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The polyamide market size is forecast to increase by USD 5.18 billion at a CAGR of 3.56% between 2023 and 2028. The market, encompassing macromolecules such as Nylons and Aramids, exhibits significant growth due to its superior properties and versatile nature. Widely used in engineering applications, thermoplastics, textile markets, consumer goods, electrical appliances, coatings, films, and precursors, Polyamides offer exceptional strength, durability, and resistance to heat, chemicals, and abrasion. A key trend influencing the market is the increasing adoption of Polyamides in the additive manufacturing industry, which allows for complex part design and reduced production time. However, the market faces challenges from the volatility in raw material prices and their impact on the overall cost structure. Despite these challenges, the future of the market looks promising, driven by continuous innovation and the growing demand for sustainable, bio-based Polyamides.
Polyamide, a versatile macromolecule, is the backbone of various high-performance materials, including nylons and aramids. Nylons, a type of polyamide, are known for their excellent wear resistance and mechanical qualities, making them ideal for textile markets and consumer goods. Aramids, another class of polyamides, offer unparalleled strength and chemical resistance, finding applications in engineering, aerospace, and industrial machinery. Thermoplastics derived from polyamide 66 exhibit exceptional gas permeability, making them suitable for use in electrical appliances and building and construction. Aramids, with their bio-based counterparts, also play a significant role in the production of lightweight automobiles, contributing to the growth of passenger car sales.
Further, polyamides offer a wide range of benefits, including high tensile strength, flexibility, and resistance to heat and chemicals. Their unique properties make them indispensable in various industries, including electrical and electronics, and wear resistance applications. Bio-based polyamides are gaining popularity due to their eco-friendly nature, providing a sustainable alternative to traditional polyamides derived from fossil fuels. The future of the market looks promising, with continued research and development leading to new applications and innovations.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The PA6 segment is estimated to witness significant growth during the forecast period. PA 6, a high-performance polyamide, is primarily manufactured through the polymerization of caprolactam (CPL). The original CPL production process involves a reaction with cyclohexanone and hydroxylamine sulfate in a multi-compartment reactor. Hydrolytic polymerization of CPL is widely adopted for large-scale production due to its adaptability and ease of control parameters. Market participants have developed unique production methods tailored to their specific applications, providing them with a competitive edge.
The production of CPL is experiencing growth in the Asia Pacific region, fueled by the increasing demand for polyamides, particularly PA 6. This trend is driving the demand for CPL and contributing to the expansion of the PA 6 market in sectors such as Electronics & electrical, Building & construction, Aerospace, Industrial and Machinery, and others. PA 6 offers desirable properties such as high temperatures resistance, corrosion resistance, non-adhesive, and low friction, making it a preferred choice for various industries.
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The PA6 segment accounted for USD 9.85 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is witnessing significant growth, with APAC holding the third-largest market share in 2023. China, being the leading producer and consumer in the region, is anticipated to increase its production capacity and PA consumption during the forecast period. In the APAC region, the electrical and electronics industry, along with the automotive sector, is driving the demand for polyamides. These industries are experiencing rapid expansion in China and India, making them key contributors to regional market growth. Polyamides, also known as Aramid and Polyphthalamide, are high-performance plastics that offer excellent properties such as high temperature resistance, corrosion resistance, and low friction. These properties make them ideal for use in various industries, including electronics & electrical, building & construction, aerospace, industrial and machinery, and others. The growing demand for non-adhesive and low-friction materials in these industries is expected to fuel the consumption of polyamides during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The superior properties and versatile nature of PAs is the key driver of the market. Polyamide, a versatile macromolecule, is widely utilized in various industries for its unique properties. Nylons and Aramids are popular PA variants, known for their high melting temperatures and adaptability. Engineering applications benefit significantly from PAs due to their thermoplastic nature, allowing for easy processing and recycling. In textile markets, PAs are used for consumer goods and electrical appliances, while in industrial sectors, they are employed in coatings, films, and precursors. The low-friction property of PAs makes them ideal for large-volume standard products, including gears, bushings, and plastic bearings. Additionally, high-wear applications favor PAs over other engineering plastics. Beyond automotive and electrical and electronics industries, PAs find extensive use in consumer products such as toys, furniture, and components for high-heat applications.
