Injection Molding Polyamide 6 Market worth $10.4 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Oct. 23, 2020 /PRNewswire/ -- According to the new market research report "Injection Molding Polyamide 6 Market by Grade (Reinforced PA6, Unreinforced PA6, Others), End-use Industry (Automotive, Electrical & Electronics, Industrial/Machinery, Consumer Goods & Appliances, Construction, Others), Region - Global Forecast to 2025", published by MarketsandMarkets™, the Injection Molding Polyamide 6 Market is projected to grow from USD 7.5 billion in 2020 to USD 10.4 billion by 2025, at a CAGR of 6.9% from 2020 to 2025. The market is witnessing average growth across the world due to factors such as growing end-use industries in emerging economies, increased use of polyamide 6 in the automotive industry are factors fueling the growth of the market.
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By grade, reinforced PA 6 is estimated to be the leading segment of injection molding polyamide 6 market from 2020 to 2025, in terms of value.
Based on grade, reinforced PA 6 accounted for a major share of the injection molding polyamide 6 market in 2020, in terms of value. This growth can be attributed to the high demand for reinforced PA 6 from end-use industries such as automotive, electrical & electronics, consumer goods, industrial/machinery, and construction. The reinforcing of polyamide 6 enhances its strength and other properties. Reinforced polyamide 6 offers high mechanical strength, thus, can replace metals in the machinery parts, when compared to unreinforced PA 6.
Thus, the high quality and availability of various grades of the reinforced PA 6 variants are considered as the key factor for its high demand.
By end-use industry, automotive is estimated to be the fastest-growing segment of injection molding polyamide 6 market
Automotive is expected to be the largest end-use industry of the injection molding polyamide 6 market during the forecast period. Injection molding polyamide 6 is extensively used as an efficient replacing metal parts in the automotive industry due to the ease of mass production as well as ease in molding it. Polyamide 6 is also cheaper in unit cost in comparison to metals, which makes it an affordable alternative. Injection molding polyamide 6 is used as a replacement for metals to produce interior and exterior automotive parts.
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Middle East & Africa is estimated to be the fastest-growing region in the global injection molding polyamide 6 market during the forecast period
The Middle East & Africa is estimated to be the fastest-growing region, in terms of value and volume, in the global injection molding polyamide 6 market. The growth of the Middle East & Africa is the market is majorly driven by the high demand for injection molding polyamide 6 from the automotive industry in the countries such as Saudi Arabia and South Africa.
DSM (Netherlands), BASF SE (Germany), DOMO Chemicals (Belgium), Radici Group (Italy), Lanxess Corporation (Germany), Toray Industries, Inc. (Japan), Sabic (Saudi Arabia), RTP Company (US), Ube Industries Ltd. (Japan), DuPont (US), AdvanSix (US), LyondellBasell Industries Holdings B.V. (Netherlands), ADDIPLAST GROUP (Italy), Grupa Azoty (Poland), AD Majoris (France), Adell Plastics Inc. (US), AKAY PLASTIK (Turkey), Shanghai Pret Composites Co. Ltd. (China), YUH-DEAN Enterprise Co., Ltd. (Taiwan), are some of the key players in the injection molding polyamide 6 market.
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