USD 37.77 billion
Polyamide Market Size, Share, Growth Analysis, By Type(Polyamide 6 (PA6), Polyamide 66 (PA66), Polyamide 11 (PA11), Polyamide 12 (PA12) and others), By Application(Automotive, electronics, consumer goods, packaging), By End use industry(Automotive, electrical and electronics, healthcare, textiles and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2340 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
94
|Figures:
76
Polyamide Market Insights
Global Polyamide Market size was valued at USD 37.77 billion in 2022 and is poised to grow from USD 40.23 billion in 2023 to USD 66.57 billion by 2031, at a CAGR of 6.5% during the forecast period (2024-2031).
Global Polyamide Market is a dynamic and thriving industry that plays a pivotal role in numerous sectors, shaping the future of materials engineering. Polyamides, commonly known as nylons, are versatile and high-performance polymers renowned for their exceptional mechanical strength, chemical resistance, and thermal stability. This market serves the purpose of meeting the increasing demand for advanced materials in sectors such as automotive, electronics, consumer goods, and packaging. The growth of the market is primarily driven by key factors such as the rising need for lightweight materials to improve fuel efficiency and reduce carbon emissions in the automotive industry, the expanding electronics sector demanding heat-resistant materials for circuit boards and connectors, and the growing preference for sustainable and recyclable packaging solutions. Additionally, the market benefits from the restraints faced by traditional materials like metals and other polymers, offering superior performance and cost-effectiveness. Furthermore, key trends in the polyamide market include the development of bio-based polyamides to address environmental concerns, the integration of polyamides in 3D printing applications, and the exploration of polyamide composites for enhanced structural properties. These trends create exciting opportunities for market players to capitalize on the growing demand for polyamides across industries.
US Polyamide Market is poised to grow at a sustainable CAGR for the next forecast year
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Automotive
Fastest Growth
Automotive
Growth Rate
6.5% CAGR
Global Polyamide Market ($ Bn)
Country Share for North America Region (%)
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Polyamide Market Segmental Analysis
Global Polyamide Market is segmented on the basis of type, application, end use industry, and region. By type, the market is segmented into Polyamide 6 (PA6), Polyamide 66 (PA66), Polyamide 11 (PA11), Polyamide 12 (PA12), and others. By application, the market is segmented into automotive, electronics, consumer goods, packaging, and industrial coatings. By end use industry, the market is segmented into automotive, electrical and electronics, healthcare, textiles, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Type
In the global polyamide market, the largest segment is Polyamide 6 (PA6), which holds a dominant position in terms of market share and revenue. PA6, known for its excellent mechanical strength, thermal stability, and chemical resistance, finds extensive applications across various industries. Its exceptional properties make it a preferred choice for automotive components, electrical and electronic parts, textiles, and industrial machinery. The demand for PA6 is driven by its versatility and cost-effectiveness, making it a go-to material for manufacturers seeking high-performance solutions.
On the other hand, the fastest-growing segment in the polyamide market is Polyamide 66 (PA66). With a strong compound annual growth rate (CAGR) of 7.2% over the forecast period, PA66 is experiencing surging demand across multiple industries. PA66 offers exceptional mechanical properties, including high strength, stiffness, and heat resistance. It is widely used in automotive applications such as engine components, fuel systems, and electrical connectors due to its ability to withstand demanding operating conditions. Additionally, the electronics industry relies on PA66 for its excellent electrical insulation properties and resistance to chemicals and solvents.
Analysis By End Use Industry
The automotive industry dominated the global market. Polyamides find extensive utilization in automotive applications due to their lightweight nature, excellent mechanical strength, and ability to withstand high temperatures. As automakers strive to improve fuel efficiency and reduce emissions, the demand for lightweight materials like polyamides has surged. They are used in components such as engine covers, intake manifolds, fuel systems, and structural parts, offering enhanced performance and contributing to vehicle weight reduction. With the automotive industry experiencing steady growth and the continuous push for eco-friendly solutions, the polyamide market is poised to witness a substantial expansion in this segment.
Furthermore, the fastest-growing segment in the global polyamide market is the electrical and electronics industry. As the demand for electronic devices and electrical components continues to rise, there is a growing need for high-performance materials that can withstand heat and provide excellent electrical insulation. Polyamides fulfill these requirements and find application in connectors, switches, circuit boards, and cable insulation. The proliferation of smart devices, electric vehicles, and renewable energy systems further drives the demand for polyamides in this sector. With rapid technological advancements and the increasing integration of electronics in various applications, the electrical and electronics industry presents significant opportunities for the polyamide market to flourish.
Global Polyamide Market By End Use Industry
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Polyamide Market Regional Insights
Asia Pacific, known for its strong industrial base, rapid economic growth, and extensive manufacturing activities, dominated the global market. With countries like China, India, and Japan at the forefront, Asia Pacific holds a significant market share in the polyamide industry. The region's dominance can be attributed to the booming automotive and electronics sectors, which are major consumers of polyamides for applications such as automotive parts, electrical connectors, and consumer electronics. For example, China's robust automotive industry and the increasing demand for electric vehicles contribute to the high consumption of polyamides in the region.
