During the ongoing forecast period of 2021-2027, the Nylon Market operations are expecting exceedingly good growth amongst its prominent players across the globe. During the market period, the size of the market operations is likely to expand and hence, help the market reach a final valuation worth USD 43.89 billion by the end of the forecast period in 2027. During the same period, the compound annual growth rate (CAGR) of the market stands at 5.8%. During the pre-pandemic historic period for the market that ended in 2019, the market registered its global operations worth USD 29.76 billion. The report has been prepared with the pandemic year of 2020 as the base year.
Nylon has an important role to play as an ingredient in a huge number of engineering products like bearing, oil containers, fuse boxes, bushings, amongst others like cylinder head covers, wire harness connectors, timing belts, and crankcases. Also, the global and regional players across the globe are largely identifying the need for the development of the automotive industry on a large scale during the ongoing forecast period of 2021-2027, and thus, offer the Nylon Market excellent growth prospects.
COVID 19 Analysis
The pandemic is presenting a different kind of struggle for different markets and businesses. The restrictions and social distancing norms are impacting the Nylon Market Growth.
However, favourable government regulations are pushing the major market players to shift their production and manufacturing units to vibrant parts of the APAC region like the Indian subcontinent, and others like China, and Indonesia. Also, the market players are increasing their investment in the research and development sector that promises a good future for the market. The Nylon Market players are producing products and launching them on an international scale to generate wide customer demand.
The Nylon Market Size is expecting to expand during the forecast period of 2021-2027. One of the main reasons that will lead the market operations towards global growth is that the demand for nylon in automobile applications is rising amid the pandemic. Thus, market propelling is expected. Also, the availability of nylon to be used in a variety of things and market departments will help the market products follow a huge demand.
However, the lack of technology and equipment to make optimal use of nylon for production in automobiles and the automotive sector is one factor that will restrain the Nylon Market from opting for growth from 2021 to 2027. To avail, the technology, rising support in the form of investments is a sturdy idea. But the under-developed economies and developing countries still have a long way to go and present tough competition in the international market for the global forecast period that ends in 2027.
The automobile industry is undergoing huge growth in the APAC region and its connection with nylon is boosting the market’s operations in the region. There is large-scale infrastructural development on the way and improvisation related to the socio-economic trends are leading the Nylon Market operations towards expansion. Also, the workforce is available in these regions in abundance which is emerging as a major asset for the market’s productivity and ability to meet the needs of a larger target audience. Also, 49% of the total market is being dominated by major automotive companies like Ford and Volkswagen.
The Nylon Market has been divided all across the globe based on Type, Application, and Region.
Based on the Type
The Nylon Market has been divided all across the globe based on the type into nylon 12, nylon 6, nylon 4,6, nylon 6,12, nylon 6,6, and others.
Based on the Application
The Nylon Market has been divided all across the globe based on the application into household appliances market, military supply, tire industry, textile industry, and others.
Based on the Region
The Nylon Market has been divided in the global market based on the region into North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region.
The Nylon Market has been divided all across the globe based on the region into North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region. Being the fastest-growing region, the largest market share in the Nylon Market all across the globe is held by the Asia-Pacific region owing to the presence of various highly populous countries like China and India that drives the market demand in this region. Moreover, the presence of major key players also drives the market share in this region.
The second-largest market share all across the globe is held by the North American region owing to the presence of the most prominent major key players which leads to increased market share. Ongoing research and development activities in these regions are expected to create more growth opportunities during the review period.
The third-largest market share all across the globe is held by the European region owing to the presence of well-established technologically advanced infrastructure that drives the market demand in this region. High disposable income prevailing in this region also increases the market demand in this region.
The Latin American region and the Middle East and African region hold the least market share due to the presence of low infrastructure in both these regions. Low per capita disposable income is another contributing factor that restricts the market growth in these regions.
The Most Prominent Major Key Players all across the globe in the Nylon Market are mentioned below:
These major key players use various strategies to sustain their market position in the Nylon Market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a new production process, and many others to expand their customer base in the untapped market of the Nylon all across the globe.
This Nylon Market Research Report consists of the following elements mentioned below:
|Market Size||2027: USD 43.89 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by type, by application,|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||BASF SE, Honeywell International, Inc., Asahi Kasei Corporation, Evonik Industries AG , E.I. Dupont De Nemours & Company, ,UBE Industries Limited ,Invista S.A.R.L. (Koch Industries, Inc.) , Lanxess AG , Quadrant AG, Formosa Plastics Corp., Solvay SA , Saudi Basic Industries Corp, Huntsman Corporation and Arkema SA.,Royal DSM NV|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The Nylon Market is expected to grow at a higher CAGR of 5.8% in the global market during the forecasted period.
The Nylon Market is expected to account for a higher market share value of USD 43.89 billion by the end of the forecasted period.
By type, the global nylon market is segmented into nylon 6,6, nylon 6,12, nylon 4,6, nylon 6, and nylon 12.
The major application segments of the nylon market include textiles, tires, military supply, and household appliances.
The textiles industry is likely to hold the largest share in the global nylon market over the forecast period.
Asia Pacific dominates the global nylon market, followed by North America and Europe.
Leading players in the nylon market include BASF, Asahi Kasei Corporation, UBE Industries Limited, Lanxess, Solvay SA, Huntsman Corporation, and SABIC.