Nylon Market
Nylon Market is projected to be worth USD 55.35 Billion by 2030, registering a CAGR of 9% during the forecast period (2021 - 2030)
$55.35 Billion
Market Size
9%
CAGR
North American
Dominating Region
2021 - 2030
Forecast Period
Segmentation
Key Players
- Saudi Basic Industries Corp.
- Formosa Plastics Corp.
- Solvay SA
- Quadrant AG
- Lanxess AG
- Invista S.A.R.L. (Koch Industries
- Inc.)
- UBE Industries Limited
- I. Dupont De Nemours & Company
- Evonik Industries AG
- Asahi Kasei Corporation
- Honeywell International
- Inc.
- BASF SE
Drivers
- Asia pacific has dominated the market for Nylon with the largest market share
Nylon Market Overview
Nylon Market is projected to be worth USD 55.35 Billion by 2030, registering a CAGR of 9% during the forecast period (2021 - 2030).During the pre-pandemic historic period for the market that ended in 2019, the market registered its global operations worth USD 29.76 billion.
During the ongoing forecast period of 2021-2030, the Nylon Market operations are expecting exceedingly good growth amongst its prominent players across the globe. 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 2021-2030, 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.
Market Dynamics
Drivers
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.
Restraints
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.
Technology Analysis
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.
Study Objectives
- To study the market scope and project a standard growth rate for the market and the value of the market operations during the forecast period ending in 2027 based on the viewpoints laid by the market players and industry experts and leaders
- To study the revenue potential possessed by the overall market and its bifurcations in the form of segments that are functional in major global regions to produce and supply as per the demands of the target audience
- To draw a competitive graph amongst the functional players of the market and their role in collecting revenue that will help the market grow and reach the expected figures. Also, the report aims to discuss the recent developments undertaken between 2021 and 2027.
Market Segmentation
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.
Regional Analysis
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.
Competitive Landscape
The Most Prominent Major Key Players all across the globe in the Nylon Market are mentioned below:
- Saudi Basic Industries Corp.
- Formosa Plastics Corp.
- Solvay SA
- Quadrant AG
- Lanxess AG
- Invista S.A.R.L. (Koch Industries, Inc.)
- UBE Industries Limited
- I. Dupont De Nemours & Company
- Evonik Industries AG
- Asahi Kasei Corporation
- Honeywell International, Inc.
- BASF SE
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.
Recent Developments
June 2021-Ascend Performance Materials has set up a new production unit for its HiDura PA610 & 612 long-chain nylons, which was first introduced in November 2020. As the biggest full-integrated developer of nylon 66, the company has used its exhaustive knowledge of polymerization to bolster the capacity at its unit in Greenwood,S.C. The company has kept track of the mounting demand for nylon from different sectors, including industrial, consumer goods, automotive, electric vehicle, and renewable energy.
August 2021-INVISTA Nylon Chemicals Co. (China) is planning to almost double its production capacity of nylon 6,6 polymer at the Shanghai Chemical Industry Park (SCIP). Post the 40,000-ton/year capacity surge in 2020, this higher production rate, backed by funding of USD 230 million should double the manufacturing capacity to 400,000 tons/year. It will also bolster the company’s integrated nylon 6,6 value chain across the country.
Furthermore, the higher capacity should allow INVISTA to cater to the soaring demand from electrical and electronics, automotive, and other sectors.
In August 2019, an agreement was made between the manufacturers of speciality materials and chemicals called BASF SE and Solvay with a manufacturer of polymers called Domo Chemicals worth USD 1.78 billion.
In August 2020, yarn made of INVISTA’s recycled nylon 6,6 polymer has been introduced by a Spanish manufacturer of nylon yarns called Nylstar with a Global Recycled Standard Certification. This was done to improve the high quality and retain its quality on par with its other yarns.
UBE Industries AG is spending a huge sum of money on research and development to get an upper edge over its competitors. This will help the company in increasing its sales revenue.
All the major key players are highly investing in mergers and acquisitions, joint ventures, and new product launches.
In June 2020, Invista announced that it had started the construction of a plant in Shanghai that will boost its nylon production by adding 400,000 tons per year. The company declared that it had already invested more than USD1 billion for the adiponitrile (ADN) plant at the Shanghai Chemical Industry Park (SCIP) that will help the company in meeting the rising demand for the product.
In June 2020, as a countermeasure to curb the COVID-19 risks, the government made a decision to stop the export of medical masks, but it will allow the export of masks made of rayons and nylons. It has also liberalized the process to make sure that exporters gain substantially from their base market.
In June 2020, Oliver Healthcare Packaging announced that they had developed a new pouch consisting of new LF-1050N 40ga nylon and Tyvek 1073B. This could serve as an alternative for pouches made of thicker-gauge nylons or make with PET/PE.
Report Overview
This Nylon Market Research Report consists of the following elements mentioned below:
- Market Overview
- COVID 19 Analysis
- Market Dynamics
- Technical Analysis
- Market Segmentation
- Regional Analysis
- Competitive Landscape
- Recent Developments
This market research report contains factors that drive the growth of the Nylon Market in the global market along with the factors that restrict its growth in the global market. The technical analysis during the forecasted period is mentioned. The impact of COVID 19 on the Nylon Market all across the globe is mentioned. The future growth rate in the Nylon Market during the forecasted period is estimated and mentioned.
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2027: USD 43.89 Billion |
| CAGR | 5.8% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019Â &Â 2020 |
| 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 |
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| Key Market Drivers |
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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.
What is the anticipated market share value in the global market by the end of 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.
