Polyamide Market

The global polyamide market is projected to witness growth in both volume and value from 2022 to 2030, with China leading in consumption and production. Significant fluctuations were observed in import and export prices and volumes over the years, with various countries showcasing different growth rates and trends.

Market Forecast

Driven by increasing demand for polyamides (in primary forms) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market volume to 15M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.3% for the period from 2022 to 2030, which is projected to bring the market value to $56.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Polyamides (In Primary Forms)

In 2022, after two years of growth, there was decline in consumption of polyamides (in primary forms), when its volume decreased by -3.3% to 12M tons. The total consumption volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 7.5%. Global consumption peaked at 12M tons in 2021, and then dropped slightly in the following year.

The global polyamide market size reduced to $37.7B in 2022, with a decrease of -3.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $38.9B in 2021, and then shrank slightly in the following year.

Consumption By Country

China (2.6M tons) remains the largest polyamide consuming country worldwide, comprising approx. 23% of total volume. Moreover, polyamide consumption in China exceeded the figures recorded by the second-largest consumer, India (1.2M tons), twofold. The third position in this ranking was taken by the United States (1.2M tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +5.1%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+5.9% per year) and the United States (+4.0% per year).

In value terms, China ($8.9B) led the market, alone. The second position in the ranking was held by the United States ($3.9B). It was followed by India.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +3.6%. The remaining consuming countries recorded the following average annual rates of market growth: the United States (+4.0% per year) and India (+5.5% per year).

In 2022, the highest levels of polyamide per capita consumption was registered in Belarus (26 kg per person), followed by Germany (9.7 kg per person), Italy (5.7 kg per person) and South Korea (4.4 kg per person), while the world average per capita consumption of polyamide was estimated at 1.5 kg per person.

From 2012 to 2022, the average annual growth rate of the polyamide per capita consumption in Belarus totaled +22.5%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Germany (-0.0% per year) and Italy (-0.8% per year).

Production

World Production of Polyamides (In Primary Forms)

In 2022, after two years of growth, there was decline in production of polyamides (in primary forms), when its volume decreased by -3.8% to 11M tons. The total output volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when the production volume increased by 7.9% against the previous year. Over the period under review, global production hit record highs at 12M tons in 2021, and then fell in the following year.

In value terms, polyamide production shrank slightly to $36.2B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the production volume increased by 23%. As a result, production attained the peak level of $37.8B, and then reduced in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (2.6M tons), the United States (1.7M tons) and India (951K tons), with a combined 47% share of global production. Germany, Indonesia, Italy, Japan, Bangladesh, Belarus, Mexico, South Korea, Russia and Poland lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Belarus (with a CAGR of +15.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Polyamides (In Primary Forms)

In 2022, global imports of polyamides (in primary forms) shrank to 4.9M tons, with a decrease of -6.1% against 2021 figures. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 22% against the previous year. As a result, imports reached the peak of 5.3M tons, and then fell in the following year.

In value terms, polyamide imports reached $19.9B in 2022. The total import value increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 49% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports By Country

China (571K tons) and Germany (561K tons) represented roughly 23% of total imports in 2022. Italy (276K tons) ranks next in terms of the total imports with a 5.6% share, followed by India (5.2%) and Mexico (4.9%). Belgium (197K tons), Japan (177K tons), France (173K tons), South Korea (173K tons), the United States (172K tons), Vietnam (159K tons), Turkey (139K tons) and Poland (136K tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +14.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($2.3B), China ($2.3B) and Italy ($1.1B) were the countries with the highest levels of imports in 2022, together comprising 29% of global imports. Belgium, Mexico, the United States, India, France, Japan, South Korea, Vietnam, Poland and Turkey lagged somewhat behind, together comprising a further 36%.

Vietnam, with a CAGR of +15.4%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average polyamide import price stood at $4,020 per ton in 2022, picking up by 11% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 22%. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($4,777 per ton), while India ($3,025 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Polyamides (In Primary Forms)

In 2022, approx. 4.8M tons of polyamides (in primary forms) were exported worldwide; with a decrease of -7.2% on the previous year. The total export volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when exports increased by 21% against the previous year. As a result, the exports attained the peak of 5.2M tons, and then declined in the following year.

In value terms, polyamide exports amounted to $19.1B in 2022. Overall, total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 49%. Over the period under review, the global exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports By Country

The biggest shipments were from the United States (765K tons), Germany (691K tons) and China (595K tons), together recording 43% of total export. Belgium (338K tons) ranks next in terms of the total exports with a 7.1% share, followed by Italy (6.4%) and the Netherlands (5.5%). Taiwan (Chinese) (182K tons), Poland (155K tons), France (139K tons), South Korea (138K tons), Spain (130K tons), Switzerland (122K tons) and Thailand (111K tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +14.2%), while the other global leaders experienced more modest paces of growth.

In value terms, the United States ($3.3B), Germany ($3.2B) and China ($1.9B) were the countries with the highest levels of exports in 2022, with a combined 44% share of global exports. Belgium, Italy, the Netherlands, Switzerland, France, Poland, South Korea, Taiwan (Chinese), Spain and Thailand lagged somewhat behind, together comprising a further 41%.

Switzerland, with a CAGR of +16.4%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average polyamide export price amounted to $3,983 per ton, rising by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2021 when the average export price increased by 23%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Switzerland ($7,775 per ton), while Thailand ($2,391 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+7.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform