Polyamides Market Analysis

Global Polyamides Market Overview

Polyamide Market Size was valued at USD 23.07 Billon in 2023 and is projected to grow from USD USD 25.03 Billion in 2024 to USD 47.15 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.24% during the forecast period (2024 - 2032). Polyamide is a polymer that contains recurring amide groups (R―CO―NH―R′) as integral parts of the main polymer chain. Synthetic polyamides are produced by a condensation reaction between dicarboxylic acid and diamine. The different types of polyamides include specialty and bio-based polyamides. Caprolactum, hexamethylene diamine, and adipic acid are among the key monomers used in polyamide production. Polyamide is a versatile material used in a variety of applications such as textiles, automotive components, and numerous industrial products. It exhibits high durability, strength, and resistance to wear and tear, thereby making it suitable for a wide range of applications across various sectors.

The key factor driving the growth of the global polyamide market is the excellent properties of polyamide that make it suitable for a wide array of applications in various industries. Polyamide is significant in the automobile industry as it is used for producing a variety of automobile components. The expanding automobile industry with the significantly growing demand for electric vehicles is creating the need for lightweight and high-performance materials such as polyamide for improving the efficiency of automobiles. This factor is contributing substantially to driving the market demand for polyamides. Furthermore, polyamide is extensively used in various types of consumer goods owing to its excellent durability, strength, and versatility. The increasing urbanization and growing consumer demands for these products is boosting the demand for polyamide considerably.

"Polyamide is an important and innovative material that can meet the diverse needs of various industries. Polyamide can help reduce weight, improve performance, and enhance aesthetics of products, such as automobiles, electronic devices, textiles, and packaging materials. Polyamide can also contribute to a more sustainable and circular economy, by using renewable and biodegradable sources, such as biomass, ethanol, and waste. Polyamide is the material of choice for the future, as it offers superior quality, functionality, and environmental benefits. The global polyamide market is expected to grow at a faster pace as the world is shifting towards bio-based materials."

Polyamides Market Trends

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  HIGH DEMAND FOR POLYAMIDES IN THE AUTOMOTIVE INDUSTRY

  
  

Polyamide has applications in a broad range of industries, including textile, automotive, electrical & electronics, medical, and packaging, among others. The automotive industry is one of the key end users of polyamide, wherein it is widely used in applications such as engine compartments (inlet pipe and intake manifold, charge air end caps, charge air pipes, cylinder head cover, oil filter housings, and oil sensors), radiator systems, fuel supply systems (fuel filter housings, quick-action couplings, and fuel lines), suspension (transmission crossbeam, engine bracket, bodywork, and add-on parts), interior components (pedals and pedal brackets, speaker grilles, and door handle), exterior components (structural parts, exterior door handles, mirror base, crash absorbers, and wheel covers), and electrical systems (cable harnesses, lamp holders, fuse boxes, straps and connectors, contact and brush holders, actuators and actuating drives, and cable ducts).

The automotive industry is at the forefront of adopting new materials and technologies to reduce costs and improve performance. The use of plastics in the production of automobile parts has been steadily growing worldwide in the past few years. Plastics have good performance characteristics, are relatively inexpensive and lightweight, and easy to manufacture. The high quality and safety standards in modern automotive engineering are boosting the demand for high-performance materials. Polyamides offer high thermal stability, impact resistance, dynamic strength, and long-term performance.

The automotive industry is widely incorporating the use of micro-electronics in sensitive automotive applications, such as transmission control units and sensors and safety-related applications, such as airbag and anti-lock systems. These electronic assemblies are becoming ever more compact and complex and are also often exposed to high ambient temperatures and aggressive media, primarily oil. In addition, dual-clutch transmissions and automated gearboxes are becoming increasingly popular in modern vehicles. The delicate circuits are more frequently connected to semiconductors via thin wires, which is known as wire bonding. In such surroundings, disruptive effects such as corrosion, electrolyte formation, ion migration, and creep currents may arise and, in extreme conditions, may cause the failure of entire assemblies. Plastics for housings and components need to be equipped in such a way that they do not react with the metals involved and thus prevent electronic failure, in such case polyamides are preferred significantly.

GROWING TEXTILE INDUSTRY IN ASIA-PACIFIC

The textile industry plays a vital role in Asian economics and is expected to continue to be one of the leading industries in the region in the next few years. Textile manufacturing is characterized as a labor-intensive process and is closely linked to the agricultural sector due to the dependence on key raw materials, such as cotton and jute. India and China are the significant producers of cotton in the world, which is widely used in the production of textiles. Additionally, textile manufacturers are shifting their production bases to Asian countries due to the availability of skilled and low-cost labor, favorable macroeconomic conditions, and abundant availability of raw materials, which is favoring the growth of the textile industry in the region.

