by The global Polyamide 12 Market is estimated to be valued at US$ 313.9 Bn in 2022 and is expected to exhibit a CAGR of 5.9% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Polyamide 12, commonly known as Nylon 12, is a semi-crystalline thermoplastic polymer belonging to the polyamide family. It has unique properties such as low moisture absorption, dimensional stability, low friction coefficient, impact strength and rigidity. These properties make it suitable for use in automotive engine compartments, electric vehicles, industrial hoses & tubes and 3D printing. The growing automotive industry is driving the demand for high-performance plastics such as polyamide 12 to manufacture lightweight components and cut down vehicle emissions. Additionally, its recyclability makes it an environmentally sustainable option.
Market key trends:
One of the key trends in the polyamide 12 market is growing demand from the automotive industry. Polyamide 12 finds wide application in manufacturing under-the-hood components, fluid transfer lines, and structural & engine parts owing to its heat resistance, mechanical strength and low weight. The rising global vehicle production and stringent emission standards are propelling automobile manufacturers to use more lightweight materials like polyamide 12. Another major trend is increasing R&D investments by players to develop bio-based and recycled polyamide 12 variants. This is driven by the focus on sustainability and circular economy. Many companies have come up with novel technologies to derive polyamide 12 from renewable plant-based sources or post-consumer waste, which is boosting the market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the polyamide 12 market is low due to the presence of established players and the high capital requirement for production facilities.
Bargaining power of buyers: The bargaining power of buyers is high in the polyamide 12 market as there are numerous players offering similar products. Buyers can easily switch between suppliers based on price and quality.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers have limited control over prices due to availability of substitute materials.
Threat of new substitutes: The threat of substitutes is moderate as polyamide 12 faces competition from other plastics like polypropylene and polyethylene which have similar properties.
Competitive rivalry: The polyamide 12 market is highly competitive with major players competing based on product differentiation, pricing, and supply contracts.
Key Takeaways
The global Polyamide 12 Market Demand is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing demand from automotive and electrical & electronics industries.
Regional analysis
Asia Pacific dominated the global polyamide 12 market in 2021 and is expected to continue its dominance during the forecast period. This is attributed to growing automotive, industrial and electrical & electronics industries in China, India, Japan and other Asian countries. Europe is another major market for polyamide 12 due to presence of robust automotive industry in Germany, Italy and other European nations.
Key players
Key players operating in the polyamide 12 market are Arkema Group, DowDuPont Inc., Ensinger GmbH, Evonik Industries AG, UBE Industries Inc., Techmer PM LLC., Invista, EMS-Chemie Holding AG, RTP Company Inc., Toray Industries Inc., Formulated Polymers Limited, and Merck KGaA. Arkema Group and Evonik Industries AG are the global leaders in polyamide 12 production.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
