Polyamide 11 & 12 market is expected to generate an incremental $ opportunity of US$ 2.4 Bn between 2022 and 2030
Category: Chemicals & Materials Published Date : July 2022 ID: CVC-00168 Format: PDF Pages: 295
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.
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.
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.
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.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
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:
A list of some of the key suppliers present in the market are:
Market Segments Covered in Report
By Region and Country:
Global Polyamide 11 & 12 Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Applications, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|