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Global PA66 Market to Keep Double Digit Growth Till 2030
Publishing Date:2021-06-20     Reviews:     Font Size:【 Large Medium Small

The latest market study from GRD Survey expected the global PA66 market is likely to maintain a CAGR of 10% over the forecast period till 2030.

PA66 is one of the mostly widely used engineering plastics. It is frequently used when high mechanical strength, rigidity, good stability under heat and/or chemical resistance are required. Despite of its higher performance compared to PA6, its usage is widely limited by its higher production cost.

The COVID-19 pandemic has adversely impact the PA66 demand. According to HIS Market, global PA66 consumption was around 1,840 k mt in 2020, fell by 10.5% compared to 2019. However, driven by some China manufactures’ technology breakthrough of key raw material Adiponitrile (ADN), PA66 production is expected to supply will increase significantly.

AND is the key raw material that accounts for more than 50% of PA66 production cost. Global AND supply was previously dominated by several key manufacturers like BASF, Invista, Solvay, Ascend and Asahi Kasei for decades. In 2018, Solvay, BASF and Ascend ceased AND production due to force majeure such as raw material and weather reasons, lead to price soaring of AND in a short time. Since 2015, some China manufacturers have been reported to be able to successfully produce AND. Now China’s new AND capacity under construction was more than 1 million metric tons, which could supply around 2 million tpy capacity of PA66. This is something that will unlock the PA66 market potential and re-shape the market.

From the demand side, global PA66 consumption stagnated around 1.5 million metric tons for the past 5 years, while China’s PA66 consumption was around 400-500 thousand mt. According to GRD Survey, China’s PA66 demand will reach 2880 thousand mt by 2030, growing at a CAGR of 20.7% from 2020-2030, driving by demand from cloths and apparel, automotive and 3D printing.

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