H1 2023: During H1 2023, the region of Asia-Pacific used the most polyamide 6 globally. In the Chinese market, however, Polyamide 6 prices were steadily falling. It was supported by the weak performance of the textile downstream industry, which was brought on by some textile companies' poor functionality. In the European market, a similar pattern of market behavior was seen. Because of a large amount of product inventories on the market in the region, polyamide 6 prices started to fall in Europe in January 2023. German exports had suffered due to the rise in inflation and economic crisis, which had a detrimental influence on consumer spending and trade because of weaker purchasing power and noticeably high funding costs. However, because of the sluggishness of the surrounding German market's economic activity, Polyamide 6 market was weak in April- June 2023. The low demand from the textile and automotive industries was linked to high interest rates and difficult financial circumstances. The market has not seen much movement in the textile industry's purchasing operations, which have remained stable. Due to decreasing demand circumstances and a concomitant slowdown in the expansion of economic activity, the German economy was hazy in June 2023. In the first three months of 2023, Polyamide 6 prices in the US market exhibited an upward trend. The price of feedstock was high and the demand by the downstream sectors was hazy in the US. However, in the period of April-June 2023, it was a weak market throughout the second quarter of 2023 due to the weak cost pressure from the feedstock Benzene and Caprolactam. The demand from the downstream textile industry was low, and the new orders from the merchants remained on a declining trend as the backlogs remained stable in June 2023.
The global Polyamide 6 market has reached a consumption of approximately 4000 thousand tonnes in 2022 and is expected to grow at a CAGR of 4.60% during the forecast period until 2035.
Polyamide 6, also known as Nylon 6, is a semi-crystalline polymer synthesized by the polymerization of caprolactam (C6H11NO). Caprolactam acts as a monomer during this reaction. The process involves heating caprolactam at 553K in the presence of inert Nitrogen. In the reaction, ring-opening of caprolactam occurs to form Polyamide 6. Polyamide 6 displays properties like high elasticity, tensile strength, and durability. Furthermore, its stability under high pressure and resistance to oils, chemicals, and bases make it a perfect substitute to conventional rubber for applications in numerous industries.
Polyamide 6 is abrasion resistant, electric current resistant, and flame resistance due to which it is utilized to make parts of electronics such as, computer motherboards, terminal blocks, circuit breakers, enclosures for power tools, connectors for mobile phones. Moreover, Polyamide 6 is used in the automotive industry to manufacture lightweight vehicle parts such as fuel caps, doors, exterior mirrors, wheel coverings, airbag containers, and hydraulic clutch lines. Other applications of Polyamide 6 include fishing rod strings, musical instruments, fibers, machine guards, replacement parts, seals, switchgear, carpets, fabric, curtain, upholstery items, ropes & nets, painting brushes, conveyer belts, racket strings, tents, and others.
The applications of Polyamide 6 in the automotives, textiles, and electronic industries are driving the Polyamide 6 market. It is due to excellent mechanical properties, resistant to abrasion and insulation properties, Polyamide 6 has a wide array of applications in these industries. The Polyamide 6 is expected to experience a tremendous growth and reach a volume of approximately 7200 thousand tonnes by the forecast period of 2035.
Across the globe, Asia Pacific is dominating as a consumer of the Polyamide 6 market. This region consumed approximately 34% of the global Polyamide 6 market. The Polyamide 6 demand by the Asia Pacific is primarily driven by its properties like resistance to abrasion and chemicals and find its application sin the automotive, electronics and electrical industry. Europe stands as the second largest consumer of Polyamide 6 market and is most likely to retain its position in the forecast period. On the global level, Asia Pacific has the largest number of production sites of Polyamide 6 with majority of the sites located in China.
Based on the end-user industry, the global Polyamide 6 market is segmented into Automotive, Electricals and Electronics, Textiles, General Industries, and Others. However, the Automotive industry is the dominating sector that consumed approximately with a market share of about 28% in 2022. Polyamide 6 is a more affordable and light-weight option compared to metals to manufacture automobiles. Therefore, the market for Polyamide 6 is anticipated to propel from the increased need for light-weight automobiles. The Electricals and Electronics Industry and the Textile Industry also holds prominent market share of Polyamide 6 and are anticipated to fuel the Polyamide 6 demand in the coming years.
Major players in the production of Global Polyamide 6 are Highshung Holding Group, Guangdong Xinhui Meida Nylon Co., Ltd., Formosa Chemicals & Fibre Corporation, LIBOLON, Dow Chemical, BASF SE, Fujian Jinjiang Technology, UBE Corporation, Royal DSM, LANXESS, KuibyshevAzot, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
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Objective of the Study:
• To assess the demand-supply scenario of Polyamide 6 which covers production, demand and supply of Polyamide 6 market in the globe.
• To analyse and forecast the market size of Polyamide 6
• To classify and forecast Global Polyamide 6 market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polyamide 6 market in the globe.
To extract data for Global Polyamide 6 market, primary research surveys were conducted with Polyamide 6 manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. 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 segments and projected a positive outlook for Global Polyamide 6 market over the coming years.
ChemAnalyst calculated Polyamide 6 demand in the globe by analyzing the historical data and demand forecast which was carried out considering the consumption of Polyamide 6 by end-use industries to produce. 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 6 manufacturers and other stakeholders
• Organizations, forums and alliances related to Polyamide 6 s 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 6 s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polyamide 6 s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in 2022
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4000 thousand tonnes
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Market size Volume by 2035
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7200 thousand tonnes
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Growth Rate
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CAGR of 4.60% from 2023 to 2035
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Base year for estimation
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2023
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Historic Data
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2015 – 2022
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Forecast period
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2024 – 2035
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Quantitative units
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Demand in thousand tonnes and CAGR from 2023 to 2035
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Report coverage
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Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
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Segments covered
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By End-Use: (Automotive, Electricals & Electronics, Textiles, General Industries, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com