The global glass filled nylon market is forecast to reach USD 11.72 Billion by 2026, according to a new report by Reports and Data. Glass filled nylon is made by adding powdered glass to the nylon resin or by extruding the plastic with glass fibers. Glass filled nylon is known for its high hardness, high tensile strength and low shrinkage at higher temperatures properties. These properties of the glass filled nylon are increasing their usage in the manufacture of parts used in various industries such as automotive and aerospace industries.
The market for glass filled nylon is influenced by the rising demand from the automotive industry. Automotive industries prefer glass filled nylon because it is an ideal solution for weight reduction. They are used in application such as parts inside the engine compartment, engine covers, and under the bonnet of cars.
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These factors mentioned above collectively create opportunities for the market growth while factors such as shortage of polyamide 66 pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period.
The Asia Pacific region has a significant market share during the forecast period due to the booming industrial sectors. The rising construction activities and flourishing electronics and electrical industries in the region are driving the market growth. China and India have the largest consumer of glass filled nylon in the Asia Pacific region.
Further key findings from the report suggest
- Polyamide 6 held a market share of 62.1% in the year 2018. The high demand is due to its easy availability and low cost, and it possesses properties such as high mechanical strength, good tensile strength, and chemical resistance.
- The injection molding process for glass filled nylon market accounted for a higher share as well as a higher CAGR of 7.0% during the forecast period. This process is highly used in the manufacturing of technical components in the automotive industry.
- The market for “30% glass filled nylon” is estimated to register the highest CAGR of 7.8% during the forecast period. This type of glass filling is made by adding polyamide resin and glass fiber. It provides high rigidity and strength.
- The automotive industry is expected to be the largest end-use industry of glass nylon with a market share of 61.1% in the year 2018. These are a cheaper solution in comparison to metals.
- The Asia Pacific region held the largest market share of 49.5% in the year 2018. The booming industrialization and promotion of electric vehicles, especially in China and India, are propelling the market growth in the region.
- Key participants BASF SE, Royal DSM N.V., Evonik Industries, Fukuang Plastic, Nylatech, Akro-Plastic GmbH, Arkema, Ascend, Asahi Kasei Corporation, and Radici Group, among others.
For the purpose of this report, Reports and Data have segmented into the global Glass Filled Nylon market on the basis of type, manufacturing process, glass filling, application, and region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Polyamide 6
- Polyamide 12
- Polyamide 66
Manufacturing Process Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Injection Molding
- Extrusion Molding
Glass Filling Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- >30% glass filled
- 30% glass filled
- 20% glass filled
- 10% glass filled
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Electrical & Electronics
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- North America
- Asia Pacific
- Latin America
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/glass-filled-nylon-market
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