Polyamide Market Analysis By Type (Polyamide 6 Market, Polyamide 66 Market Bio-based Polyamide Market & Specialty Polyamides Market) By Application (Engineering Plastics & Fiber) By Region – Global Market Insights 2022 to 2032
Polyamide Market Outlook (2022-2032)
Worldwide consumption of polyamides is projected to increase at a steady CAGR of 3.6% from 2022 to 2032. The global polyamide market is anticipated to reach a valuation of US$ 42.29 billion by the end of 2032 from its current size of US$ 29.71 billion.
Rising demand for lightweight vehicles to enhance fuel efficiency has resulted in a substantial increase in the demand for polyamides in the automotive industry, which is expected to be a prominent market driver across the forecast period. Sales of bio-based polyamides are expected to witness an increase owing to the rising sustainability trends across the world.
Polyamide Market Size (2022)
US$ 29.71 Billion
Predicted Market Value (2032F)
US$ 42.29 Billion
Forecasted CAGR (2022-2032)
North America Polyamide Market Share (2022)
Japan Market Growth Rate (2022-2032)
Fiber Application Market Share (2022)
Key Companies Profiled
Increasing investments in the R&D sector are expected to drive demand for specialty polyamides over the coming years. Polyamide plastics and polyamide resins are also anticipated to witness an increase in their scope of application across various industry verticals going forward.
This polyamide market analysis projects demand for polyamides to rise at a CAGR of 4% in Europe. Germany and the United Kingdom are anticipated to be lucrative markets in the region and reach US$ 2.19 billion and US$ 1.82 billion, respectively, by 2032.
Increasing industrial activity in Europe and the establishment of new industries are expected to be prominent factors driving polyamide consumption in the region. The automotive industry is expected to have a huge influence on the demand for polyamides in Europe.
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Polyamide Consumption Analysis (2017-2021) in Comparison to Market Growth Forecasts (2022-2032)
Polyamides have witnessed a substantial increase in demand in automobile, electronics and construction industry verticals. Their low cost of production for highly preferred characteristics is a major factor that is expected to boost their use in several applications.
Demand for polyamides rose at a CAGR of 2.7% from 2017 to 2021 and accounted for a net value of US$ 28.98 billion in 2021.
Increasing investments in research and development of bio-polyamides and specialty polyamides owing to the rising focus on sustainability are expected to have a positive influence on overall polyamide market growth through 2032. Increasing use of polyamides in the automotive industry is also expected to favor market potential over the years to come.
Rising polyamide usage in coatings and electronics manufacturing is also expected to drive polyamide market growth across the forecast period.
Government mandates to regulate sustainability are expected to have a constraining effect on the global polyamide market growth over the coming years. This could drive demand for bio-based polyamides as they gain preference over synthetic polyamides which will be banned by governments across the world.
This new polyamide market report by Fact.MR, a market research and competitive intelligence provider, will allow you to gauge the market in complete detail and provides more detailed insights into polyamide market trends on a regional and global level.
Worldwide shipments of polyamides are projected to increase at a CAGR of 3.6% from 2022 to 2032.
How are Sales of Polyamides Being Positively Driven?
“Increasing Demand for Lightweight Automobiles”
Sales of vehicles have risen over the past few years and since the emergence of electric vehicles, the world witnessed a prominent rise in demand for lightweight vehicles. In order to create lightweight vehicles, automobile manufacturers started using synthetic materials instead of heavy metals to reduce weight without compromising structural integrity.
Polyamides have been a popular choice among automotive manufacturers as they have high durability and wear resistance which are desired properties for the construction of vehicles. Sales of polyamide resins, specialty polyamides, and polyamide plastics are anticipated to be driven majorly by increasing demand in the automotive industry over the forecast period.
“Low Cost of Production & High Use in Electronics”
Polyamides are produced at a low cost and this makes them a desirable choice for various applications. Polyamides also possess high temperature and chemical resistance and this is expected to favor their use in the electronics industry.
The easy integration of polyamides in electronic components and their compact nature make them a highly preferred material in the electronics industry and this is expected to drive polyamide consumption through 2032 as demand for electronic components and devices increases.
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What Could Negatively Affect Polyamide Market Growth Potential?
“Stringent Regulatory Norms by Governments to Conserve Environment”
The focus on sustainability and environment conservation has increased prominently over the past few years and is anticipated to rise further over the coming years. Governments across the world are implementing strict regulations to conserve the environment and reduce the harmful impact on the environment to avoid further deterioration.
Artificial polyamides are usually not compliant with these norms as they comprise harmful chemicals or toxins added while manufacturing. Hence, the demand for polyamides is expected to plummet owing to the rising focus on sustainability on a global scale.
Which Regions Account for High Generation in the Market?
“North America and Europe to Lead Market Growth Opportunities”
The polyamide market in North America holds a dominant market share of 32.9% in the global industry landscape at present and is expected to maintain this stance through the end of the forecast period while accounting for US$ 13.77 billion by 2032.
High investments in research and development of polyamides in this region are anticipated to significantly drive polyamide consumption in this region. The high production capacities of facilities in this region will also play a crucial role in shaping the polyamide market potential in North America through 2032.
Polyamide shipments are predicted to rise in demand at a CAGR of 4% throughout the forecast period in Europe. This region in 2022 accounts for a net value of US$ 7.35 billion. Rising demand from automotive and electronics industries in this region is expected to propel polyamide sales over the coming years in Europe.
