Polyamide 12 Market to Reach US$ 441.3 Mn by 2027 - Coherent Market Insights

Published On : Aug 22, 2019

The global polyamide 12 market was valued at US$ 266.0 Mn in 2018, according to Global Polyamide 12 Market Report, by End-use Industry (Automotive, Consumer Goods, Electronics, Industrial, and Others) and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights.

The global polyamide 12 market is projected to reach US$ 441.3 Mn by 2027, exhibiting a CAGR of 5.9% during the forecast period (2019-2027). The market demand is driven by growing demand for light vehicles along with increasing demand for polyamide 12 (PA 12) in oil & gas pipeline applications.

Polyamide 12 finds its applications in development of oil & gas pipelines, attributing to its various properties such as high resistance to mechanical stress. The 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. PA12 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 the demand for polyamide 12 from pipeline applications in the near future.

However, high competition from hybrid composites and polymer manufacturers is projected to hinder growth of global polyamide 12 market over the forecast period. For instance, Solvay offers Amodel polyphthalamide (PPA) and Ixef polyarylamide (PARA) for key fuel line connectors and glycol connectors, which is a replacement to PA 12 resin. Increasing application of Amodel PPA across the automotive industry for a range of systems such as air induction fuel systems, heating and cooling, automotive electronics, and transmission is expected to be a factor restraining growth of the market.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/polyamide-12-market-1405

Browse 36 market data tables* and 30 figures* on "Polyamide 12 Market” - Global forecast to 2027.

Key Takeaways of the Market:

  • Among end-use industry, automotive segment accounted for largest revenue share and contributed for more than half in the global polyamide 12 market in 2018. Moreover, electronics segment is predicted to record fastest growth during 2019 to 2027. This growth is driven by high growth of electronics industry along with growing applications of polyamide 12 in the electronics industry. For instance, according to Singapore Economic Development Board’s statistics, the Singapore electronics industry was valued to be worth US$ 64.8 billion in 2015 and accounted for 31.6% of the total manufacturing production of Singapore in the same year.
  • Among regions, Asia Pacific accounted for the largest revenue share in 2018 and is also expected to record the fastest growth during the forecast period (2019-2027). China and Japan are growth engines in Asia Pacific polyamide 12 market. This can be attributed to significant growth of the automotive industry in the aforementioned countries. Polyamide 12 is increasingly being used by automobile manufacturers as a substitute for metal in various components such as fuel tubes and brake liners, in order to reduce the weight of the vehicle. According to the International Organization of Motor Vehicle Manufacturers (OICA), China sold 24.6 million vehicles in 2015 and this increased to 29.1 million vehicles in 2017.
  • 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.

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