Nylon is a lustrous fiber and can be modified by adding a delustering agent at the molten stage. Nylon has good tenacity and high strength to weight ratio. It is one of the lightest textile fibers which possess high strength. Moreover, it has good elasticity, which makes it suitable for apparel applications. The excellent elasticity of nylon fabrics helps apparel retain their shape and appearance after washing. Furthermore, nylon can be easily dyed with a wide range of dyes and has good resistance to fading. Furthermore, nylon fiber’s high tensile strength and abrasion resistance has increased its applications in the automotive industry for making components such as belting, airbags, hoses, and tire cord, among others.

Moreover, the increasing demand for nylon fibers in the production of technical textiles is further expected to favor the growth of the market in Asia-Pacific. In the textile industry, technical textile is one of the fastest-growing business segments. China, Japan, India, Thailand, and South Korea are some of the major producers of industrial textiles in Asia-Pacific. The automotive industry is the key consumer of industrial textiles and a variety of textile‐reinforced flexible and hard composites as they have a broad range of applications, including airbags, upholstery and seating, floor covering, trunk liners, thermal and sound insulators. In addition, the high demand for technical textiles in medical and healthcare applications is further expected to propel the technical textile market in the years to follow.

The Indian textile industry is one of the major contributors to the growth of the textile industry in Asia-Pacific, owing to the strong multi-fiber base due to substantial availability of cotton, silk, jute, and wool, high investments, rising per capita disposable income of individuals, and initiatives by the government. The Government of India has launched several programs for textile industry such as investment promotion, creation of infrastructure, subsidies, and stimulating consumption, such as the scheme for growth and development of technical textiles (SGDTT), scheme for promoting the usage of Agro-textiles in the north east, technology mission on technical textiles (TMTT), scheme for promoting the usage of geotechnical textiles in the north east, technology up-gradation funds scheme (TUFS), and scheme for integrated textile parks (SITP). Thus, the growing textile industry in Asia-Pacific is expected to drive the growth of the polyamide market during the forecast period.

GROWING POPULARITY AND DEVELOPMENT OF BIO-BASED POLYAMIDES

Polyamides, widely used in automobiles, electronic appliances, and items of clothing, are mainly derived from crude oil. In recent years, the use of “green” alternatives to these plastics has gained popularity. Various global players operating in the global polyamide market have taken steps to contribute to the development of bio-polyamides such as BASF SE, and Arkema Group. To address the growing consumer demand for sustainable and more circular products, the manufacturers are increasingly integrating bio-based materials into their portfolio.

The development of biobased polyamides is accelerated by the recent progress in refining biobased building blocks. Polyamides 6 and 6,6 are representative petroleum-derived polyamides that are widely used for many general and engineering applications. Thus, offering the properties of biobased polyamides like those of polyamides 6 and 6,6 is one of the development strategies of the key players.

For instance, in August 2022, DSM launched the bio-based polyamide product named StanylB-MB in the market. The production of Stanyl B-MB is expected to generate a carbon footprint up to 50% lower than the fossil-based product. Moreover, in July 2023, Solvay launched the sustainable nylon 6,6 made from 100% recycled content and this product has achieved SCS recycled content certification.

In March 2019, Arkema announced the construction of its new world-scale plant in Singapore, dedicated to the production of its amino 11 monomer and the Rilsan polyamide 11 resins. Rilsan polyamide 11 is derived from castor oil and is 100% bio-sourced polyamide approved for many of the most demanding applications, including electronics, oil and gas extraction, 3D printing, and automotive industries, as a substitute to metal. Demand for bio-polyamides has increased in the past few years, and this trend is expected to continue throughout the forecast period.

Polyamides Market Segment Insights

Polyamides Market by Type Insights

The Polyamides Market has been categorized based on type into Bio Polyamides, Specialty Polyamides. In 2022, the Bio Polyamides segment drove the Polyamides Market by holding a substantial market share of significant value with a market value of USD significant value. It is projected to register a CAGR of modearte during the projected timeframe.

Bio-based polyamides are produced from renewable raw materials which provide an environmentally friendly alternative to conventional petroleum-based polyamides. Bio-based polyamides exhibit ideal properties such as high mechanical resistance, high crystallization rates, low water uptake, and high melting points. High precision bio-polyamides offer sustainable solutions using bio-based polymer which are derived from plants-based materials. Castor oil is the main source of most of the bio-based monomers for polyamides which make up 40-60% of caster beans. During the production process bio-polyamides reduces CO consumption by 62% and fossil fuels consumption by up to 23%. Durable bio thermoplastics, such as Bio-PAs, based on renewable energy sources have high growth potential in future as that show promising mechanical and thermal properties. Companies across the globe are investing more and more in the production of bio-based polyamides. For instance, Evonik’s, which is a global manufacturer of chemicals launched the world’s first PA12 powder for 3D printing, which is based on bio-circular raw materials.

