China Polyamide 6 Market Outlook
Prismane Consulting estimates the global Polyamide (PA) 6 demand to be around 5700 KT in 2016 of which China accounted for around 40% of the consumption. Textiles & Apparels consume a major share (around 56%) of PA 6 in the country. Automotive and electrical & electronics are expected to drive the demand for polyamides owing to increase in usage for weight reduction and ease of processing. Polyamides are used in production of air-intake manifold, valves, oil supply components and air systems. Automotive production declined between 2008 and 2009 on account of economic recession affecting the polyamides industry. Demand for most markets for engineering plastics like Polyamides are greatly influenced by general economic conditions.
As a result, demand for Polyamides largely follows the patterns of the leading world economies and end-user sectors. In 2016, China imported 412 kilo tons of PA 6 which was estimated to be 35 kilo tons less compared to its previous year. The country’s focus towards self-sufficiency has seen an increase in domestic production by an average of 11% and decrease in imports of around 13% since last 3 years. PA 6 capacity in China was around 850 kilo tons in 2005 while the current capacity is estimated to be about 2900 kilo tons. PA 6 production in China has grown more than thrice of that in 2005 with operating rates averaging 64%.
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