Polyamide Market to Grow by USD 5.18 Billion (2024-2028), Boosted by Superior Properties & Versatile Nature of PA, with AI Driving Market Transformation - Technavio

NEW YORK, Jan. 31, 2025 /PRNewswire/ -- Report with the AI impact on market trends - The global polyamide market size is estimated to grow by USD 5.18 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.56% during the forecast period. Superior properties and versatile nature of pas is driving market growth, with a trend towards wide usage of pas in additive manufacturing industry. However, volatility in raw material prices and its impact poses a challenge. Key market players include AdvanSix Inc., Arkema SA, Ascend Performance Materials, BASF SE, Domo Chemicals GmbH, DuPont de Nemours Inc., Evonik Industries AG, Formosa Chemicals and Fibre Corp., Goodfellow Cambridge Ltd., Huntsman Corp, Invista, Koninklijke DSM NV, Lanxess AG, Lealea Group, Radici Partecipazioni Spa, Shenma Industrial Co. Ltd., Solvay SA, Toray Industries Inc., Toyobo Co. Ltd., and Ube Corp..

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Market Driver

Polyamide, a versatile macromolecule, is the backbone of Nylons and Aramids, widely used in engineering, textile markets, and consumer goods. Thermoplastics like Polyamide offer high temperatures and corrosive environment resistance, making them ideal for automotive, electrical appliances, and aerospace sectors. The market for raw materials, precursors, coatings, and films is growing, driven by technological innovation in engineering plastics. Bio-based polyamides are gaining traction in industries, including building & construction, electronics & electrical, and industrial machinery. High-performance Aramids are used in aerospace, automotive applications, and lead-free soldering. The global revenue for Polyamide reached USD 55 billion in 2020, with significant growth in ASEAN countries and emerging nations. The pandemic has affected the supply chain, but digitalization, robotics, and virtual reality are driving demand. Key applications include vehicle production, consumer electronics, and electrical insulation properties. The industry is in the growth stabilization phase, with R&D activity focusing on wear resistance, mechanical qualities, gas permeability, and chemical resistance. Aliphatic and aromatic polyamides are used in various sectors, from textiles to engineering plastics. The market for polyamide fibers & films is expected to grow, with applications in LAMEA, microwavable food products, and automotive interiors. The future of Polyamide lies in lightweight automobiles, electric vehicles, and sustainable materials like wool, silk, and bio-based nylon. 

The polyamide market holds significant potential in the additive manufacturing industry, particularly in 3D printing. PA polymers are widely utilized due to their cost-effective nature and reduced environmental impact compared to fuel-based polymers. Techniques such as slurry and powder-based 3D printing, laser sintering, stereolithography, laminated object manufacturing, material jetting, and binder jetting are commonly used for 3D printing PA polymers. PA filaments are popular for 3D printing applications, while films are used in packaging and sheet stocks in CNC machine manufacturing. 

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Market Challenges

• Polyamide, a type of macromolecule, includes Nylons and Aramids, widely used in engineering applications due to their thermoplastic properties. In textile markets, Nylons are popular for consumer goods like clothing and carpets, while Aramids excel in high-performance applications. Engineering plastics, including Polyamide, are essential in sectors like Building & Construction, Electrical appliances, and Aerospace. Bio-based Polyamide, derived from renewable raw materials, is gaining traction due to environmental awareness. Challenges include securing reliable precursors, managing supply chain complexities, and digitalization's impact on production. High temperatures and corrosive environments require non-adhesive, low-friction Polyamides. The Automotive sector and Consumer Electronics are significant markets, with demand driven by lightweight vehicles, EVs, and 5G connectivity. In Aerospace, Polyamides offer wear resistance, mechanical qualities, gas permeability, and chemical resistance. R&D activity focuses on technological innovation, including aliphatic and aromatic polyamides, and polyamide fibers & films. The LAMEA region, including ASEAN countries, shows significant growth potential. The industry is in the growth stabilization phase, with challenges like the pandemic's impact, logistics, and human health concerns. The future of Polyamides lies in their versatility, with applications in industries like Wearable Technology, Medical Devices, and Industrial Machinery.
• The Polyamide (PA) market has experienced a decline in value due to the significant impact of crude oil prices. The PA value chain is heavily reliant on the cost of crude oil. With crude oil prices plummeting to record lows, the cost of key raw materials such as Caprolactam (CPL) and derivative benzene through cyclohexane has followed suit. The final PA product cost is directly influenced by crude oil price fluctuations. According to the International Energy Agency (IEA), the benchmark price of crude oil in the US dropped dramatically in April 2020 due to the global economic downturn caused by the COVID-19 pandemic and an oil market collapse. This event has had a substantial effect on the PA market.

