Polyamide Market by Type (PA 6, PA 66, Bio & Specialty (PA11, PA12, PA46, PA6/10, PA6/12, PPA)), Application (Engineering Plastics(Automotive, Electrical & Electronics, Packaging Film), Fiber(Textile, Carpet, Staple)), & Region - Global Forecast to 2028
Updated on : June 27, 2024
Polyamide Market
The polyamide market is valued at USD 43.8 billion in 2023 and is projected to reach USD 55.7 billion by 2028, growing at 4.9% cagr from 2023 to 2028. The market has observed stable growth throughout the study period and is anticipated to continue with the same trend during the forecast period. There is an increase in demand for polyamide in automotive, textiles, electronics, and industrial applications worldwide. This, in turn, drives the growth of the global polyamide market in the upcoming years.
Attractive Opportunities in the Polyamide Market
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Polyamide Market Dynamics
Driver: Increased usage in vehicles for weight reduction
The use of polyamide in the automotive sector dates to 1950. Polyamide is an ideal solution for vehicle weight reduction. It is also cheaper in unit cost in comparison to metals, which makes it an economic alternative. In the coming years, aluminum or steel consumption in automotive manufacturing is expected to reduce significantly, as weight reduction is expected to be the most important factor for R&D in automotive. It is believed that the future of the automotive industry is hybrid and electric vehicles, which is expected to propel the demand for the polyamide market during the forecast period.
Restraint: Growth in the number of substitutes used in various applications
One of the common engineering plastic materials is polyamide, also known as nylon. Even though, it is tough and durable, engineers always seek for other substitute materials that can do the job just as well or even better. For example, polycarbonate is an alternate used for clear and strong plastics, like in phones or car parts. Special plastics like polyimides or PEEK are utilized over polyamide for application in hot temperatures. Thus, growth in number of substitutes is expected to hamper the growth of polyamide market.
Opportunity: Investment and R&D in bio-based polyamide
Bio-based polyamides are fabricated from natural materials. With rising environmental concerns companies are investing in the production of eco-friendly products including bio-based polyamides, such as clothes and car parts. For instance, in September 2023, DSM Engineering Materials launched a sustainable version of its flagship polyamide (PA) product — StanylB-MB (Bio-based Mass Balanced) with up to 100% bio-based content. This growing demand and R&D for eco-friendly options is boosting the whole polyamide industry, helping it expand and thrive.
Challenge: Environmental risk of using plastics
The plastics employed in automotive & packaging industries are criticized by environmental NGOs for their role in solid waste disposal issues. Currently, these industries are shifting their focus on further integration of engineering plastics in their products. In spite of the recycling efforts, the products which are not recycled are exposed to the open atmosphere, burnt, or even mixed with the marine life. These factors act as a challenge to the further development of the engineering plastics such as polyamide.
Polyamide Market Ecosystem
Prominent companies in this market include well-established, and financially stable manufacturers of polyamides. These companies have been operating in the market for several years and possess a diversified product portfolio and strong global sales and marketing networks. Prominent companies in this market include BASF SE (Germany), Envalior (Germany), Celanese Corporation (US), Arkema (US), and Evonik Industries AG (Germany).
Based on type, the bio-based & specialty polyamide segment is projected to register highest CAGR during forecast period
The bio-based & specialty polyamide segment is estimated to be the fastest-growing segment of the global polyamide market in forecast period. Bio-based polyamide, also known as bio-nylon, represents a significant advancement in sustainable materials. They contribute to a circular economy by reducing greenhouse gas emissions and dependence on fossil fuels. This makes them a promising and sustainable choice for environmentally conscious manufacturers and consumers alike.
Based on application, the engineering plastics segment is projected to account for the largest share in 2023.
The engineering plastics segment is estimated to have the largest share of the global polyamide market in 2023. Engineering plastics are known for their mechanical strength, thermal stability, and chemical resistance. They cater to several applications ranging from automotive to aerospace, which propels the bio-based & specialty polyamide market growth.
Based on region, Asia Pacific region is projected to be the second fastest growing region for polyamide market during the forecast period.
