Polyamide Market Size to Reach USD 62.10 Billion in 2030 | Reports And Data
The polyamide market size is expected to reach USD 62.10 Billion in 2030 and register a revenue CAGR of 6.2% over the forecast period, according to the latest report by Reports and Data. Rapid market revenue growth of polyamide is due to various factors, such as increasing investments and R&D in bio-based & specialty polyamides and an increase in disposable income.
Polyamide is used in manufacturing of automobile components such as hydraulic clutch lines, headlamp bezels, automotive cooling systems, air intake manifold, and airbag containers. Automobile air intake manifolds are made of nylon which substitutes metals hence helping in reduction of production costs by 30%, reducing the weight by 50%, cutting system costs through parts integration, and contributing to better fuel efficiency. Engine covers are also produced using nylon because it allows thinner-walled designs. For a car’s powertrain, manufacturers are promoting plastic chain tensioner guides made of PA 46 as it offers better wear performance than high molecular weight PA 66 as well as enhances safety and reduces noise generation.
Emergence and rapid growth of electrically-powered road vehicles has become a key factor when assessing the automotive outlook and resulting polymer demand. Vehicle fleet electrification has gained significant momentum in recent years, supported by favorable regulatory policies, changing consumer perception, and development of a large number of affordable electric vehicle models by the auto industry. The government is focusing its attention on vehicle electrification by incentivizing companies that are manufacturing electric vehicles, framing policies to promote electric vehicles, and allocating budgets for infrastructure development, thus causing a rise in demand for automobiles. Polyamide is also deployed in exterior automotive parts such as doors, tailgate handles, exterior mirrors, front-end grilles, and wheel covers & trim. As the market penetration of electric vehicles increases, demand for polyamide materials would rise which is expected to drive market revenue growth.
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Companies considered and profiled in this market study
BASF SE, Honeywell International Inc., Koch Industries, Huntsman Corp., Du Pont, DSM N.V., Lanxess AG, Evonik Industries AG, Solvay AG, and RadiciGroup, among others.
For the purpose of this report, Reports and Data have segmented the global polyamide market on the basis of product type, applications, end-user, and region:
Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- PA 6
- PA 66
- Bio-Based Polyamides
Applications Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Polyamide Fibers & Films
- Engineering Plastics
- Polyamide Adhesives
End User Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Electrical & Electronics
- Aerospace & Defense
- Films & Coatings
- Sports & Leisure
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Further key findings from the report suggest
- PA 6 held the largest market share in 2018 and is expected to maintain its market leadership with a growth rate of 4.4% in the forecast period attributed to the increasing demand from automotive, electrical and textile industries owing to the high tensile strength and also inhibit good elasticity and chemical resistance.
- Polyamide fibers & films dominated the market, with over 50% of the market share in 2018 and are expected to grow at a rate of 4.4% in the period 2019-2026.
- By end user, the Industrial sector is projected to witness a GAGR of 4.5% in the forecast period.
- The electrical and electronics segment generated a revenue of USD 3.65 Billion in 2017 and is expected to grow at a rate of 4.1% during the forecast period.
- The market in North America is expected to reach USD 7.01 Billion by 2026, with a growth rate of 3.9% over the forecast period.
- By country, China was the largest consumer of polyamides with over 35% of the share in 2018.
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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