Polyamide 12 Market Is Estimated To Witness High Growth Owing To Growing Automotive Industry
Polyamide 12 Market 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 producti...