The injection molding polyamide 6 market is projected to grow from USD 7.5 billion in 2020 to USD 10.4 billion by 2025, at a CAGR of 6.9% from 2020 to 2025
NEW YORK, Nov. 2, 2020 /PRNewswire/ --
The injection molding polyamide 6 market is projected to grow from USD 7.5 billion in 2020 to USD 10.4 billion by 2025, at a CAGR of 6.9% from 2020 to 2025. One of the key factors driving the growth of the injection molding polyamide 6 market includes the growing end-use industries in emerging economies. End-use industries such as automotive, electrical & electronics, industrial/machinery, consumer goods & appliances, and construction are expected to flourish in emerging economies, including China, India, and Thailand, during the forecast period. This, in turn, is expected to contribute to the growth of the injection molding polyamide 6 market.
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Polyamide 6 is also known as nylon 6 or polycaprolactam.It offers excellent surface finish, strength, stiffness, and chemical resistance to hydrocarbons.
There are various grades of the injection moldable polyamide 6 available in the market, including glass fiber reinforced, carbon fiber reinforced, mineral reinforced, and others.Among all these grades, glass fiber reinforced polyamide 6 is most widely used around the world.
Auto mirror housing brackets, clutch pedals, clutch master cylinders, ski bindings, steering wheels, levers, auto seat frames, door handles, and door lock mechanisms are some of the major applications of glass fiber reinforced polyamide 6 in the automotive industry.
Reinforced PA6 is estimated to lead the injection molding polyamide 6 market, by grade in terms of value during the forecast period
By grade, reinforced PA6 grade is estimated to be the largest segment in the injection molding polyamide 6 market in 2020, in terms of value.It is majorly due to the excellent properties offered by the reinforced PA 6 and high demand for glass fiber reinforced PA 6 from the automotive industry.
The reinforcing of polyamide 6 makes it suitable to be used across applications in the automotive, electrical & electronics, construction, consumer goods & appliances industries.
Automotive end-use industry is estimated to dominate the injection molding polyamide 6 market.
By the end-use industry, the automotive segment dominated the injection molding polyamide 6 market in 2020, both in terms of value and volume.Injection molding polyamide 6 is used in the automotive industry for weight reduction of vehicles.
It is also cheaper in unit cost in comparison to metals, and other grades of commonly used thermoplastics such as polyamide 66, making it an economical alternative.
PA 6 has excellent tensile strength, stiffness, chemical resistance, heat resistance, wear resistance, and lubricity.Injection molding PA 6 is frequently used in the automotive parts manufacturing when a low-cost, high mechanical strength, rigid, and stable material is required.
For example, PA 6 is extensively used in the door handles & radiator grills.
Asia Pacific dominated the injection molding polyamide 6 market in 2019.
Asia Pacific is estimated to account for the largest share of the injection molding polyamide 6 market in 2020.The growth of the automotive and electrical & electronics industries is responsible for driving the injection molding polyamide 6 market in this region.
China is one of the key consumers of injection molding polyamide 6 in the region.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 37%, Tier 2 – 42%, and Tier 3 – 21%
• By Designation: C-level Executives – 30%, Directors – 25%, and Others – 45%
• By Region: North America – 20%, Europe – 27%, Asia Pacific – 40%, South America – 7%, Middle East & Africa – 6%
The major manufacturers of injection molding polyamide 6 are DSM, Lanxess Corporation, Radici Group, DOMO Chemicals, and BASF SE. These players have adopted various growth strategies, such as business & capacity expansions, new product launches, product developments, partnerships, R & D expansions and mergers in the injection molding polyamide 6 market, between 2017 and 2020, to expand their presence in the global market, offer innovative products, and expand their customer base.
Research Coverage:
The report defines, segments, and projects the injection molding polyamide 6 market based on grade, end-use industry, and region.It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges.
It strategically profiles, injection molding polyamide 6 manufacturers and comprehensively analyzes their market shares and core competencies as well as tracks and analyzes competitive developments, such as expansions, agreements, acquisitions, partnerships, new product launches, joint ventures, investments, contracts, mergers, collaborations, new technology developments, new process developments, undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the injection molding polyamide 6 market and its segments.This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies.
It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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