According to a recent report by Fact.MR, a market research and competitive intelligence provider, the global polyamide market is projected to reach a valuation of US$ 31.8 billion in 2024, with an expected CAGR of 3.6% from 2024 to 2034.

Polyamides, a group of textile materials composed of proteins and peptides, can be both natural (such as wool and silk) and synthetic (such as sodium poly aspartate and nylons). The automotive industry is increasingly utilizing polyamides in components like fuse boxes, oil containers, cylinder head covers, and bearings. Additionally, large infrastructure development projects, including smart cities, are providing new opportunities for polyamide suppliers. The growing focus on sustainability and stringent environmental regulations are further boosting the demand for bio-based polyamides globally.

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North America and East Asia are key markets for polyamide suppliers. Presence of strong end-use industries such as automotive, textile, electronics, and aerospace and defense are supporting the polyamide market growth in these regions.

Key Takeaways from Market Study

The global polyamide market is set for substantial growth, projected to reach US$ 45.2 billion by 2034. In the U.S., polyamide sales are expected to reach around US$ 7.4 billion by 2024, reflecting strong demand across industrial applications. Japan will also play a pivotal role in East Asia, commanding 26.8% of the regional market by 2034, thanks to its advanced manufacturing and innovations in polyamide use.

South Korea is anticipated to witness impressive growth, with a CAGR of 6.1% from 2024 to 2034, driven by demand in the automotive, electronics, and textile sectors. Additionally, Polyamide 6, known for its balance of properties, is forecasted to generate US$ 16.9 billion by 2034, due to its widespread use in fibers, engineering plastics, and films. These growth trends are supported by technological advancements and expanding applications worldwide.

“Increasing integration of sustainable manufacturing practices across several industries set to boost sales of bio-based polyamides over the next ten years”, says a Fact.MR analyst.

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Excellent Mechanical Strength and Thermal Stability of Polyamide 6

The polyamide market is divided into segments including polyamide 6, polyamide 66, and bio-based & specialty polyamides. Polyamide 6, known for its distinctive properties, is extensively used due to its ability to replace materials such as bronze, steel, aluminum, plastics, and gunmetal, leading to its growing application across various industries.

Polyamides are widely utilized by manufacturers of electrical protection devices and are also integral in producing fishing nets, travel accessories, and luxury carpets.

Competitive Landscape

The polyamide industry features a mix of established players and new entrants, creating a partially fragmented market with numerous opportunities. Key industry players are employing both organic and inorganic strategies to bolster their global presence.

In 2022, BASF expanded its Ultramid® polyamide production facility in Gujarat to enhance capacity and address increasing market demands. Similarly, Solvay introduced Omnix® ReCycle HPPA, a high-performance polyamide made from recycled materials, targeting the consumer appliances sector. These developments underscore the industry's focus on innovation and sustainability while reinforcing their market positions.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global polyamide market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights on the market based on type (polyamide 6, polyamide 66, bio-based polyamides & specialty polyamides) and application (engineering plastics, fiber), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).

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