MRFR Year End Sale
Polyamide 12 Market Research Report - Global Forecast till 2030

Polyamide 12 Market: Information By Type (General Grade, Reinforced, Plasticized and others), By Application (Automotive, Consumer Goods, Oil & Gas, Industrial Coating, Electricals & Electronics and others) - Forecast till 2030

ID: MRFR/CnM/6141-CR | August 2019 | Region: Global | 449 Pages         

Polyamide 12 Market

Polyamide 12 Market is projected to be worth USD 498.3 Million by 2030, registering a CAGR of 6.7% during the forecast period (2021 - 2030).

Segmentation

By Type General Grade Reinforced Plasticized others
By Application Automotive Consumer Goods Oil & Gas Industrial Coating Electricals & Electronics others

Key Players

  • Evonik Industries AG (Germany)
  • Toray Industries Inc (Japan)
  • EMS-Chemie Holding AG (Switzerland)
  • Merck KGaA (Germany)
  • RTP Company (US)
  • DowDuPont (US)
  • Arkema SA (France)

Drivers

  • Increasing Demand In The Automotive Industry
  • Growing Adoption in The Manufacturing of Consumer Goods
Speak to Analyst Request a Free Sample

Polyamide 12 Market Overview


Polyamide 12 Market is anticipated to display a CAGR of 6.7% to accomplish around USD 498.3 Million by the culmination of 2030. Polyamide 12 or Nylon 12 is a thermoplastic made from either laurolactam or ω-aminolauric acid, each containing 12 carbon atoms, so the name polyamide 12. Nylon 12 initially became accessible on a semi-commercial level in 1963. With a lower strength of amides than any other commercially offered polyamide, Nylon 12's material features offer outstanding abrasion forbearance. The vital applications of polyamide 12 consists of sports shoes, glasses, interior and exterior designs on automobiles, and permanent antistatic elements such as conveyor belts, electrical housings, and paint spray hoses.


COVID 19 Analysis


The polyamide 12 market size has been affected badly because of the arrival of Covid pandemic sickness and subsequently, the misfortunes and inaccessibility of assets and skilled workers are further, demolishing the economic situations during the forecast period that will end in 2028. The appearance of the pandemic has caused a significant level of devastation and disturbance that may hamper the development and extension objectives of the market set for the period. The worldwide legislatures made some intense memories in comprehending a dependable manner in handling the arrival yet the rising cases and less information about the illness and careful steps will help the market run over a superior situation in the worldwide market premises. The pandemic has been a significant reason for the inconvenience and subsequently, there was a need to force lockdown and practical limitations that had added to the wretchedness. Because of the lockdown, there was a shortfall of assets, unrefined components, and talented work that may hamper the abilities of the market.


In any case, the polyamide 12 market is probably going to observe great extension during the ongoing forecast period of 2021-2028. The rising business sector speculations and accessibility of assets are probably going to support the innovative work projects for item upgrades and portfolios for the interest group that is spread in different worldwide areas that are a piece of the overall market.


Competitive Landscape


The polyamide 12 markets are witnessing competition because of the following regions:



  • Evonik Industries AG (Germany)

  • Toray Industries, Inc (Japan)

  • EMS-Chemie Holding AG (Switzerland)

  • Merck KGaA (Germany)

  • RTP Company (US)

  • DowDuPont (US)

  • Arkema SA (France)


Market Dynamics


Drivers


There has been an escalated demand for the use of polyamide 12 market size in the way of products and services in the automobile industry. The main aim behind this is the improved spending power that is predicted to have an escalated demand for the market during the ongoing forecast period that will be ending in 2028.


Restraints


The polyamide 12 market trends show that there has been a rise in the availability of low-cost substitutes. The rising accessibility to less expensive substitutes is likely to restrain the market from growing during the ongoing forecast period.


Technology Analysis


There has been an enhancement of consumer products for the manufacturing facilities that are estimated to provide the polyamide 12 market share lucrative opportunities for growth and expansion. Also, the market trends show that there has been a shift towards bio-based products that are advantageous for the market especially during the ongoing forecast period. The rising inclination towards bio-based products is likely to contribute to the creation of new market product tangs and hence, the market share is expected to rise and expand during the ongoing forecast period that will be ending in 2028.


Study Objectives



  • The market report means to help the interested consumer groups to have an idea concerning the progressions and imaginative things that the market has in store during the forecast period. The report further expects to lead an emotional market assessment that will help in making better hypothesis decisions and further, help the market specialists to predict the CAGR and the ordinary market regard before the completion of the period.

  • The report helps in understanding the advancement components that will lead the market towards expanded improvement for the period. The market report further guides in understanding the creating market troubles and the reason for the overall market division. The report helps with understanding the capacity of these parts to remain at a respectable rate during the ongoing forecast period for the market.

  • The report similarly helps the group and monetary patrons fathom the ferocious showcasing edge by having an idea in regards to the new enhancements that are being endeavored by the prominent market players throughout the globe and during the ongoing forecast period that will end in 2028.


Segment Overview


The polyamide 12 market size is likely to witness excellent growth patterns for the ongoing forecast period that will be ending in 2028 owing to the market segmentation that is expanding and meeting the rising needs of the target audience that is spread in an array of locations. The market segmentations are mentioned as follows:


Based on the Market Type


The reinforced segment of the market is reported to emerge as the largest market stake by value and capacity during the historic forecast period that had ended in 2019 due to its comparatively large-scale availability and use throughout countless industry verticals and high cost of the market products. There has been an increased usage of carbon-fiber-reinforced polyamide 12 in various market sectors like the automotive and aerospace and defense industries that are expected to lift the segment's growth in the forecast period that will be ending in 2028.


By Application


The automotive segment of the global market is reported to emerge as the prime market share by value and capacity during the historic forecast period that had ended in 2019. The main reason behind this is its essential role in manufacturing specific automobile components that are based on their greater properties.


Regional Analysis


The polyamide 12 market trends show that the market is likely to witness prominent domination regarding growth in the APAC region. During the historic forecast period that had ended in 2019, the market was valued at a CAGR of 38%. For the ongoing forecast period, the market is anticipated to grow at a GR of 6%. Amongst the other market regions, the European region is likely to display strong development for the polyamide 12 market share. The growth is likely to be attributed to the region’s care industry and hence, the region’s facilitation will help the market grow at a reliable rate during the period ending in 2028.

Recent Developments

October 2021- Evonik has begun to offer its customers the following sustainable polyamide 12 molding compounds. The company has announced that it is now possible to produce selected commercial VESTAMID products by using sustainable energy at Evonik’s Marl Chemical Park based in Germany. the life cycle evaluations of the compounds received a certificate from the TÜV Rheinland in September 2021.
For over 50 years, at the Marl Chemical Park based at the North Rhine-Westphalia, the company has been manufacturing polyamide 12 with the use of steam and electricity generated, thus its state-of-the-art and effective joint heat and power plants. With the use of biomethane obtained from the waste generated in the plants, the emissions of carbon dioxide generated during the production of VESTAMID RFP is lowered by over 40 percent, with the land use and water consumption being the same.
Evonik, since 2009, has also commercialized VESTAMID Terra molding compounds based on monomers derived from castor oil. VESTAMID RFP displays an enhanced eco-balance: the carbon footprint is lowered by 40 percent, as land use and water consumption are more than 99 percent lower.

Jan 2021
Ineos Styrolution has declared the first results of the PolySLS project, which is determined on developing a novel energy-saving styrenics-based material for additive manufacturing, otherwise identified as 3D printing. The project has shown meaningful overall energy savings of up to 67% have been accomplished when taking the entire life cycle of a novel styrenic polymer compound into account as associated with traditional polyamide 12 (PA12). A direct energy saving of 25% was attained from the 3D-printing equipment when exploiting the novel styrenics polymer, stemming from lower process temperatures and quicker heating and cooling phases. This also amended the time required for comprehensive printing jobs, with processing times 7.5 % shorter than PA12.


