+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Polyamide Market Size, Share, Trends, By Product Type, By End Use, By Application, and By Region Forecast to 2030

  • PDF Icon

    Report

  • 285 Pages
  • February 2022
  • Region: Global
  • Reports and Data
  • ID: 5623616
The polyamide market size is expected to reach USD 62.10 Billion in 2030 and register a revenue CAGR of 6.2% over the forecast period, according to the latest report. Growing demand for engineering plastics in the automotive and electronics industries is driving market growth. Moreover, the flourishing textile industry is fueling the demand for polyamide fibers.

Polyamide is used in manufacturing engineering plastics that are widely used in the automotive, electrical and electronics, and packaging industries. Polyamide is a linear polymers chain composed of recurring amide groups. nylon 6, nylon 6,6 , nylon 11 , nylon 12 are different types of polyamides.

Engine covers are also produced from polyamides. The most common grades used in this application are the 6 and 66 types due to their good resistance to oil and chemicals, dimensional stability and rigidity. Other less frequently used grades in engine covers are the 11 and 12 types due to their good resistance to heat, flexibility and toughness. Transmission covers are also produced from polyamides. The most common grades used in this application are the 6 and 66 types due to their good resistance to oil and chemicals, dimensional stability and rigidity. Other less frequently used grades in transmission covers are the 11 and 12 types due to their good resistance to heat, flexibility and toughness.

The government is focusing its attention on the development of infrastructure and this is likely to fuel the demand for polyamide during the forecast period. The increased focus on public-private partnerships and modernization is projected to increase the demand for polyamide over the next five years.

Some Key Highlights from the Report

  • Among product type segment, PA 6 segment accounted for the largest market revenue share in 2021 due to its increased adoption in manufacturing engineering plastics, coatings & adhesives, and fibers & textiles applications. The Asia Pacific was the largest market for polyamide in 2021 owing to the demand from end-use industries such as automotive & transportation, electrical & electronics, and packaging among others. Increasing government initiatives for the development of infrastructure and growing automotive industry in the region is likely to supplement the market growth in the coming years.
  • The engineering plastics segment accounted for a revenue share of USD 34.80 Billion in 2020 and is projected to grow at a CAGR of 6.1% during the forecast period. The rapid growth of the automotive industry, especially in Asia Pacific and North America, is projected to drive market growth. In addition, the growing demand for light-weight and fuel-efficient vehicles is fuelling the demand for engineering plastics.
  • The synthetic leather segment is expected to grow at a CAGR of 6.4% during the forecast period on account of the growing demand for eco-friendly and cruelty-free leather alternatives. Moreover, the flourishing footwear industry is projected to fuel market growth.
  • The automotive segment accounted for a revenue share of USD 11.48 Billion in 2020 and is expected to grow at a CAGR of 6.1% during the forecast period. The growing demand for engineering plastics in the automotive industry is projected to drive market growth. Moreover, the rising demand for light-weight and fuel-efficient vehicles is fuelling the demand for polyamide engineering plastics.
  • The Asia Pacific region accounted for a revenue share of USD 24.89 Billion in 2020 and is projected to grow at a CAGR of 6.5% during the forecast period. The presence of a large number of manufacturing companies in the region is projected to drive market growth. Moreover, the growing automotive and electronics industries are fuelling the demand for polyamide engineering plastics.
Companies profiled in the global market report include BASF SE, AdvanSix Inc., Domo Chemicals, Toray Industries Inc., DSM, Ascend Performance Materials LLC, Lanxess AG, Huntsman Corporation, Evonik Industries AG., Asahi Kasei Corporation.

For the purpose of this report, the publisher has segmented the polyamide market based on product type, end-use, application, and region:


Product Type Outlook (Revenue, USD Million; 2019-2030)

  • PA 6
  • PA 66
  • Bio-Based Polyamide
  • Others

End use Outlook (Revenue, USD Million; 2019-2030)

  • Automotive
  • Aerospace & Defense
  • Electrical & Electronics
  • Textile
  • Films & Coating
  • Sports & Leisure
  • Industrial
  • Others

Application Outlook (Revenue, USD Million; 2019-2030)

  • Polyamide Fibers & Films
  • Engineering Plastics
  • Polyamide Adhesives
  • Others

Regional Outlook (Revenue, USD Million; 2019-2030)

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Sweden
  • BENELUX
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
  • Latin America
  • Brazil
  • Rest of LATAM
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Israel
  • Rest of MEA

