Argentina Bio-based & Synthetic Polyamide Market Outlook

argentina is poised to emerge as one of the key markets in the global bio-based & synthetic polyamide market in 2018 to 2032. the country is home to the fourth largest natural gas reserves in the southern region of the western hemisphere. moreover, the increasing demand from the automobile sector is also expected to drive the country’s growth in the bio-based & synthetic polyamide market. the key drivers of the creation of demand for bio-based & synthetic polyamide in argentina in the foreseen period includes rising automotive production and sales, growing global demand for automotive products, and shift towards green energy. according to the inter american development bank, the automotive production in argentina has increased by 6.5% from 2011-2016, with the export of automobiles rising at a cagr of 8.9%. furthermore, argentina has committed to reduce carbon emissions by 30% by 2030 and aims to reach 100% renewable energy by 2050, creating demand for polymers in the process. in addition, argentina is well equipped with huge reserves of hydrocarbon resources which form the basis for synthetic production of polyamides, allowing the country to tap into the global market. moreover, the economic policies enacted by the government concerning fuel, raw materials, and technological advancements have enabled the country to shift to production of synthetic polyamides more easily. another factor driving demand for polyamides in argentina is the rise of consumer products, namely, the increased number of apparel, electronics, and furniture within the country. due to continued economic growth and the shifting consumer lifestyle preferences, argentina is not only producing more polymers to fulfill domestic needs but exporting abroad as well. the exchange rate policies of argentina also support the growth of this market in the country, as the devaluation of argentine peso has made the cost of local production and export of polyamides cost-effective. this enables argentina to gain an edge in the global polyamide market. thus, the creation of demand for bio-based & synthetic polyamide in argentina is expected to witness steady increase as the country positions itself as a key global player in this market in the foreseeable future.