Nylon Market To Rise, Due To Improving Socio-Economic Trends And Infrastructure Development, 2030
Nylon Industry Overview
The global nylon market size is expected to reach USD 53.04 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.2% from 2022 to 2030. Increasing demand from engineering plastics, electrical and electronics, textiles, and automotive applications is driving the market. Nylon is widely used in electrical and electronic applications such as the production of tubes for cables and wirings, contactors, connectors, circuit breakers, and low voltage switch gears. Furthermore, the properties of nylon 6 such as enhanced electrical insulation, good processability, thin walls, laser marking ability, low flammability, practical ball pressure temperature, high stiffness and toughness, high heat distortion temperature, excellent flow characteristics, short injection cycle time, and lightweight are fueling the adoption of nylon 6 in the electrical and electronics industry.
Nylon Market Segmentation
Grand View Research has segmented the global nylon market report on the basis of product, application, and region:
Based on the Product Insights, the market is segmented into nylon 6 and nylon 66
The nylon 6 segment led the global market and accounted for more than 55.0% share of the global revenue in 2021. The properties of polyamide 6 make it a suitable cost-effective substitute for materials such as rubbers, other plastics, aluminum, gunmetal, brass, and bronze.
Nylon 6 witnesses substantial demand from the premium carpet industry, which finds its base in Europe. Turkey is known for its extensive nylon-based textile industry and is one of the largest importers of nylon.
The apparel and clothing industry is also witnessing a staggering growth in demand for nylon owing to the consumer preference for experimenting with different types of materials. Nylon 6 fabrics require minimal maintenance, are smooth, and dry quickly.
Nylon 66 show high dimensional stability and enhanced resistance to wear with a melting point of 268°C for a high synthetic fiber due to its low moisture absorption property.
Electrical safety devices need water, high heat, and electromechanical resistance to carry out their functions. Nylon 66 has a stronger and shorter bond, which produces a tighter and denser structure in comparison to Nylon 6.
Based on the Application Insights, the market is segmented into automobile, electrical & electronics, engineering plastics, textiles and others
The automobile application segment led the market and accounted for more than 35.0% share of the global revenue in 2021. Nylon composites help reduce the weight of automotive components and increase the environmental sustainability of automotive parts.
The composites are used to manufacture airbag containers, air intake manifolds, automotive cooling systems, bezels, headlamps, and hydraulic clutch lines. They are also used in exterior parts such as exterior mirrors, front-end grilles, handles, tailgates, fuel caps, and wheel covers.
Nylon composites are expected to witness significant demand in the automotive industry due to factors such as the growing need for lightweight vehicles in order to improve fuel efficiency, wear resistance, and excellent mechanical properties.
The automotive engine compartment extensively uses nylon to replace steel parts due to greater design flexibility as against traditional metals and its lower weight.
According to the European Automobile Manufacturers Association (ACEA), the number of automobiles produced in 2021 was 1.3% higher compared to 2020. This can be attributed to the growing consumer inclination toward electric vehicles and the rise in commercial vehicle demand due to the growing e-commerce sector.
Nylon Regional Outlook
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is moving towards consolidation on account of the presence of a large number of global and regional players. Major players have strong distribution networks and product brands in the global market. The ongoing research & development activities in the market exhibit growth and expansion opportunities for market players, which, in turn, is projected to positively influence the overall market.
Some prominent players in the global nylon market include:
BASF SE
LANXESS
Huntsman International LLC
AdvanSix
Ube Industries Ltd.
Domo Chemicals
TORAY INDUSTRIES, INC.
Ashley Polymers, Inc.
Ascend Performance Materials
TOYOBO CO., LTD.
Goodfellow
Market Industry Development
August 2021: Lululemon Athletica, a Canadian apparel company, collaborated with Genomatica to create plant-based nylon to make lululemon products.
Order a free sample PDF of the Nylon Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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