Polyamide 12 Market Research Report Information by Type (General Grade, Reinforced, Plasticized, and Others), By Application (Automotive, Consumer Goods, Oil & Gas, Industrial Coating, Electricals & Electronics, and Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.

Global Polyamide 12 Market Overview

The Polyamide 12 Market Size was valued at USD 0.3 Billion in 2022. The Polyamide 12 market industry is projected to grow from USD 0.32 Billion in 2023 to USD 0.53 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.7% during the forecast period (2023 - 2032). Increasing usage in retail goods production and transition to Bio-Based components are the key market drivers contributing to the market’s growth and development.Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Polyamide 12 Market Trends

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  Growing usage in retail goods production is driving market growth.

  
  

The rising usage in retail goods production drives the market CAGR for polyamide 12. The usage of polyamide 12 market share in the car sector has increased in terms of products and services. The primary goal is to increase the ability to spend, which is expected to increase market demand. Growing demand for lightweight cars drives the polyamide 12 industry forward. Rising passenger vehicle sales, especially in emerging markets, are expected to drive consumer interest in polyamides in automobile manufacturing. Rising expenditure on the vehicle sector is a further driver driving the expansion of the automobile market.

Additionally, the trends indicate signs of a change towards bio-based goods that benefit the market, particularly during the current projection period. The growing preference for bio-based goods is projected to lead to the development of fresh product tangs, which means the market share is predicted to climb and expand throughout the forecast time frame. Polyamide 12 demand is predicted to expand steadily from the 3-D printing sector during the long term projection, with 3-D printing growing acceptance across all segments of society and increasing use by medical device makers.

The onset of the Covid pandemic disease has severely impacted the polyamide 12 industry's size. Consequently, tragedies and lack of access to assets and trained workers further destabilize the economic scenario over the projection period. The emergence of an outbreak has brought about tremendous destruction and disruption, which may risk the market's growth and expansion goals for the time. The lawmakers produced some intense recollections in grasping a reliable method in dealing with the arrival. Nevertheless, rising instances and less information about the disease and careful procedures will aid the marketplace to run over an ideal scenario in the market. The pandemic was a primary cause of the discomfort, and as a result, there was a necessity for forced lockdown and practical constraints, contributing to the misery. Due to the lockout, there had been a shortage of assets, unprocessed components, and competent work, which may have hampered the market's powers. Rising corporate speculation and asset availability are likely to promote new work initiatives for product improvements and diversification for the target audience dispersed throughout various places that are a part of the market.

For instance, by an Indian Brand Equity Foundation study published in February 2022, the car sector attracted US$ 30.78 billion in FDI in 2021. Furthermore, the Indian government anticipates that the vehicle sector will receive USD 8 to 10 billion in domestic and foreign investment by 2023. The expanding vehicle sector will help the overall market. Thus, it is anticipated that demand for Polyamide 12 will increase throughout the projection timeframe due to the rising usage in retail goods production. Thus, driving the Polyamide 12 market revenue.

Polyamide 12 Market Segment Insights

Polyamide 12 Type Insights

The Polyamide 12 market segmentation, based on type, includes General Grade, Reinforced, Plasticized, and Others. The reinforced segment dominated the market, accounting for 42% of market revenue (USD 0.1 Billion) in 2022. This is due to its comparably large-scale accessibility and Application across numerous business sectors and high prices for market items. The use of reinforced polyamide 12 types has expanded in several market segments, such as the automobile, aviation, and defense sectors. This will likely boost the segment's growth during the projected timeframe.

Figure 1: Polyamide 12 Market, by Type, 2022 & 2032 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Polyamide 12 Application Insights

The Polyamide 12 market segmentation, based on Application, includes Automotive, Consumer Goods, Oil & Gas, Industrial Coating, Electricals & Electronics, and Others. The automotive category generated the highest market revenue of about 43% (USD 0.1 billion) in 2022. The primary reason for this is its critical function in producing specialized car components based on their superior qualities. Rising passenger vehicle sales, especially in emerging markets, are expected to drive consumer interest in polyamides for automotive purposes. Consumption of oil & gas is increasing substantially, prompting oil & gas corporations to maximize the use of their resources and infrastructure during the projected timeframe.

