Monday, May 2, 2022

Polyamide 6,6 Market Size, Share | Global Industry Analysis Report and Forecast, 2035 | ChemAnalyst

According to the ChemAnalyst report, “Polyamide 6,6 Market Analysis: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, End-User Industries, Type, Distribution Channel, Regional Demand, 2015-2035”, the polyamide 6,6 market witnessed a demand of around 1.34 million tonnes globally in 2021, and is projected to grow with a CAGR of 5.05% until 2035 owing to its rising applications in key end-use sectors such as automotive, electrical & electronics, textiles, general industrial goods & others.

Polyamide 6,6 are polymers that come under the category of engineering plastics. They have unique features of durability, reliability, high tensile strength, and heat resistance; thus, they are used in a wide range of industrial applications. It is commercially produced by reacting Adipic Acid with Hexamethylenediamine followed by a polymerization reaction.

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Polyamide 6,6 spans a large number of end-use markets. The primary end-use sector is automotive, where nylon 6,6 blends replace heavy-weighted metal parts of vehicles to deliver high fuel efficiency. Automotive parts include fan shrouds, intake manifolds, air cleaners, fuel vapor canisters, air cleaners, electrical components, oil pans, and radiator-ending tanks. The increasing sales of electric vehicles have further boosted the demand for polyamide 6,6 in the automotive sector. Production of electrical & electronics components, such as parts for solar cells, wind panes, electronic appliances, etc., is another essential end-use sector that is driving the demand for polyamide 6,6. In the textiles industry, polyamide 6,6 found its applications in fabrics, apparel, carpets & industrial yarns, etc. Many domestic and general industrial goods such as consumer goods, sportswear, home furnishings, recreational equipment, food packaging, recharge sockets, battery cell covers & housings, etc., are made using nylon 6,6.

The growing population coupled with rapid urbanization and industrialization along with increased per capita income have prompted improved quality of life, thus creating more demands for polyamide 6,6 for automotive, industrial, electronics & electrical, textiles and general industrial goods.

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Region-wise, Asia Pacific, with its large population, holds the most prominent demand share of polyamide 6,6, having consumption of more than 32% in the region. China, Japan, South Korea, India & Taiwan are the leading markets in the region, and further growing development projects are driving the market in the Asia Pacific region. The polyamide 6,6 market is expected to increase through 2035, fueled by the ongoing automotive, electronics & textile sector in the developing south Asian region. Europe & North America hold the second & third-largest market share in the global market to make this product owing to the growing consumption from end-user industries. MEA & South America region hold the third & fourth largest share of polyamide 6,6 in demand. They import a significant portion of their demand from the Europe & North America market.

According to ChemAnalyst report, “Polyamide 6,6 Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2035”, key players in the polyamide 6,6 market globally include Invista (Global), BASF SE (Global), Lanxess (Global), Du Pont De Nemours Inc. (USA), Ascend Performance Materials (USA), Solvay (France, Spain), Royal DSM Nv. (Netherlands), Repol-Ube (Spain), RadiciGroup Spa Chemicals & Plastics (Italy), Zig Sheng (Taiwan), Lealea Enterprise Co. (Taiwan), Sarla Performance Fibers Ltd. (SPFL) (India), Huafon Group (China), Hangzhou Dikai Industrial Fabrics Co., Ltd. (China), Jiangsu Huayang Nylon Co. Ltd. (China), Zhejiang Mesbon Chemical Fibre (APL) (China), Henan Shenma Chemical Co. Ltd (China), and Others.

“Polyamide 6,6 is identified as a key engineering plastic, which is employed in the vast majority of End-Use industries. Hence, its broad range of industrial & manufacturing applications is projected to fuel the polyamide 6,6 market growth in the forecast period. Fast-growing industries such as automotive, electrical & electronics, textiles, personal, general industrial goods, and others are heavily dependent on it. Polyamide 6,6 predominantly finds its application in vehicle production, followed by textiles & apparels and the consumer goods industry. Owing to all these applications of Polyamide 6,6, a surge in its demand is projected to drive its market growth over the forecast period and offer various openings for manufacturers to expand their existing capacities and fill the demand-supply gap in the future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.

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