Growing Demand for Polyamides is driving the growth at a CAGR of Moderate during the forecast period 2023 to 2032

Market Research Future (MRFR) has published a cooked research report on the “Global Polyamides market” that contains the information from 2019 to 2032. The Polyamides Market is estimated to register a CAGR of 6.03% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the Global Polyamides Market— EMS-CHEMIE HOLDING AG, ASCEND PERFORMANCE MATERIALS, BASF SE, DUPONT, Huntsman International LLC, Lanxess, DSM, Solvay, EVONIK INDUSTRIES AG, and Arkema

Market Highlights

The Global Polyamides Market is accounted for to register a CAGR of moderate during the forecast period and is estimated to reach USD significant value by 2032.

The major factors driving the growth of the global polyamide market are the improved properties of polyamides that are suitable for a wide range of applications in various industries. Polyamides are important in the automotive industry because they are used to produce a variety of automotive components. As the automotive industry expands and the demand for electric vehicles increases, there is a need for lightweight, high-performance materials such as polyamide to improve vehicle efficiency. This factor has a great opportunity to drive the market demand for polyamides. In addition, polyamide is widely used in a variety of consumer products due to its durability, strength, and versatility. The demand for polyamides is increasing due to increasing urbanization and increasing consumer demand for these products.

Moreover, textile industry plays an important role in the Asian economy and is expected to continue to grow as a key industry in the region in the coming years. Textile production is characterized by labor-intensive methods and is closely linked to the agricultural sector due to its high dependence on key raw materials such as cotton and jute. India and China are the world's largest producers of cotton, which is widely used in textile production. Textile manufacturers are also shifting their production bases to Asian countries due to low-cost and skilled labor, favorable macroeconomic conditions, and abundant raw materials, which are favorable for the growth of the textile industry in the region.

Polyamides are used in large-scale electrical to miniature electronic applications, as they help keep the circuits operating reliably and safely under a variety of conditions. Considering its unique mix of properties, including best-in-class electrical insulation and flame retardancy, PA 6, 6 is known as the ideal material for new energy, consumer technology, and residential and commercial electronic and electrical applications. In home appliances, polyamide is used in power connectors, cable glands, appliance connectors, and wire-to-board connectors, among others.

The countries in Southeast Asia are gaining momentum in the electronics market. For instance, emerging economies such as Malaysia, Thailand, and Singapore have grown to become major global electronics manufacturing hubs owing to the presence of several electronic manufacturing service (EMS) companies. Moreover, the electronics industry in the region has benefitted from ASEAN’s integrated production networks. In addition, the expansion of the digital economy, the convergence of fixed, mobile, and broadcast networks and the increasing connectivity of devices and objects is reshaping the manufacturing and services sectors in Asia.

According to India Brand Equity Foundation, the electronics manufacturing saw an exponential growth in India to reach USD 67.3 billion in 2020-21 from USD 37.1 billion in 2015-16. Besides, the Government of India is supporting the electronics industry by setting up electronic hardware technology parks and special economic zones and creating a favorable environment for foreign direct investments. The supportive government initiatives by the Government of India are further expected to support the growth of the electronics industry in the country. For instance, in 2019, the government applied the Modified Special Incentive Package Scheme (MSIPS), under which the central government will invest around USD 1.7 billion in benefits to the Indian electronics industry in the next five years. Also, China is one of the major countries in the global semiconductor market and the world’s significant manufacturers of electronic products. Considering the healthy growth of the electronics industry in the emerging economies of Asia-Pacific, the demand for polyamide in the regional market is projected to rise significantly in the coming years.

Alternatively, Synthetic polyamides are predominantly produced using the monomers, adipic acid and hexamethylenediamine (HMD). The price of these monomers is closely linked to crude oil prices, the major determining factor for raw material pricing, as crude oil is the primary feedstock used in adipic acid production. The crude oil & natural gas prices have been continuously fluctuating in the last few years, which is consequently affecting the cost of polyamide production. In 2017 the crude oil prices were USD 350.86 per cubic meter which then increased to USD 448.53 per cubic meter in 2018. The crude oil prices then witnessed a significant drop in 2020 and its prices were around USD 263.15 per cubic meter. Again, the crude oil prices increased to USD 637.28 per cubic meter in 2022.  With the oversupply of crude oil, there was a sudden drop in the price due to less demand. The fall in demand was observed mainly from the US, China, and other European countries. The other factor that led to a fall in crude oil prices was the pricing from the Organization of Petroleum Exporting Countries (OPEC). The oil price is decided based on different factors such as the economic growth of countries, weather conditions, demand and supply analytics, and the presence of alternative energy resources. The fluctuating crude oil prices have affected the production of petrochemicals and, consequently, the production of adipic acid. Thus, the volatile raw material prices is expected to restrain the growth of the global polyamide market during the forecast period.