Polyamide 12 Regional Insights

By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Polyamide 12 market area will dominate this market during the projected timeframe, owing to well-established polyamide 12 manufacturing bases in the North American region.

Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Polyamide 12 Market Share by Region 2022 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe region’s Polyamide 12 market is expected to grow significantly during the projected timeframe because the region’s healthcare industry is anticipated to be credited to the expansion. So the region's facilitation will assist the market development at a consistent rate over the projected timeframe. Further, the German Polyamide 12 market holds the largest market share, and the UK Polyamide 12 market is expected to grow and expand rapidly in the European region during the projected timeframe.

The Asia-Pacific Polyamide 12 Market accounts for the second-highest market share during the projected timeframe. This is because of the quick growth of consumer demand due to APAC growth efforts and increased industrialization, which will boost overall market growth. Moreover, China’s Polyamide 12 market dominates the market share, and the Indian Polyamide 12 market is expected to grow and expand steadily in the Asia-Pacific region during the projected timeframe.

Polyamide 12 Key Market Players & Competitive Insights

Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and product lines, which will help the Polyamide 12 market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with important market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Polyamide 12 industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the key business strategies organizations use in the Polyamide 12 industry to benefit customers and capture untapped market share and revenue. The Polyamide 12 industry has recently offered significant advantages to the automotive industry. Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major players in the Polyamide 12 market, including 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), is attempting to expand market share and demand by investing in research and development (R&D) operations to produce sustainable and affordable solutions.

Evonik Industries is a holding corporation specializing in producing specialty chemicals. It was formed in 1919 and had its headquarters in Essen, Germany. Food & Care, Energy Efficiency, Performance Resources, Solutions, and Other Operations are its business segments. In October 2021, Evonik began to supply subsequent ecological polyamide 12 molding materials to its clients. The business has revealed that some commercial VESTAMID products may now be manufactured using renewable energy sources at Evonik's Marl Chemical Park in Germany. It has a better eco-balance: its greenhouse gas emissions are reduced by 40%, while the use of land and consumption of water is reduced by more than 99%.

Mitsubishi Chemical Corporation is a company that makes chemicals. The company creates, manufactures, and distributes health and performance care goods, building supplies, and other substances. They offer building, medicinal, power, and petrochemical services. They provide a wide range of goods, from components to useful goods, to help build the basis of many industries. Mitsubishi and AMP, an emerging German biomaterials start-up, have engaged in a select joint research and commercial business contract on PBT powder material for commercial 3D printing in June 2020. This collaboration allows MCC and AMP to extend their 3D printing product line significantly.

Key Companies in the Polyamide 12 market include

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  Evonik Industries AG (Germany)

  
  


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  Toray Industries Inc (Japan)

  
  


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  EMS-Chemie Holding AG (Switzerland)

  
  


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  Merck KGaA (Germany)

  
  


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  RTP Company (US)

  
  


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  DowDuPont (US)

  
  


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  Arkema SA (France)

  
  

Polyamide 12 Industry Developments

October 2021: Evonik has begun to supply subsequent ecological polyamide 12 molding materials to its clients. The business has revealed that some commercial VESTAMID products may now be manufactured using renewable energy sources at Evonik's Marl Chemical Park in Germany. It has a better eco-balance: its greenhouse gas emissions are reduced by 40%, while the use of land and consumption of water is reduced by more than 99%.

January 2021: Ineos Styrolution has announced the preliminary findings of the PolySLS initiative, which is focused on developing a revolutionary saving energy styrenics-based substance for additive production, often known as 3D printing.

June 2020: Mitsubishi Chemical Corporation (MCC) and AMP, an emerging German biomaterials start-up, have engaged in a select joint research and commercial business contract on PBT powder material for commercial 3D printing in June 2020. This collaboration allows MCC and AMP to extend their 3D printing product line significantly.

Polyamide 12 Market Segmentation

Polyamide 12 Type Outlook

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  General Grade

  
  


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  Reinforced

  
  


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  Plasticized

  
  


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  Others

  
  

Polyamide 12 Application Outlook

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  Automotive

  
  


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  Consumer Goods

  
  


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  Oil & Gas

  
  


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  Industrial Coating

  
  


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  Electricals & Electronics

  
  


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  Others

  
  

Polyamide 12 Regional Outlook

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  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America