[Online Quarterly Update] Polyamide demand in India stood at 206 KTPA in 2018 and is projected to grow at a CAGR of 6.41% during the forecast period. The product is a synthetic polymer with repeating amide linkages. It occurs naturally as protein, wool and silk whereas artificially as nylons, solidum poly and aramids. The high durability and strength offered by Polyamides makes it a supreme preference for fiber processing in textile, film processing in electrical and electronics and processing of engineering plastics for automotive industry.
Onset of Coronavirus in the final quarter of FY 20 followed serious repercussions in the automotive and textile industry, giving way to a tragic slump in the consumption of Polyamides across India. As India underwent lockdown to contain the spread of virus, manufacturing came to a grinding halt as major companies either idled their units or reduced their operating rates to considerably low on plummeting demand from these major consuming industries. With India consolidating huge revenue from textile industry through exports, spread of outbreak in major economies like China, Bangladesh and U.S. has led to an astonishing downtrend in Indian textile industry causing a decline in exports of artificial yarn by over 80 per cent in the quarter ending April 20. To mitigate the crises, Confederation of Indian textile industry has urged immediate relief funds from the Indian government in addition to the request for exemption of all taxes on materials utilized in the manufacturing process in order to cripple the production cost. By the end of FY 21, these relief protocols on proper consideration are anticipated to gradually revive the pitfall being faced in the domestic textile industry thereby, recovering the demand for artificial Polyamides like Nylon. On the positive front, demand for heat conducting Polyamides in electrical and electronic industry is expected to boom in the next five years under the initiative of self-reliant India taken up by the government to promote domestic manufacturing for better economic value.
In India, Polyamide is mainly processed as Nylon 6 and Nylon 66 and a minor share of it is processed as bio-based and specialty Polyamides. India accounts for sufficient production capacity for the product, hence, satisfactorily fulfills its domestic demand. However cheap imports majorly from Russia hinder the growth of the market as manufacturers are compelled to mark the prices in line with the import prices to prevent material injury. In September 2019, Toray Industries India started manufacturing of Polyamides under hopes of consolidating high revenue by stabilizing supplies and optimizing inventory and delivery.
Years Considered for this Report:
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
Objective of the Study:
• The primary objective of the study was to evaluate and forecast Polyamide capacity, production, demand, and demand – supply gap in India.
• To categorize Polyamide demand based on type, end use, region and sales channel in India.
• To study trade dynamics and company share in India Polyamide market.
• To identify major customers of Polyamide in India.
• To evaluate and forecast Polyamide pricing by grade in India.
• To identify and profile major companies operating in India Polyamide market.
• To identify major developments, deals and expansion plans in India Polyamide market.
There are four major players engaged in the production of Polyamide in India. These players satisfy majority of the domestic demand however, cheap imports from certain countries is a major challenge in the growth of Indian Polyamide market. The demand for Polyamide in India is catered by Gujarat State Fertilizers & Chemicals Limited, SRF Limited, Century Enka Limited, Toray Industries India Limited, BASF SE, Li Peng Enterprise Corporation Limited, Royal DSM, Arkema SA, DuPont, Kuraray Corporation Limited etc.
Polyamide prices in the domestic market are highly susceptible to the prices of feedstock Caprolactam. Since Caprolactam is produced by Phenol, a crude oil derivative, fluctuation in the value of crude oil also plays a significant role in determining Polyamide prices. Owing to the unprecedented slump in crude value at the back of declining demand by Coronavirus uncertainties, prices of Polyamide dropped by around 4% in FY 20 in comparison to the previous financial year.
To extract data for India Polyamide market, primary research surveys were conducted with Polyamide manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their comPolyamideitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for India Polyamide market over the coming years.
ChemAnalyst calculated Polyamide demand in India by analyzing historical data and demand forecast was carried out considering growth of the automotive sector and other end use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polyamide manufacturers and other stakeholders
• Organizations, forums and alliances related to Polyamide distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Polyamide manufacturers, distributors and policy makers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
In this report, the India Polyamide market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by Type
Nylon 6, Nylon 66, Bio-based and Specialty Polyamides
Market, by End Use
Textile, Automotive, Electrical and Electronics, Consumer goods and Appliances and Others
Market, by Distribution Channel
Direct/Institutional Sales, Retail Sales, Other Channel Sales
Market, by Region
North, West, East and South
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