Global Polyamide 11 & 12 Market

Polyamide 11 & 12 Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Polyamide 11 & 12 Market was worth US$  3,117.5 Mn and is expected to grow at a CAGR of 7.5% over the forecast period. The market is expected to hit US$  5,560.0 Mn by 2030 end.

POLYAMIDE 11 & 12 are lightweight and have excellent thermal and chemical resistance, dimensional stability, and chemical resistance. These are effective fire retardants and emit little smoke, making them popular in the aircraft and automotive sectors.

They offer minimal water absorption, and molded parts show no dimensional change with variation in the atmospheric humidity. It makes them an attractive option for the molded parts in the automotive.

Market Dynamic

THE RISE IN THE AUTOMOTIVE INDUSTRY DRIVES THE MARKET GROWTH

The utilization of polyamide 11 & 12s in various sectors is critical to market growth. The applications of polyamide 11 & 12s are many. Polyamides are commonly utilized in the textile industry to replace silk and cotton.

Polyamide 11 & 12 demand is predicted to rise during the forecast period as its acceptance grows among end-use industries. Polyamide 12 is a fine yellowish powder widely used in additive manufacturing. Polyamide 11 is used in the oil and gas sector for umbilical lines and hoses, gas pipes and fittings, and flexible liners for offshore and onshore applications.

Polyamide 11 and 12 offer strong heat and chemical resistance to various chemical substances such as aldehydes, ketones, hydrocarbons, and others.

TECHNOLOGICAL EXPERTISE AND HIGH PRODUCTION COST MAJOR MARKET HAMPER

Due to a more sophisticated process than any other plastic, such as standard polyamides, producing Polyamide 11 & 12 necessitates a significant investment. Polyamide 11 & 12 products are made at high temperatures and need technological skills.

Plastics’ high cost adds to production costs, restricting their application and stifling market expansion. The high cost of production also prevents small and mid-level competitors from entering the market, limiting the development of the Polyamide 11 & 12 industry.

COVID-19 Impact

The Polyamide 11 & 12 market is expected to contract in 2020 due to the COVID-19 pandemic. This lethal virus has wreaked havoc on the world, particularly in North America and Europe. Companies shut down their operations and production facilities to prevent the virus from spreading further. It has decreased polyamide use throughout the automotive, electrical & electronics, industrial, medical, and other end-use industries.

Segment-Wise Analysis

Why is an automotive segment of  Polyamide 11 & 12 projected to have the highest CAGR?

The automotive application segment is expected to dominate the market because polyamide 11 & 12s is widely employed in constructing lightweight cars; it accounts for a considerable portion of the market. Furthermore, the polyamide 11 & 12s market is driven by growth in fuel-efficient and environmentally friendly goods.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• The Asia Pacific led the market, accounting for more than 0% of worldwide revenue in 2021. The region’s primary Polyamide 11 & 12 users are automotive, electrical, and electronics. The Asia-Pacific region’s demand is predicted to grow rapidly due to the region’s growth activities and expanding industrialization. Consumers’ increased disposable money is propelling the Asia Pacific transportation business. It is expected to fuel the area’s polyamide 11 & 12 market.
• North America is the second largest user of Polyamide 11 & 12s, with electrical, industrial, and medical industries driving the region’s high-performance polyamides market growth.

Competition Analysis

The worldwide market is highly fragmented due to the existence of a large number of producers all over the world. Companies in the market compete based on the product quality and the technology utilized to produce high-performance polyamide. Major firms are expanding their manufacturing facilities, developing infrastructure, investing in research and development centers, and looking for possibilities to integrate across the value chain vertically.

Some of the key developments that have taken place in the Polyamide 11 & 12 Market include:

• In May 2019, Royal DSM strengthened its presence in India by acquiring SRF Ltd. for its polyamide 11 & 12s This growth reinforced and enlarged the company’s geographical footprint in the materials industry.

A list of some of the key suppliers present in the market are:

• Solvay
• RTP Company
• Kuraray Co., Ltd.
• Mitsui Chemicals America, Inc.
• Koninklijke DSM N.V.
• Arkema
• BASF SE
• Evonik Industries AG
• Lanxess
• DuPont
• Ems-Chemie Holding Ag
• Mitsui Chemicals Inc
• Toray Industries Inc
• Kolon Plastic Inc
• AdvanSix Inc

Market Segments Covered in Report

By Type:

• Polyamide 11
• Polyamide 12

By Application:

• Automotive
• Additive Manufacturing
• Energy
• Consumer Goods
• Industrial
• Sports & Leisure
• Electronics
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Global Polyamide 11 & 12 Market 2022-2030: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies