Nylon Market (By Type: Nylon 66, Nylon 6; By Application: Electrical & Electronics, Automobile, Textile, Engineering Plastics, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027

The global nylon (PP) market is anticipated to grow at a CAGR of around 6% in terms of revenue during the forecast period 2020 to 2027 and to reach the market value of around US$ 35 Bn by 2027.

Nylon is commonly referred to as polyamides as a class of synthetic polymers. The main polyamides Nylon 6 and 66 constitute more than 90 percent of the polyamide. The company allows the use of both nylon 6 & 66 in resin and fibre. Nylon was the first manufacturing material to be invented and forms an important portion of the world's plastics industry in electronics. Nylon fiber is used mainly in injection moulding and extrusion applications in the garment industry and nylon resins. Nylon 6 forms of caprolactam polymerisation, while nylon 66 produces hexamethylenediamine and adipic acid polycondensation. Adiponitrilium is a major feedstock for hexamethylenediamine in the production of nylon 66. For the manufacture of nylon 66 more than 90% of the adiponitrile produced annually is used.

The report provides analysis of global Nylon market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

Market Dynamics

The accelerated nylon usage in the automotive industry is major driving factor of the market. The material is used in the manufacture of different parts to reduce automotive weight and emissions. Since of its high elasticity, high tensile strength, and tremendous abrasion resistance, Nylon 6 and 66 slowly replace metal sections on vehicles. The growth of the retail economy is projected to accelerate these causes. The rising demand for nylon 6 is expected to drive market growth in plastics electronics, electrical and electronic, as well as in many niche applications. The auto market actually accounts for the bulk of demand for nylon 66. This is still, though, interesting for the fashion and plastics manufacturing industries. Over the coming years, this trend will have a favorable effect on business development.

Regional Stance

Asia Pacific held major market share in 2019 and anticipated to govern the market during the projected time span due to the growing demand for automotive and films and coating applications in the packaging industry. The region's demand is driven primarily by developing economies like China and India in the region. China accounts for over half of the region's overall nylon consumption and output. In addition, major manufacturers in China have ability to satisfy rising demand in the country and region to decrease their reliance on nylon 66 and adiponitrile imports.

North America held considerable market share in 2019. The automotive industry is pushing the regional trend in the nylon market. It is expected that the ban of single-use plastics would raise the market for nylon films in the US.

Report coverage

The market research study on “Nylon Market (Nylon Market By Type: Nylon 66, Nylon 6; Nylon Market By Application: Electrical & Electronics, Automobile, Textile, Engineering Plastics, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Nylon market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Nylon market size, and segment markets by type, application, and geography along with the information on companies operating in the market. The Nylon market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global Nylon market is segmented as below:

Market Segmentation

Nylon Market By Type

• Nylon 66
• Nylon 6

Nylon Market By Application

• Electrical & Electronics
• Automobile
• Textile
• Engineering Plastics
• Others

Nylon Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

Key Players and Market Situation

Participants include major global players such Honeywell International, Inc., BASF SE,  Huntsman Corporation, Evonik Industries AG , E.I. Dupont De Nemours & Company, Asahi Kasei Corporation, UBE Industries Limited ,Invista S.A.R.L., Others.

The global competition is projected to stay intense in the next few years as key players demand advanced goods at reasonable costs for raw materials. With a healthy product line, businesses spend heavily in R&D.