Furthermore, gears for mechanism transmissions are another significant application area for this material. Bio-based PAs are gaining popularity due to their eco-friendly nature, adding to the material's versatility.
Wide usage of PAs in additive manufacturing industry is the upcoming trend in the market. Polyamides, also known as nylons and aramids, are macromolecules widely utilized in various industries due to their engineering properties as thermoplastics. In the textile markets, they are used for producing consumer goods and clothing. Beyond textiles, polyamides find extensive applications in electrical appliances, coatings, films, and precursors for producing other chemicals.
Further, in the advanced manufacturing sector, polyamides are gaining popularity in additive manufacturing, particularly in techniques such as slurry and powder-based 3D printing, laser sintering, stereolithography, laminated object manufacturing, direct deposition additive manufacturing (material jetting and binder jetting). These techniques enable the production of complex parts with reduced material waste and improved sustainability. In the additive manufacturing industry, polyamides are valued for their versatility and cost-effectiveness. They are available as filaments for 3D printing, sheets for CNC machining, and films for packaging applications.
Volatility in raw material prices and its impact is a key challenge affecting the market growth. The Polyamide (PA) market value chain has experienced a decline in value over the past few years, with market dynamics heavily influenced by fluctuations in crude oil prices. The recent sharp decrease in crude oil prices, which reached an all-time low, significantly impacted the global PA market. This decline in crude oil prices directly affected the cost of Caprolactam (CPL), a primary raw material used in PA production, and its derivative benzene through cyclohexane.
Consequently, the final PA product cost is directly linked to the volatility of crude oil prices. According to the International Energy Agency (IEA), in April 2020, the benchmark price of crude oil in the US dropped due to the global economic contraction caused by the COVID-19 pandemic and an oil market collapse. This event further intensified the impact on the PA market, particularly in sectors such as engineering, textiles, consumer goods, electrical appliances, coatings, films, and precursors.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arkema SA: The company offers polyamide that delivers extreme toughness, abrasion resistance, impact resistance and is renewable with bio-based sourcing.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Polyamide, a versatile macromolecule, is a key player in various industries due to its unique properties. Nylons and aramids, types of polyamides, are widely used in engineering applications as thermoplastics. In textile markets, nylons find extensive use in consumer goods, while aramids excel in high-performance applications. Bio-based polyamides are gaining traction as raw materials in various sectors. Coatings, films, and precursors are some areas where these eco-friendly alternatives are making an impact. The electrical appliances, building & construction, aerospace, and industrial and machinery industries are major consumers of polyamides. Polyamides offer excellent mechanical qualities, including wear resistance, high temperatures resistance, and low friction, making them suitable for various applications. In the automotive sector, they are used in vehicle production and consumer electronics. In the aerospace sector, engineering plastics made from polyamides are used for their lightweight properties and ability to withstand extreme conditions.
Additionally, the global revenue for polyamides is significant, with major markets in ASEAN countries and the US. The pandemic has affected the supply chain, leading to digitalization, robotics, and virtual reality solutions in the industry. Technological innovation continues to drive growth in this sector, with applications in IoT, 5G connectivity, and EVs. Polyamides also find use in non-traditional applications, such as in the textile industry for wool and silk substitutes, and in the R&D activity for aliphatic and aromatic polyamides. The industry life cycle is in the growth stabilization phase, with emerging nations showing increased interest in automotive applications and lead-free soldering for electronics manufacturing.
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Market Scope |
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Report Coverage |
Details |
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Page number |
187 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.56% |
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Market growth 2024-2028 |
USD 5.18 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
3.39 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 57% |
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Key countries |
China, US, Japan, Germany, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AdvanSix Inc., Arkema SA, Ascend Performance Materials, BASF SE, Domo Chemicals GmbH, DuPont de Nemours Inc., Evonik Industries AG, Formosa Chemicals and Fibre Corp., Goodfellow Cambridge Ltd., Huntsman Corp, Invista, Koninklijke DSM NV, Lanxess AG, Lealea Group, Radici Partecipazioni Spa, Shenma Industrial Co. Ltd., Solvay SA, Toray Industries Inc., Toyobo Co. Ltd., and Ube Corp. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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