Polyamide Market

Polyamide Market Study by Polyamide 6, Polyamide 66, Bio-based Polyamides & Specialty Polyamides for Engineering Plastics and Fiber from 2024 to 2034

Analysis of Polyamide Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Polyamide Market Outlook (2024 to 2034)

The global polyamide market has been estimated at a value of US$ 31.8 billion in 2024 and is forecast to advance at a CAGR of 3.6% to reach US$ 45.2 billion by the end of 2034.

The growing sustainability trend across several industries is set to boost the consumption of bio-based polyamides. Increasing investments in research and development activities are expected to drive demand for specialty polyamides over the next ten years. Polyamide plastics and polyamide resins are also anticipated to witness an increase in their scope of application across various industrial verticals such as automotive, electronics, and textiles going forward.

Rising demand for lightweight vehicles to enhance fuel efficiency is leading to the growing consumption of polyamides in the automotive industry. Increasing industrial activities in Europe and Asia Pacific are expected to be prominent factors driving the polyamide consumption in these regions. The automotive industry is expected to have a huge influence on the demand for polyamides in Europe.

Demand for polyamides in the e-mobility, electronics, and construction sectors is increasing due to their low cost of production and highly preferred characteristics. Rising polyamide usage in coatings and electronics manufacturing is also expected to drive polyamide market growth during the forecast period.

  • North America is projected to account for 30.8% of the global polyamide market share by 2034.
  • The East Asia polyamide market size is calculated at US$ 7.8 billion in 2024.
Report Attribute Detail
Polyamide Market Size (2024E) US$ 31.8 Billion
Forecasted Market Value (2034F) US$ 45.2 Billion
Global Market Growth Rate (2024 to 2034) 3.6% CAGR
South Korea Market Value (2034F) US$ 1.9 Billion
Market Share of Bio-based Polyamide & Specialty Polyamide (2034F) 35.5%
Key Companies Profiled BASF SE; Honeywell International Inc.; Du Pont de Nemours and Company; Radici Group; Formosa Group; Invista; Li Peng Enterprise Co.; Ascend Performance Materials Inc.; Royal DSM N.V.; Solvay; Shenma Industrial Co. Ltd.; Lanxess; Rhodia; Huntsman; Koch Industries; Arkema.

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What is Driving Demand for Polyamides Worldwide?

“Focus on Manufacturing of Lightweight Automobiles”

Vehicle ownership is increasing at a rapid pace across the globe and since the emergence of electric vehicles, the world has witnessing a prominent rise in the demand for lightweight vehicles. To create lightweight vehicles, automobile manufacturers have started using synthetic and lightweight 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 their increasing demand in the automotive industry.

“Low Cost of Polyamides Driving Use in Electronics”

Polyamides are produced at a low cost, which makes them a desirable choice for various applications. Polyamides also possess high temperature and chemical resistance, which 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.

Which Challenges are Encountered by Polyamide Producers?

“Strict Environmental Regulations Implemented by Governments”

Focus on sustainability and environmental conservation is increasing 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.

“Availability of Alternatives Such as Polypropylene and Polyvinylidene Fluoride”

The presence of alternatives such as polypropylene and polyvinylidene fluoride (PVF) is hampering polyamide sales. polyvinylidene fluoride being a non-reactive thermoplastic is gaining demand from end-use industries such as automotive, textile, and aerospace. The availability of substitute is expected to lower the profits of polyamide suppliers.

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What Tactics Would Help New Companies Make a Mark in This Space?

“Invest in Development of Innovative Polyamides”

Introduction of bio-based polyamides is one of the notable polyamide market trends driving the revenue growth of the manufacturers. New companies should invest heavily in research and development activities to introduce innovative polyamides. The growing demand for high-quality clothing material is creating profitable opportunities for new companies.

Country-wise Analysis

What Makes the United States a Lucrative Market for Polyamide Suppliers?

“Infrastructure Development Activities to Offer Bright Growth Outlook for Polyamide Manufacturers”

Attribute United States
Market Value (2024E) US$ 7.4 Billion
Growth Rate (2024 to 2034) 3.5% CAGR
Projected Value (2034F) US$ 10.4 Billion

The United States economy is one of the most promising on a global level. The ongoing industrial activities and respective government investments in infrastructure development projects are set to boost the consumption of polyamides. Polyamide suppliers are anticipated to earn high-profits in the United States in the coming years.

Why are More Polyamide Companies Investing in China?

