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 . 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:
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