Global Polyamide 12 Market was estimated to be valued at US$ 313.9 Billion in 2021, according to Global Polyamide 12 Market Report, by End-use Industry (Automotive, Consumer Goods, Electronics, Industrial, and Others) and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights.
Global polyamide 12 market was valued at US$ 313.9 Billion in 2021. Polyamide 12 market is expected to register a CAGR of 5.9% over the forecast period (2022–2030). The Asia Pacific region is expected to dominate market over the forecast period and is projected to be the largest and fastest-growing region.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/polyamide-12-market-1405
Browse 50 market data tables* and 40 figures* on "Global Polyamide 12 Market” - Forecast to 2030.
Key Trends and Analysis of the Global Polyamide 12 Market:
- Higher demand for Asia consumer electronic has further boosted market growth for polyamide 12. For instance, as per the data published by The Japan Electronics & Information Technology Industries Association in June 2022, in Japan the export of computers and information terminals was valued at US$ 232.63 million in May 2022. The high consumption of electronics in this region is driving market growth for polyamide 12, as polyamide 12 has applications is the electronics industry.
Key Takeaways of the Global Polyamide 12 Market:
- Growth of the polyamide 12 market in the Europe region ensued from growing electronics & automobiles sales in Central and East European countries, which exhibited high electronics and automobile sales growth rates. High usage of electric vehicles in Western European countries such as U.K., Germany, France, Belgium and Netherlands are expected to boost market growth. These factors are projected to be conducive to polyamide 12 market growth in the region.
- Asia Pacific is projected to be the largest and fastest growing market for polyamide 12 over the forecast period. China and Japan are growth engines in Asia Pacific polyamide 12 market. This can be attributed to significant growth of the automotive industry in the aforementioned countries. Polyamide 12 is increasingly being used by automobile manufacturers as a substitute for metal in various components such as fuel tubes and brake liners, in order to reduce the weight of the vehicle.
- Polyamide 12 or nylon 12 is used in skin careand nail care products such as hand creams, skin fresheners, and nail paints, owing to its sterile and hypo-allergenic properties. Growth in the Europe based personal care industry is expected to facilitate growth of the polyamide 12 market in the region. For instance, according to Cosmetic Europe report on March 2022, the Europe cosmetic market was valued US$ 81.57 billion retail sales price in 2021, the European cosmetics and personal care market is the largest market for the cosmetic products in the world.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global polyamide 12 market
