Nylon Market Size, Industry Share & Future Forecast 2032

The global nylon market size was valued at USD 31.09 billion in 2023 and is projected to grow from USD 32.64 billion in 2024 to USD 48.86 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period. This is attributable to the increasing focus on developing innovative products and the growing demand for nylon 66 in the packaging industry across the globe. Fortune Business Insights™, in its latest report, titled, “Nylon Market Size, Share & COVID-19 Impact Analysis, By Type (Nylon 6 {resin & fiber} Nylon 6,6 {resin & fiber}), By Application (Automotive, Electrical & Electronics, Appliances, Film & Coating, Wire & Cable, Consumer, Industrial & Machinery and others), and Regional Forecast, 2025-2032,”.

Nylon is a type of polymer that is produced by the reaction between carbon-based chemicals that are usually found in petroleum and coal under high pressure. It is widely adopted to manufacture plastic machine parts and electronics owing to its high tensile strength, non-conductivity, heat resistance, and low-cost properties. Additionally, it is used for manufacturing bolts, screws, nuts, and washers in the automotive industry across the globe.

Get Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/covid19-impact/nylon-market-102007

Segmentation Analysis:

By Type Analysis: By type, the market is segregated into Nylon 6 (resin, fiber) and Nylon 6,6 (resin, fiber). Nylon 6 fibers dominate the global market due to their strong adoption in the textile industry. Due to its high mechanical strength, toughness, and wear resistance, it is used to manufacture webbing products such as dog leashes, safety belts, luggage straps, sports goods, and others.

By Application Analysis: By application, the market is categorized into automotive, electrical & electronics, appliances, film & coatings, wire & cables, consumer, industrial & machinery, and others. The automotive segment accounted for the largest nylon market share in 2023. Due to the high usability of the resin and fiber in automobiles in the form of tire cord, airbags, and injection molded components, results in high revenue generation from the automotive segment. The demand for plastics to optimize fuel efficiency and reduce vehicle weight is continuously increasing in the automotive industry. With the increasing sales of electric vehicles and the establishment of proper electric vehicle infrastructure, engineering plastics are expected to play a major role.

List of the Companies Profiled in the Market:

  • DuPont (U.S.)
  • BASF SE (Germany)
  • Lanxess AG (Germany)
  • Nylon Corporation of America, Inc. (NYCOA) (U.S.)
  • Shenma Industrial (China)
  • Ascend (Thailand)
  • Domo Chemicals (Belgium)
  • Radici Partecipazioni SpA (Italy)
  • Invista (U.S.)
  • DSM (The Netherlands)
  • Formosa Group (Taiwan)
  • SINOPEC (China)
  • Ube Industries (Japan)
  • LIBOLON (Japan)
  • ZIG SHENG INDUSTRIAL CO., LTD. (Taiwan)
  • Other

DRIVING FACTORS:

Increasing Adoption of Product from the Packaging Industry to Favor Growth

Polymeric products such as nylon 66 have excellent properties such as high elasticity that are extensively adopted across several industries. For instance, they are adopted as films and coatings in the packaging industry owing to their high tensile strength and toughness. The industrial applications include packaging of food and fluids such as oils, grease, and acidic food and they are in great demand across other industrial applications. Additionally, the increasing focus on developing advanced nylon products to cater to the increasing consumer demand is expected to bode well for the growth of the global nylon market in the forthcoming years.

Inquire Before Buying This Research Report:

https://www.fortunebusinessinsights.com/enquiry/queries/nylon-market-102007

REGIONAL INSIGHTS:

Increasing Demand for Films & Coating in Asia-Pacific to Aid Growth

Among all the regions, the market in Asia-Pacific stood at USD 13.92 billion in 2019 and is expected to hold the highest position in the global market during the forecast period. This is attributable to the increasing demand for films and coating from the packaging industry in countries such as India and China in the region.

North America is anticipated to experience significant growth owing to the growing automotive industry and the increasing production of nylon 66 polymers by the manufacturers between 2020 and 2027.

COMPETITVE LANDSCAPE:

Major Companies Focus on Product Expansion Facilities to Strengthen Their Market Positions

The global nylon market is fragmented by the presence of several major companies that are focusing on consolidating their positions by expanding their production facilities and cater to the increasing demand for the product across several industrial applications. The other key players are adopting strategies such as merger and acquisition, partnership, and collaboration to maintain their presence in the highly competitive global marketplace.

Industry Development:

  • April 2023: Microwave Chemical and Asahi Kasei together launched a demonstration project for the commercialization of the chemical recycling process for Nylon 66 using microwave technology.
  • April 2023: Tire and nylon manufacturing company Kordsa announced to invest USD 50 million for the expansion of its nylon production at its Chattanooga plant. The move is anticipated to enable the company to meet the rising demand from the automotive industry.

Get your Customized Research Report:

https://www.fortunebusinessinsights.com/enquiry/customization/nylon-market-102007

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights Pvt. Ltd.

9th Floor, Icon Tower,

Baner – Mahalunge Road, Baner,

Pune-411045, Maharashtra, India.

Phone:

US: +18339092966

UK: +448085020280

APAC: +91 744 740 1245
Email: [email protected]

Leave a Reply

Your email address will not be published. Required fields are marked *

BDnews55.com