PA66 Market Expected to Reach $9.8 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “PA66 Market," The pa66 market size was valued at $5.9 billion in 2021, and is estimated to reach $9.8 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031.

PA66, often known as Nylon 66, is a monofilament that may be used for brushes, surgical sutures, tennis strings, and fishing lines. Clothing, carpets, tire cords, conveyor belts, and brushes are all made from nylon 66 fibers. Nylon 66 is twice as durable as cotton and has good dyeability. PA66 is often used in the design of flexible packaging to reduce weight while maintaining product freshness. It prolongs the shelf life of food by preventing Ultraviolet rays, air, and moisture from affecting its quality and taste.

The global PA66 market growth is majorly attributable to its wide applications in various industries such as electricals and electronics, textile, construction, packaging, consumer goods, and others. PA66 is employed in the electronics sector for circuit boards and power cables. Due to the general low coefficient of friction of nylon, parts constructed of PA66 are commonly employed in systems that spin or slide. It has high abrasion and friction properties and is easily flame retardant. Because of its self-lubricating characteristics, it is ideal for gears and bearings.

PA66 is a strong option for high load parts in electrical applications such as insulators, switch housings, and the ubiquitous cable ties due to its electrical insulation, corrosion resistance, and durability. Polyamide 66 is used in the textile industry to produce parachute canopies owing to its elasticity, strength, and mildew resistance. Besides, straps and suspension lines, as well as tents, sleeping bags, sails, rope, tennis strings, fishing poles are made from PA66. PA66 is used in textile fibers, carpet fibers, and molded components that are used in both the fashion and industrial sectors because of its lightweight and sheer clothing.

Further, rising demand from automotive industry is anticipated to drive the market growth during the forecast period. PA66 is frequently used in automobile as climbing hands, structural sections such as bumper facias, instrument panels, and door trims. It is widely recognized for its toughness and hardness, and it is utilized in industrial gears such as naval propellers. PA66 is utilized in the production of brake hoses, gasoline lines, and other automotive and transportation equipment. It is used in sensors and solenoids, halogen light sockets and fog lamp assemblies, motor end caps and housings, fuel system components (flanges, fuel rails, fuel line connectors), anti-lock brake system components, cooling and heating system components. It is common in engine compartments, where it is subjected to high temperatures and fluids such as engine oil. It is employed as a metal substitute in automotive under hood parts where design flexibility, temperature endurance, and chemical resistance are required.

However, availability of alternatives is projected to hinder the expansion of the market. On the contrary, growing demand from developing and developed economies expected to offer ample growth opportunities for the PA66 industry. Polyamides are a popular choice among automakers due to their exceptional durability and wear resistance, both of which are essential characteristics in car construction. Increasing demand for lightweight vehicles has resulted in a substantial growth in the demand for PA66 in the automotive sector. Worldwide demand for PA66 is influenced by the textile and industrial filaments categories. Western Europe accounts for about 56% of demand for polyamide 66.

Further, the polyamide market in North America holds a highest market share of 32.9% globally and is predicted to persist this position in coming years. Also, the low production cost in this location will boost production of the existing low-priced polyamides.

The PA66 market is segmented into form, end-use industry, and region. On the basis of form, the market is categorized into sheet, rod, tubes, and others. On the basis of end-use industry, the market is categorized into automotive, electricals and electronics, textile, construction, packaging, consumer goods, and others. The automotive is the fastest growing segment with the highest CAGR. In In automotive sector, PA66 offers temperature resistance which gives toughness, strength, and stiffness and resist wear and abrasion.

Region wise, the market is studied across North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The PA66 market share is analyzed across all significant regions and countries, Asia-Pacific dominated the PA66 market in 2021. PA66 is widely utilized in a variety of products in the region, including book bags, flak jackets, back packs, wedding dresses and bridal veils, ponchos, sports shoes, umbrellas, camera cases, socks, swimwear, gloves, caps, and other products.

The major players operating in the global PA66 market include Arkema S.A, Ascend Performance Materials LLC, BASF SE, DuPont, Evonik Industries, Honeywell International Inc, Huntsman Corporation LLC, Lanxess, Kurary Co. Ltd, Lealea Group, Radici Group, Royal DSM, SABIC, Solvay, and Toray Advance Composite. Comprehensive analysis of recent key developments as well as growth curves of various companies help understand the growth strategies adopted by them and their potential effect on the PA66 market trends.

COVID-19 Analysis:

PA66, which are in high demand in the packaging in food industry is set to significantly increase demand for PA66. PA66 is widely used in the design of flexible packaging in order to save weight while maintaining product freshness. It extends food shelf life by preventing UV radiation, oxygen, and moisture from damaging its quality and flavor. With increases in food safety concerns during the pandemic, the populace started recognizing the value of packaging. Due to the COVID-19 outbreak, people like to eat healthier and hygienic food, hence the need for food packaging has risen substantially, thereby propelling the demand for PA66.

Key findings of the study:

• As per PA66 market analysis, by region, Asia-Pacific was fastest growing region, growing with a CAGR of 6.7%.
• Based on form, the sheet segment was the highest revenue contributor to the market, growing with a CAGR of 6.0%
• On the basis of end-use industry, the automotive segment was the highest revenue contributor to the market, growing with a CAGR of 6.3%
• China was the highest revenue contributor, growing with a CAGR of 7.5%.
• South Korea and Japan are expected to witness considerable CAGRs of 5.1% and 3.6%, respectively, during the forecast period.