The Global Polyamides Market was valued at USD XX billion in 2015 and is projected to reach USD XX billion by 2020, at a CAGR of XX% during the forecast period from 2015 to 2020. Polyamide 6, Polyamide 66 and caprolactam are the most important types of resins found globally.
Polyamide 6 and Polyamide 66 together accounted for more than 90% of the Global Polyamides Market. Consumption of Polyamide 6 is estimated to grow at about 7.5% while consumption of Polyamide 66 at a rate of 6% per year.
Polyamide 6 fibres are added with silica sand and minerals to improve the strength and temperature resistivity of glass fibres. China is the worlds largest producer of Polyamide 6, representing 32% of the total world production capacity and it is expected to grow at a 19.7% rate from 2015 to 2020. Overall growth in Polyamide 6 is driven by China’s increasing demand and its desire to be more self-sufficient.
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Polyamide 66 fibre offers stability at high temperatures and against chemicals. The United States is the worlds largest producer of Polyamide 66 fibres, accounting for 41% of the total world capacity. Total world capacity for Polyamide 66 is expected to increase by 10% from the capacity level in 2012.
The demand for Caprolactam was around 4,280 kilo tons in 2015 with Europe being the emerging consumer and is expected to grow in demand with a CAGR of about 7.18 % during (2017 – 2022). Kevlar is widely used in the manufacture of bulletproof vest, composites for boat construction, lightweight mountaineering ropes, and lightweight skis and rackets, owing to its properties of being a lightweight and a very strong material.
The Global Polyamides market, on the basis of end-user industry can be broadly segmented into Automotive, Electrical and Electronics, Aerospace and Defense, Packaging and Storage, Extrusion and Textile. Automotive segment is expected to be the fastest growing segment in the market, owing to increasing usage of light weight vehicles and development and manufacturing of electric vehicles.
Expansion in automotive sector along with introduction of light weight vehicles is the key driving force for rising popularity of Polyamide 6 and Polyamide 66 fibres. Usage in automotive sector accounts for nearly 39% of global Polyamides consumption in 2015. Demand for Polyamides in this area is expected to grow at an average annual rate of 4.8% during 20152020.
Application of Polyamides in electrical and electronic sector account for about 15% of the global demand for Polyamides. The average annual growth rate for Polyamide resin consumption in electrical and electronic applications is forecast to be about 6.8% during 20152020. Consumption of Polyamide 6 will grow at about 7.5% while consumption of Polyamide 66 will grow at 6.1% per year.
The appliances market for Polyamides is fairly large and is growing. These applications account for about 8% of the global demand for Polyamides. The average annual consumption growth rate for Polyamides in appliances is about 6.7% during 2015-2020.
Total global consumption of these Polyamides is expected to increase at an average annual rate of 4.4%. Good growth is projected in major markets such as automotive parts, electrical/electronics and appliances, and consumer products.
Some of the major companies dominating this market for its products, services, and continuous product developments are BASF, DuPont, Solvay, DSM, Aquafil USA, National Plastics & Seals, Inc., Polymer Technology & Services, LLC, AMETEK, etc.
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The market has also been geographically segmented into Asia-Pacific, North America, Europe, South America, and Middle-East & Africa. In terms of consumption in 2015, APAC led the market with a share of XX.XX%. It was followed by North America and Europe. Due to rising population and the improvement in the financial status of the consumers, the purchasing power of the middle class consumers has increased, which in turn is increasing the demand for automobiles and textiles in the Asia-Pacific region, in turn making the region an area of immense potential and opportunities. However, the volatility in the raw material prices in the region has considerably hindered the growth of this market.
Furthermore, the increasing usage of Bio-based Polyamides and escalating demand for fuel efficient and lightweight vehicles across the world will offer numerous opportunities in the growth of the Global Polyamides Market.
Key Deliverables in the Study
- Market analysis for the Global Polyamides Market, with region specific assessments and competition analysis on global and regional scales
- Market definition along with the identification of key drivers and restraints
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
- Extensively researched competitive landscape section with profiles of major companies along with their market shares
- Identification and analysis of the macro and micro factors that affect the Global Polyamidess market on both global and regional scales
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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