Nylon Market – Overview
The global market for nylons is on an upswing due to increased demand levels and applications. Market Research Future, a firm which specializes in market reports related to the chemicals & materials sector among others, published in its recent report on Nylon Market Research Report – Forecast to 2027 that the market will expand with a vigorous CAGR % and is expected to achieve a good level of revenue in the forecast period. The growth curve observed for the sector is projected to continue upward on its positive growth path in the forecast period.
In line with current trends in the industry, the nylon market is increasing in market size due to the onslaught of demand and development of alternative supply sources. Due to nylon’s property of being strong and durable, there are a large range of applications that are being developed for the market. Nylon’s prominent use in the manufacture of tires, is set to increase following rise in demand for tires worldwide. Boom in the automotive sector due to increasing population and use of more than 1 car per household has also indirectly spurred growth of the nylon market. Renewed focus on streamlining the weight ratio of vehicles for reducing the level of fuel emissions will further facilitate the demand for nylon resins. Commonly used in various machine parts, carpet fibers, ropes and apparels, the nylon sector is finding increased demand due to the established applications, as well as new applications being developed.
Characteristics like high temperature resistance and good appearance have contributed to a great extent to the development of the market. Due to fluctuations in the prices of the raw materials, the nylon market has faced certain level of volatility. Nylon market demand is highly driven by its usage in FMCG products like toothbrushes and women stockings to name a few.
Applications in the electrical industry have also similarly boosted the growth trends in the nylon industry. Textile sector where nylon was discovered and used extensively still contributes a major share to the evolution of the nylon market. Due to increase in the level of standard of living, purchase of high end products like carpets have prompted increase in demand for nylon market, since nylons are used intensively in carpet making. Increasing cost levels of raw materials and production costs are expected to slow down the growth pace of the market.
The key players profiled in nylon market report include BASF SE, Honeywell International, Inc., Asahi Kasei Corporation, Evonik Industries AG, E.I. Dupont De Nemours & Company. Some of the other notable key players are 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. and Royal DSM NV.
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Latest Industry Updates:
Sep 2017 In a transaction involving Europe’s two biggest chemical makers, BASF has agreed to acquire Solvay’s global nylon business for $1.9 billion. The business is the world’s third-largest maker of nylon engineering plastics, with annual sales of $1.6 billion and pretax profits of about $240 million. It is predominantly involved in making nylon 6,6, a polymer with applications in automotive, electronics, and other markets.
Dec 2017 BioAmber has partnered with Genome, and the University of Toronto to develop a more environmentally-friendly nylon. Genome Canada, along with the Ontario Government, and other partners, are investing $5.7-million into the applied research project. Nylon is currently made from petroleum, and there’s strong demand for an alternative using sugar-based chemicals like the ones BioAmber will produce.
Nov 2017 Aquafil (Italy based), who produce polyamide (nylon 6), have recently announced the opening of its first carpet recycling facility in the United States. Aquafil Carpet Recycling will invest $10 million in a leased 116,890-square-foot building in Phoenix, AZ, to set up its technology to recycle nylon 6 waste from carpets back into raw material, further enhancing its pioneering Econyl Regeneration System.
June 2017 Kordsa Inc which operates in a portion of the North Access Road nylon fiber facility, has acquired the assets and operations of the plant from Invista in mid-May, Kordsa makes nylon used in tire cord fabric, ropes, belts and hoses. Invista sells raw material Kordsa uses in its production.
Nylon Market – Competitive Analysis
With the entry of new industry players in the global nylon market segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
Nylon Market – Segments
The market for nylon market is segmented on the basis of type, applications and region.
On The Basis Of Types: Nylon 6,6; Nylon 6,12; Nylon 4,6; Nylon 6 and Nylon 12
On The Basis Of Applications: Application Textile, Tire, Military Supply and Household Appliance
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Nylon Market – Regional Analysis
The global nylon market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Asia pacific has dominated the market for Nylon with the largest market share, accounting for a million dollar share and is expected to grow over a double digit million dollar figure by 2027, North-America and Europe are the growing market for Nylon and are expected to grow at competitive CAGR respectively from 2016 to 2027.
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