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The EMEA polyamide 6 market size was valued at USD 2.67 billion in 2021. The market is projected to grow from USD 2.72 billion in 2022 to USD 3.33 billion by 2029, exhibiting a CAGR of 2.9% during the forecast period. Fortune Business Insights™ publishes this information in a report titled, "EMEA Polyamide 6 Market, 2025-2032". As per the report, the market is projected to grow during the projected period due to increasing demand for this chemical in the automobile and textile industries.
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Segments:
Increasing Product Demand from Automotive Sector to Fuel Segment Growth
By application, the market is segregated into automotive, electrical & electronics, packaging, industrial fiber & textiles, consumer appliances, and others. The rising demand for polyamide 6 from the automotive sector is expected to bolster the segmental growth. Also, the rising adoption of superior mechanical parts in vehicles is anticipated to propel growth in the coming years.
Geographically, the market share is segmented into Europe and the Middle East & Africa.
Report Coverage:
The report highlights important data and recent market trends. The impact of COVID-19 pandemic on market growth and expansion is mentioned further along with some recent developments launched by the prominent market players. Furthermore, the drivers and restraints affecting the market development during the projected period are mentioned further in this report. A list of leading market players in the industry is given further along with the regional market insights on the segmented market areas.
Drivers & Restraints:
Increasing Use of PA 6 in the Textile Sector to Propel Growth
The market is expected to witness prominent growth during the projected period owing to the rising adoption of polyamide 6 in the textile industry. Also, increasing product utilization in the automobile sector to develop efficient vehicles is projected to fuel the market growth. Furthermore, increasing adoption of 3D printing technology is estimated to fuel market growth in the coming years.
However, strict restrictions to reduce hazardous environmental impact may hinder the market growth.
Regional Insights:
Europe Dominates Market Due to Increasing Product Demand
Europe holds the largest EMEA polyamide 6 market share, and the region stood at USD 2.34 billion in 2021. The increasing presence of key players and continuous advancements in the market are expected to bolster the regional market growth. Furthermore, rising developments in electric waves for mobility are projected to bolster regional growth.
Germany is projected to hold the second-highest position during the projected period owing to rising production and sales rate. Also, the rising investment in R&D activities is estimated to drive regional market growth.
Competitive Landscape:
Strategic Partnerships Allow Companies to Strengthen their Position
The leading market players focus on forming strategic partnerships and alliances to strengthen their market position. Also, adopting the latest technologies to develop new products allows companies to enhance their product portfolio. The companies can expand their business reach by improving their market strategies and increasing sales rates.
Key Industry Development:
October 2021: BP and Lanxess announced a strategic partnership for sustainable raw materials for the production of Nylon 6. The former supply sustainably produced cyclohexane to the Lanxess production site in Antwerp, Belgium.
List of Key Players Profiled in the Report:
BASF SE (Germany)
DuPont (U.S.)
Lanxess AG (Germany)
Radici Group (Italy)
Arkema S.A. (France)
Ube Industries (Japan)
RTP Company (U.S.)
DSM (Netherlands)
Domo Chemicals (Germany)
NYOBE NV (Belgium)
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