The Asia Pacific polyamide market is anticipated to be highly opportunistic owing to the rising use of polyamides in developing nations where construction activities are on the rise.
The polyamide market in the APAC region accounts for a net value of US$ 8.65 billion in 2022 and is anticipated to attain an estimated revenue total of US$ 12.43 billion by the end of 2032 while expanding at a CAGR of 3.7%.
Moreover, the low cost of production in this region is expected to boost the production of the already cheap to produce polyamides. Supportive government initiatives are also projected to supplement polyamide market growth through 2032. China, Japan, India, and South Korea are expected to lead the demand outlook in this region.
Slowest growth in demand for polyamides is expected to be recorded in the MEA region. The polyamide market in MEA currently stands at a net value of US$ 1.67 billion and is projected to attain an estimated revenue total of US$ 2.15 billion by 2032 while expanding at a CAGR of 2.5% which is the lowest of all regions studied in this research report.
The South Africa polyamide market is expected to be a lucrative one in the MEA region and is predicted to exhibit expansion at a CAGR of 3.1% through 2032 and currently stands at a net value of US$ 254.6 million.
Should Polyamide Manufacturers Invest in China?
“Presence of Huge Automotive Manufacturing Industry to Provide Robust Opportunities”
China is known for its highly lucrative automotive manufacturing industry across the world and is one of the most important markets in the world. Demand for polyamides in China is expected to be majorly driven by the automotive manufacturing industry. Rising construction activities in the country are also expected to favor polyamide market potential through 2032.
Rising demand for electronics and electronic components is also expected to favor polyamide sales in the country.
China polyamide market stands at a net value of US$ 3.89 billion in 2022 and is predicted to expand at a CAGR of 3.5% throughout the forecast period.
What Makes India an Attractive Market for Polyamide Suppliers?
“Developing Nature of Economy to Offer Bright Growth Outlook”
The Indian economy has been known as one of the most promising ones on a global level. The government in the country has been focusing on advancing development activities by launching supportive initiatives to boost infrastructure development and industrialization which are subsequently expected to drive the consumption of polyamides in India.
Polyamide vendors can focus on this country and boost their overall revenue generation capacity by capitalizing on the opportunities India has to offer.
Sales of polyamides are anticipated to rise at a CAGR of 4.5% from 2022 to 2032 and are estimated to account for a revenue total of US$ 1.6 billion by 2032.
What Potential Opportunities Does Germany Have for Polyamide Manufacturers?
“Presence of Key Automotive Manufacturers in the Country”
Germany is home to some of the most prominent automotive brands in the world such as Mercedes, BMW, Audi, etc. As vehicle manufacturers opt for alternative materials to make vehicles lighter, the demand for polyamides is expected to increase as it has emerged as a popular choice among vehicle manufacturers due to their high mechanical strength and low cost of production.
The automotive industry in Germany is expected to majorly drive the polyamide market across the forecast period. Consumption of polyamides accounts for a net revenue total of US$ 1.34 billion in 2022 and is projected to increase at a CAGR of 5.1% through 2032.
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Which Type of Polyamide Accounts for Highest Demand across the World?
“Sales of Polyamide 6 to Remain Most Prominent & Rewarding”
Polyamide 6 is one of the most popular artificial polyamides used across the world. Its wide use can be attributed to its characteristic properties of high wear resistance, excellent mechanical strength, and high chemical resistance. This segment accounts for a dominant market share of 43.6% in the global polyamide marketplace at present. Revenues from this polyamide 6 market are anticipated to attain an approximate valuation of US$ 19.5 billion by the end of 2032.
Based on type, the polyamide market is segmented into polyamide 6, polyamide 66, bio-based & specialty polyamides. The specialty polyamides market and bio-based polyamides market are expected to cumulatively expand at a CAGR of 2.9% through 2032. Sales of PA 66 are predicted to rake in sales revenue total of US$ 13.08 billion and currently account for a significant market share of 31.8%.
How are Sales of Polyamide Fiber Expected to Shape Up?
“Polyamide Fiber Sales to Drive Substantial Market Revenue”
Revenue from sales of polyamide fiber is anticipated to account for a net value of US$ 28.87 billion by 2032. The fiber segment currently holds a market share of 68.9% of the global polyamide industry landscape in 2022. Rising demand for polyamide fiber in several industry verticals is expected to drive growth in this segment.
On the other hand, the engineering plastics segment is projected to rise at a CAGR of 3.8% through 2032 and is estimated to account for a revenue total of US$ 13.41 billion by the end of the forecast period. Increasing demand for plastic components with better mechanical characteristics is expected to bolster growth in this segment over the coming years.
Polyamide manufacturers can employ various strategies to enhance their market presence across the world. The polyamide market is partially fragmented and provides enough opportunities for new entrants as well as established market players.
Polyamide suppliers are expected to expand their production capacity to meet increasing demand from various industry verticals.
Key Segments Covered in Polyamide Industry Research
Polyamide Market by Type :
- Polyamide 6 Market
- Polyamide 66 Market
- Bio-based Polyamide Market & Specialty Polyamides Market
Polyamide Market by Application :
- Engineering Plastics
Polyamide Market by Region :
- North America
- Latin America
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