DSM (Netherlands) and DOMO Chemicals (Belgium) are Leading Players in the Injection Molding Polyamide 6 Market
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. The major reasons for the growth of the injection molding polyamide 6 market include growing end-use industries such as automotive, electrical & electronics, industrial/machinery, consumer goods & appliances, and construction. Excellent properties of polyamide 6, such as high impact strength, good abrasion & wear resistance, excellent surface appearance, better processability, and low-cost when compared to other grades of polyamide such as polyamide 66 (PA 66), is driving the growth of the injection molding polyamide 6 market. There are various grades of polyamide 6 is available in the market, including glass fiber reinforced PA 6, carbon fiber reinforced PA 6, mineral filled PA 6, heat stabilized/flame retardant PA 6, and unreinforced PA 6. Among all these grades, glass fiber reinforced PA 6 is being extensively used in the automotive industry.
Companies such as DSM, BASF SE, Radici Group, DOMO Chemicals, Lanxess Corporation and Sabic are the major players in the injection molding polyamide 6 market. The leading players in the injection molding polyamide 6 market, have adopted the strategies such as business & capacity expansions, new product launches, product developments, partnerships, acquisitions, R&D expansions and mergers to increase their presence in the global market.
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DSM is the leading player in the global injection molding polyamide 6 market. In November 2019, the engineering plastics business of the DSM company entered a partnership with Nexeo Plastics. The partnership was done to enhance its distribution network of DSM engineering plastic products, including Akulon PA6/66 for automotive, electronics, and industrial manufacturers throughout the North American region. The DSM produces wide range of injection molding polyamide 6 under the brand name Akulon.
Another important player in the global injection molding polyamide 6 market is DOMO Chemicals. DOMO produces polyamide 6 under the engineering plastics business segment. Polyamide 6 offered by DOMO engineering plastic division is used in end-use industries such as automotive and the electrical and electronics (E&E), and consumer goods. In August 2019, DOMO Chemicals signed an agreement to acquire Solvay SA’s performance polyamides business in Europe. This acquisition will significantly strengthen the DOMO Chemicals downstream polyamide-based engineering materials business in Europe. Further, in March 2020, DOMO Chemicals announced to invest USD 13.28 million in a new polyamide plant in China. The new plant will be in the convenient transportation port area of DuShan, Pinghu city. The new polyamide plant in China is expected to strengthen the position of DOMO Chemicals in the polyamide market of China.
Related Reports:
Injection Molding Polyamide 6 Market by Grade (Reinforced PA6, Unreinforced PA6, Others), End-use Industry (Automotive, Electrical & Electronics, Industrial/Machinery, Consumer Goods & Appliances, Construction, Others), Region - Global Forecast to 2025
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