Polyamide 12 Market – Insights
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 application in end-user industries such as automotive, electric and electronic, packaging, consumer goods such as sports and leisure equipment. Moreover, it also has application in interior and exterior designing, permanent antistatic parts such as electrical housing, and conveyor belts.
The global polyamide 12 market is expected to witness subsequent growth and register a CAGR of 5.9% over the forecast period (2019-2027). The market growth is driven by rising demand for light vehicles along with demand for PA 12 in pipeline applications.
PA 12 is used in developing oil and gas pipelines. Polyamide 12 is highly resistant to mechanical stress, stress fracturing, and to chemicals such as crude oil. These properties help drilling companies protect gas pipelines against corrosion and chemicals.
Two major concerns related to thermoplastic materials used in oil and gas pipelines are fatal cracks and creep & stress rupture process. Due to intermolecular forces in PA 12, the hydrostatic strength of PA 12 pipes is much higher than High-density polyethylene (HDPE) and grade PE 100.
Moreover, government initiatives are likely to provide ample opportunities to players operating in the polyamide 12 market in the near future. In 2017, the U.S. government negotiated the North American Free Trade Agreement (NAFTA), which is expected to negatively impact sales of Mexican-made cars in the U.S. According to the Mexican Statistical Institute, in 2015, the automotive industry accounted for 3.4% of Mexico’s GDP. However, the number is expected to decline over the forecast period, owing to NAFTA renegotiations with the U.S. Conversely, this is expected to boost automobile manufacturing in the U.S. which, in turn, could facilitate demand for lightweight vehicles manufactured using PA 12.
Moreover, high competition from manufacturers of hybrid polymers and composites is expected to hinder growth of the industry over the forecast period. For instance, in 2013, Evonik Industries began operating a pilot plant for ω-amino lauric acid (ALS) in Slovenska Lupca, Slovakia. Bio-based ALS can be used as an alternative to petroleum-based laurin lactam (LL) for manufacturing sustainable, high-performance plastics, which produces an compound identical to polyamide 12 (PA 12). These factors are expected to restraint the growth of the polyamide 12 market in the near future.
The global polyamide 12 market was valued at US$ 266.0 Mn in 2018, and is expected to register a CAGR of 5.9%, in terms of revenue over the forecast period (2019-2027), to reach US$ 441.3 Mn by 2027.
Figure 1. Global Polyamide 12 Market Share (%), By Region, 2018
Source: Coherent Market Insights, 2018-19
In 2018, Asia Pacific accounted for the largest market share of around 33.4% in the global polyamide 12 market. Moreover, in 2018, Europe accounted for the second largest revenue share owing to increasing demand for PA 12 in applications such as 3D printing, metal coatings, automotive, and personal care.
Polyamide 12 or nylon 12 is used in skin care and nail care products such as hand creams, skin fresheners, and nail paints, owing to its sterile and hypo-allergenic properties. Growth in the Europe based personal care industry is expected to facilitate growth of the polyamide 12 market in the region. According to Cosmetics Europe, in 2015, Europe dominated the global production of cosmetics products, and was valued at US$ 94.77 bn in the global cosmetics market. Furthermore, increasing spending on research and development activities is driving growth of the cosmetics products segment in Euorpe. The total expenditure on research and development in Europe was US$ 1.56 Bn in 2015, according to the Cosmetics Europe.
Figure 2. Global Polyamide 12 Market Share (%), By End-use Industry, 2018
Source: Coherent Market Insights, 2018-19
Based on end-use industry, the automotive segment held dominant position in the market and accounted for a revenue share of 55.5% in 2018. Increasing demand for light weight vehicles is a major factor fuelling demand for polyamide 12 in the automotive industry. For instance, according to the U.S. Department of Commerce, in 2016, the U.S. exported around 2.1 million new light vehicles. This scenario is projected to contribute to the increasing demand for polyamide 12 market in the coming years.
Major players operating in the global polyamide 12 market include, Evonik Industries AG, Arkema Group, DowDuPont Inc., Ensinger GmbH, UBE Industries Inc., Techmer PM LLC., Invista, EMS-Chemie Holding AG, RTP Company Inc., and Toray Industries Inc.
Polyamide 12 is a semi-crystalline and white engineering thermoplastic. Polyamide offers several advantages such as good abrasion resistance, high flexibility & strength, and better elongation at break comparison to unmodified polyamide 12. Applications of polyamide 12 include precision engineering components and other components, which need low temperature toughness.
Moreover, it finds its applications 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 applications of polyamide 12 are sealing rings, diaphragms, soles for sports shoes, flexible cover caps, sheet gaskets, and cable fasteners.
Among end-use industry, automotive segment held dominant position in the global polyamide 12 market in 2018. Polyamide 12 is used in air brake lines, hydraulic lines, and fuel lines in automobiles and manufacturing tires. Growth of end-use industries including automotive industry is projected to propel growth of global polyamide 12 market.
Among regions, Asia Pacific accounted for the largest share and contributed 33.4% in global polyamide 12 market in 2018. This is owing to high growth of end-use industries in the region. According to India Brand Equity Foundation (IBEF), Indian electronics industry was worth US$ 350.4 billion in 2017 and is expected to reach the value of US$ 400 billion by the end of 2020. This factor is expected to contribute to growth of global polyamide 12 market in the near future.
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