Polyamide 12 Market is anticipated to display a CAGR of 5.23% to accomplish around USD 1,419.2 Million by the culmination of 2024. 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.
The viral infection's global effect has resulted in falling profits for stakeholder companies and considerably reduced global production. The halt in numerous automobile manufacturers' production facilities has led to a steep fall in the supply of tires in the automotive industries has been observed in the coming period. The disruptions in global supply chains have contributed extensively to developing the market share of polyamide 12. The time required to initiate COVID SOPs has also considerably slowed down the production of polyamide 12, the construction of new plants to expand current manufacturing capacities is estimated to restrict the development of the polyamide 12 markets in the forecast period.
Increasing Demand In The Automotive Industry
The escalated demand level from the automobile industry due to improved spending power is predicted to motivate the polyamide 12 market.
Growing Adoption in The Manufacturing of Consumer Goods
The enhancement in consumer products' manufacturing facilities is estimated to bolster the global market in the coming period.
Shift Toward Bio-Based Products
The inclination towards bio-based products will contribute to the creation of new product ranges and thus enhance the overall market share.
Availability of Low-Cost Substitutes
The accessibility to less expensive substitutes is estimated to restrict the forecast period's global market.
The reinforced segment reported the largest market stake by value and capacity in 2018 due to its comparatively large-scale use throughout countless industry verticals and high cost. The increasing usage of carbon-fiber-reinforced polyamide 12 in the automotive and aerospace & defense industries is expected to lift the segment's growth in the forecast period.
The automotive segment reported the prime market share by value and capacity in 2018 to its essential role in manufacturing specific automobile components based on its greater properties.
APAC to Gain Lead In The Forecast Period
The Asia-Pacific market was the leading regional market, stating for around 38% in 2018, and is anticipated to list a 6% CAGR thru the forecast period.
European Region to Display Strong Development
The European polyamide 12 is estimated to account for the global market's second principal share in 2018. The growth in the European region's based personal care industry is anticipated to facilitate the region's polyamide 12 markets.
The outstanding companies in the Polyamide 12 Market are
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.
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.