In terms of revenue, the Global Nylon Market is expected to reach USD 27.8 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 3.80% from 2022 to 2028.
The Nylon Market is growing due to a number of factors, including the increasing demand for lightweight and strong materials, the increasing use of Nylon in 3D printing, and the growing automotive industry. The demand for lightweight and strong materials is being driven by the aerospace and defense industries, as well as the wind energy industry. Nylon is an ideal material for these applications due to its high strength-to-weight ratio.
The use of Nylon in 3D printing is also increasing, as it is a versatile material that can be used to create a wide variety of parts and products. This is especially beneficial for businesses and consumers who want to create customized products. Lastly, the automotive industry is also driving growth in the Nylon Market, as Nylon is increasingly being used in car parts and components. This is due to its low weight, high strength, and resistance to corrosion and other environmental factors.
Key Highlights from Report:
· Among Products, the Nylon 6 market segment is anticipated to dominate the Nylon Market with the highest market share in the forecast period. Nylon 6 is a general-purpose grade broadly utilized for mechanical construction and maintenance owing to its most favorable combination of mechanical strength, stiffness, and damping properties and superior electrical insulating ability.
· By Applications, the Automotive market segment accounted for the maximum CAGR during the forecast period due to its environmental benefits and advantages that align with global emission rules.
· In terms of region, Asia Pacific held the most significant market share in 2021 and is expected to be the most gainful market in the forecast period. The strong manufacturing base of the automobile and electronics & appliances markets across China, Japan, India, and South Korea is among the key factors that propel the demand for the Asia Pacific Nylon Market.
Due to its nimble weight and excellent composition, Nylon is utilized in automotive engine components like fuse boxes, oil containers, bearings, crankcases, and timing belts. This is one of the major factors driving the market growth. The automotive manufacturing industry is favorably concentrated. Nylon is an essential part of the automotive sector as it is used in making hydraulic clutch lines, front-end grilles, exterior mirrors, and wheel covers, among others, fuelling the growth of the Nylon Market. The increasing need for wires and cables from the building as well as the construction industry is also expected to propel the Nylon industry in the next few years.
Nylon 6, one of the vital product types of Nylon, is used in films and coatings to keep raw materials against corrosion. The high adoption of Nylon 6 in the electrical & electronics market is due to the properties of Nylon 6 like superior electrical insulation, lower flammability, thin walls, laser marking ability, acceptable processability, excellent flow characteristics, high stiffness and toughness, practical ball pressure temperature, high heat distortion temperature, short injection cycle time, and lightweight nature.
Asia Pacific Nylon Market is expected to witness a noteworthy development with a significant growth rate over the analysis period. This surge is because of the high presence of vital Nylon-producing countries in this region. Also, the easy availability of low-cost raw materials, rise in consumer spending power, and cheap labor are other factors driving the regional market growth. China is among the largest producer and consumers of Nylon variants. Moreover, the region’s market growth can be attributable to the rising socio-economic trends and increasing infrastructure development.
The Global Nylon Market is Segmented as follows:
- Nylon 6
- Nylon 66
- Engineering Plastic
- Electrical & Electronics
- Other Applications
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Nylon Market is:
BASF SE (Germany), LANXESS AG (Germany), Huntsman International LLC (US), AdvanSix Inc. (US), Ube Corporation (Japan), INVISTA (US), Domo Chemicals (Belgian), Toray Industries Inc. (Japan), Ashley Polymers Inc., Ascend Performance Materials LLC (US), Toyobo Co. Ltd. (Japan), Goodfellow Group (Canada)
The Global Nylon Market Scope can be Tabulated as below:
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|