The global nylon market is driven by rapid technological
advancements in manufacturing of nylon. Technological advancements
play a significant role in driving innovation within the nylon
market. Ongoing research and development efforts focus on enhancing
nylon's properties, improving manufacturing processes, and
expanding its applications. Advancements in polymer chemistry have
led to the development of new nylon formulations with enhanced
performance characteristics, such as higher heat resistance,
improved mechanical properties, and increased durability. In
addition, innovations in processing technologies, such as injection
molding and 3D printing, have enabled the production of complex
nylon parts with greater precision and efficiency, opening-up new
opportunities in various industries.
WILMINGTON, Del., May 14, 2024
/PRNewswire/ -- Allied Market Research published a report, titled,
"Nylon Market by Type (Nylon 6, Nylon 6,6;
Nylon 6.10; Nylon 4.6; and Nylon 11 & 12), End-use Industry
(Automobile, Electrical & Electronics, Aerospace, Textile,
Packaging, and Others): Global Opportunity Analysis and Industry
Forecast, 2023-2033". According to the report, the "nylon
market" was valued at $31.3 billion
in 2023, and is estimated to reach $49.1
billion by 2033, growing at a CAGR of 4.6% from 2023 to
2033.
Prime determinants of growth
The global nylon market is driven by rising demand from various
end-use sector. Nylon's versatility across a wide range of
industries drives its market growth. From textiles to automotive,
consumer goods to industrial applications, nylon finds extensive
usage due to its exceptional properties. In textiles, nylon is
favored for its durability, elasticity, and resistance to abrasion,
making it suitable for clothing, carpets, and upholstery.
Similarly, in the automotive sector, nylon's lightweight nature,
high strength-to-weight ratio, and heat resistance make it ideal
for components such as engine covers, air intake manifolds, and
fuel systems. However, availability of substitute materials may
restrain the growth of the nylon market.
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Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2023–2033
|
Base
Year
|
2023
|
Market Size in
2023
|
$31.3
billion
|
Market Size in
2033
|
$49.1
billion
|
CAGR
|
4.6 %
|
No. of Pages in
Report
|
380
|
Segments
covered
|
Type, End-use Industry,
and Region
|
Drivers
|
Versatility across
industries
Lightweighting
initiatives
Technological
Advancements
Economic
Trends
|
Opportunities
|
Technological
Advancements
Rise in sustainability
initiatives
|
Restraints
|
Availability of
substitutes
Price volatility of raw
materials
Limited recycling
infrastructures
|
The nylon 6,6 segment to maintain its lead position during the
forecast period.
By type, the nylon 6 segment accounted for the largest share in
2023, contributing to more than half of the global nylon
market revenue. The demand for nylon 6 has experienced robust
growth due to its versatility, durability, and cost-effectiveness
across various industries. Nylon 6's exceptional mechanical
properties, including high tensile strength, toughness, and
resistance to abrasion, make it indispensable in applications such
as textiles, automotive components, consumer goods, and industrial
equipment. Its lightweight nature contributes to fuel efficiency in
automotive parts, while its affordability makes it an attractive
option for manufacturers seeking reliable yet economical materials.
Additionally, nylon 6's recyclability aligns with sustainability
initiatives, further driving its increasing demand as industries
prioritize environmental responsibility and resource
efficiency.
The electrical and electronics segment to maintain its lead
position during the forecast period.
By end-use industry, the automobile segment accounted for the
largest share in 2023, contributing to more than
one-fourth of the global nylon market revenue. The demand for nylon
in the automobile sector is witnessing a significant upsurge due to
several key factors. Firstly, the industry's focus on
lightweighting to enhance fuel efficiency and reduce emissions has
prompted the adoption of nylon, which offers high
strength-to-weight ratio and durability, enabling the production of
lighter yet resilient automotive components. In addition, nylon's
versatility allows for its utilization in a wide array of
applications within vehicles, ranging from under-the-hood
components like engine covers and intake manifolds to interior
parts such as airbag housing and seating fabrics. Furthermore,
advancements in nylon formulations and manufacturing techniques
have enabled the development of innovative solutions meeting
stringent automotive performance standards. As automotive
manufacturers strive to meet evolving regulatory requirements,
improve vehicle performance, and cater to consumer preferences for
more sustainable materials, the demand for nylon continues to grow
steadily in the automobile sector.
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Asia-Pacific to
maintain its dominance by 2032.
By region, Asia-Pacific held
the highest market share in terms of revenue in 2023, accounting
for more than half of the global nylon market and is projected to
register the highest CAGR of 4.9% during the forecast period. The
demand for nylon is experiencing significant growth in the
Asia-Pacific region due to several
key factors. Firstly, rapid industrialization and urbanization in
countries such as China,
India, and Southeast Asian nations
drive increased consumption of nylon-based products across various
sectors, including textiles, automotive, electronics, and consumer
goods. Moreover, rising disposable incomes and expanding
middle-class populations in these countries are fueling demand for
nylon in applications such as apparel, home furnishings, and
personal care products. In addition, infrastructure development
projects, particularly in emerging economies, require nylon for
applications like pipes, cables, and construction materials,
further boosting market demand. Furthermore, the region's emphasis
on sustainability and environmental conservation is driving the
adoption of nylon, which can be recycled and reused, aligning with
the growing consumer preference for eco-friendly materials. As a
result of these factors, the demand for nylon is steadily growing
in the Asia-Pacific region,
presenting significant opportunities for market expansion and
investment.
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Strategies:
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Leading Market Players: -
- DuPont
- BASF SE
- Lanxess AG
- NYCOA
- Ascend Performance Materials LLC
- DOMO Chemicals
- SINOPEC
- Formosa Chemicals & Fibre Corp.
- INVISTA
- Domo Chemicals
The report provides a detailed analysis of these key players in
the global nylon market. These players have adopted different
strategies such as new product launches, collaborations, expansion,
joint ventures, agreements, and others to increase their market
share and maintain dominant shares in different regions. The report
is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
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