Polyamide 12 Market Witnesses High Growth Owing To Rising Applications Across End-Use Industries
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| Polyamide 12 Market |
Polyamide 12, commonly known as nylon 12, is a semi-crystalline polyamide belonging to the nylon family. It offers excellent toughness, strength and resistance to abrasion, chemicals and moisture. Polyamide 12 is used in various applications such as automotive, oil & gas, industrial coatings, electronics & consumer goods and sports goods & leisure due to its superior properties.
The Global polyamide 12 market is estimated to be valued at
US$ 405.54 Mn in 2024 and is expected to exhibit a CAGR of 6.4% over the
forecast period 2024 to 2030.
Key Takeaways
Key players operating in the polyamide 12 market are Ultralife Corporation,
EaglePicher Technologies LLC, EnerSys, Liberating Technologies, Inc., Panasonic
Corporation, Tadiran Batteries Ltd., Saft Groupe S.A., Arotech Corporation,
SHENZHEN KAYO BATTERY Co., Ltd, and Vitec Group plc. These players are focusing
on capacity expansion and new product development strategies to gain
competitive advantage in the market.
The polyamide 12 market offers significant growth opportunities owing to
increasing use of recycled polyamide 12 in end-use industries. Major automotive
OEMs and tier players are actively collaborating with polyamide 12
manufacturers to develop sustainable product solutions.
Key players are expanding their global footprint by setting up manufacturing
plants across Asia Pacific, North America, Europe and Middle East & Africa.
Rising expatriate population and rapid industrialization across developing
regions are creating strong demand for polyamide 12.
Market Drivers
- Growing automotive industry worldwide is a major factor driving the Polyamide
12 Market Analysis . Polyamide 12 finds widespread application in
engine and transmission components owing to its high temperature and chemical
resistance properties.
- Rising demand for high-performance plastics from electronics, industrial and
oil & gas industries is also augmenting the market growth. Polyamide 12
plastic offers excellent machinability and moldability which makes it suitable
for high precision applications.
Market Restrains
- Volatility in raw material prices impacts the overall production costs.
Adipic acid and other petrochemical intermediates used in polyamide 12
production witness significant price fluctuations based on crude oil prices.
- Strong competition from alternative plastics such as polyamide 6,
polypropylene and polycarbonate also restricts the polyamide 12 market growth
to some extent.
Segment Analysis
Polyamide 12 industrial market is the dominating sub segment accounting for
over 40% share in the overall polyamide 12 market. Polyamide 12 finds wide
ranging industrial applications due to properties such as resistance to stress
cracking, flex resistance, low density and good chemical resistance. Industries
such as automotive, electronics, oil & gas extensively use polyamide 12 in
components requiring high strength to weight ratio, fatigue resistance and
impact strength.
Polyamide 12 used in consumer goods segment is dominated by flexible packaging
sub-segment. Over 35% of polyamide 12 produced is used in food packaging,
non-food flexible packaging and films. Polyamide 12 has gained preference in
packaging due to properties such as high air and moisture barrier, resistance
to cracking at low temperature and retention of mechanical properties at
elevated temperatures. These properties make polyamide 12 ideal for packaging
of food, cosmetics and various other consumer goods.
Global Analysis
The Asia Pacific region dominates the global polyamide 12 market with over
40% share, primarily led by China, Japan and India. Rapid industrialization and
growth of end use industries such as automotive, electronics and packaging have
been the major drivers of polyamide 12 demand. The region is expected to
continue its dominance, expanding at strongest CAGR during the forecast period
due to growing production and consumption of polyamide 12 in the region.
Europe is the second largest market for polyamide 12 due to well established
end use industries and presence of prominent polyamide 12 producers. However,
the regional market is expected to witness comparatively slower growth except
Central and Eastern European countries. North America is expected to expand at
a steady pace during the forecast period with growing demand from various end
use industries.
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