Table of Contents

Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2030
Chapter 3. Indicative Metrics
Chapter 4. Polyamide Market Segmentation & Impact Analysis
4.1. Polyamide Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.2.1. Increasing demand from the automotive industry
4.2.2.2. Growth in electrical & electronics applications
4.2.2.3. Increasing investments and R&D in bio-based & specialty polyamides.
4.2.2.4. Rise in disposable income
4.2.3. Market restraints analysis
4.2.3.1. Sophisticated production process
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Price trend Analysis
4.6. Customer Mapping
4.7. Covid-19 Impact Analysis
4.8. Global Recession Influence
Chapter 5. Polyamide Market By Product Type Insights & Trends
5.1. Product Type Dynamics & Market Share, 2022 & 2030
5.2. PA 6
5.2.1. Market estimates and forecast, 2019 - 2030 (USD Million)
5.2.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
5.3. PA 66
5.3.1. Market estimates and forecast, 2019 - 2030 (USD Million)
5.3.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
5.4. Bio-Based Polyamide
5.4.1. Market estimates and forecast, 2019 - 2030 (USD Million)
5.4.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
5.5. Others
5.5.1. Market estimates and forecast, 2019 - 2030 (USD Million)
5.5.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
Chapter 6. Polyamide Market By End Use Insights & Trends
6.1. End Use Dynamics & Market Share, 2022 & 2030
6.2. Automotive
6.2.1. Market estimates and forecast, 2019 - 2030 (USD Million)
6.2.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
6.3. Electrical & Electronics
6.3.1. Market estimates and forecast, 2019 - 2030 (USD Million)
6.3.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
6.4. Aerospace & Defense
6.4.1. Market estimates and forecast, 2019 - 2030 (USD Million)
6.4.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
6.5. Textile
6.5.1. Market estimates and forecast, 2019 - 2030 (USD Million)
6.5.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
6.6. Films & Coating
6.6.1. Market estimates and forecast, 2019 - 2030 (USD Million)
6.6.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
6.7. Sports & Leisure
6.7.1. Market estimates and forecast, 2019 - 2030 (USD Million)
6.7.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
6.8. Industrial
6.8.1. Market estimates and forecast, 2019 - 2030 (USD Million)
6.8.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
6.9. Others
6.9.1. Market estimates and forecast, 2019 - 2030 (USD Million)
6.9.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
Chapter 7. Polyamide Market By Application Insights & Trends
7.1. Application Dynamics & Market Share, 2022 & 2030
7.2. Polyamide Fibers & Films
7.2.1. Market estimates and forecast, 2019 - 2030 (USD Million)
7.2.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
7.3. Engineering Plastics
7.3.1. Market estimates and forecast, 2019 - 2030 (USD Million)
7.3.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
7.4. Polyamide Adhesives
7.4.1. Market estimates and forecast, 2019 - 2030 (USD Million)
7.4.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
7.5. Others
7.5.1. Market estimates and forecast, 2019 - 2030 (USD Million)
7.5.2. Market estimates and forecast, By Region, 2019 - 2030 (USD Million)
Chapter 8. Polyamide Market Regional Outlook
8.1. Polyamide Market Share by Region, 2022 & 2030
8.2. North America
8.2.1. North America Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.2.2. North America Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.2.3. North America Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.2.4. North America Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.2.5. U.S.
8.2.5.1. U.S. Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.2.5.2. U.S. Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.2.5.3. U.S. Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.2.5.4. U.S. Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.2.6. Canada
8.2.6.1. Canada Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.2.6.2. Canada Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.2.6.3. Canada Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.2.6.4. Canada Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.2.7. Mexico
8.2.7.1. Mexico Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.2.7.2. Mexico Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.2.7.3. Mexico Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.2.7.4. Mexico Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.3. Europe
8.3.1. Europe Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.3.2. Europe Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.3.3. Europe Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.3.4. Europe Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.3.5. Germany
8.3.5.1. Germany Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.3.5.2. Germany Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.3.5.3. Germany Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.3.5.4. Germany Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.3.6. U.K.
8.3.6.1. U.K. Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.3.6.2. U.K. Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.3.6.3. U.K. Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.3.6.4. U.K. Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.3.7. France
8.3.7.1. France Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.3.7.2. France Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.3.7.3. France Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.3.7.4. France Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.3.8. Italy
8.3.8.1. Italy Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.3.8.2. Italy Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.3.8.3. Italy Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.3.8.4. Italy Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.3.9. Spain
8.3.9.1. Spain Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.3.9.2. Spain Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.3.9.3. Spain Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.3.9.4. Spain Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.3.10. Sweden
8.3.10.1. Sweden Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.3.10.2. Sweden Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.3.10.3. Sweden Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.3.10.4. Sweden Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.3.11. BENELUX
8.3.11.1. BENELUX Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.3.11.2. BENELUX Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.3.11.3. BENELUX Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.3.11.4. BENELUX Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.3.12. Rest of Europe
