Nylon Market Overview
Nylon is a versatile synthetic polymer. It consists of a very long polymer chain with small endlessly repeating segments of atoms that are moulded to produce fibres and fabrics. Nylon is also referred as ‘polyamides’ and is used in everyday products such as containers, ropes, and textile among others. They exhibit superior strength, durability, solubility in organic solvents and acids, chemical and fungi resistance. They are produced from organic chemicals found in petroleum and coal.
The global nylon market has been bifurcated on the basis of type and application. Based on type, the global nylon market has been segmented into Nylon 6,6; Nylon 6,12; Nylon 4,6; Nylon 6; Nylon 12. Under these segments, Nylon 6 accounted for the largest market share in 2017 and is expected to continue this trend during the forecast period owing to the surging demand for the product in textile and automotive industry. Nylon 6,6 is projected to register a high CAGR in the coming years owing to its increasing demand for heat-resistant and environment-friendly in automotive, consumer goods, packaging, electronics, and industrial yarns.
Global Players Analyzed in the Research are:-
BASF SE (Germany), Honeywell International, Inc. (US), Asahi Kasei Corporation (Japan), Evonik Industries AG (Germany), DowDuPont, Inc. (US), UBE Industries Limited (Japan), Koch Industries, Inc. (US), Lanxess AG (Germany), Quadrant AG (Switzerland), Formosa Plastics Corp. (US), Solvay (Belgium), SABIC (Saudi Arabia), Huntsman International LLC (US), and Arkema Group (France), and Royal DSM (The Netherlands) are some of the operating market players in the global nylon market.
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Market- Competitive Landscape:-
The global nylon agent market is a lucrative market and is expected to grow at a remarkable CAGR during the forecast period. Strategies such as mergers, acquisitions, expansion, joint ventures or partnerships, and product launch are implemented by market players. To meet the regulations set by various bodies of respective regions, manufacturer signs an agreement with the raw material supplier to sustain profit across the value chain. In highly competitive market, companies are investing more in research and development facilities and brand building thereby, building strong relationship with the customer and end-users. On the other hand, major players are carrying out innovation to improve the properties of nylon agent.
Industry/ Innovation/ Related News:-
September 12, 2018- Invista, the US based chemical company planned to expand production capacity of nylon 6,6 at its overseas polymer plant Shanghai Chemical Industry Park (SCIP). The company aimed to add the 40,000 tons of nylon 6,6.
October 11, 2017– BASF SE, the Germany based chemical giant, has developed new semi-transparent nylon product called Ultramid Vision. It is a semi-crystalline nylon featuring very high light transmission and low light scattering properties. According to BASF, the new material is suited for use in visual check components such as fluid level indicators as well as applications in illumination and light fixtures. It combines the good mechanical properties and process ability of nylon 6 at an attractive price.
September 19, 2017- Germany based chemical giant BASF SE acquired Solvay polyamide business with a deal of USD 1.9 billion. This will integrate the performance materials and monomers division of BASF SE.
July 12, 2017- Arkema SA, a France based specialty chemicals company has recently announced its plan to invest around USD 327.80 million for expansion of its bio sourced nylon 11 production in Asia. With an establishment of this new plant, the company would increase the global production of bio sourced nylon 11 by 50%. The new plant, which will produce both the amino 11 monomer and its polymer, is expected to come on stream in late 2021.
April 26, 2017- German specialty chemical company Lanxess AG announce an investment of USD 27.2 million in improving efficiency of its integrated production complex for nylon and precursors for plastics in Antwerp, Belgium. The Antwerp plant currently has a capacity of 220,000 metric tons per year of caprolactam. Caprolactam is a key precursor for the production of Lanxess’ plastics.
June 22, 2016– China based Cathay Industrial Biotech Ltd has announced its plans to construct a brand new facility in Xinjiang to manufacture bio-based nylon. The company has also signed an agreement to expand its capacity for bio-based intermediates for use in the textile and engineered composite sectors. This technology reduces both dependence upon oil and environmental impact in the production of polyamides and has been ear-marked for rapid development by many governmental and technology associations
The global Nylon market has been analyzed with respect to the five key regions, —Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. The Asia-Pacific market accounted for the largest market share in 2017 and is projected to grow at a robust CAGR during the forecast period owing to growing automotive, textile, and construction industries. Nylon finds widespread applications in automotive interior and exterior components, fabrics, yarns, among others which propels the regional market growth. China is the leading country in the region followed by India, Japan, Taiwan, and South Korea. The North America and Europe market accounted for a substantial market share in 2017 and is projected to grow at a moderate CAGR in the following years owing to saturated economic development.
There is growing demand for the product largely in automotive industry. US is the leading country in North America region. Germany dominated the nylon market in Europe owing to the presence of leading manufacturing companies in the region such as BASF SE and Evonik Industries AG. France, Switzerland, and Belgium are the other regions contributing to the regional market growth.
The Latin American market accounted for a substantial market share in 2017 and is projected to grow at a moderate CAGR in the coming years owing to growing economic developments in the region, and surging demand for the product in consumer goods. The Middle East & Africa market held a small market share in 2017 and is expected to register sluggish growth during the review period owing to limited demand for the product in the region.
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The report for Nylon of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions
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