On the other hand, Europe is the fastest-growing region in the global polyamide market. The region is witnessing substantial growth driven by factors such as stringent regulations promoting sustainable materials, advancements in industrial automation, and the presence of key automotive manufacturers. Europe's focus on reducing carbon emissions has led to the adoption of lightweight and eco-friendly materials like polyamides in automotive components, resulting in significant market growth. Additionally, the growing demand for polyamides in sectors such as electrical and electronics, packaging, and industrial applications further fuels the market expansion in Europe.
Global Polyamide Market By Geography
- Largest
- Fastest
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Polyamide Market Dynamics
Drivers
Growing Demand from Automotive Industry
- The automotive industry is a major driver of the polyamide market. The increasing focus on lightweight materials to enhance fuel efficiency and reduce emissions has led to rising demand for polyamides in various automotive applications. For instance, polyamides are used in the production of lightweight components such as engine covers, intake manifolds, and air ducts, contributing to overall vehicle weight reduction.
Restraints
Fluctuating Raw Material Prices
- The polyamide market faces a restraint in the form of fluctuating raw material prices. The primary raw materials for polyamide production, such as adipic acid and hexamethylenediamine, are petroleum-based, making the market vulnerable to price fluctuations in the oil and gas industry. Fluctuating prices can impact the profitability of polyamide manufacturers and pose challenges in maintaining stable pricing for end-users.
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Polyamide Market Competitive Landscape
Global Polyamide Market features a highly competitive landscape with the presence of several key players vying for market share. Major companies operating in the market are actively engaged in strategic initiatives such as mergers and acquisitions, partnerships, and new product launches to strengthen their market position. Additionally, investment in research and development activities to introduce innovative polyamide solutions with enhanced properties is a common strategy adopted by market players. The competitive environment is characterized by intense rivalry, technological advancements, and a focus on sustainable manufacturing practices. Moreover, players are expanding their production capacities and global footprints to cater to the growing demand from various end-use industries. The competitive landscape in the global polyamide market is expected to witness further consolidation as companies strive to gain a competitive edge by offering a diverse range of high-performance polyamide products and solutions to meet the evolving needs of customers across industries.
Top Player’s Company Profiles
- BASF SE (Germany)
- Solvay SA (Belgium)
- DuPont de Nemours, Inc. (US)
- DSM NV (Netherlands)
- Lanxess AG (Germany)
- Ascend Performance Materials LLC (US)
- Radici Group (Italy)
- Evonik Industries AG (Germany)
- Invista (US)
- Asahi Kasei Corporation (Japan)
- Arkema SA (France)
- Mitsui Chemicals, Inc. (Japan)
- Ube Industries, Ltd. (Japan)
- Formosa Plastics Corporation (Taiwan)
- SABIC (Saudi Arabia)
- Domo Chemicals GmbH (Germany)
- Toray Industries, Inc. (Japan)
- Sumitomo Chemical Co., Ltd. (Japan)
- Lanxess Corporation (US)
- Victrex plc (UK)
Recent Development
- In October 2023, Toray Industries signed an agreement with Honda Motor to jointly develop chemical recycling technology for glass-fiber-reinforced polyamide (PA) 6 parts recovered from end-of-life vehicles. The partners have begun verifying a technology that entails depolymerization using subcritical water to obtain raw caprolactam.
- In June 2023, Mitsui Chemicals announced the launch of its new Technoflon PA12 product line, which is designed for high-performance applications.
- In May 2023, RadiciGroup announced the launch of its new Rilsan PA11 product line, which is designed for food-contact applications.
Polyamide Key Market Trends
- Growing Interest in 3D Printing: The polyamide market is witnessing a trend toward the integration of polyamides in 3D printing applications. Polyamides, such as nylon, exhibit excellent mechanical properties and can be easily processed using additive manufacturing techniques. This trend is particularly prominent in industries like aerospace and automotive, where 3D-printed polyamide components provide design flexibility, lightweight structures, and complex geometries.
Polyamide Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Polyamide Market analysis, the market is witnessing steady growth and is poised for significant expansion in the coming years. The market analysis reveals that the increasing demand for lightweight and high-performance materials across various industries is a major driver of this growth. Polyamides, with their superior mechanical properties, chemical resistance, and thermal stability, are finding extensive applications in sectors such as automotive, electronics, textiles, and packaging. The automotive industry, in particular, is experiencing a surge in the adoption of polyamides for components like engine covers, fuel systems, and interior parts, driven by the need for fuel efficiency and vehicle lightweighting.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 37.77 billion |
| Market size value in 2031 | USD 66.57 billion |
| Growth Rate | 6.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Polyamide Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Polyamide Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Polyamide Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Polyamide Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Polyamide Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Polyamide Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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