billion by 2021, at a CAGR of 4.1% from 2016 to 2021.Browse 376 market data Tables and 70 Figures spread through 335 Pages and in-depth TOC on "Polyamide Market”Click Here to Get Report SampleChina is a leading consumer of domestically produced and imported polyamides.
China has been a driver for the rapid growth in last couple of decades, globally.
Its GDP annual growth rate was 6.7% in the first quarter of 2016, which was the lowest in the last six years.
This will adversely impact polyamide market and could impede the continued investments and expansion in the polyamide market for a few years.
There is a huge polyamide capacity planned in China in near future – economic slowdown will not just impact the overall capacity utilization rate of new domestic plants but could severely hit the polyamide manufacturing in Europe and North American region from where it imports significantly.Scope of the report: This research report categorizes the global polyamide market based on type, application, and region, forecasting revenues as well as analyzing trends in each of the submarkets.On the Basis of Type:PA 6PA 66Bio-based & Specialty PolyamidesOn the Basis of Application:Engineering PlasticsAutomotiveIndustrial/MachineryElectrical & ElectronicsConsumer Goods & AppliancesPackaging/FilmWire & CableFiberTextilesIndustrialCarpetStapleOn the Basis of Region:Asia-PacificNorth AmericaEuropeMiddle East & AfricaSouth AmericaAsia Pacific accounted for the largest share of the polyamide market in 2016.Asia Pacific was the leading polyamide market in 2016 due to the increased use in the automotive, consumer goods, electrical & electronics, building & construction, and textile industries.
In recent years, the automobile sector has witnessed large-scale investments.
Polyamide 12 Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2019-2027.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.
The major players in the Polyamide 12 include Evonik Industries AG, EMS-Chemie Holding AG, Toray Industries, Inc, Ensinger, Arkema SA, RTP Company, Merck KGaA, DowDuPont, Ube Industries, Ltd., and Formulated Polymers Limited..
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The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