Alternatively, specialty polyamides exhibit extreme abrasion resistance, extreme toughness, and outstanding resistance (especially at cold temperatures). Specialty polyamides are used in various applications including sports shoes, equipment, apparel, breathable films, home appliances, medical devices & catheters, wearable devices, optic, eyewear, wire & cables, air brake tubing (truck), alternative fuel systems, connectors, fittings & injection molded components, electrical & electronic components, vehicle emission control systems, vehicle fluid management, metal coating, fuel management systems, roto molding solutions, general tubing & hose solutions.

Polyamides Market by Class Insights

The Polyamides Market has been categorized based on class into Aliphatic Polyamides (PA 4,6, PA 6,6, PA 6, PA 6,10, PA 6,9, PA 11, Others), Semi-Aromatic & Aromatic Polyamides (PA 6T, PA 6I, Poly (p-phenylene terephthalamide), Others). In 2022, the Aliphatic Polyamides segment drove the Polyamides Market by holding a substantial market share of X.X% with a market value of USD XX.XX million. It is projected to register a CAGR of X.X% during the projected timeframe.

Aliphatic polyamides (Nylon class) are considered as high-performance plastics. These polyamides contain high electrical and temperature resistance. Also, aliphatic polyamides are highly flexible, which allows them to be used in a wide range of applications in automotive, transportation, consumer goods, and E&E industry. Two of the most common nylons are Nylon 6/6 and Nylon 64. They are polymerized from monomers such as caprolactam and hexamethylenediamine. All polyamides tend to absorb moisture due to the amide chemical group. The moisture acts as a plasticizer, reducing tensile modulus and increasing impact resistance & flexibility.

Polyamides Market by Application Insights

Based on application, the Polyamides market has been segmented into Fibers, Wire & Cables, 3D Printing, Sports Equipment, Engine Components, Brakes & Transmission Parts, Household Goods & Appliances, Others. In 2022, the 3D Printing segment drove the Polyamides Market by holding a substantial market share of significant value with a market value of USD significant value. It is projected to register a CAGR of moderate during the projected timeframe.

Fused Deposition Modeling (FDM) is a widely accessible and cost-effective 3D printing method that utilizes filaments of thermoplastic materials. Polyamide filaments are available in various grades, each with its own set of properties. For instance, PA6 and PA12 are commonly used polyamide filaments known for their strength, flexibility, and chemical resistance. These filaments are often used to produce functional parts, prototypes, and tooling. PBF processes, such as selective laser sintering (SLS) and multi jet fusion (MJF), utilize fine polyamide powders to create 3D objects. SLS involves selectively sintering layers of polyamide powder using a laser, while MJF employs a binder and fusing agent to selectively solidify layers of polyamide powder. PBF-produced polyamide parts typically exhibit higher strength and dimensional accuracy compared to FDM-printed counterparts.

Polyamides Market by End Users Insights

Based on end users, the Polyamides market has been segmented into Automotive, Electrical & Electronics, Textile, Aerospace & Defense, Packaging, Consumer Goods, and Others. In 2022, the Automotive segment drove the Polyamides Market by holding a substantial market share of X.X% with a market value of USD XX.XX million. It is projected to register a CAGR of X.X% during the projected timeframe.

The increasing demand for EVs is driving the growth of polyamide in the e-mobility market. Electric vehicles (EVs) are at the forefront of this revolution, offering a cleaner and more efficient alternative to traditional gasoline-powered vehicles. Polyamide, a versatile and high-performance engineering plastic, is playing a crucial role in the development and manufacturing of EVs, making it an essential material for the future of e-mobility. Polyamides are extensively used in engineered plastics, such as polyamide 6 (PA6) and polyamide 6,6 (PA6,6), to manufacture various structural components such as housings, brackets, and gears. These engineered plastics offer superior mechanical properties, enabling them to withstand the high stresses and vibrations encountered in EV powertrains. Polyamides are widely used in fluid management systems, including fuel lines, coolant hoses, and brake lines, due to their chemical resistance and ability to withstand extreme temperatures and pressures. As e-mobility continues to gain momentum, polyamides are expected to play an increasingly important role in EV design and manufacturing. Their versatility, performance, and lightweight properties make them ideal for meeting the stringent requirements of next-generation EVs.

