The global nylon market size is expected to reach USD 47 billion by 2027, expanding at a revenue-based CAGR of 6.5% over the forecast period. Rising global automobile production is expected to drive the growth.
Automobile industry is a highly concentrated in nature. Despite the high product range owing to a large number of manufacturers, around 49% of the market is dominated by the top players such as GM, Toyota, Ford, and Volkswagen. Nylon 6 is used in engine components including wire harness connectors, bushings, bearing, fuse boxes, cylinder head covers, oil containers, and crankcases.
In the recent years, automobile industry has witnessed a robust growth, especially in Asia Pacific. Infrastructure development and improving socio-economic status are some of the major contributing factors for this growth. Favorable regulations, availability of workforce, and government initiatives to provide attractive Foreign Direct Investment (FDI) regulations have resulted in major players shifting their manufacturing bases to China, India, and Indonesia among other countries in the region.
Currently, raw materials account for over 45% of the overall manufacturing cost of vehicles. Steel and aluminum are the preferred raw materials in automobile industry. However, owing to the stringent regulations focusing on improving the fuel efficiency and maintaining CO2 emissions at manageable levels, raw material trends are expected to undergo a drastic change in near future. Nylon 6 finds descriptive use as films and coatings to prevent the raw materials from undergoing corrosion.
Nylon 66 demonstrates high dimensional stability coupled with excellent resistance to wear owing to its lower moisture absorption property. Electrical protection devices require high heat, water, and other electromechanical resistance to perform according to standards. Furthermore, it has a shorter and stronger bond, providing it a denser and tighter structure compared to nylon 6.
Further key findings from the report suggest:
Asia Pacific is anticipated to dominate the nylon market during the forecast period. China is the fastest growing country on account of the growing automotive industry.
Nylon 6 segment is potentially fueling the market growth owing to the low cost of the product.
Various strategic initiatives were recorded over the past few years in order to boost the growth of the nylon 6 & 66 Market. For instance, in August 2018, Ascend Performance Materials acquired Britannia Techno Polymer, an engineering plastics manufacturing company based in Netherlands. The acquisition helped establish the former's manufacturing base in Europe and expand its global compounding capacity.
Key Topics Covered
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary 2.1 Market Snapshot
Chapter 3 Nylon Market Variables, Trends and Scope 3.1 Market Lineage Outlook 3.1.1 Global Plastics Market 3.2 Pricing Trend Analysis (2019-2020) 3.2.1 Nylon 6 & 66 3.3 Penetration & Growth Prospect 3.4 Nylon - Value Chain Analysis 3.4.1 Raw Material Analysis 3.4.2 Manufacturing Trends 188.8.131.52 Nylon 6 184.108.40.206 Nylon 66 3.5 Technology Overview 3.6 Comparison between Nylon 6 & 66 3.7 Regulatory Framework 3.8 Nylon - Market Dynamics 3.8.1 Market Driver Analysis 3.8.2 Increase in Automobile Production 3.8.3 Market Restraint Analysis 220.127.116.11 Threat of Substitutes from Other Products 3.9 Business Environment Analysis: Nylon Market 3.9.1 Nylon - Porter's analysis 18.104.22.168 Threat of new entrants 22.214.171.124 Bargaining Power of Suppliers 126.96.36.199 Bargaining Power of Buyers 188.8.131.52 Competitive Rivalry 184.108.40.206 Threat of Substitutes 3.9.2 Nylon - PESTEL analysis 220.127.116.11 Political Landscape 18.104.22.168 Economic Landscape 22.214.171.124 Social Landscape 126.96.36.199 Technology Landscape 188.8.131.52 Environmental Landscape 184.108.40.206 Legal Landscape 3.9.3 Major Deals & Strategic Alliances Analysis
Chapter 6 Nylon Market: Regional Estimates & Trend Analysis 6.1 Nylon Market: Regional Movement Analysis, 2019 & 2027 6.2 North America 6.3 Europe 6.4 Asia-Pacific 6.5 Central & South America 6.6 Middle East & Africa
Chapter 7 Competitive Landscape 7.1 Key Global Players & Recent Developments & Their Impact on the Industry 7.2 Key Company/Competition Categorization 7.3 Competitive Dashboard 7.4 Vendor Landscape 7.4.1 List of Suppliers/Distributors 7.4.2 Key Potential Customers 7.5 Public Companies 7.5.1 Company Market Positioning 7.5.2 Geographical Presence 7.6 Private Companies