Polyamide-6 Market To Increase at Steady Growth Rate

Polyamide -6 (PA6) is a semi-crystalline polyamide commonly known as Nylon-6. Polyamide-6 is generally produced by polymerization of caprolacta. The strength, durability and elasticity which it offers is widely appreciated in industries. Properties such as ability to withstand high pressure, temperature and various chemical makes it a highly valued material. These physical and chemical properties makes Polyamide-6 suitable for various application sectors. Of all the Polyamides types produced, Polyamide-6 accounts for approximately more than 60% of worldwide production in terms of volume. The global capacity of Polyamide-6 in 2013 is anticipated to be approximately 6.6 million metric tons.

Polyamide -6 Market: Drivers and Restraints

The major drivers for the global polyamide-6 market is its usage is its wide application sectors such as automotive, electronics & electrical, engineering plastics, packaging, wires & cables, textiles, and films & coating and others. Therefore, increasing demand for the above application sectors is expected to have a positive impact on the market in the coming years. The numerous niche applications for PA6 such as its usage in healthcare & music instruments is expected to positively affect the demand for polyamide 6 (PA6) in the coming years.

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Though the polyamide-6 (PA6) is regarded as one of the ideal materials for its physical and chemical properties yet some properties such as high shrinkage in molded sections, reaction with strong acids and bases may hamper the selection of PA6. Over specification, such as in automotive industry regarding the safety reasons may drift towards alternative products such as reinforced polypropylene, thereby restraining the growth of PA6. The insufficient flame retardance and significant flammable dripping might affect the use of PA6.

Polyamide -6 Market: Segmentation

On the basis of type, the global polyamide-6 market is segmented into:

Polyamide-6 (PA6) Fiber
Polyamide-6 (PA6) Resin

On the basis of application, global Polyamide -6 Market is segmented into:

Transportation
Electrical and Electronics
Textile
Industrial Application
Others (includes music, healthcare, coating sector)

Polyamide -6 Market: Region Wise Outlook

The consumption of Polyamide-6 is expected to grow at a significant CAGR of more than 5% during the forecast period, globally. Asia Pacific especially China, Japan, Taiwan and India are the major consumers of polyamide-6 since this region offers significant opportunities for Polyamide-6 in various application sectors such as transportation, electrical & electronics, textiles and others. It is estimated that by the end of 2015, China and Taiwan would account for approximately half of the world’s polyamide-6 production in terms of volume. Demand for polyamide-6 in regions such as North America and Latin America is forecasted to grow at a stagnant CAGR.

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Polyamide -6 Market: Key Players

Some of the market participants in the global polyamide-6 (PA6) market are BASF SE, Honeywell International Inc., DuPont, Royal DSM N.V., UBE INDUSTRIES, LTD., Invista, Formosa Plastics Corporation, Gujarat State Fertilizers and Chemicals and others.

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This release was published on openPR.