Top Companies in Nylon Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Nylon Market is projected to reach a value of USD 27.8 Billion by 2028 at a CAGR of 3.9% over the forecast period.
The Global Nylon Market is valued at USD 22.1 Billion in 2021 and is projected to reach a value of USD 27.8 Billion by 2028 at a CAGR of 3.9% over the forecast period. The market for Nylon films is primarily driven by the rise in demand for materials for packaging food goods for microwaving. Demand for packaged food items is also driven by an increase in peoples' disposable money. Nylon film sales are increasing as a result. The fast urbanization in developing nations is anticipated to propel the Nylon films market during the projected period, leading to an increase in demand in end-use sectors such as personal care, pharmaceuticals, and domestic care. Furthermore, important firms have moved their production locations to China, India, and Indonesia due to the availability of labor, advantageous laws, and supportive government measures to give attractive FDI rules, which have increased the market growth potential.
One of the key factors fueling the growth of the Nylon Market is the rise in demand for Nylon from automotive applications. The environmental sustainability of automobile parts and aging automotive components can both be greatly improved by Nylon composites. Additionally, the market for silica aerogel benefits from an increase in investments, the growth of the oil and gas sector, and developments in the chemical sector.
Additionally, improvements to the product open up lucrative potential for market participants. The market will grow even more due to research and development efforts to improve the product. However, it is anticipated that the market would be restricted by introducing environmentally friendly or biodegradable alternatives. During the projection period, variations in the price and supply of raw materials are expected to provide difficulties for the Nylon Market.
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Amidst Exponential Growth in Nylons Adoption, What Trends Should We Look Forward to?
- Increased demand for Nylon from automotive applications is one of the important trends for market growth as the automotive industry is highly consolidated. Even though many market participants have increased the product variety, top players control about 49% of the market.
- Nylon's adaptability and robustness can be used to 3D print objects with thin walls. It has a high melting point and a low coefficient of friction, making it particularly abrasion-resistant. As a result, it can be utilized to print components such as working interlocking gears. Technological developments in 3D printing are projected to increase the use of Nylon in commercial 3D printing processes, which will fuel market expansion.
- The widespread use of engine parts such as bearings, wire harness connections, timing belts, bushings, cylinder head covers, and fuse boxes, among others, helps drive the market's expansion.
- Polyester ropes, preferred for offshore oil and gas platform station keeping, may occasionally be unsuitable for wind turbine moorings because they are too stiff. On the other hand, Nylon may be a suitable substitute, resulting in the rise of the Nylon Market.
The Nylon Market is dominated by globally established players such as BASF SE (Germany), LANXESS AG (Germany), Huntsman International LLC (US), AdvanSix Inc. (US), Ube Corporation (Japan), INVISTA (US), Domo Chemicals (Belgian), Toray Industries Inc. (Japan), Ashley Polymers Inc., Ascend Performance Materials LLC (US), Toyobo Co. Ltd. (Japan), and Goodfellow Group(Canada). These companies have developed new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth Nylon Market.
Let's Look at the Top 5 Companies That are Taking the Nylon Market by Storm
The Nylon Market is expected to grow from USD 22.1 billion in 2021 to USD 27.8 billion in 2028, owing to rising consumer demand and consumers' preference for lightweight automobiles, which have lower maintenance and fuel costs. Additionally, the market is expanding due to rising product demand from engineering plastics, textiles, electrical, and electronics applications.
- BASF SE (Germany)
One of the top producers of Nylon Intermediates and Nylon is BASF. The only business in the world that sells Polyamide 6 and Nylon 66 finished products and their raw materials is BASF. The Ultramid® grades from BASF are molding compounds based on Nylon6, Nylon66, and several products.
- LANXESS AG(Germany)
LANXESS' prime focus is developing, manufacturing, and commercializing chemical intermediates, additives, specialty chemicals, and consumer protection products. Durethan, a LANXESS product, is a thermoplastics family based on Nylon 6 and 66.
- INVISTA (US)
INVISTA has more than 45 years of experience developing Nylon resins in goods spanning the automotive, oil and gas, and consumer electronics industries as a global leader in producing Nylon intermediates and polymers. INVISTA manufactures the key elements that make it all possible, from the tough, durable Nylon pipes required to transport hydrocarbons to the strong, flexible fibers found in everything from backpacks to airbags.
- Domo Chemicals(Belgian)
NYLEO® is the new brand name for DOMO's Performance Fibers product range, combining a compelling blend of well-established performance fibers and ground-breaking new solutions. NYLEO®, based on polyamide 66, is utilized in various applications in the textile, flooring, flock, and surface treatment markets. NYLEO® combines a long history in the polyamide 66-based fiber market with a fresh emphasis on innovation.
- Toray Industries Inc.(Japan)
Toray was the first to mass-produce Nylon, the world's first synthetic material, in Japan in 1951. Nylon has several advantages, including high tensile strength, abrasion resistance, and chemical resistance, as well as superior color development qualities. Toray controls the majority of the Japanese Nylon Market.
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