The latest market report published by Credence Research, Inc. “Global Polyamide 6 Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global market has acquired a market size of around USD 15.28 billion in 2020 and expected to reach a healthy CAGR of over 6.5% during the forecast period from 2021 to 2027 to reach around USD 22.30 billion in 2027.
Browse the full report at https://www.credenceresearch.com/report/polyamide-6-market
Polyamide 6 is a semi-crystalline polyamide used in natural fibres such as wool and silk. Nylon-6 is another common name for it. Polyamide 6 can be rendered artificially by polymerizing caprolactam. Its exceptional mechanical properties, such as resilience, elasticity and durability, are highly valued in a variety of industries. Furthermore, properties like the ability to endure temperature, high pressure and a wide range of chemicals make it a extremely valued commodity.
Key Trends in Global Market
Numerous Applications of Polyamide-6 is Boosting Market
Increased demand for Polyamide 6 owing to its broad application in various sectors including electronics & electrical, automotive, textiles, engineering plastics, packaging, films & coating, wires & cables, among others, is anticipated to drive the global Polyamide 6 market. Few properties, like reaction with bases and strong acids and high shrinkage in-molded parts, can, however, limit the global Polyamide 6 market’s development.
Global Market by Product Type Insights
Polyamide-6 (PA6) Fiber and Polyamide-6 (PA6) Resin are the two Product Type of this market. In 2020, polyamide-6 resin held the highest share in the market, and it is anticipated to reach at a CAGR of 5.9 percent over the upcoming years. Polyamide-6 resin is described as semi-crystalline engineering thermoplastic that is simple to process and color and can be used in injection molding and extrusion applications. It is one of the most widely used manufacturing thermoplastics because of its high chemical resistance.
Polyamide-6 (PA6) Resin Segment to Dominate the global market
Global Market by Application Insights
Global market is segmented based on Application as Automotive, Aerospace and Defense, and Extrusion, Electrical and Electronics, Packaging and Storage, Textile. In 2020, the leading sector was automotive with highest share in the global industry, which is expected to reach a CAGR of 5.5% from 2021 to 2028. Polyamide-6 composites are used in car parts to make them more environmentally friendly and to decrease their weight. This factor is anticipated to boost the segment’s growth in the near future.
Global Market by Regional Insights
In 2020, Asia-Pacific led the market across the world for this market, accounting for 38.7 percent. Amalgamation of factors like rapidly rising population, favorable government policies, rise in the automotive industry, growing electrical and electronics industries, and mounting textile production in developing nations such as India, China, Japan, and South Korea helped Asia-Pacific to dominate the market. Automotive industry topped the market share because of the high use of polyamide-6 in automobiles.
Global Market Competitive Landscape
Most prominent players in the global market include Arkema SA H, BASF SE, Honeywell International, Inc., Evonik Industries AG, Huntsman Corporation, Royal DSM N.V., Invista S.A.R.L., Asahi Kasei Corporation, and Ube Industries Limited. The report covers very detailed profiles of these key players.
Market Segmentation
Global Polyamide 6 Market by Product Type, 2015 – 2027
· Polyamide-6 (PA6) Fiber
· Polyamide-6 (PA6) Resin
Global Polyamide 6 Market by Application, 2015 – 2027
· Automotive
· Aerospace and Defense
· Extrusion
· Electrical and Electronics
· Packaging and Storage
· Textile
Global Polyamide 6 Market by Region, 2015 – 2027
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
Global Polyamide 6 Market: Key Players
· BASF SE
· Arkema SA H
· Asahi Kasei Corporation
· E.I. Dupont De Nemours & Company
· Evonik Industries AG
· Huntsman Corporation
· Invista S.A.R.L.
· Royal DSM N.V.
· Ube Industries Limited
Honeywell International, Inc.