Polyamide 12 (PA12) Market In-Depth Industry Research Report with Revenue Analysis
The factors that are playing a major role in the growth of the market are growing demand in oil and gas pipeline application, aerospace & defense, and healthcare sector; excellent electrical insulation, and government initiatives and funding.
(firmenpresse) - Global polyamide 12 (PA12) market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Polyamides are long chain polymers containing amide units (N-H- C=O) that are obtained by polymerization of an acid with an amide. Polyamide 12 (PA 12) is a thermoplastic with a general formula [HN(CH2)11CO]n.
The factors driving the market include excellent chemical and thermal resistance, high stability, and low density on the part of polyamide 12. The factors that are playing a major role in the growth of the market are growing demand in oil and gas pipeline application, aerospace & defense, and healthcare sector; excellent electrical insulation, and government initiatives and funding. However, high cost may restrain overall market growth in the years to come. The market is segmented based on product type, end-user, and region.
High-quality grade, regular grade, and other product types could be explored in polyamide 12 (PA12) in the forecast period. The market may be categorized based on applications like electronics, automotive applications, consumer goods, industrial applications, and others that could be explored in the forecast period. Consumer goods sector accounted for the substantial market share of polyamide 12 (PA12) and is estimated to lead the overall market in the years to come. The reason could be its wide applications across the manufacturing sector and is exclusively used in toothbrush bristles, flake jackets, and chairs. In addition, the automotive sector is estimated to grow at the fastest pace in the years to come.
Globally, North America accounted for the substantial market share of polyamide 12 (PA12) and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of key manufacturers in the region and the rising demand from end-use industries. The United States is a major consumer of polyamide 12 (PA12) in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise the continuous used by automobile manufacturers as a substitute for metal. The developing countries like India and China are the major consumers of polyamide 12 (PA12) in this region.
The key players of polyamide 12 (PA12) market are Toray Industries Inc., Evonik Industries AG, RTP Company Inc., Arkema Group, Ems-Chemie Holding AG, UBE Industries, Ltd., Invista S.a.r.l., Ensinger GmbH, Techmer PM LLC., and Degussa AG. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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