Polyamide Sales Grow to around USD 31.2 Billion in 2022
Market research institute Ceresana presents new market study on Polyamide PA6 and PA66. Polyamides are among the most versatile plastics. Especially the types polyamide 6 and polyamide 66 are important. They vary in their chemical constitution. "In 2014, global revenues of USD 24.4 billion were achieved with these two polyamide types", says Oliver Kutsch, CEO of the market research institute Ceresana. The new study by Ceresana expects sales growth for polyamides from 3.1% per year to around USD 31.2 billion in 2022.
Polyamide 6 and polyamide 66 are mainly used for the production of textile and industrial filaments, e.g. continuous filaments as well as carpet and staple fibers. A smaller part of around 43% of polyamide production is processed for technical plastics. Polyamide 6 and polyamide 66 are used for many different applications - especially for unbreakable pieces and pieces that have to be abrasion-resistant. As polyamides are also resistant to lubricants and fuels, they are often used in the transportation area for example for brake hoses, plug connectors, battery cases, oil sumps, switches and handles. Electrical applications and electronics are the second largest application area. For this segment, Ceresana expects the highest percentage growth of average rates of 4.3% per year until 2022.
The major part of total demand for polyamide accounts for the type polyamide 6, which is mainly used for textile and industrial filaments. This market is dominated by the Asia-Pacific region that reached a global demand of approx. 68% in 2014. Main reason for this: Asia converted nearly 1.5 billion tonnes of the light, well dyed polyamide 6 into fibers. With regard to the type polyamide 66, technical applications account for almost 56% of global demand - in Western Europe even 71%.
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