Foreign Power Forecasts Strong Growth in China's Polyamide Polymer Demand

According to reports, the demand for polyamide polymers and compounds in China was 511,000 tons in 2007 and is expected to increase to 758,000 tons in 2010. According to a study by AWJ Consulting, a consulting firm headquartered in the United Kingdom, the average growth rate of China's polyamide market in the past three years is 15%/year, and it is predicted that it will continue to grow at a rate of 13.9%/year in the next three years. Last year, China's polyamide market demand, injection molding accounted for 82%, while electrical/electronic products accounted for almost 50% of total demand. Automotive applications account for about 16% of the injection molding market, which is undoubtedly the fastest growing sector, the study said.
Between 2003 and 2006, China’s passenger car production increased by 100%, and it increased by 23% in 2007 alone. The amount of polyamide used per car in cars produced in China will also increase substantially. The current level is 7 to 8 kg, which still lags far behind the use of cars produced in Western countries. According to the report, PA6 imports accounted for about 64% of the 315,000 tons of demand in 2007. Imports of PA66 accounted for a higher proportion of demand. About 86% of the 193,000 tons of demand in the previous year came from imports.