Polyamide Market By Polyamide Type (Polyamide (PA6) , Polyamide (PA11) , Polyamide (PA12) , Polyamide (PA66) , Others) , By End-Use Industry (Textile, Packaging Material, Electrical Insulation, Automotive, Pharmaceutical) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Polyamide Market
The polyamide market was valued at $31.6 billion in 2023 and is projected to reach $55.1 billion by 2033, growing at a CAGR of 5.7% from 2024 to 2033.
Polyamide is a versatile, synthetically generated polymer of amide groups that is utilized in diverse industries such as automotive, textile, and sportswear. Nylon is the most common type of polyamide used in the formation of fabrics. The major properties of polyamide include its resistance to chemicals, abrasion, & corrosion; electromagnetic shielding; and low density. The key advantages that make polyamide highly applicable across diverse industries include their strength, affordability, quick assembly, and multi-functionality.
Increase in demand for high-performance and lightweight polymers in the consumer electronics sector is a key driver of the polyamide market. With the miniaturization of electronics, adoption of polyamides is witnessing a notable surge. In addition, rise in the popularity of 3D printing technology is augmenting the market development, as polyamides such as nylon powders are used as a component for the creation of objects. Furthermore, the perpetually expanding clothing and sportswear industry propels the market growth significantly. Currently, the development of bio-based polyamide is an emerging trend expected to prevail in future. To reduce their carbon footprint and promote circular economy, several industries are inclining toward bio-polyamides for their operations. Easy degradation and repurposing are the key attributes of these polymers that are projected to boost the sustainability efforts of industries.
Despite the development of bio-based polyamides, the conventional ones dominate the market currently due to their scalability and cost-efficiency. This poses environmental concerns as the polymer is developed from fossils and is highly non-biodegradable. These factors are projected to hamper the market development in the future. Moreover, stringent competition from diverse alternatives such as polycarbonates and polyolefins restrain the polyamide market growth significantly. On the contrary, rise in demand for lightweight materials in the electric vehicles (EVs) industry is expected to open new avenues for the market. According to McKinsey, the global demand for EVs is projected to increase by six times by 2030, with annual unit sales reaching approximately 40 million. This upsurge is poised to open new avenues for the polyamide market.
Segment ReviewThe polyamide market is segmented into polyamide type, end-use industry, and region. On the basis of polyamide type, the market is divided into polyamide(PA6), polyamide(PA11), polyamide(PA12), polyamide(PA66), and others. Depending on end-use industry, it is classified into textile, packaging material, electrical insulation, automotive, and pharmaceutical. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of polyamide type, the polyamide(PA6) segment held a high share of the market in 2023.
Depending on end-use industry, the textile segment acquired a high stake in the market in 2023.
Region wise, Asia-Pacific was the highest revenue generator in 2023.
Competition AnalysisThe major players of the global polyamide market include BASF SE, DuPont, Solvay S.A, Arkema S.A., Evonik Industries AG, SABIC, LG Chem, UBE Corporation, Domo Chemicals, and Mitsubishi Chemical Group Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy Polyamide TypePolyamide(PA6)
Polyamide(PA11)
Polyamide(PA12)
Polyamide(PA66)
Others
By End-Use IndustryTextile
Packaging Material
Electrical Insulation
Automotive
Pharmaceutical
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market PlayersBASF SE
DuPont
Solvay S.A
Arkema S.A.
Evonik Industries AG
SABIC
LG Chem
UBE Corporation
Domo Chemicals
Mitsubishi Chemical Group Corporation