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Segment Overview 

This polyamide market report extensively covers market segmentation by

1. Type 
• 1.1 PA6
• 1.2 PA66
• 1.3 Bio-based PA
• 1.4 Specialty PA
2. End-user 
• 2.1 Automotive sector
• 2.2 Electrical and electronics sector
• 2.3 Packaging sector
• 2.4 Others
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 PA6- The production of Polyamide 6 (PA 6) involves the polymerization of caprolactam (CPL), which is originally produced through a reaction with cyclohexanone and hydroxylamine sulfate in a multi-compartment reactor. Hydrolytic polymerization of CPL is commonly used for large-scale production due to its adaptability and ease of control parameters. Market players have developed proprietary processes for PA 6 production, providing them a competitive edge. The increasing production of CPL in APAC, driven by steady demand for PAs, particularly PA 6, will significantly boost the growth of the PA 6 segment in the global polyamide market during the forecast period.

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Research Analysis

Polyamide, also known as nylon, is a type of macromolecule used extensively in various industries due to its unique properties. This synthetic polymer is renowned for its high wear resistance, mechanical qualities, gas permeability, and chemical resistance. Two major categories of polyamides are Nylons and Aramids. Nylons, derived from petrochemicals, are widely used in textile markets and consumer goods, including clothing, carpets, and ropes. Aramids, on the other hand, are used in engineering applications, such as aerospace, building and construction, electrical and electronics, industrial and machinery, and automobiles. Aramid fibers, like Kevlar and Twaron, offer exceptional strength and are used in bulletproof vests, parachutes, and lightweight automobiles. Polyamide 66, a type of nylon, is used in engineering thermoplastics, while bio-based polyamides are gaining popularity due to their eco-friendliness. The global polyamide market is driven by the increasing demand for lightweight automobiles, passenger car sales, and the growing demand for high-performance materials in various industries.

Market Research Overview

Polyamide, a versatile macromolecule, is a type of thermoplastic polymer, also known as nylon. It includes two main categories: Aramids and engineering nylons. Aramids exhibit high strength, heat resistance, and low flammability, making them ideal for engineering applications in extreme conditions, such as aerospace, automotive, and protective clothing. Engineering nylons, on the other hand, offer excellent mechanical qualities, wear resistance, and chemical resistance, making them suitable for various industries, including textile markets, consumer goods, electrical appliances, and building & construction. Bio-based polyamides are gaining popularity due to their eco-friendly nature. Raw materials for polyamide production include precursors like caprolactam and adipic acid. The global revenue for polyamide reached USD billions in 2020, with significant growth in ASEAN countries and emerging nations. The pandemic has affected the supply chain, leading to digitalization, robotics, virtual reality, augmented reality, IoT, and 5G connectivity in the polyamide industry. Applications span from wearable tech and industrial machinery to automotive parts, electrical insulation, and high-performance films. Polyamides are used in various sectors like automotive, electronics & electrical, building & construction, and aerospace. They offer high-temperature resistance, corrosion resistance, non-adhesive properties, and low friction. Polyamide fibers and films are used in textiles, while aliphatic and aromatic polyamides are used in engineering plastics. Polyamides have a wide range of applications, from microwavable food products and radiator fans to oil filter housings and engine covers. They are also used in fuel systems, electrical connectors, interior parts, and electric vehicles (EVs). The industry is currently in the growth stabilization phase, with R&D activity focusing on developing new applications and improving existing ones. Recyclable items and environmental awareness are driving the demand for more sustainable polyamide production. Bio-based polyamides, such as those derived from wool, silk, nylon, and other natural sources, are gaining popularity. The industry is also exploring the use of renewable raw materials and closed-loop recycling systems. In summary, the polyamide market is a dynamic and diverse industry with a wide range of applications across various sectors. Its versatility, combined with technological innovation and a focus on sustainability, ensures its continued growth and relevance in the global economy.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• PA6
• PA66
• Bio-based PA
• Specialty PA
• End-user
• Automotive Sector
• Electrical And Electronics Sector
• Packaging Sector
• Others
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio