The Polyamide 12 Market is estimated to be valued at US$ 352.03 Bn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Polyamide 12, also known as nylon 12, is a semi-crystalline polyamide with good mechanical, chemical, and thermal resistance properties. It is used in applications that requires high strength, rigidity and toughness even at elevated temperatures. Key application areas of polyamide 12 include automotive, consumer goods, electrical & electronics, industrial applications and others. It is majorly used in under-hood applications, air intake manifolds, oil pans, alternator brackets and housings in the automotive industry.

Market Dynamics:
Polyamide 12 market is primarily driven by growing automotive industry globally. Rapid urbanization and rising disposable income in developing countries has increased passenger vehicle production. According to International Organization of Motor Vehicle Manufacturers, global car production has grown at a CAGR of 2.5% from 2014 to 2019. This growth in automotive industry has significantly increased the demand for engineering plastics like polyamide 12.

Another key driver has been increasing penetration of polyamide 12 in electrical & electronics applications. Properties like high heat and chemical resistance makes polyamide 12 suitable for electrical components, connectors and housings used in diverse range of electronic goods. Rapid pace of technological advancements and proliferation of consumer electronic goods have augmented the consumption of polyamide 12 in this industry.

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