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Polyamide Market

Polyamide Market Size, Share & Trends Analysis Report By Product (Polyamide 6, Polyamide 66, Bio-based Polyamide, Specialty Polyamide), By Application (Engineering Plastics, Fibers) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Report Code: SRAM1584DR
Study Period 2018-2030 CAGR 3%
Historical Period 2018-2020 Forecast Period 2022-2030
Base Year 2021 Base Year Market Size USD 32 Billion
Forecast Year 2030 Forecast Year Market Size USD 40 Billion
Largest Market Asia Pacific Fastest Growing Market Europe
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Market Overview

The global polyamide market size was valued at USD 32 billion in 2021 and is expected to grow to a value of USD 40 billion in 2030, registering a CAGR of 3.0%. Increasing demand for automotive sectors and end-use industries drives the global market's demand by 2030.

Polyamide is a substance with a long chain of multiple-unit molecules that are the repeating units in the molecular chains linked together through amide groups. Amide groups have a chemical formula of CO-NH. In broader terms, polyamide contains proteins and peptides that produce polymers that consist of amino-acid repeating units. Polyamides occur in natural and artificial states. Examples of naturally occurring polyamides are proteins such as silk and wool, while examples of artificial polyamides include nylons, aramids, and sodium poly aspartate. The global polyamide market can be categorized into product and application.

Market Dynamics

Polyamide Market Drivers

Increasing Demand from Automotive Sector

The automotive sector is a highly condensed industry where the product range is high because of the many players present in the market. 49% of the market is dominated by top players that include Ford, GM, Volkswagen, and Toyota, where Polyamide is integrated into various engine components such as bearing, bushings, wire harness connectors, oil containers, cylinder head covers, and fuse boxes, among others. Growth in the automotive store is directly proportional to the growth of the global market. Factors such as improving socio-economic trends and infrastructure development supporting the automotive sector will add to the value of the market.

Additionally, the availability of a robust workforce, favorable regulations, and initiatives undertaken by the government to attract a wide range of FDI investments will result in major players shifting their manufacturing base to India and China. Also, automobiles infused with polyamide lead to a lightweight and versatile nature, allowing for design flexibility. This leads to the production of advanced shapes without compromising on the safety and stability of the vehicles. Integration of polyamide on a large scale within the automobile sector will further lead to the growth of the global polyamide market size during the forecast.

Increasing Demand from End-Use Industries

Polyamide is gaining wide attention from various sectors such as electrical and electronics manufacturers, as plastic parts are more compact and can easily integrate with other components. This gives rise to simple design procedures. This factor provides the ability to develop smarter miniature circuit breakers (MCBs) with a thin wall. Additionally, Polyamide is further used in tubes for cables and wirings, connectors, contractors, low voltage switch gears, and other electrical and electronics industries. The rising demand for polyamide from the textile industry will accelerate the market.

Polyamide contains good processability, 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. These factors make Polyamide incredibly valuable in various sectors, especially in the electrical and electronic industry. Additionally, the product can also be integrated within sportswear, loungewear, and children’s wear, among other ranges of garments. Properties such as wear resistance, high strength, lightweight, and dyeability will support the use of Polyamide within the garment sector.

Polyamide Market Restraint

Rising Threat from Alternative Products

Polyamide substitutes such as polypropylene and polyvinylidene fluoride (PVF) are expected to hamper the growth rate of the global market. PVF is a non-reactive thermoplastic that possesses finer characteristics when compared to its counterpart. Polyamide, in turn, contains a higher density, high wear resistance, higher UV resistance, harder surface, and lower elasticity. Comparatively, polypropylene is extremely smooth, has more elasticity, higher tensile strength, lower elongation, and has better handling. PVF has gained acceptance as a major alternative to polyamide fishing lines in recent years.

A wide range of applications such as textiles, medical, and fishing applications have found a way to integrate polypropylene. Volatility in raw material pricing, such as caprolactam, which is used to produce polyamide, will contribute to the downfall of the market size. Additionally, crude oil prices vary on a daily basis due to supply-demand imbalances, seasonal variation, and political stability. These factors lead to irregularity in the production of polyamide, which further leads to decreasing market size.

Regional Analysis

Asia-Pacific to Hold the Largest Market Share due to Availability of Raw Materials

Asia-Pacific had a market value of USD 13,637 million in 2021 and is expected to have an estimated value of USD 18,154 million by 2030, registering a CAGR of 3.9% during the forecast period. Factors such as easy availability of raw materials and lower labor costs will contribute to the regional growth. Additionally, the integration of developing a smarter MCB having thinner walls coupled with rising concerns regarding the size and carbon footprint of electrical devices will further increase the market value of the global market.

China will have the largest sub-segmental growth in the region, with an estimated value of USD 6,203 million in 2021. It is expected to grow to an approximate value of USD 9,033 million by 2030, with a CAGR of 4.8%. Factors such as rising demand for electric vehicles and the introduction of stringent regulations will add to the market value of China.

Europe will account for the second-largest market with a value of USD 9,384 million in 2021. It is expected to grow to an estimated value of USD 11,453 million by 2030, with a CAGR of 2.5% during the forecast. Factors such as the presence of automobile manufacturers like Fiat, BMW, and Volkswagen coupled with a well-developed infrastructure for enabling auto components will push the market value to higher growth.

Additionally, the increased focus of the government on reducing vehicular emissions will further add value to the global polyamide market growth during the forecast. Germany had a market value of USD 3,424 million in 2021 and will grow to an estimated value of USD 4,726 million in 2030, with a CAGR of 2.9% during the forecast. Factors such as increasing demand for sustainable packaging from the food and beverage sector and the region being the manufacturing hub of Europe will contribute to the regional growth.

The North American market currently commands a sizeable 32.9% market share in the overall business landscape, and it is anticipated that it will continue to do so until the conclusion of the projection period. It is projected that this region's significant growth in polyamide consumption will result from significant investments in polyamide research and development. The large production capacities of the local facilities will also be a significant factor in determining the potential of the North American polyamide market until 2031.

Report Scope

Report Metric Details
Segmentations
By Product
  1. Polyamide 6
  2. Polyamide 66
  3. Bio-based Polyamide
  4. Specialty Polyamide
By Application
  1. Engineering Plastics
    1. Automotive
    2. Electronic and Electrical
    3. Consumer Goods and Appliances
    4. Packaging
    5. Others
  2. Fibers
    1. Textile
    2. Carpet
    3. Others
Company Profiles BASF SE AdvanSix Inc. Ube Industries Ltd Domo Chemicals Toray Industries Inc. Ashley Polymers Inc. Ascend Performance Materials Toyobo Co Ltd Lanxess AG Huntsman Corporation Goodfellow Group
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

Which Polyamide Product Type is Most Preferred?

Based on the product, the market can be divided into polyamide 6, polyamide 66, bio-based polyamide, and specialty polyamide. The segmental growth of polyamide 6 will account for the largest market value, with an estimated value of USD 16,612 million in 2021. It is expected to reach USD 20,026 million in 2030, with a CAGR of 2.8% during the forecast. The unique properties of PA 6 make it a viable product substitute for materials such as steel, bronze, brass, gunmetal, aluminum, and plastics, among others. Electrical protection device manufacturers will also allow for segmental growth. Additionally, the integration of PA 6 from the premium carpet industry, fishing nets, and travel accessories will increase the demand for polyamide 6 during the forecast period. Polyamide is replacing metal components in light vehicles to make them lighter and fuel-efficient.

Based on application, the market can be segmented across engineering plastics and fibers. The engineering plastics can be further distributed across automotive, electronic and electrical, consumer goods and appliances, packaging, and others, while the fibers segment can be broken down into textile, carpet, and others. Engineering plastics will account for the largest segmental growth, with a value of USD 18,832 million in 2021. It is expected to grow to USD 23,015 million by 2030, registering a CAGR of 2.9% during the forecast.

Automotive will account for the largest sub-segmental growth, with a value of USD 9,724 million in 2021. It is expected to grow to USD 12,396 million in 2030, with a CAGR of 3.3% during the forecast. Factors such as the integration of polyamide in manufacturing hydraulic clutch lines, headlamp bezels, automotive cooling systems, air intake manifolds, and airbag containers will add to the market value of the global polyamide market share. Additionally, factors such as excellent mechanical properties, wear resistance, and the increasing need for lightweight vehicles will further propel the market’s growth.

polyamide 66

Due to PA 66's improved characteristics over PA 6, thermally and mechanically stressed moldings are increasingly using it. It is suitable for high-temperature applications due to its shorter and stronger bond, which gives it a denser and tighter structure. As a result, it can be used to create tire ropes, radiator covers, and friction bearings.

bio-based Polyamide

Due to growing environmental concerns brought on by the consumption of polyamides derived from fossil fuels, bio-based polyamides are becoming more popular. Their use has increased in many applications, including cable jackets, carpets, tires, sporting goods, and flexible oil and gas hoses, thanks to their superior chemical resistance, reduced moisture absorption rate, and more substantial impact strength than their conventional equivalents.

Market Size By Product

Market Size By Product
  • Polyamide 6
  • Polyamide 66
  • Bio-based Polyamide
  • Specialty Polyamide
  • Recent Developments

    • In January 2022, Domo Chemicals, the leading supplier in the European polyamide market, opened up access to its TECHNYL-branded products to customers globally.
    • In December 2022, The Polyol and Polyurethane Systems (PU) facility, owned by BASF in Nansha, China, earned ISCC+ certification. Using the mass balance certification, BASF can provide certified low-carbon mass balance PU solutions to customers with comparable product performance.
    • In December 2022, UBE finished buying all of API Corporation's shares.
    • In September 2022, OMLONTI® (Omidenepag Isopropyl Ophthalmic Solution) 0.002% by Santen and UBE was given FDA approval for lowering elevated intraocular pressure in those with primary open-angle glaucoma or ocular hypertension

    Top Key Players

    Polyamide Market Share of Key Players

    Polyamide Market Share of Key Players
    BASF SE AdvanSix Inc. Ube Industries Ltd Domo Chemicals Toray Industries Inc. Ashley Polymers Inc. Ascend Performance Materials Toyobo Co Ltd Lanxess AG Huntsman Corporation Goodfellow Group Others

    Frequently Asked Questions (FAQs)

    What is the growth rate for the Polyamide Market?
    Polyamide Market size will grow at approx. CAGR of 3% during the forecast period.
    Some of the top industry players in Polyamide Market are, BASF SE, AdvanSix Inc., Ube Industries Ltd, Domo Chemicals, Toray Industries Inc., Ashley Polymers Inc., Ascend Performance Materials, Toyobo Co Ltd, Lanxess AG, Huntsman Corporation, Goodfellow Group, etc.
    In the market, Asia Pacific has established itself as the market leader with a significant market share.
    The Europe region has experienced the highest growth rate in the market.
    The global market report is segmented as follows: By Product, By Application


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