“High Vehicle Production and Demand in the Country”

Attribute China
Market Value (2024E) US$ 4.4 Billion
Growth Rate (2024 to 2034) 4.8% CAGR
Projected Value (2034F) US$ 7.1 Billion

China is known for its highly lucrative automotive manufacturing industry across the world and is one of the most important industrial hubs. Demand for polyamides in China is expected to be majorly driven by the automotive manufacturing sector. Rising construction activities in the country are also expected to favor polyamide sales.

What is the Demand Outlook for Polyamides in Germany?

“Innovations in Automobile Manufacturing Increasing Use of Polyamides”

Germany is home to some of the most prominent automotive brands in the world such as Mercedes, BMW, and Audi. As vehicle manufacturers opt for alternative materials to make vehicles lighter, the demand for polyamides is expected to increase as it is emerging as a popular choice among vehicle manufacturers due to their high mechanical strength and low cost of production.

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Category-wise Analysis

Which Type of Polyamide is Most Widely Demanded?

“High Wear Resistance and Excellent Mechanical Strength of Polyamide 6”

Attribute Polyamide 6
Segment Value (2024E) US$ 11.9 Billion
Growth Rate (2024 to 2034) 3.5% CAGR
Projected Value (2034F) US$ 16.9 Billion

Some of the types of polyamide are polyamide 6, polyamide 66, bio-based & specialty polyamides. 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.

Which Type of Polyamide is Expected to Lead Market Growth?

“Durable Polyamide Fiber to Hold Leading Market Share”

Attribute Polyamide Fiber
Segment Value (2024E) US$ 24.1 Billion
Growth Rate (2024 to 2034) 3.5% CAGR
Projected Value (2034F) US$ 33.8 Billion

Polyamide fiber is finding wide applications in the textile industry. Polyamide fiber’s superior durability and high crystalline structure are driving its sales growth. The first aromatic polyamide fiber was produced by DuPont as meta-aramid fiber for commercial applications, and then in the early 1960s, it was traded under the name of Nomex.

Competitive Landscape

Key players in the polyamide industry are employing various organic and inorganic 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. Prominent polyamide suppliers are employing expansion strategies to meet increasing demand from various industry verticals.

  • In 2022, BASF expanded its Ultramid® polyamide production unit to Gujarat.
  • In 2022, Solvay a supplier of specialty polymers launched ‘Omnix® ReCycle HPPA’ a recycled-based high-performance polyamide for consumer appliances

Fact.MR provides detailed information about the price points of key manufacturers of polyamides positioned across the world, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.

Key Segments of Polyamide Market Research

  • By Type :

    • Polyamide 6
    • Polyamide 66
    • Bio-based Polyamides & Specialty Polyamides
  • By Application :

    • Engineering Plastics
    • Fiber
  • By Region :

    • North America
    • Latin America
    • Western Europe
    • Eastern Europe
    • East Asia
    • South Asia & Pacific
    • Middle East & Africa

- FAQs -

How big is the polyamide market in 2024?

The global polyamide market is calculated at US$ 31.8 billion in 2024.

At what rate are the sales of polyamides projected to rise?

The polyamide market is forecasted to register a CAGR of 3.6% through 2034.

What is the forecasted valuation of the global market for 2034?

Sales of polyamides are projected to reach US$ 45.2 billion by 2034.

What is the current market size of polyamides in North America?

Demand for polyamides in North America is evaluated at a market value of US$ 10.3 billion in 2024.

Which East Asian country is emerging as a profitable market for polyamide suppliers?

Sales of polyamides in South Korea are foreseen to increase at a CAGR of 6.1% from 2024 to 2034.

Which type of polyamide is most widely consumed?

Polyamide 6 sales are calculated to reach US$ 16.9 billion by 2034.

Who are top 5 producers of polyamides?

Some of the leading companies are BASF SE, Honeywell International Inc., Du Pont de Nemours and Company, Radici Group, and Formosa Group.

What are the applications of polyamides?

Polyamides are widely used in the automotive, textile, electronics, packaging, and aerospace & defense sectors.

Is polyamide of high quality?

Excellent moisture-wicking properties are driving sales of polyamide fabrics.

- Also of Interest -

Bio-Polyamide Market

Bio-Polyamide Market Analysis By Product Type (PA-6, PA-66, Specialty Polyamides), By End Use (Textiles, Automotive, Films & Coatings, Industrial, Electrical & Electronics) & Region - Global Forecast 2022 to 2032

Polyamide in E-Mobility Market

Polyamide in E-Mobility Market Study by Hybrid Electric Vehicles (HEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Electric Vehicles (EVs) from 2023 to 2033