Polyamide Market Sales to Reach US$ 64.7 Bn By 2030
The global polyamide market size accounted for US$ 36.4 billion in 2021 and is projected to reach around USD 64.7 billion by 2030, growing at a CAGR of 6.6% from 2022 to 2030.
Polyamide Market Key Takeaway
- By type, the aliphatic polyamides segment hit 83% market share in 2021.
- The aromatic polyamides segment accounted 17% revenue share in 2021.
- Asia-Pacific region is projected to grow at a CAGR of 3.8%.
- North America is expected to reach at a CAGR of 2.7% from 2022 to 2030.
- Polyamide 6 product segment is growing at a registered CAGR of 2.7%.
- Engineering plastics application segment is poised to reach at a CAGR of 2.8% from 2022 to 2030.
The global polyamide market report provides a Point-by-Point and In-Depth analysis of global market size, regional and country-level market size, market share, segmentation market growth, competitive landscape, sales analysis, opportunities analysis, strategic market growth analysis, the impact of domestic and global market key players, value chain optimization, trade regulations, recent developments, product launches, area marketplace expanding, and technological innovations. The global polyamide market study covered in the report spans a forecast period from 2022 to 2030.
The study offers a comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales in the polyamide market across the globe.
A comprehensive estimate on the polyamide market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of polyamide during the forecast period. Price point comparison by region with global average price is also considered in the study
Polyamide Market Scope
|Market Size in 2022||USD 38.8 Billion
|Market Size by 2030||USD 64.7 Billion|
|Growth Rate from 2022 to 2030||CAGR of 6.6%|
|Forecast Period||2022 to 2030|
|Segments Covered||Product, Type, Applications, Class and Geography|
Rising Demand from Umpteen Industries to Augment Value
The automotive sector is fairly consolidated, with 50% of the industry being occupied by the dominant player such as Ford, GM, Volkswagen, and Toyota. Integration of Polyamide in the automotive sector towards bearing, bushings, wire harness connectors, oil containers, cylinder head covers, and fuse boxes will increase the value of the global polyamide market growth. Additionally, rising demand from the sector of electrical and electronics manufacturers, garments, and others will further increase the market’s footprint.
Polyamide is also integrated within the electronic and electric sector in manufacturing PCBs and miniature circuit breakers (MCBs). They are also heavily used in cables and wirings, connectors, contractors, and low voltage switch gears, among others.
Polyamide also contains a robust set of attributes such as good process ability, thin walls, laser marking ability, lower flammability, higher resistance to stiffness and toughness, higher heat distortion temperature, excellent flow characteristics, and a shorter injection cycle time which make them highly accessible within a wide range of applications. Polyamide is also used within the garment industry and is heavily used for manufacturing sportswear and loungewear.
Impact of COVID-19
The global pandemic slowed down the growth of the global polyamide market due to disruption in the supply chains and constant nationwide lockdowns. Demand for PA 6 and PA 66 was lowered as production costs were raised due to fewer workforces being optimized due to the pandemic and increasing restrictions on the general population. Due to a fragmented transport sector, the pharmaceutical and consumer goods sector was affected owing to a huge demand-supply cycle.
As the tenure of the pandemic moved on, the competitive landscape of the market changed as companies began investing in developed regions. Investments towards the R&D departments to improve the product offerings. Government bodies worldwide further choose to support the market’s growth by incentivizing middle-class income groups.
Reports Coverage: It incorporates key market sections, key makers secured, the extent of items offered in the years considered, worldwide containerized polyamide market and study goals. Moreover, it contacts the division study gave in the report based on the sort of item and applications.
Market Outline: This area stresses the key investigations, market development rate, serious scene, market drivers, patterns, and issues notwithstanding the naturally visible pointers.
Market Production by Region: The report conveys information identified with import and fare, income, creation, and key players of every single local market contemplated are canvassed right now.
The key factors driving growth in the polyamide market is the superior properties and versatile nature of polyamides. polyamide polymer is useful for a wide range of applications that require plastic materials with high melting temperatures. It is diverse and adaptable to suit varied applications due to the availability of PA variants. The low-friction property of polyamides allows its use for many large-volume standard products in addition to gears, bushings, and plastic bearings.
polyamide 66 is one of the most popularly used thermoplastic materials. It offers extreme heat resistance and strength. polyamide 6 is used for applications such as threads, nets, ropes, and knitted garments. PA 6-10 is widely used in making filaments of brushes, electric insulators, hosiery, and zip fasteners as monofilaments.
The volatility in crude prices and their impact will be a major challenge for the polyamide market during the forecast period. Globally, the PA value chain has suffered in terms of value in recent years. Market dynamics are highly dependent on the prevailing crude oil prices. The rapid fall in crude oil prices affected the prices of CPL, derivative benzene through cyclohexane.
The final polyamide product cost depends on crude oil fluctuations. The volatile crude oil prices are inherent in the chemical industry. Minor stability can be anticipated by fundamental changes in the supply and demand dynamics in the global polyamide market. The fluctuation in raw material prices is expected to be a hindrance to the global polyamide market as it negatively impacts the overall pricing of polyamide products upfront.
Also Read: Medical Polymer Market Size Holds US$ 38.3 Bn Potential By 2030
Polyamide Market Players
The report includes the profiles of key polyamide market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information, key development in past five years.
Major companies operating in this area are:
- BASF SE
- AdvanSix Inc.
- Ube Industries Ltd.
- Domo Chemicals
- Toray Industries, Inc.
- Ashley Polymers Inc.
- Ascend Performance Materials LLC
- Toyobo Co. Ltd.
- Lanxess AG
- Huntsman Corporation
- Goodfellow Group
- Bio-based Polyamide
- Polyamide 6
- Specialty Polyamides
- Polyamide 66
- Engineering Plastics
- Electrical & Electronics
- Consumer Goods & Appliances
- Aliphatic Polyamides
- Aromatic Polyamides
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
- Latin America (Brazil and Rest of Latin America)
- Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
It involves company databases such as Hoover’s: This assists us to recognize financial information, the structure of the market participants and industry’s competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to-face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire-based research etc.
- In order to validate our research findings and analysis, we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Why should you invest in this report?
If you are aiming to enter the global polyamide market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for polyamide are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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