Market Size of south america polyamide Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 0.96 Billion |
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Market Size (2029) | USD 1.30 Billion |
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Largest Share by End User Industry | Packaging |
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CAGR (2024 - 2029) | 6.41 % |
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Largest Share by Country | Brazil |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
South America Polyamide Market Analysis
The South America Polyamide Market size is estimated at 0.96 billion USD in 2024, and is expected to reach 1.30 billion USD by 2029, growing at a CAGR of 6.41% during the forecast period (2024-2029).
0.96 Billion
Market Size in 2024 (USD)
1.30 Billion
Market Size in 2029 (USD)
6.57 %
CAGR (2017-2023)
6.41 %
CAGR (2024-2029)
Largest Market by End-user Industry
31.59 %
value share, Packaging, 2023
PA is increasingly used in the flexible packaging industry to achieve weight reduction and preserve product freshness. Thus, the packaging industry dominated the demand.
Fastest Growing Market by End-user Industry
8.60 %
Projected CAGR, Aerospace, 2024-2029
Owing to the increasing replacement of metal parts with plastic parts, combined with the exceptional properties of PA, the aerospace industry is likely to witness the fastest growth.
Largest Market by Sub Resin Type
44.72 %
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 Country
72.82 %
value share, Brazil, 2023
Having the highest volume share of around 60.54% in plastic packaging production in South America, Brazil held the largest share.
Leading Market Player
42.11 %
market share, Koch Industries, Inc., Inc.
With the largest production capacity of around 40 kilotons per year of PA resin in 2022 in South America, the company held the largest share of the market.
The packaging industry to remain dominant during the forecast period
- Polyamides are high-performance plastics that can withstand high temperatures and corrosive environments, making them suitable for applications in industries such as aerospace, automotive, and packaging. The South American polyamide market registered a growth of 11.64% value in 2022 compared to 2021. One of the major reasons behind the rise in polyamide consumption is its increasing application in the packaging and automotive industries.
- The packaging industry recorded the largest share of the market, with an annual growth rate of 15.65% in terms of value in 2022 compared to the previous year. This growth was attributed to the consumer shift toward convenience food and on-the-go lifestyles, as well as the development of retail-ready packaging, which drove the demand for packaging materials. Plastic packaging production increased by more than 252 thousand tons in 2022 compared to 2021, further impacting polyamide consumption.
- The automotive industry occupied the second-largest market in terms of consumption, with an annual growth rate of 12.32% in value in 2022 compared to 2021. Access to credit and low-interest rates offered by the government increased consumer confidence, leading to a boost in automobile sales in the region. Vehicle production reached 5.12 million units in 2022, which was 6.8% higher than in 2021. As a result, the demand for polyamides surged in the automotive industry in 2022.
- The market is expected to record a CAGR of 6.46% in value during the forecast period [2023-2029], with the aerospace industry reporting the highest CAGR of 8.65% by value. This growth can be attributed to the demand for 2460 new passenger and freighter aircraft by 2040, which will boost the production of aerospace components and increase the consumption of polyamides in the future.
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Brazil to exhibit high growth rate aided by fast-paced packaging and electronics industries
- Polyamide has a wide range of applications in the packaging and electrical and electronics industries, such as packaging foods and beverages, specifically convenience-sized soft drinks, water, coil forms, electrical encapsulation, electrical devices, and smart meters. South America accounted for around 5.05% of the global consumption of polyamide resin in 2022 by value.
- Brazil is the largest shareholder in the regional market, and the country's demand for polyamide resin is increasing significantly due to the rising packaging and electrical and electronics industries. Brazil occupied the largest share of regional packaging production, with a 61% share in 2022. Brazil's plastic packaging production is expected to reach 5.21 million tons by 2029, compared to 3.67 million tons in 2022. The surge in demand for technologically advanced consumer electronics and appliances such as smartphones, laptops, computers, cameras, televisions, and others is expected to boost consumer electronics demand. The e-commerce market in the country is projected to reach a revenue of around USD 94.63 billion in 2027 from USD 53.86 billion in 2023.
- Argentina is the fastest-growing market segment, with a 9.04% CAGR in terms of revenue, which can be attributed to the country's automotive industry. The automotive industry is predicted to witness a CAGR of 10.78% in value during the forecast period. Argentina passed legislation promoting the auto industry, which implements schemes such as the early refund of the VAT, which will increase vehicle sales in the future. For example, vehicle production in the country is expected to reach 1,279 thousand units by 2029 compared to 803 thousand units in 2022.
