by The Global Polyamide 12 Market is estimated to be valued at US$ 352.03 Bn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Polyamide 12, also known as nylon 12, is a semi-crystalline thermoplastic polymer. It exhibits properties such as high strength, durability, gas barrier properties, chemical resistivity and toughness. These characteristics make polyamide 12 suitable for use in various industries such as automotive, electrical & electronics, wires & cables and industrial applications. It is used in applications including hoses, gaskets, gears, wire covers and films among others. Its resistance to gasoline, oil, acids and alkalis makes it an ideal material for under-the-hood applications in vehicles.
Market key trends:
One of the major trends in the polyamide 12 market is its increasing use in 3D printing applications. Polyamide 12 powder is widely used in fused deposition modeling 3D printing due to its toughness, flexural strength and chemical resistivity. Industries such as aerospace, healthcare and automotive are increasingly adopting 3D printing for producing prototypes and functional parts requiring the performance properties offered by polyamide 12. Its recyclability also makes it a sustainable option for 3D printing. Rapid industrialization across regions such as Asia Pacific is expected to drive significant growth in the demand for 3D printing which will consequently increase consumption of polyamide 12 powder globally over the forecast period.
Porter’s Analysis
Threat of new entrants: Low barrier to entry and risk of investing in high capital and technology leads to low threat of new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute products and differentiated products from different manufacturers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials and differentiated products require customized formulations.
Threat of new substitutes: Threat of substitution is moderate as polyamide 12 competes with other engineering thermoplastics and materials.
Competitive rivalry: High due to large number of global and regional players offering differentiated products.
Key Takeaways
The Global Polyamide 12 Market is expected to witness high growth, exhibiting CAGR of 3.5% over the forecast period, due to increasing demand from automotive and electrical & electronics industries. Polyamide 12 provides excellent mechanical properties, chemical resistance, and dimensional stability.
Regional analysis North America dominates the global polyamide 12 market and is expected to continue its dominance over the forecast period. This is attributed to growing automotive production and presence of major players in the region. Asia Pacific exhibits the fastest growth in the polyamide 12 market owing to rapid industrialization, increasing disposable income, and growing automotive sales in China and India.
Key players operating in the polyamide 12 market are Arkema Group, DowDuPont Inc., Ensinger GmbH, Evonik Industries AG, UBE Industries Inc., Techmer PM LLC., Invista, EMS-Chemie Holding AG, RTP Company Inc., Toray Industries Inc., Formulated Polymers Limited, and Merck KGaA. Arkema Group and Evonik Industries AG are recognized as the global leaders in polyamide 12 production.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
