Polyamide 12 belong to the family of polyamides, popularly known as nylon, and the number represents the presence of 12 carbon atoms in the molecule respectively. Wear resistance, strong mechanical qualities, low gas permeability, and chemical resistance are the characteristics of polyamide 12. Bio-based polyamide 12 are gaining popularity due to its eco-friendly nature.
Global Polyamide 12 market was valued at US$ 313.9 Billion in 2021 in terms of revenue, exhibiting a CAGR of 5.9% during the forecast period (2022 to 2030).
Drivers
Increased demand for lightweight automobiles propels growth of the polyamide 12 market. Increased passenger car sales, particularly in emerging economies anticipated to boost demand for polyamides in automotive applications. Rising investments in the automobile sector is another reason for growth of automobiles market. For instance, according to Indian Brand Equity Foundation report in February 2022, the automobile sector received cumulative equity Foreign Direct Investment inflow of about US$ 30.78 billion between April 2000 and September 2021. Moreover the Government of India expects automobile sector to attract US$ 8-10 billion in local and foreign investments by 2023. Growing automobile industry would benefit growth of the polyimide 12 market.
Nylon 12 has broad range of applications in automotive sector, owing to the exceptional characteristics of the material including resistance to cracking under stress, excellent chemical resistance, lower moisture absorption, superior abrasion resistance, lower melting point, higher elongation, lightweight, brilliant control strength, which is driving market growth for polyamide 12 globally. Further, it is also utilized to produce multilayer pipes for e.g. hydraulic lines, pneumatic brake lines, and fuel pipes for engineering of automobiles globally.
In terms of revenue, Asia Pacific is expected to dominate the polyamide 12 market during the forecast period. The Asia-Pacific had the major market share of nearly 33.4% in 2021, as a result of swift industrial growth in the region. Emerging economies such as India, China, and Japan are considered as major contributors to the polyamide 12 market growth in the Asia Pacific region. India, and China are focusing mainly on improving their infrastructure and promoting their manufacturing industry.
Figure 1. Global Polyamide 12 Market Value Share (%), By Region, 2021
Market Restraints
High competition from manufacturers of hybrid polymers and composites is one of the major factors that is expected to hamper growth of market over the forecast period. Moreover, instability in cost and the presence of substitutes to polyamide 12 which offer low cost material is expected to obstruct the global polyamide 12 market growth during the forecast period.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 313.9 Bn |
| Historical Data for: | 2017 to 2021 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 5.9% | Forecast Period: | 2022 to 2030 |
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| Companies covered: |
Arkema Group, DowDuPont Inc., Ensinger GmbH, Evonik Industries AG, UBE Industries Inc., Techmer PM LLC., Invista, EMS-Chemie Holding AG, RTP Company Inc., Toray Industries Inc., Formulated Polymers Limited, and Merck KGaA. |
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Market Trends
Automobile manufacturers are focusing on the manufacturing of lightweight vehicles which is driving market growth for polyamide 12 which is a key trend in the global polyamide 12 market. Increasing focus on emission control has been witnessed in automotive industry. This has prompted several of the industry participants to develop vehicles that are relatively lighter in weight than metal. Metal-to-plastics conversion has been a prominent trend in the automotive industry over the past few years.
Figure 2. Global Polyamide 12 Market Value Share (%), By End-use Industry, 2021
Based on end-use industry, the automotive segment held dominant position in market and accounted for a revenue share of 55.5% in 2021 Increasing demand for light weight vehicles is a major factor fuelling demand for polyamide 12 in the automotive industry. For instance, according to the international energy report in December 2021, about 3 million new electric light vehicles were registered in 2020 and Europe led with 1.4 million light vehicle registrations. There is a 43% of growth in the 2021 for light vehicle from the previous year 2020. The growing market for light vehicles will drive the market for the polyamide 12 globally.
Recent Developments
Competitive Section
Major players operating in the global polyamide 12 market include Arkema Group, DowDuPont Inc., Ensinger GmbH, Evonik Industries AG, UBE Industries Inc., Techmer PM LLC., Invista, EMS-Chemie Holding AG, RTP Company Inc., Toray Industries Inc., Formulated Polymers Limited, and Merck KGaA
Polyamide 12 is a thermoplastic polymer and is made from either laurolactam or ω-aminolauric acid. It has optimal impact strength and lower melting point, and moisture absorption properties compared to the standard form of polyamide 6, which has higher strength and stiffness. It finds End-use Industry in end-user industries such as automotive, electric and electronic, packaging, and consumer goods such as sports and leisure equipment. Moreover, it also has End-use Industry in interior and exterior designing, permanent antistatic parts such as electrical housing, and conveyor belts.
Market Dynamics
Polyamide 12 is a semi-crystalline and white engineering thermoplastic. Polyamide 12 offers several advantages such as good abrasion resistance, high flexibility & strength, and better elongation at break comparison to unmodified polyamide 12. End-use Industrys of polyamide 12 include precision engineering components and other components, which need low temperature toughness. Moreover, it finds its End-use Industrys in ski boots, protective coverings, damping cogwheels, and profiles for automotive industry, flexible piping for air ducts, petrol, and oil pipes for machine building. Other End-use Industrys of polyamide 12 are sealing rings, diaphragms, soles for sports shoes, flexible cover caps, sheet gaskets, and cable fasteners.
Polyamide 12 finds its End-use Industrys in development of oil & gas pipelines, owing to its various properties such as high resistance to mechanical stress. Demand for oil and gas is rising significantly, which has led oil and gas companies to utilize their resources and infrastructure to its maximum capabilities. Polyamide 12 piping system can potentially operate at pressures of up to 250 psig, owing to its hydrostatic strength and the use of a 0.40 design factor, which makes PA12 piping systems effective alternative to steel piping systems. This factor is projected to boost demand for polyamide 12 in pipeline End-use Industrys in the near future.
Demand for polyamide 12 is expected to experience healthy growth from the 3- D printing industry over the long term forecast as 3-D printing is gaining popularity over all sections of the society along with rising adoption by the manufacturers of medical devices. Polyamide 12 have excellent thermal resistance and are chemically resistant to variety of chemical compounds including aldehydes, ketones, hydrocarbons, and others.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
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