H1 2023: In H1 2023, China Polyamide market faced fluctuations throughout H1 2023. China's price patterns for polyamide 6 and polyamide 6,6 varied over the first half of 2023. A rather slow downstream follow-up caused the market for nylon six to decline after a strong spike during the Spring Festival. Nevertheless, this year's performance in the downstream sector of the textile industry was hazy. In the first three months of 2023 , textile downstream production was healthy in China, but the plasticizer industry had faced struggles. In China, due to firms reducing their stock as a result of dismal global trading activities and deteriorating demand from the downstream textile sectors, the Polyamide 66 market in China was trending downwards in April 2023. The price of Polyamide 6,6 unexpectedly increased in May 2023 as a result of an increase in Chinese merchant requests to replenish the market and improvement in demand from the downstream textile and automotive sectors. As global exports began to decline, the prices of polyamide gradually declined in June 2023 as a result of decline in export orders. Due to decrease in the number of orders coming in from the international market, the end-use industry's procurement activities were more hesitant in the Chinese market from April -June 2023.
The China Polyamide market is anticipated to grow at a healthy CAGR of 6.3% by 2030. DOMO Chemicals, one of the manufacturers of plastics, announced in March 2023 about development of new plant in Haiyan, Jiaxing, Zhejiang, China. This plant will enable DOMO chemicals to reach a total capacity of 50 thousand tonnes with the latest technology with a total area of 40,000 square meters. This new plant is estimated to be fully operational in the first quarter of 2024.
China is one of the leading producers and consumers of Polyamide 6 across the globe, and robust demand from textile fiber market will most likely further augment its market growth in the forthcoming years. While majority of the Polyamide 6 produced in China is utilized in textiles fibers due to its smooth texture and fine deniers. Also, a major chunk of the Chinese Polyamide 6,6 is employed in injection molding techniques into tough plastic parts which is used in making engineering plastics for serving varied industries such as electrical, electronics and automotive. It is often used in gears, bushings, and plastic bearings because of its low-friction properties. Moreover, there has been a great surge in demand for Polyamide -based industrial filament from the tyre and airbag industries, with China’s enormous automotive manufacturing sector.
Based on type, the China Polyamide market is divided into Polyamide 6 and Polyamide 6,6. Polyamide 6 injection moulding is used in the construction industry, automotive, electronics, industrial/machinery, consumer products and utilities, and other end uses. While Polyamide 6 is produced from caprolactam, Polyamide 6,6, is synthesized via the polycondensation of adipic acid and hexamethylene diamine (HMDA) and is much expensive than the former. As Polyamide 6 is less expensive than Polyamide 66 and in many applications the latter can be substituted by the former, there are chances that Polyamide 6 market tends to overpower the market for Polyamide 66. However, owing to better chemical resistance and greater tendency to absorb moisture and expand, Polyamide 66 is likely to keep a hold on several important end uses. For example, Polyamide 6 might not work in cable ties, which have to secure wires tightly in fragile environment like damp conditions.
Based on end-use, the China Polyamide market is segregated into different industrial sectors such as Textiles, Automotive, Electricals & Electronics, General Industries, and Others. Among these, Textiles is dominating the China Polyamide market. This industry consumed approximately 40% of the Polyamide market in 2022. Polyamide is renowned for its ability to withstand moisture. Waterproof polyamide textiles are being used by several companies for manufacturing various goods. Because of its waterproof qualities, it is frequently used to produce athletic and outdoor clothes.
Some of the major players operating in China Polyamide market are Fujian Shenyuan New Materials Company Limited, Shenma Industrial Co. Ltd., Invista, DuPont, Huafon Group, Ascend Performance Materials, Rhodia Polyamide, Nilit Nylon Technologies, Jiangsu Huayang Nylon Co. Ltd., Xingjia (including Anshan Guorui), Asahi Kasei Corporation, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2030
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Objective of the Study:
• To assess the demand-supply scenario of Polyamide which covers production, demand and supply of Polyamide market in China.
• To analyse and forecast the market size of Polyamide in China.
• To classi and forecast China Polyamide market based on end-use and regional distribution.
• To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Polyamide market in China.
To extract data for China Polyamide market, primary research surveys were conducted with Polyamide manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for China Polyamide market over the coming years.
ChemAnalyst calculated Polyamide demand in China by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Polyamide to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polyamide manufacturers and other stakeholders
• Organizations, forums and alliances related to Polyamide distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polyamide manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, China Polyamide market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Growth Rate
CAGR of 6.3% from 2023 to 2030
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2030
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2030
Report coverage
Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade
Segments covered
By type: Polyamide 6 and Polyamide 6,6
By End-Use: (Textiles, Automotive, Electricals & Electronics, General Industries, and Others)
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Member - Board of Directors
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What is the anticipated market growth rate of China Polyamide market for the forecast period of 2024- 2030?
Ans:
The China Polyamide market is anticipated to grow at a healthy CAGR of 6.3% for the forecast period of 2024- 2030.
Q2.
Which industry is dominating the China Polyamide market?
Ans:
As of 2022, Textiles industry is dominating the Polyamide market in China with an estimated share of roughly 40%.
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