Asia-Pacific has been witnessing high growth in the polyamide market and is projected to be the largest and second fastest growing region. Asia is a major hub for the automotive industry, and the use of polyamides in automotive components, such as engine parts, interior components, and under-the-hood applications, is on the rise. Lightweighting initiatives and stricter emissions regulations also contributed to the increased use of polyamides in vehicle manufacturing. Thus, usage of polyamide in replacing metal with plastic is expected to witness increased demand during forecast period.
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Polyamide Market Players
BASF SE (Germany), Celanese Corporation (US), Arkema (US), Asahi Kasei Corporation (Japan), Evonik Industries AG (Germany), Kuraray Co., Ltd. (Japan), Toray Industries, Inc. (Japan), Envalior (Germany), UBE Corporation (Japan), Formosa Chemicals & Fibre Corp. (Republic of China), SABIC (Saudi Arabia), Advansix (US), DuPont de Nemours, Inc. (US), Huntsman International LLC (US), EMS Grivory (Switzerland), DOMO Chemicals (Belgium), Ascend Performance Materials (US), Mitsubishi Chemical Advanced Materials (Switzerland), Invista (US), RadiciGroup (Italy) and others are among the major players leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels.
Read More: Polyamide Companies
Polyamide Market Report Scope
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Report Metric |
Details |
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Market Size Available for Years |
2018 to 2028 |
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Base Year Considered |
2022 |
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Forecast Period |
2023–2028 |
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Forecast Units |
Value (USD Million/Billion) |
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Segments Covered |
Type, Application, and Region |
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Geographies Covered |
Europe, Asia Pacific, North America, South America, and the Middle East & Africa |
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Companies Covered |
The major market players include BASF SE (Germany), Celanese Corporation (US), Arkema (US), Asahi Kasei Corporation (Japan), Evonik Industries AG (Germany), Kuraray Co., Ltd. (Japan), Toray Industries, Inc. (Japan), Envalior (Germany), UBE Corporation (Japan), Formosa Chemicals & Fibre Corp. (Republic of China), SABIC (Saudi Arabia), Advansix (US), DuPont de Nemours, Inc. (US), Huntsman International LLC (US), EMS Grivory (Switzerland), DOMO Chemicals (Belgium), Ascend Performance Materials (US), Mitsubishi Chemical Advanced Materials (Switzerland), Invista (US), and RadiciGroup (Italy), and among others. |
This research report categorizes the polyamide market based on type, application, and region.
Based on type, the polyamide market has been segmented as follows:
- Polyamide 6
- Polyamide 66
- Bio-based & specialty polyamide
Based on application, the polyamide market has been segmented as follows:
- Engineering plastics
- Fiber
Based on the region, the polyamide market has been segmented as follows:
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Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Indonesia
- Rest of Asia Pacific
-
Europe
- Germany
- Italy
- France
- Russia
- U.K.
- Rest of Europe
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North America
- US
- Canada
- Mexico
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Middle East & Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
-
South America
- Brazil
- Argentina
- Rest of South America
Recent Developments
- In April 2023, Envalior started off as a brand-new business, one of the major global providers of engineering materials. DSM Engineering Materials (DEM) and LANXESS High Performance Materials (HPM), two highly complementary market leaders in engineering materials, have merged to become Envalior, which is owned by Advent International (around 60% share), a worldwide private equity firm, and LANXESS (around 40% share), a manufacturer of specialty chemicals.
- In February 2023, Asahi Kasei's Board of Directors approved a Final Agreement regarding the transfer of business related to the development, production, and sale of spun-bond nonwoven products to a newly formed joint venture company, which will be established by joint incorporation-type company separation (The Separation) with Mitsui Chemicals, Inc. The Separation is expected to take place on October 2, 2023. Through this joint venture both the companies aim to strengthen their spunbond business in Asia.
- In January 2023, Toray Industries, Inc. created recycled nylon 66 made from leftover pieces of silicone-coated airbag fabric. The mechanical and flowability characteristics of this material are identical to those of virgin nylon 66 injection molding grades. The new product is introduced as Ecouse AMILAN.
Frequently Asked Questions (FAQ):
What are the key drivers for the polyamide market?
Increasing usage in vehicles for weight reduction and stringent growth in electrical & electronics applications are the major driving factors for polyamide market.
Which region is expected to register the highest CAGR in the polyamide market during forecast period?
