Albany, NY -- (SBWIRE) -- 01/12/2018 -- Increasing demand for competent synthetic materials and polymers across a range of end-use industries has driven the global production of polyamide 6. The semi-crystalline composition of polyamide 6 materials keeps them at the forefront of polymerized industrial applications. However, stringency in the mass-scale production of polyamide 6 has become a key restraint for the expansion of the overall polyamide 6 market. Environmental protection policies continue to constrain the production of polyamide 6, which entails the emission of VOCs and toxic gases. This has impeded the volume-based sales of polyamide 6 over the recent past.
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Transparency Market Research projects that during the forecast period, 2017-2026, the global polyamide 6 market will expand at a sluggish CAGR of 3.5%. In its exclusive forecast study, the global market is estimated to record the sales of over 7,690 metric tons of polyamide 6 by the end of 2026. Strict industrial regulations will continue to create challenges in large-scale production of polyamide 6. And, leading producers of polyamide 6 namely, BASF SE, DSM Engineering Plastics. Grupa Azoty, Honeywell International Inc., Ube Industries, Ltd., Nycoa, Polymeric Resources Corporation (Nylene), Techmer PM LLC, EMS-Grivory, Arkema Group, Evonik Industries AG, SABIC, Asahi Kasei Corporation, Lanxess AG, and A. Schulman, Inc. are likely to face the brunt.
According to the regional analysis developed in the study, the global polyamide 6 production will remain concentered in the Asia-Pacific excluding Japan (APEJ) region. Favorable industrial regulations in APEJ countries such as China, South Korea, and India will facilitate voluminous production of polyamide 6 materials. The demand for polyamide 6, on the other hand, will be considerable large in Europe. While the APEJ polyamide 6 market will represent the highest CAGR of 3.7%, Europe is estimated to account for more than 1,300 metric tons of polyamide 6 by the end of the forecast period.
The report further projects that the use of polyamide 6 engineering resin and textile filaments will be high in the global polyamide 6 market. These two types of products are expected to collectively account for the largest stake in the growth of the global polyamide 6 market through 2026. High-performance properties of polyamide 6 engineering resins will drive their application purview, while the extensive use of polyamide 6-based textile filaments in the global textiles industry will instrument their brimming demand.
The report has also analysed the global polyamide 6 market on the basis of commercial grades of these materials. With respect to commercial grade, the global polyamide 6 market will witness high consumption of fiber grade polyamide 6. By the end of 2026, fiber grade polyamide 6 is anticipated to account for more than 60% of the global polyamide 6 market volume. Meanwhile, extrusion grade polyamide 6 will witness fastest volume growth at a CAGR of 4.8%.
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The demand for polyamide 6 is expected to remain largely concentrated in the automotive industry. The effective use of polyamide 6-based fabrics in the production of automotive textiles will continue to factor their growing applications in this industrial vertical. In 2017, more than 2,100 metric tons of polyamide 6 is estimated to be accounted by automotive applications. The report further reveals the use of polyamide 6 in wires & cables applications will register highest CAGR of 5.3% during the forecast period.