Global Advanced Polyamide Tubing Market Size (2023-2030)

In 2022, the Global Advanced Polyamide Tubing Market was valued at $7.34 billion, and is projected to reach a market size of $10.94 billion by 2030. Over the forecast period of 2023-2030, market is projected to grow at a CAGR of 5.12 %.

Market Overview:

The global advanced polyamide tubing market size was estimated at USD 7.34 billion in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 5.12% from 2023 to 2030. The main factors driving the growth of the market are the increase in demand for tubes in the healthcare sector to give fluids and medications to patients and the increasing cases of respiratory diseases, such as asthma, lung cancer, and pulmonary fibrosis. The pandemic critically impacted the whole industry. In 2021, hospitalization rates escalated steeply which drove the product demand for better patient care.

COVID-19 Impact on the global Advanced Polyamide Tubing Market:

The outbreak of COVID-19 has critically impacted the overall global supply chain of the Advanced Polyamide Tube market. The disruption in production and end-use sector operations has disturbed the Nylon Tube market as well. It affected the overall growth of the industry in the later phase of 2020 and at the start of 2021. The sudden outburst of the pandemic led to the implementation of stringent regulations across various nations causing disruptions in the import and export activities of polyamide tubes. The pandemic affected the global economy in three main ways: by directly disrupting production and demand, by generating supply chain and market disruption, and by its financial effect on firms and financial markets.

Market Drivers:

The rising incidence of diseases and hospitalization among people is boosting the demand for the advanced polyamide tubing market in the global market:

The constantly rising incidences of several diseases along with increasing demand for healthcare settings are the major driving factors of the global advanced polyamide tubing market. This can be attributed to the rising geriatric population and other diseases associated with them in which the tube or pipe is needed. The healthcare and pharmaceutical industry is the major driving industry and the major applicant of advanced polyamide tubing across the globe augmenting the market size.

The increased population along with industrialization fuelling global market size:

With the increase in urban population along with industrialization, there has also been a significant shift in the mindset of people. Improved standard of living and increased disposable income among the middle-class population, along with people’s awareness of their health and well-being have resulted in a remarkable increase in the demand augmenting the advanced polyamide tubing’s market growth.

The wide scope of the R&D sector is driving the advanced polyamide tubing’s market growth:

Huge capital investments are being made in the research and development sector for enlarging the scope of applications and looking for new product launches to come out of the existing polyamide tubing market. Major players in the international market are targeting its popularity and sustainability and trying to make them more accessible and advanced to open up a plethora of opportunities in the industry widening the scope of the global advanced polyamide tubing market. The continuous enhancements in drug delivery systems by medical device manufacturers are resulting in the demand for customizable medical tubes, which is likely to drive the demand for these tubes in drug delivery systems.

Market Restraints: 

The high cost of processing and production associated with it may slow down the market growth rate:

Production and manufacturing of advanced polyamide tubes involve huge costs due to the advanced technologies involved with the process. The high cost of the complex production process together with the increased logistic costs due to fluctuation in the oil pricing may hamper the growth rate of the global advanced polyamide tubing market.

ADVANCED POLYAMIDE TUBING MARKET REPORT COVERAGE:

This research report on the global Advanced Polyamide Tubing Market has been segmented and sub-segmented based on Types, Applications, Regions, and Key Companies.

Advanced Polyamide Tubing Market – By Types

• Nylon 11 Tube

• Nylon 12 Tube

Based on the type, the Advanced Polyamide Tubing Market has been segmented into 2 segments – Nylon 11 Tube and Nylon 12 Tube.

Advanced Polyamide Tubing Market – By Application.

• Chemical Industry

• Aerospace

• Medical

• Others

Based on the applications, the Advanced Polyamide Tubing Market has been segmented into 4 major segments – Chemical Industry, Aerospace, Medical, and Others. The Medical segment led the global polyamide tubing market and accounted for around 35% share of the global revenue in 2022. It includes urological products, surgical instruments, syringes, and needles. The increasing emphasis on preventing the spread of infection from one patient to another is estimated to drive the segment growth during the forecast timeline. Additionally, the spread of COVID-19 had prompted a rise in coronavirus research, propelling the demand for biopharmaceutical laboratory equipment. The consistent and constant supply of laboratory equipment is anticipated to have a positive impact on the growth of the advanced polyamide tubing market in the healthcare sector.

Advanced Polyamide Tubing Market – By Region.

• North America
• Europe
• Asia-Pacific
• South America
• Middle-East and Africa

Based on region, the Advanced Polyamide Tubing Market has been segmented into 5 major regions – North America, Europe, Asia-Pacific, South America, Middle-East, and Africa.North America dominates the global advanced polyamide tubing market in terms of volume and revenue and accounts for around 27% of the global revenue in 2022. The increasing prominence of the healthcare budget has propelled the regional market growth. Technological advancements in the sector to increase efficiency are further fuelling the usage of these tubes in the region.Middle East & Africa is predicted to remain a significant region during the forecast period as new upcoming projects have been lined up in Africa and are estimated to further fuel the market growth over the forecasted years. Asia Pacific region is anticipated to observe a CAGR of 6.72%, during the forecast timeline. The demand for these tubes is increasing rapidly in the region from developing countries such as India, Vietnam, and China. The European region is estimated to showcase a growth rate of 2.9%, in terms of volume, over the forecast timeline. The increase in the population and urbanization in the region with increased activities in the research and development sector is increasing the demand for these tubes in the regional market.

Advanced Polyamide Tubing Market – By Companies.

1. Zeus Industrial Products, Inc

2. 3M

3. SupplyOne, Inc

4.  dlhBOWLES

5. Panduit Corp

6. Camozzi Pneumatics, Inc

7. Mar-Cor Purification

8.  ContiTech North America, Inc

9. Mitsubishi Chemical Advanced Materials Inc

10. Omega Engineering, Inc

11. IMI Precision Engineering

12. Pexco LLC

13. Moriteq Rubber

14. New England Wire Technologies Corp

15. OTEX Specialty Narrow Fabrics Inc

16. Atkins and Pearce, Inc

17. Midland Industries

The Advanced Polyamide Tubing Market is highly fragmented and extremely competitive with key players involved in R&D and constant technological innovation done by the vendors.