Nylon Market Worth USD 28.79 Billion at 6.0% CAGR by 2027; Backed by Increasing Demand from Packaging Industry in Asia-Pacific, Says Fortune Business Insights™

Asia

Top players covered in nylon market are DuPont, BASF SE, Lanxess AG, Nylon Corporation of America, Inc., Shenma Industrial, Ascend, Domo Chemicals, Radici Partecipazioni SpA, Invista, DSM, Formosa Group, etc

/EIN News/ — Pune, Sept. 24, 2020 (GLOBE NEWSWIRE) — The global nylon market size is expected to reach USD 28.79 billion by 2027 while exhibiting a CAGR of 6.0% between 2020 and 2027. This is attributable to the increasing focus on developing innovative products and the growing demand for nylon 66 in the packaging industry across the globe. Fortune Business Insights™, in its latest report, titled, “Nylon Market Size, Share & COVID-19 Impact Analysis, By Type (Nylon 6 {resin & fiber} Nylon 6,6 {resin & fiber}), By Application (Automotive, Electrical & Electronics, Appliances, Film & Coating, Wire & Cable, Consumer, Industrial & Machinery and others), and Regional Forecast, 2020-2027,” observes that the market stood at USD 24.26 billion in 2019 and is projected to experience significant growth in the forthcoming years.

COVID-19 Results in Temporary Shutdown of Production across Industries

To contain the spread of the novel coronavirus, the global government agencies have announced a lockdown that has led to the complete halt of operational and production activities. Owing to strict regulations to follow social distancing and avoid contact, several industries such as packaging, food & beverage, and automotive, among others are experiencing unprecedented economic loss that is anticipated to hinder the market growth to some extent. However, supportive initiatives by the government to work with minimal workforce and adhere to strict social distancing to resume partial operations are expected to positively impact the market growth in the near future.

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Nylon is a type of polymer that is produced by the reaction between carbon-based chemicals that are usually found in petroleum and coal under high pressure. It is widely adopted to manufacture plastic machine parts and electronics owing to its high tensile strength, non-conductivity, heat resistance, and low-cost properties. Additionally, it is used for manufacturing bolts, screws, nuts, and washers in the automotive industry across the globe.

List of the Companies Profiled in the Market:

  • DuPont (U.S.)
  • BASF SE (Germany)
  • Lanxess AG (Germany)
  • Nylon Corporation of America, Inc. (NYCOA) (U.S.)
  • Shenma Industrial (China)
  • Ascend (Thailand)
  • Domo Chemicals (Belgium)
  • Radici Partecipazioni SpA (Italy)
  • Invista (U.S.)
  • DSM (The Netherlands)
  • Formosa Group (Taiwan)
  • SINOPEC (China)
  • Ube Industries (Japan)
  • LIBOLON (Japan)
  • ZIG SHENG INDUSTRIAL CO., LTD. (Taiwan)
  • Other

What does the Report Include?

The global market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaborations that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.

DRIVING FACTORS

Increasing Adoption of Product from the Packaging Industry to Favor Growth

Polymeric products such as nylon 66 have excellent properties such as high elasticity that are extensively adopted across several industries. For instance, they are adopted as films and coatings in the packaging industry owing to their high tensile strength and toughness. The industrial applications include packaging of food and fluids such as oils, grease, and acidic food and they are in great demand across other industrial applications. Additionally, the increasing focus on developing advanced nylon products to cater to the increasing consumer demand is expected to bode well for the growth of the global nylon market in the forthcoming years.

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SEGMENTATION

Automotive Segment Held 39.0% Market Share in 2019

The automotive segment, based on application, held a market share of about 39.0% in 2019 and is expected to showcase an exponential growth owing to the increasing adoption of resin and fiber in the manufacturing of automobile tires globally.

REGIONAL INSIGHTS

Increasing Demand for Films & Coating in Asia-Pacific to Aid Growth

Among all the regions, the market in Asia-Pacific stood at USD 13.92 billion in 2019 and is expected to hold the highest position in the global market during the forecast period. This is attributable to the increasing demand for films and coating from the packaging industry in countries such as India and China in the region.

North America is anticipated to experience significant growth owing to the growing automotive industry and the increasing production of nylon 66 polymers by the manufacturers between 2020 and 2027.

COMPETITVE LANDSCAPE

Major Companies Focus on Product Expansion Facilities to Strengthen Their Market Positions

The global nylon market is fragmented by the presence of several major companies that are focusing on consolidating their positions by expanding their production facilities and cater to the increasing demand for the product across several industrial applications. The other key players are adopting strategies such as merger and acquisition, partnership, and collaboration to maintain their presence in the highly competitive global marketplace.

Industry Development

September 2018 – INVISTA, a leading manufacturer of polymeric materials, announced the expansion of its facility located at Shanghai Chemical Industry Park (SCIP), China. The company is expected to add 40 kilotons of nylon 66 to its production facility by 2020 to cater to the increasing consumer demand across Asia-Pacific region.

Browse Detailed Summary of Research Report With TOC:

https://www.fortunebusinessinsights.com/nylon-market-102007

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Overview of the Parent/Related Markets
    • Industry SWOT Analysis
    • Regulatory Analysis
    • Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
  • Qualitative Insights- Impact of COVID-19 on Market
    • Supply Chain Challenges
    • Steps Taken by Companies/ Association to counter the impact
    • Future Outlook
  • Global Nylon Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Type
      •  Nylon 6
        • Resin
        • Fibre
      •  Nylon 6,6
        • Resin
        • Fibre
    • Market Analysis, Insights and Forecast – By Application
      •  Automotive
      •  Electrical & Electronics
      •  Appliances

TOC Continued…!

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