POLYAMIDE 12 MARKET ANALYSIS
Global Polyamide 12 market was valued at US$ 313.9 Billion in 2021 in terms of revenue, exhibiting a CAGR of 5.9% during the forecast period (2022 to 2030).
In terms of revenue, Asia Pacific is expected to dominate the polyamide 12 market during the forecast period. The Asia-Pacific had the major market share of nearly 33.4% in 2021, as a result of swift industrial growth in the region. Emerging economies such as India, China, and Japan are considered as major contributors to the polyamide 12 market growth in the Asia Pacific region. India, and China are focusing mainly on improving their infrastructure and promoting their manufacturing industry.
Market Trends
Automobile manufacturers are focusing on the manufacturing of lightweight vehicles which is driving market growth for polyamide 12 which is a key trend in the global polyamide 12 market. Increasing focus on emission control has been witnessed in automotive industry. This has prompted several of the industry participants to develop vehicles that are relatively lighter in weight than metal. Metal-to-plastics conversion has been a prominent trend in the automotive industry over the past few years.
Polyamide 12 Market Report Snapshots
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