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Market ScopeMarket Research Future (MRFR) expects the Polyamide 12 Market to secure a growth rate of 5.23% between 2022 and 2030. By 2030-end, the global market is touted to reach close to USD 1,419.2 Million, estimates MRFR.
Key Players: 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)
Market Boosters and Barriers Polyamide 12, a thermoplastic polymer, is developed from either ω-aminolauric acid or laurolactam. It has a number of applications in different end-use sectors including packaging, electric and electronic, automotive and consumer goods like leisure and sports equipment. It also finds use in exterior and interior designing, permanent antistatic components like conveyor belts and electrical housing. Considering the extensive application scope of the polymer, it is quite possible that the market demand should shoot up in the years ahead.
Surge in the number of government initiatives can present lucrative opportunities to the players active in the global market in the ensuing years. In 2020, negotiations between the US government and the North American Free Trade Agreement worked in favor of the former, which ended up in the lifting up of the ban on Mexican-made cars to be sold in the country. Polyamide 12’s extensive use in skin care as well as nail care products like skin fresheners, nail paints and hand creams, also enhances the market size.
Vendors are increasingly emphasizing on technical integration throughout the value chain, which has raised the competition level in the global market. Rising use of modern technologies like drones, robotics, Internet of Things (IOT), artificial intelligence, cloud computing, and blockchain has transformed numerous aspects of the manufacturing process. These technologies have not only bolstered the safety level during manufacturing but also fostered efficiency and reliability, while facilitating accurate monitoring across the supply chain.
Segmental Analysis The market for polyamide 12 has been considered with respect to type and applications.
Different types of polyamide 12 are plasticized, reinforced, general grade, and others. Out of these, the biggest share has been seized by the reinforced segment in the global industry, as fiberglass reinforced polyamide 12 finds numerous applications in the automotive and aerospace & defense industries. As a result, the segment could capture a CAGR of more than 5% between 2022 and 2030.
The key applications of polyamide 12 listed in the MRFR study are electricals & electronics, consumer goods, automotive, industrial coatings, oil & gas, and others. Among these, the leading spot has been secured by the automotive segment, which acquired the largest share and touched USD 392.6 million in 2020. The automotive industry extensively uses polyamide 12, with several components made of the polymer in view of its impressive properties. Apart from this, mounting preference for light weight vehicles in the automotive sector to cut down the emission levels has also raised the demand for polyamide 12.
Regional Outlook The polyamide 12 industry can be regionally segregated into Europe, Latin America, Asia Pacific (APAC), the Middle East & Africa (MEA), as well as North America.Asia Pacific in 2020, captured the highest share of close to 38% and was therefore, identified as the top performer in the global market. Apart from this, the APAC market could continue to thrive at a rate of 6% between 2022 and 2030, with China emerging as the leading contributor to the growth. China houses the biggest automotive manufacturing sector in the world and the fact that the automotive industry makes extensive use of polyamides should benefit the regional market in the following years. The Chinese aviation industry, on the other hand, has been performing significantly well and is project to gather close to 6,000 new airplanes by 2035. The soaring number of passengers is compelling the government to spend considerably on the production of new flights, which can mean robust demand for polyamide 12 and other types. Europe will retain its second position in the global market throughout the evaluation timeline, thanks to the rapidly growing consumer goods sector in line with the high-income levels as well as low inflation rate. Additionally, most of the firms in the region are pursuing competitive strategies to leverage the business opportunities, creating alliances, or acquiring other companies to widen their customer bases while further establishing their presence.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/polyamide-12-market-7610
Eminent Companies DowDuPont (US), Ensinger (Germany), Arkema SA (France), RTP Company (US), Toray Industries, Inc (Japan), Ube Industries, Ltd. (Japan), Formulated Polymers Limited (India), Merck KGaA (Germany), EMS-Chemie Holding AG (Switzerland), Evonik Industries AG (Germany), are the important contenders in the market for polyamide 12.These companies mostly focus on launching new products and enter deals that include mergers and acquisitions, make strategic investments and foster production capacity to capitalize on the industry opportunities.
About Market Research Future:Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.Contact Us:Market Research Future®99 Hudson Street,5Th FloorNew York, New York 10013United States of America Phone:+1 628 258 0071(US) +44 2035 002 764(UK)
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