May 23, 2024

Polyamide 12 Market Is Estimated To Witness High Growth Owing To Increasing Use Of Nylon 12 In 3D Printing Filaments

The global polyamide 12 market is a rapidly growing market owing to the wide range of applications of nylon 12 in various end-use industries such as automotive, electrical & electronics, and consumer goods among others. Nylon 12, also known as PA 12, is a semi-crystalline polyamide that exhibits excellent physical and mechanical properties such as high strength, stiffness, heat resistance, and chemical resistance. These properties have led to its increasing usage in 3D printing filament applications. It is also replacing metals in under-the-hood applications in automobiles to reduce weight.

The global polyamide 12 market is estimated to be valued at US$ 405.54 million in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period of 2024 to 2030.

Key Takeaways

Key players operating in the polyamide 12 market are Ultralife Corporation, EaglePicher Technologies LLC, EnerSys, Liberating Technologies, Inc., Panasonic Corporation, Tadiran Batteries Ltd., Saft Groupe S.A., Arotech Corporation, SHENZHEN KAYO BATTERY Co., Ltd, and Vitec Group plc.

The rising demand for 3D printing technology across various industries is creating significant growth opportunities for nylon 12 in 3D printing filaments. The lightweight and high strength properties of nylon 12 make it an ideal material for various FDM 3D printing applications.

Advances in 3D printing technology and rapid prototyping techniques are further driving the demand for polyamide 12. Developments in metal 3D printing using polyamide 12-based materials can open new avenues for this market over the forecast period.

Market Drivers

Increasing automotive production across developing nations is a key driver for the Polyamide 12 Market Demand . Automakers are extensively using nylon 12 components to reduce vehicle weight and improve fuel efficiency. Its self-lubricating properties reduce wear and improve the performance lifespan of under-the-hood automotive applications such as engine covers. The stringent fuel-economy norms will continue driving demand from the automotive industry.

Challenges in the Polyamide 12 Market
The polyamide 12 market faces several challenges. The prices of raw materials used to manufacture polyamide 12 are volatile and depend on petroleum prices. Fluctuations in crude oil prices affect the costs of key raw materials like castor oil and chemical intermediates. This adds an element of uncertainty to the market. Furthermore, the outbreak of COVID-19 pandemic slowed down end-use industries that employ polyamide 12, like automotive and electronics, hampering market growth. Protectionist trade policies initiated by major economies also pose a challenge in the form of tariffs and non-tariff barriers.

SWOT Analysis
Strength: High tensile strength and low density of polyamide 12 makes it suitable for applications requiring lightweight and durable materials.

Weakness: Higher costs compared to other commodity polymers limit its use in price-sensitive applications.

Opportunity: Growing demand for bio-based and recyclable polymers provides opportunities for bio-based polyamide 12.

Threats: Stiff competition from alternate polymers may hamper polyamide 12 market share. Substitution threat from emerging materials poses challenge.

The polyamide 12 market in North America and Europe accounted for over 60% of the global market value in 2024 due to high demand from end-use industries across the US, Germany, Italy, and France. Asia Pacific is projected to be the fastest growing regional market between 2024-2030 owing to rapidly expanding automotive and electronics industries in China and India.

Geographical Regions
In terms of value, North America currently dominates the global polyamide 12 market due to robust demand from automotive, electronics and industrial applications across the US and Canada. Europe is another major revenue generator for polyamide 12 market. Germany, Italy, France and UK collectively contribute over 30% of European polyamide 12 demand.

The Asia Pacific region is poised to exhibit highest growth during the forecast period. surging automotive production and rising standards of living augmenting electronics consumption in populous nations such as China and India will augment the APAC polyamide 12 market size. Additionally, regional players expanding production capacities aligns with market growth prospects.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it