Nov 2020 Evonik Germany's construction work on the principal investing to date by the specialty chemicals corporation at more than USD 473 million is progressing well. The first plant was accomplished on schedule in mid-October and is presently being made to order. Other plants will follow by the first quarter of 2021, with full completion expected in the first half of 2021, a statement said. Evonik will increase its overall capacity for the polymer by more than 50%. Polyamide 12 is an essential part of their unique applications' strategic development. Polyamide 12 is used in attractive growth markets such as gas piping, sports, automotive engineering, and 3D printing.


Oct 2020 AerosUSA is offering its PA 12 highly flexible and PA12-D heavy grade flexible conduits in stock that are ready for delivery. AerosUSA is also revealing a synergistic product to these conduits recognized as the RQMR-Move. The RQMR-Move is a single addition to its conduit clamping systems, allowing greater flexibility at the clamp in continuous vibration and movement usages. The PA12 conduit is very flexible and mass-produced from high grade, mainly devised polyamide 12 materials. This product has been executed in robotic applications requiring constant bending and flexing in the course of manufacturing production processes.


June 2020 Mitsubishi Chemical Corporation (MCC) and AM Polymers GmbH (AMP), a new German materials start-up business, have entered into a select joint development and commercial business agreement on polybutylene terephthalate (PBT) powder product for industrial 3D printing. This partnership offers MCC and AMP an opportunity to expand their product portfolio for 3D printing further. SLS/PBF is a process by which users can achieve complex geometries at a short production lead time. Coupled with good mechanical properties, PBT powder has much lower moisture absorption characteristics than polyamide 12, a common material for SLS and PBF processes. Therefore, MCC and AMP imagine new PBT powder products for industrial applications such as aerospace and automotive. This unique collaboration enables MCC and AMP to accelerate development in 3D printing further.


Report Overview


The polyamide 12 market report conducts a deep study and analysis of the market based on the current market trends and the effect on them due to the coronavirus outbreak. The market report helps the potential market buyers and investors understand the market factors that will lead the market towards predicted CAGR growth and revenue by the end of the forecast period in 2028. The report further highlights the competitive factors of the global industry.



Report Scope:

Report Attribute/Metric Details
  Market Size

  • 2024: USD 1,419.2 Million
  • 2030 : Significant value
  •   CAGR   5.23% (2022-2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type, Application and End-Use
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Evonik Industries AG (Germany), EMS-Chemie Holding AG (Switzerland), RTP Company (US), Merck KGaA (Germany), DowDuPont (US), Arkema SA (France), Toray Industries, Inc (Japan), Ube Industries, Ltd. (Japan), Ensinger (Germany), Formulated Polymers Limited (India)
      Key Market Opportunities   Shift Toward Bio-Based Products
      Key Market Drivers

  • Increasing Demand In The Automotive Industry
  • Growing Adoption in The Manufacturing of Consumer Goods


  • Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :

    Polyamide 12 market is projected to grow at approximately 5.23% CAGR during the assessment period (2019-2024).

    Polyamide 12 market is estimated to reach a valuation of approx. USD 1,419.2 MN by the end of 2024.

    The value of the global Polyamide 12 market had reached USD 1,065.1 MN in 2018.

    Asia Pacific holds the largest share in the global Polyamide 12 market, followed by Europe and North America, respectively.

    Ube Industries, Ltd. (Japan), Evonik Industries AG (Germany), RTP Company (US), Toray Industries, Inc (Japan), EMS-Chemie Holding AG (Switzerland), DowDuPont (US), Formulated Polymers Limited (India), Merck KGaA (Germany), Ensinger (Germany), and Arkema SA (France), are some of the top players operating in the global Polyamide 12 market.