The Polyamide (Nylon) market size is estimated to be USD 36.41 billion in 2024 and is projected to reach USD 53.76 billion by 2032, with a growth rate of 5.9%. Polyamides are the most important and commonly used types of polymers. They are naturally made of wool or silk and are made synthetically from nylon, polyamide 6, and aramid, among other materials.
By type, the market is segmented into Nylon 6, Nylon 66, Specialty Polyamide, and Others. Nylon 6 dominates the market and is anticipated to dominate the market over the forecast period. Nylon 6 is used in various applications because of its reliability, utility, cost, and performance. The excellent surface finish of the product even under reinforced conditions makes it suitable for applications where aesthetics is of prime importance.
Based on applications, the Polyamide Market is divided into Automotive, Electrical & Electronics, Packaging/Film, Industrial, Textiles, Consumer Goods & Appliances, and Others. The automotive segment holds the largest share in the market as nylon 6 and nylon 66 are used as an alternative to metal in under-the-hood parts in vehicles where their mechanical properties such as stiffness, and creep resistance help in improving the safety and comfort of cars. They help in reducing the weight of the automobile which enhances the efficiency of the vehicle, lowering the CO2 emissions.
Polyamides are most commonly used in the automotive industry for the manufacture of engine covers, valve covers, airbag containers, and various interior and exterior parts.
Manufacturers are promoting plastic chain tensioner guides to produce cars that are made of Nylon 6 since it offers better performance and also enhances safety and reduces noise generation. Nylon 6 is also used in automotive cooling systems, which allows the consolidation of various components that were once made of aluminum and plastics. Nylon 66 is also used in headlamp bezels.
In electrical and electronic applications, Nylon 6 and 66 grades are highly preferred for the manufacture of connectors, semiconductor chips, and switches.
Polyamide is widely used for the production of flexible film for the packaging of perishable food because of its unique combination of properties.
Stringent regulatory policies imposed by the Environmental Protection Agency (EPA) European Union (EU) and other international authorities regarding the use of Polyamides are anticipated to hamper the market growth during the forecast period. The availability of raw materials the volatile price trends, and the rising awareness towards the usage of polyamides can also hinder the market growth.
Asia Pacific is the largest market for Polyamide globally, and most of the growth is from China. China is the largest automotive market and is expected to boost the production of electric and hybrid vehicles in the forecast years. Volvo and Tesla Mottos recently announced to set up an electric vehicle manufacturing facility in China. In India, the Government is looking at providing incentives like lower taxes and interest rates on loans for consumers buying electric vehicles are opposed to conventional vehicles.
In 2022, Arkema has introduced a new series of recycled high-performance polyamides which are produced under the Virtucycle program at Arkema's recycling center in Italy.
In February 2023, Kuraray Co., Ltd. finished the construction of a new production facility in Thailand which will produce 13 kilotons of Polyamide 9T (Genestar). The company already has two manufacturing units that produce 13 kilotons of Polyamide 9T. The production capacity will triple after the commencement of the new manufacturing facility.
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