Polyamides Market Regional Insights

By region, the global market is segmented into North America, Europe, Latin America, Africa, and Rest of the World. Among these, Asia Pacific emerged as the leading and the fastest-growing segment with a CAGR of moderate. The segment is projected to reach a value of USD XX.XX million by the end of the forecast period. The North America region accounted for the second-largest growing segment with a healthy CAGR of moderate.

Asia-Pacific shows a huge potential for the growth of the polyamide market due to the high growth of the automotive and electronics industries in the region. The growth of these industries in the region can be attributed to the increasing number of young populations and the high per capita disposable incomes compared to the previous decade. The increase in the number of manufacturers for polyamide in China is one of the primary reasons for the exponential growth of the market in the region. China holds a share of over 45% in Asia-Pacific, which is the highest share compared to any other country across the globe.

Polyamides Key Market Players & Competitive Insights

The global polyamide market is characterized by a high level of competition, with many players emerging for market share. The top 10 companies in the market account for a significant market share of global polyamide production. These companies are spread across different regions, with a strong presence in Asia, Europe, North America, and other emerging markets. The competitive landscape of the polyamide market is dynamic, with companies constantly innovating and expanding their product offerings. This has led to a proliferation of different polyamide grades and formulations, each with its own unique properties and applications. This has also made it difficult for companies to differentiate themselves from the competition.

Despite the challenges, there are several factors that are driving growth in the global polyamide market. These include increasing demand from the automotive and electronics industries, as well as growing awareness of the environmental benefits of polyamide. The market is also benefiting from the development of new technologies, such as nanotechnology and 3D printing. The key players in the global polyamide market include EMS-CHEMIE HOLDING AG, ASCEND PERFORMANCE MATERIALS, BASF SE, DUPONT, Huntsman International LLC, Lanxess, DSM, Solvay, EVONIK INDUSTRIES AG, and Arkema.

These companies are investing heavily in research and development, as well as in expanding their production capacity. Companies are also focusing on developing new and innovative products that meet the specific needs of their customers. The competitive landscape of the global polyamide market is expected to remain intense in the coming years. Companies will need to continue to innovate and expand their product offerings to remain competitive.

Key Companies in the Polyamides Market includes:

• EMS-CHEMIE HOLDING AG


• ASCEND PERFORMANCE MATERIALS


• BASF SE


• DUPONT


• Huntsman International LLC


• Lanxess


• DSM


• Solvay


• EVONIK INDUSTRIES AG


• Arkema

Polyamides Industry Developments

August 2023: EMS-CHEMIE HOLDING AG announced that it invested CHF 300 million in capacity expansion at the main production site in Domat/Ems (Switzerland). This helped EMS to increase its production capacity and product innovation to meet increasing consumer demand across the globe.

June 2023: Ascend Performance Materials launched its HiDura® LUX amorphous nylon for packaging films in the Asian market at ProPak China 2023. This innovative material offers enhanced thermoforming capabilities, improved orientation for optimized shrink performance, and superior optical properties, including higher gloss and lower haze.

June 2023: Ascend launched line of recycled circular polymers and materials Cerene™. Cerene is available as polyamide 6 and 66, PET, polypropylene, and calcium carbonate as a consistent, sustainable feedstock for many applications, including molding and compounding.

August 2020: BASF India completed its acquisition of BASF Performance Polyamides India. In this acquisition BASF India acquired 100% stake in BASF Performance Polyamides India Private Limited with aggregate consideration of Rs. 302.90 crore.

Polyamides Segmentation

Polyamides Type Outlook

• Bio Polyamides


• Specialty Polyamides

Polyamides Class Outlook

• Aliphatic Polyamides (Nylon Class)
  
  
  
  • PA 4,6
  
  
  • PA 6,6
  
  
  • PA 6
  
  
  • PA 6,10
  
  
  • PA 6,9
  
  
  • PA 11
  
  
  • Others
  
  
  
  


• Semi-Aromatic & Aromatic Polyamides (Nylon Class) (Kilotons)
  
  
  
  • PA 6T
  
  
  • PA 6I
  
  
  • Poly (p-phenylene terephthalamide)
  
  
  • Others
  
  
  
  

Polyamides Application Outlook

• Fibers


• Wire & Cables


• 3D Printing


• Sports Equipment


• Engine Components


• Brakes & Transmission Parts


• Household Goods & Appliances


• Others

Polyamides End Users Outlook

• Automotive


• Electrical & Electronics


• Textile


• Aerospace & Defense


• Packaging


• Consumer Goods


• Others

Polyamides Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • RoNA
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Russia
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Australia & New Zealand
  
  
  
  


• Rest of Asia-Pacific
  
  
  
  • Middle East & Africa
  
  
  • GCC Countries
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa
  
  
  
  


• Latin America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • mexico
  
  
  • Rest of Latin America