Polyamide Market Overview and Introduction

The global polyamide market was valued at over US$ 25.0 Bn in 2018 and It is anticipated to grow at a CAGR of 4.1% from 2019 to 2030.

Polyamide (PA) commonly known as nylon is a polymer substance made-up of multiple and long molecules in which the units are linked by amide groups. It is one of the largest engineering thermoplastic material (ETP). Polyamide is used in various application segments, such as automobile, electronic, packaging, consumer goods, and films among others. Growth of polyamide market is mainly driven by, rise in demand from automobile industry, electronics and packaging applications segment. It is majorly used in these three applications. These three applications are likely to grow at a healthy rate. Eventually, polyamide will also have a promising future. Furthermore, shift in trend towards the production of bio-based polyamide and growing R&D initiative in the field is projected to offer immense opportunities for the market players. However, stringent government guidelines are likely to act as barrier in growth of the market in Europe and North America regions. Rising production of bio-based polyamide is projected to off-set this challenge.

Polyamide Market by Types

The polyamide market is segregated as polyamide 6, polyamide 66 and bio-based & specialty polyamide. The bio-based & specialty polyamide is further sub-segmented as polyamide 11, polyamide 12, polyamide 46, polyamide 6/10, polyamide 6/12, Ppa (Polyphthalamide) and others. In 2018, polyamide 6 accounted for the largest share of the overall market. The growth of polyamide 6 market is driven by rising demand from automobile, electronics and food applications. Moreover, bio-based & specialty polyamide segment is anticipated to be the fastest growing segment during the forecast period. Supportive government regulations, rise in health awareness and fluctuating prices of raw materials are factors spurring the market growth for this segment.

Polyamide Market by Application

The polyamide market is segregated as engineering plastics and fiber. Engineering plastics is further sub-segmented into automotive, industrial/machinery, electrical & electronics, consumer goods & appliances, packaging/film and others. Fiber is further sub-segmented into textile, industrial, carpet and staple. In 2018, engineering plastics segment dominated the market. Engineering plastics are majorly used in automobiles, electrical & electronics, consumer goods and packaging/film applications. As these end use industries is witnessing growth. The demand for engineering plastics will in turn witness high growth in coming years.

Polyamide Market by Regions

Asia Pacific accounted for the largest share of the market in 2018 and projected to retain its position over the forecast period. This growth is driven by rising demand for polyamide from varied applications. China is the major contributor towards the growth of Asia Pacific polyamide market. North America is projected to witness healthy growth over the forecast period of 2019-2030. The market is projected to witness growth owing to rise in demand for polyamide from automobiles and electronics applications.

Polyamide Market Prominent Players

R&D in the field of bio-based polyamide production is the major strategy adopted by the market players. Similarly, manufacturers are investing heavily in these R&D activities. Honeywell International Inc., Formosa Group, Du Pont de Nemours and Company, BASF SE, and Li Peng Enterprise Co. are some of the leading players present in this market. Other prominent players in this market are Royal DSM N.V., Solvay SA, Arkema SA H, Lanxess AG and Asahi Kasei Corporation.