Albany NY, Dec. 28, 2017 (GLOBE NEWSWIRE) -- 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.
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.
APEJ to Represent Leading Market for Polyamide 6 Through 2026
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.
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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.
Automotive Applications to Account for 2,890 MT of Polyamide 6 by 2026-end
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%.
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.
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