Access full report @ https://www.marketresearchfuture.com/reports/polyamides-market-5264

Segment Analysis

The Global Polyamides Market has been segmented based on Type, Class, Application, End-use industry, and Region.

The Polyamides Market has been categorized based on type into Bio Polyamides, Specialty Polyamides. Between these, Bio Polyamides is projected to dominate the Global Polyamides market revenue through the projected period as estimated by MRFR analysts. Bio-based polyamides are made from renewable raw materials, providing an eco-friendly alternative to oil-based polyamides. Bio-based polyamides show ideal properties such as high mechanical strength, high crystallization rate, low moisture content and high melting point. High precision biopolyamides provide a sustainable solution using bio-based polymers derived from plant-based materials. Castor oil is the main source of biobased monomers for most polyamides, accounting for 40–60% of castor beans. During production, biopolyamide reduces CO consumption by 62% and fossil fuel consumption by 23%.

Based on Class, the Polyamides Market has been segmented into Aliphatic Polyamides (PA 4,6, PA 6,6, PA 6, PA 6,10, PA 6,9, PA 11, Others), Semi-Aromatic & Aromatic Polyamides (PA 6T, PA 6I, Poly (p-phenylene terephthalamide), Others). Among these, Aliphatic Polyamides is projected to dominate the Global Polyamides market revenue through the projected period as estimated by MRFR analysts. Aliphatic polyamides (nylon class) are considered high performance plastics. This polyamide has a high electrical and temperature resistance. In addition, aliphatic polyamides are very flexible and can be used in a wide range of applications in the automotive, automotive, consumer goods and E&E industries.

Based on application, the Polyamides Market has been segmented into fibers, wire & cables, 3D printing, sports equipment, engine components, brakes & transmission parts, household goods & appliances, and others. Among these, 3D printing is projected to dominate the Global Polyamides market revenue through the projected period as estimated by MRFR analysts. In 3D printing, polyamides are used as filaments in Fused Deposition Modeling (FDM) processes and as powders in powder bed processes such as HP Multi Jet Fusion (MJF) or Selective Laser Sintering (SLS). For HP MJF and SLS processes, PA12 is used. This material is considered reliable and "one-size-fits-all". It is used in additive manufacturing due to the nature of the material and its excellent appearance. High stability and impact resistance make this material ideal for practical applications and models. It also has good resistance to UV, chemicals, and temperature.

Based on end users, the Polyamides Market has been segmented into Automotive, Electrical & Electronics, Textile, Aerospace & Defense, Packaging, Consumer Goods, and Others. Among these, Automotive is projected to dominate the Global Polyamides market revenue through the projected period as estimated by MRFR analysts. It is due to the increased usage of polyamide in the manufacturing of lightweight vehicles. Polyamide is used in the production of automotive parts, such as glass-reinforced plastics (GRP)-based structural parts, air intake manifolds, engine covers, rocker valve covers, airbag containers, and various interior & exterior automotive parts. The demand for polyamide is also rising for use in the production of electronic connectors, semiconductor chips, switches, and others.

Regional Analysis

By region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the Asia Pacific emerged as the leading and the fastest-growing region Polyamides has witnessed significant growth in several regions, Asia Pacific, led by China, India, and Japan, is expected to grow at the fastest CAGR during the forecast period. The availability of low-cost raw materials and labor and increasing consumption capacity are the main drivers of market growth in this region. In addition, government policies and the large market have yet to be implemented, prompting international independent polyamide manufacturers to set up production and distribution units in the region. 

Voltage and load fluctuations are more common in the Asia-Pacific region than in the developed countries of Europe and North America. Power fluctuations increase the demand for power protection equipment that can reduce financial losses. Specialty polyamides are increasing in demand from electrical and electronic manufacturers because they are better plastic parts that can be easily integrated with other parts, making the design process easier. A growing middle-class population, rising per capita income and rising living standards in emerging economies will support regional growth. The rapidly growing automotive manufacturing industry is also supplementing the product demand in the region.

Key Findings of the Study

• The Global Polyamides Market is expected to reach USD signifiant value by 2032, at a CAGR of moderate during the forecast period.


• Asia Pacific region accounted for the fastest growth in the global market.


• Based on Type, Bio-based polyamides segment was attributed to holding the largest market in 2022.


• Based on Class, Aliphatic Polyamides segment was attributed to holding the largest market in 2022.


• Based on Application, the 3D Printing segment was attributed to holding the largest market in 2022.


• Based on end use industry, the Automotive segment was attributed to holding the largest market in 2022.


• EMS-CHEMIE HOLDING AG, ASCEND PERFORMANCE MATERIALS, BASF SE, DUPONT, Huntsman International LLC, Lanxess, DSM, Solvay, EVONIK INDUSTRIES AG, and Arkema