Market Size of polyamides Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 18.59 Billion |
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Market Size (2029) | USD 25.18 Billion |
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Largest Share by End User Industry | Automotive |
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CAGR (2024 - 2029) | 6.25 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Polyamides Market Analysis
The Polyamides Market size is estimated at 18.59 billion USD in 2024, and is expected to reach 25.18 billion USD by 2029, growing at a CAGR of 6.25% during the forecast period (2024-2029).
18.59 Billion
Market Size in 2024 (USD)
25.18 Billion
Market Size in 2029 (USD)
4.05 %
CAGR (2017-2023)
6.25 %
CAGR (2024-2029)
Largest Market by End-user Industry
28.93 %
value share, Automotive, 2023
Due to its temperature and chemical resistance, PA is used in a wide range of automotive applications, including intake manifolds, fuel lines, and underhood parts.
Fastest Growing Market by End-user Industry
7.71 %
Projected CAGR, Packaging, 2024-2029
With the grwoing developments of packaging techniques using polyamides, the packaging industry is likely to witness the fastest growth.
Largest Market by Sub Resin Type
50.64 %
value share, Polyamide (PA) 6, 2023
Owing to its applications and highest shares in various industries, including automotive, electrical and electronics, aerospace, and construction, PA 6 resin occupied the largest share.
Largest Market by Region
49.31 %
value share, Asia-Pacific, 2023
Owing to huge markets such as China, India, Japan, and South Korea, Asia-Pacific held around 72.45% of the automotive production and dominated the market.
Leading Market Player
10.48 %
market share, BASF SE, 2022
With the largest production capacity of around 925 kilotons per year of PA resin in 2022, the company held the largest share. BASF offers various polyamides, including PA6, PA66, PPA, and other products.
The automotive industry to lead the polyamide market
- Polyamides are high-performance plastics that can withstand high temperatures and corrosive environments. Due to their non-adhesive and low friction properties, they are suitable for applications in various end-user industries, like aerospace, electronics, automotive, and telecommunications.
- The automotive industry occupied the largest market share by volume in 2022. The automotive market for polyamides experienced a growth of 11.73% in terms of value compared to the previous year. This can be attributed to an increase in vehicle production which subsequently increased the consumption of polyamides. For instance, vehicle production reached 143 million units in 2022 compared to 136 million units in the previous year.
- The electrical and electronics industry occupied the second-largest market share by volume in 2022. A significant shift of consumers toward consumer electronics as companies began adopting work-from-home models and people began setting up home offices caused a surge in demand for consumer electronics. Thereby raising the demand for polyamides globally.
- The aerospace sector is the fastest growing end-user for polyamides and is expected to register a CAGR of 7.96% in terms of value during the forecast period (2023-2029). Trends like using advanced materials with light weight and high strength properties, miniaturization, and disruptive technologies will enable smart manufacturing practices in aerospace sector to increase the consumption of polyamides in the future. With the new research and developments in the design of next generation PA compounds and their engineered composites the consumption in aerospace is expected to rise significantly.
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Asia-Pacific to dominate the market demand
- The global polyamide market accounted for 8.18% of the overall engineering plastics market share in terms of consumption in 2022. Asia-Pacific and Europe are among the major consumers of polyamides globally.
- Asia-Pacific is the largest consumer of polyamide resin and is expected to register a CAGR of 6.80% in terms of value during the forecast period, making it the fastest-growing sector as well. Countries like China and Japan are at the forefront of the utilization of polyamides occupying 60.63% and 10.52%, respectively, of the total polyamide market share in terms of revenue. This can be attributed to China's automotive industry, which is the only region experiencing a surge in demand for vehicles primarily due to the government reducing taxes on vehicle purchases amid a global semiconductor shortage. For instance, vehicle production in China was 46 million units in 2022 compared to 44 million units in the previous year. China is also among the fastest-growing country in polyamide consumption and is likely to experience a CAGR of 7.13% in terms of value from 2023 to 2029.
- Europe was the second-largest consumer of polyamides across the world in 2022. The region is expected to register a CAGR of 5.52% in terms of value during the forecast period. Europe's polyamide consumption in the electronics industry accounts for 28.78% of the overall polyamide revenue generated in the region.
- Africa is likely to register as the fastest-growing region for polyamide consumption owing to its growing automotive production along with the rapid adoption of sustainable and durable building materials during the projected time period. The region is anticipated to grow at a rate of 7.17% during 2023-2029 in terms of value.
