Market Synopsis
The nylon market trend is projected to witness significant growth during the review period, exhibiting a CAGR of 5.47%. The market is expected to reach a value of USD 45,140.1 million by the end of the forecast period (2022–2030). In terms of volume, the market size was 8,541.3 kilotons in 2021 and is projected to reach 12,268.1 kilotons by the end of 2030 exhibiting a CAGR of 4.35%.
The prime drivers of the global nylon market include the growing automotive industry. The use of polyamides in components such as air intake manifolds, rocker covers, radiator end tanks, fuel rails, and electrical connectors is increasing. The demand for polyamides in automotive manufacturing can be attributed to their lightweight and high strength properties. Other key driver of the global market is the use of nylon in textile, consumer good, and sports applications. However, the availability of low-cost and similar functioning substitutes in the market is expected to hamper the market growth.
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Competitive Landscape
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. On account of the higher demand for nylon 6 and 66, many nylon manufacturers, such as BASF SE, TOYOBO CO., LTD., Domo Chemicals, Ascend Performance Materials, and Ube Industries Ltd., have increased their production capacities to meet the rising demand from the application industries. Mergers acquisitions are among the key strategies adopted by these companies to remain competitive.The competitive rivalry among the manufacturers of Nylon is high as the market is characterized by the presence of a large number of global and regional players. Raw material suppliers play a crucial role in the value chain as they provide basic raw materials that are required to initiate the manufacturing process of nylon products. The outstanding performance of nylon to manufacture lightweight and fuel-efficient automobiles will continue to support the expansion of demand in the automotive industry during the forecast period.Some prominent players in the global nylon market include AdvanSix Inc., Invista, Ascend Performance Materials, Nylon Corporation of America, Inc. (NYCOA), Laxness, Domo Chemicals, Radici Partecipazioni SpA, Evonik, Toray Industries, Libolon, TOYOBO CO LTD, DuPont, LyondellBasell Industries N.V., Evonik Industries AG, SABIC BASF SE, Shenma Industrial Co., Ltd, Arkema S.A, and others.
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Segmentation
By Type
- Nylon 6: The two most important grades of nylon are nylon 6,6 and nylon 6. Both nylon 6 and nylon 6,6 have the same ratio of carbon, oxygen, hydrogen, and nitrogen, which possess similar properties. Type 6 Nylon, sometimes known as Nylon 6, is a synthetic thermoplastic polyamide that is frequently used in commercial carpets.
- Nylon 6,6 : Nylon 6,6 typically has a higher melting point, a higher modulus, and slower permeability and moisture absorption than nylon 6, while nylon 6 has a little bit better ductility and impact resistance. Nevertheless, there are some differences. Under similar processing conditions, nylon 6,6 is typically more crystalline and more ordered than nylon 6.
- Nylon 12 : Nylon 12 is often reinforced with glass fiber or carbon fiber by a pultrusion process that melts and impregnates the fiber with the matrix resin of nylon 12 to increase performance such as stiffness, strength, and durability. This composite’s mechanical properties allow its use in a wide range of applications across multiple segments as a lightweight replacement for metals or as an engineered substitute for other materials. Carbon fiber reinforced grade of nylon 12 offers superior performance characteristics.
- Others: nylon 6/6–6, nylon 6/9, nylon 6/10, nylon 6/12, nylon 11 are some other types of nylon.
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By Application
- Automotive: By application, the automotive segment is further divided into brake tubes, fluid lines, cluster tubes, electrical systems, and others. Excellent toughness and strength at times of exposure to extreme heat, chemicals, fluids, and dry conditions are few properties that drive their consumption in functional components for automotive thermal management and other demanding applications.
- Electrical Electronics: By application, the electrical and electronics segment is bifurcated into plug-in connectors, switchboard housing, connection box, cable ducts, and others. Nylon offer a unique combination of flexibility, high-temperature resistance, and strength along with excellent processing characteristics.
- Packaging: The others segment includes films for packaging applications (food packaging, non-food packaging), profiles for interior trim in aircraft, conveyor belts, and thermoplastic composite tapes, among others. Since nylon is both excellent at blocking oxygen and permeable to carbon dioxide (CO2), it is perfect for packaging cheese since it prevents the packaging from ballooning if CO2 is generated during storage.
- Textile: The family of synthetic polymers known as nylon is frequently utilized to create a wide range of consumer products and clothes. Contrary to other organic or semi-synthetic fibres, nylon fibres are totally synthetic, meaning they have no organic substance as their starting point.
- Sports: Nylon 12 and its composites are used to manufacture consumer goods such as sports leisure products (bicycle derailleur, sports shoes (football shoe soles, ski boots), protective eyewear, skis, and other winter sports equipment); frames and lenses for glasses, goggles, protective eyewear, and other optical applications; flake jackets; chair castors; toothbrush bristles; decorative and protective films; paint spray hoses; cable ties; and fastening elements.
- Others: The others segment includes sports equipment, medical devices, laboratory equipment, and. The use of nylon in sports equipment enhances the comfort of the athlete compared to other materials. nylon are lightweight and thus can be used in bicycles, ice hockey skates, protective goggles, and eyewear.
By Region
- North America: In North America, market is primarily driven by the growth of the automotive, aerospace, and key manufacturing industries also availability of low-cost raw materials and labor, coupled with the increased spending power, is a major driver for the market in this region. Nylon is gaining attention from electrical and electronics manufacturers as plastic parts are more compact and can be easily integrated with other components.
- Europe: The European automotive industry accounts for more than 90% of total regional nylon demand and its downturn has hit hard. Germany has led the European automotive market, and it is expected to continue to do so throughout the projected period.
- Asia-Pacific: Increasing concerns over the size and carbon footprint of electrical devices are majorly driving product demand. As the market reaches out to new entrants and new consumers, most countries within the Asia Pacific are witnessing a fall in the unit price of nylon.
- Latin America: The nylon industry in Latin America is primarily driven by the growth of the automotive, aerospace, and key manufacturing industries. Increased application of engineering plastics in various industries such as aerospace, automobile, defense, and electrical and electronics is boosting the demand for nylon in Latin America.
- Middle East and Africa: In this Middle East and Africa, usage of nylon in the automotive sector is one of the driving factor for the market. Fuel efficiency and emission standards have compelled automotive manufacturers to shift their focus toward the inculcation of nylons in various applications such as powertrain, electrical components, chassis, trim components, and other vehicle areas.
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