Nylon Fibers Market Overview: The Nylon Fibers Market is projected to grow at 4.20% CAGR during the Forecast period.
Nylon Fibers Market are artificially synthesized polymers having better durability than other natural fibers such as jute, silk, hemp, and others. These fibers are known for their properties such as high abrasion, excellent resilience, and long life span. Owing to its remarkable properties, nylon fibers are widely used in textile industries to manufacture hosiery, knitted clothing, umbrella, bridal veils, parachutes, and others.
The global market is expected to be driven by increased demand for nylon fibers in the manufacturing of textiles such as clothes, ropes, awnings, and others. This is primarily attributed to the increased use of nylon 6, 6 and nylon 6 in the production of carpets and knitted clothes on account of their high abrasion resistance and flexibility. In addition, these fabrics are also used to impart luster in high-end fabrics such as chiffon and organza. The surging demand for nylon fibers in the production of consumer goods such as toothbrush bristles, toy cars, strings of musical instruments and others is likely to fuel the demand for nylon fibers in the coming years.
In addition, on account of their high chemical resistance, the increasing use of nylon fibers as filter media in various industrial applications is further augmenting the market growth. For instance, nylon fibers membranes are highly recommended for filtering protein-free culture media.
Some of the noted trends in the global nylon market include expansion of production capacities by the major players operating in the market. For instance, Evonik Industries AG is expanding its production capacity for nylon 1, 2 in Germany and the production plant is expected to become operational by 2021. The company is investing over USD 400 million in the new plant. The latter expansion by the company is in-line with the growing demand of nylon 1, 2 in end-use industries such as oil and gas, automotive and others.
Furthermore, the increasing use of nylon fibers in industrial and domestic applications coupled with innovative advancements in the production of composite fibers with superior properties are further creating lucrative opportunities for the players operating in nylon fibers market.
However, nylon fibers are non-biodegradable, thus result in several environment-related hazards such as increase in global warming and emissions of GHG gases in the atmosphere. The growing environmental concerns are likely to hamper its growth in the global market.
Evonik Industries AG (Germany), BASF SE (Germany), Solvay (Belgium), Radici Partecipazioni SpA (Italy), Shenma Industrial Co., Ltd. (China), Ascend Performance Materials (US), INVISTA (US), Asahi Kasei Corporation (Japan), DuPont de Nemours, Inc. (US), EMS-CHEMIE HOLDING AG (Switzerland), Shakespeare Company, LLC. (US), and LIBOLON (Taiwan).
The global nylon fibers market is analyzed for five major regions, namely– North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa.
The market in Asia-Pacific dominates the global nylon fibers market and is projected to register the highest CAGR during the forecast period owing to the rapidly increasing population coupled with rising disposable income. China is the largest consumer in the global nylon fibers market and is the fastest-growing market in the region and thus contributes 56% of the world’s nylon fiber production in 2018. Furthermore, the increasing exports in India and other Southeast Asian countries are propelling market growth in the region. For instance, according to India Brand Equity Foundation (IBEF) the overall exports in India during the fiscal year 2017-2018 stood at USD 39.2 billion and is expected to increase to USD 82.0 billion by 2021.
North America accounted for a substantial market share in 2018. The growing demand for the high strength and lightweight fabric for outdoor applications such as patio umbrellas, awnings, and others, coupled with the significant expansion in the region is further augmenting the regional demand. For instance, in 2018 Ascend Performance Materials announced its expansion plans to raise the capacity for nylon 6,6 by 10–15% by the end of 2018 and is further planning to invest in capacity additions from 2019–2022.
Europe is also expected to register significant growth during the forecast period due to the extensive use of nylon fibers in the production of automobile components such as hoses, airbags, tire cord, and others. Additionally, the rising environmental concerns in the region coupled with the development of eco-friendly nylon fibers is further propelling the regional market growth. For instance, ECONYL An Italian company artificially produces regenerated ECONYL yarn using nylon wastes from landfills and oceans, thus help in delivering sustainable products.
Latin America and the Middle East & Africa are expected to show substantial growth during the forecast period owing to increasing per capita disposable income in the regions.
The global nylon fibers market has been segmented based on type, application, and region.
Based on type, the global market is classified into nylon-6,6, nylon-6, nylon-6,10, nylon-11, and others.
Based on application, the global market has been classified as technical textile, textile, filtration, fishing, consumer goods, and others.
By region, the market has been categorized as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.Recent DevelopmentJuly 2021- Avient Corp. has disclosed the accessibility of the latest series called Complēt long fiber-reinforced thermoplastic (LFT) with improved smooth surface aesthetics and moisture resistance based on nylon composites. The designs include nylon 6 and 6/6 with prolonged moisture absorption that results in boosting the efficiency of their structural performance in moist surroundings.These latest materials by Avient also remarkably focus on conflicting surface presence problems with long fiber polyamides that have impacted quality assessments in the past. Complēt’s LFT grades employed with moisture-resistant nylon include surfaces, which are soft and virtually free of visible fiber, making it an ideal choice for a wide variety of consumer applications.April 2021- a global leader in premium Nylon 6.6, NILIT, has happily launched a sustainable premium Nylon fiber enhanced with special technology, Sensil® BioCare, which helps reduce the persistence of textile waste in landfills and seawater. Sensil® BioCare is the latest add-on to the broad Sensil® portfolio of conscientiously produced, environmentally considerate premium Nylon products, which advantages the whole textile supply chain. NILIT has introduced these products to aid the apparel and textile industry focus on its specific environmental challenges, such as recycled content, ecosystem impact, and apparel water consumption, and answering consumer demand for more responsible textiles.
|Market Size||2030: Significant Value|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Evonik Industries AG (Germany), BASF SE (Germany), Solvay (Belgium), Radici Partecipazioni SpA (Italy), Shenma Industrial Co., Ltd. (China), Ascend Performance Materials (US), INVISTA (US), Asahi Kasei Corporation (Japan), DuPont de Nemours, Inc. (US), EMS-CHEMIE HOLDING AG (Switzerland), Shakespeare Company, LLC. (US), and LIBOLON (Taiwan)|
|Key Market Opportunities||On account of their high chemical resistance, the increasing use of nylon fibers as filter media in various industrial applications is further augmenting the market growth.|
|Key Market Drivers||Increased demand for nylon fibers in the manufacturing of textiles such as clothes, ropes, awnings, and others.|
The nylon fiber market is predicted to grow at a 4.20% CAGR between 2022-2030
The APAC region is predicted to dominate the nylon fiber market.
Key competitors in the nylon fiber market include LIBOLON (Taiwan), Shakespeare Company, LLC. (US), EMS-CHEMIE HOLDING AG (Switzerland), DuPont de Nemours, Inc. (US), Asahi Kasei Corporation (Japan), INVISTA (US), Ascend Performance Materials (US), Shenma Industrial Co., Ltd. (China), Radici Partecipazioni SpA (Italy), Solvay (Belgium), BASF SE (Germany), and Evonik Industries AG (Germany).
Increasing use in the manufacturing of awnings, ropes, and clothes, and growing demand in consumer goods production will boost market growth.
Growing environmental concerns may restrict market growth.