According to Acumen Research and Consulting, the global Nylon 6 & 66 market size is estimated to grow at CAGR above 6 % over the forecast time frame and reach the market value around USD 42.2 billion.
The growth of these products in the automobile industry is due to their accelerated use, with various components which promote lower vehicle weight and lower atmospheric emissions. In addition, nylon 6 and 66 gradually substitute metal components in automobiles because of its properties of high elasticity, high tensile strength, and excellent abrasion resistance. The growth of the world nylon market is expected to support these factors.
Increasing nylon 6 demand is mainly stimulating market growth in applications such as engineering plastics, electrical and electronics and various other niche applications. The majority of demand for nylon 66 currently derives from the manufacturer of engineering plastic but also shows a trend to absorb the textile and automobile industry.
But, because of their low competitive prices, the global Nylon 6 and 66 market is likely to be hindered by increasing threats of substitution of other products such as polypropylene, biopolymers, pararamides synthetic fibre, and polyvinyllidene fluoride. It has excellent characteristics in comparison to the higher density, lower optical density, high wear resistance, high UV resistance, harder surface and low elasticity of nylon P VF. PVF is non-reactive thermoplastic.
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Product Stance
PA 6's unique properties are an economic replacement for materials like stainless steel, brass, bronze, aluminum, gunmetal, plastics and rubbers. These attract manufacturers of electrical protection devices to use PA 6. The increasing scope of the product's application over the last few years has established its cost-effectiveness, utility and supporting economics. Excellent product surface finish makes it suitable for applications where aesthetics are important, even under strengthened conditions.
Moreover, due to their ability to provide high abrasion, better dimensional stabilité and increased impact strength, demand for nylon 6 filaments is increasing in the application of travel accessories. In addition, nylon is known to improve dirt, dust and wear resistance, making it easier to retain. Another important factor that could boost demand as baggage supplies is lightweight.
Automotive was estimated as the largest application segment in 2017
The automotive, electrical and electronics markets, plastics, textiles and others are segmented on the basis of applications. Automotive, followed by engineering plastics and textile, was estimated to be the largest application segment in 2017. The use of nylon composites increases the environmentally sustainable use of car parts and reduces the car component's weight
Composites are used for hydraulic clutch lines, headlamps, cooling systems, air intake manifolds and airbags. The roller covers, fuel caps, tail gate handles, doors, front grills and mirrors are also used in external parts. Nylon composites in the automotive industry are expected to drive demand due to such factors as excellent mechanical properties, wear strength and the growing need for light vehicles to enhance fuel efficiency.
Regional Outlook
The dominant regional segment in Asia-Pacific occupied 41.77% of its sales market in 2017. Over the forecast period, the region is expected to account for a significant share. Low cost raw materials and work in combination with increased expenditure strength are a major driver on the regional polyamide market. In this area, polyamide producers are attracted by the availability of enormity of untapped markets and supportive policies by the region.
BASF SE, INVESTA, are Likely to Continue to Lead the Global Nylon 6 & 66 Market
The Nylon 6 & 66 market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are BASF SE; AdvanSix Inc.; Lanxess AG; INVESTA; Huntsman Corporation; and DOMO Chemicals among others.
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