The polyamide market in Middle East & Africa is estimated to register the highest CAGR during forecast period.
What is the major application of polyamide?
The engineering plastics segment is the major application of polyamide. It is projected to grow due to the rise in demand from automotive sector.
Who are the major manufacturers of polyamides?
The key players operating in the market include BASF SE (Germany), Envalior (Germany), Celanese Corporation (US), Arkema (US), and Evonik Industries AG (Germany).
What is the total CAGR expected to record for the polyamide market during 2023-2028?
The market is expected to record a CAGR of 4.9% from 2023-2028. .
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The study involved four major activities in estimating the current market size of polyamide. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizes with industry experts across the value chain of polyamide through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the size of the segments and sub-segments of the market.
Secondary Research
The research methodology used to estimate and forecast the access control market begins with capturing data on revenues of key vendors in the market through secondary research. BusinessWeek, Factiva, World Bank, and Industry Journals, such as Hoovers, Bloomberg BusinessWeek, Factiva, World Bank, and Industry Journals, were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies; white papers; certified publications; articles by recognized authors; notifications by regulatory bodies; trade directories; and databases. Vendor offerings have also been taken into consideration to determine market segmentation.
Primary Research
The polyamide market comprises several stakeholders, such as such as manufacturers of raw materials, polyamide manufacturers, traders, distributors, and suppliers, end use industries and chemical associations in the supply chain. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Primary sources from the supply side included industry experts such as Chief Executive Officers (CEOs), vice presidents, marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the polyamide market. Primary sources from the demand side included directors, marketing heads, and purchase managers from various sourcing industries. Following is the breakdown of the primary respondents:
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Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the polyamide market. These methods were also used extensively to determine the size of various sub-segments in the market. The research methodology used to estimate the market size included the following:
- The key players were identified through extensive primary and secondary research.
- The value chain and market size of the polyamide market, in terms of value, were determined through primary and secondary research.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from key leaders, such as CEOs, directors, and marketing executives.
Global Polyamide Market Size: Bottom-Up Approach
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Global Polyamide Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in engineering plastics and fiber sector.
Market definition
Polyamides are a class of polymers which are characterized by repeating units linked by amide (-NHCO-) bonds. Polyamides include proteins, proteinaceous, polyaminoacids, polypthalamides, aramides, and aliphatic polyamides. Aliphatic polyamides, polyphthalamide, and aramides are manufactured commercially and have numerous applications in industries such as fibers, textiles, and automotive, among others.
Key Stakeholders
- Manufacturers of polyamide
- Manufacturers in end-use industries
- Traders, distributors, and suppliers of polyamide
- Regional manufacturers and chemical associations
- Contract manufacturing organizations (CMOs)
- Market research and consulting firms
- Environmental support agencies
- NGOs, governments, investment banks, venture capitalists, and private equity firms
Report Objectives:
- To analyze and forecast the market size of polyamide in terms of value and volume
- To provide detailed information regarding significant drivers, restraints, opportunities, and challenges influencing market growth
- To analyze and forecast the global polyamide market on the basis of type, application, and region
- To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders
- To forecast the size of various market segments based on five major regions: North America, Europe, Asia Pacific, South America, and the Middle East & Africa, along with their respective key countries
- To track and analyze the competitive developments, such as new product launches, acquisitions, partnerships, collaboration, agreements, mergers, investments, joint ventures, contracts, and expansions in the market
- To strategically profile the key players and comprehensively analyze their market shares and core competencies
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the client-specific needs.
The following customization options are available for the report:
- Additional country-level analysis of the Polyamide market
- Profiling of additional market players (up to 5)
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolio of each company.
Growth opportunities and latent adjacency in Polyamide Market
Looking for 3-5 years historical and 1-2 forecaste price of PA10 and P12
Information on Automotive Polyamide market
General information about Polyamide Market for personal use
Polyamides for energy (oil & gas, solar, wind) markets. Also interested in polyamides for wire & cable. Focus on specialty polyamides.
General information on all types of Polyamides
Market information on Nylon 6 and Nylon 66 on application for protective wear, work wear, back packs, military and others
Interested in the market demand size of polyamide in European countries (quantity and/or sales)