8.3.12.1. Rest of Europe Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.3.12.2. Rest of Europe Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.3.12.3. Rest of Europe Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.3.12.4. Rest of Europe Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.4. Asia-Pacific
8.4.1. Asia-Pacific Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.4.2. Asia-Pacific Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.4.3. Asia-Pacific Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.4.4. Asia Pacific Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.4.5. China
8.4.5.1. China Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.4.5.2. China Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.4.5.3. China Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.4.5.4. China Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.4.6. India
8.4.6.1. India Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.4.6.2. India Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.4.6.3. India Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.4.6.4. India Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.4.7. Japan
8.4.7.1. Japan Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.4.7.2. Japan Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.4.7.3. Japan Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.4.7.4. Japan Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.4.8. South Korea
8.4.8.1. South Korea Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.4.8.2. South Korea Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.4.8.3. South Korea Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.4.8.4. South Korea Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.4.9. Rest of APAC
8.4.9.1. Rest of APAC Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.4.9.2. Rest of APAC Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.4.9.3. Rest of APAC Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.4.9.4. Rest of APAC Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.5. Latin America
8.5.1. Latin America Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.5.2. Latin America Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.5.3. Latin America Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.5.4. Latin America Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.5.5. Brazil
8.5.5.1. Brazil Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.5.5.2. Brazil Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.5.5.3. Brazil Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.5.5.4. Brazil Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.5.6. Rest of LATAM
8.5.6.1. Rest of LATAM Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.5.6.2. Rest of LATAM Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.5.6.3. Rest of LATAM Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.5.6.4. Rest of LATAM Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.6. Middle East and Africa
8.6.1. Middle East and Africa Polyamide market estimates and forecast, 2019 - 2030, (USD Million)
8.6.2. Middle East and Africa Polyamide market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.6.3. Middle East and Africa Polyamide market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.6.4. Middle East and Africa Polyamide market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.6.5. Saudi Arabia
8.6.5.1. Saudi Arabia Polyamide market estimates and forecast, 2019 - 2030, (USD Million)
8.6.5.2. Saudi Arabia Polyamide market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.6.5.3. Saudi Arabia Polyamide market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.6.5.4. Saudi Arabia Polyamide market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.6.6. UAE
8.6.6.1. UAE Polyamide market estimates and forecast, 2019 - 2030, (USD Million)
8.6.6.2. UAE Polyamide market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.6.6.3. UAE Polyamide market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.6.6.4. UAE Polyamide market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.6.7. South Africa
8.6.7.1. South Africa Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.6.7.2. South Africa Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.6.7.3. South Africa Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.6.7.4. South Africa Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.6.8. Israel
8.6.8.1. Israel Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.6.8.2. Israel Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.6.8.3. Israel Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.6.8.4. Israel Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
8.6.9. Rest of MEA
8.6.9.1. Rest of MEA Polyamide Market estimates and forecast, 2019 - 2030, (USD Million)
8.6.9.2. Rest of MEA Polyamide Market estimates and forecast By Product Type, 2019 - 2030, (USD Million)
8.6.9.3. Rest of MEA Polyamide Market estimates and forecast By End Use, 2019 - 2030, (USD Million)
8.6.9.4. Rest of MEA Polyamide Market estimates and forecast By Application, 2019 - 2030, (USD Million)
Chapter 9. Competitive Landscape
9.1. Market Revenue Share by Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. BASF SE
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. AdvanSix Inc.
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. Domo Chemicals
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4. Toray Industries, Inc.
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. DSM
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Technology Insights
10.5.4. Strategic Initiatives
10.6. Ascend Performance Materials LLC
10.6.1. Company Overview
10.6.2. Financial Performance
10.6.3. Technology Insights
10.6.4. Strategic Initiatives
10.7. Lanxess AG
10.7.1. Company Overview
10.7.2. Financial Performance
10.7.3. Technology Insights
10.7.4. Strategic Initiatives
10.8. Huntsman Corporation
10.8.1. Company Overview
10.8.2. Financial Performance
10.8.3. Technology Insights
10.8.4. Strategic Initiatives
10.9. Evonik Industries AG.
10.9.1. Company Overview
10.9.2. Financial Performance
10.9.3. Technology Insights
10.9.4. Strategic Initiatives
10.10. Asahi Kasei Corporation
10.10.1. Company Overview
10.10.2. Financial Performance
10.10.3. Technology Insights
10.10.4. Strategic Initiatives

Companies Mentioned

  • BASF SE
  • AdvanSix Inc.
  • Domo Chemicals
  • Toray Industries Inc.
  • DSM
  • Ascend Performance Materials LLC.,Lanxess AG
  • Huntsman Corporation
  • Evonik Industries AG.
  • Asahi Kasei Corporation