Press release
Nylon Market Size to Grow at a CAGR of 5.70% Between 2023-2028
Nylon Market
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter's Five Forces Models.
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The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): Over USD 31.46 Billion
Forecast CAGR (2023-2028): 5.70%
Due to its high tensile strength, excellent abrasion resistance, and enhanced photodegradation resistance, nylon 6 finds wide usage in various industrial applications, including the manufacturing of electronic equipment, machine parts, and metallic devices. The lightweight and impact-resistant properties also make nylon 6 an ideal material for usage in military, industrial, and automotive components, including engines, firearms, and gears, among others.
In addition to this, nylon 6 is available in transparent grades, has high flex fatigue and impact strength, and can be processed at lower temperatures, which is boosting its usage in applications like heavy-duty fabrics, switchgear, stadium seats, industrial yarn, and machine guards, among others.
Amid the increasing demand for sustainable materials, key players in the nylon market are attempting to develop plant-based nylon-6 for use in different applications ranging from the apparel and automotive sectors.
Nylon Industry Definition and Major Segments
Nylon, variously known as polyamide fibre, refers to synthetic polymers that be easily processed into films, films, and moulded products, among others. It has excellent heat, wear, and chemical resistance properties, and finds extensive usage in diverse end-use sectors, including electronics, coatings, and automotive, among others.
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The market, on the basis of type, is categorised into:
Nylon 6
Nylon 6,6
Others
Based on application, the market is divided into:
Automotive
Film and Coatings
Industrial
Consumer
Electrical and Electronics
Appliances
Wire and Cables
Others
The major regions in the nylon market include:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Nylon Market Trends
The Asia Pacific region accounts for a significant market share due to the rising usage of nylon in automotive applications. Countries like China, India, South Korea, and Japan in the region are home to major automotive manufacturers like Nissan, Hyundai, Tata Motors, and Toyota, among others.
Moreover, rising disposable incomes, the emerging middle-class population, and the surging demand for passenger and commercial cars are bolstering the use of nylon. Governments in the region are also introducing favourable policies to increase indigenous manufacturing activities, hence driving the nylon market demand.
The flourishing construction sector in developing countries like India, Indonesia, and China, among others, is driving the utilisation of nylon in pipes, plumbing fittings, sheets, and tubes, among others. Furthermore, the customisation, durability, flexibility, affordability, and abrasion resistance benefits are expected to boost the use of nylon in 3D printing applications in the coming years.
Key Market Players
The major players in the nylon market report are:
BASF SE,
E. I. du Pont de Nemours and Company
Ascend Performance Materials LLC
LANXESS Corporation
Koninklijke DSM N.V.
Solvay SA
Invista
Libolon Enterprise Co. Ltd
Honeywell International Inc.
Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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