POLYAMIDE 12 MARKET ANALYSIS

Market Challenges And Opportunities

Drivers

Increased demand for lightweight automobiles propels growth of the polyamide 12 market. Increased passenger car sales, particularly in emerging economies  anticipated to boost demand for polyamides in automotive applications. Rising investments in the automobile sector is another reason for growth of automobiles market. For instance, according to Indian Brand Equity Foundation report in February 2022, the automobile sector received cumulative equity Foreign Direct Investment inflow of about US$ 30.78 billion between April 2000 and September 2021. Moreover the Government of India expects automobile sector to attract US$ 8-10 billion in local and foreign investments by 2023. Growing automobile industry would benefit growth of the polyimide 12 market.

Nylon 12 has broad range of applications in automotive sector, owing to the exceptional characteristics of the material including resistance to cracking under stress, excellent chemical resistance, lower moisture absorption, superior abrasion resistance, lower melting point, higher elongation, lightweight, brilliant control strength, which is driving market growth for polyamide 12 globally. Further, it is also utilized to produce multilayer pipes for e.g. hydraulic lines, pneumatic brake lines, and fuel pipes for engineering of automobiles globally.

Market Restraints

High competition from manufacturers of hybrid polymers and composites is one of the major factors that is expected to hamper growth of market over the forecast period. Moreover, instability in cost and the presence of substitutes to polyamide 12 which offer low cost material is expected to obstruct the global polyamide 12 market growth during the forecast period.