According to Publisher’s latest study, the global Nylon resin market size was valued at US$ 22630 million in 2023. With the growing demand in the downstream market, Nylon Resins are forecast to a readjusted size of US$ 30930 million by 2030 with a CAGR of 4.6% during the review period. Market Overview
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Download SampleThe research report highlights the growth potential of the global Nylon resin market. Nylon Resins are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Nylon Resins. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Nylon resin market. Nylon resin, also known as polyamide resin, is a type of engineering thermoplastic synthesized from adiponitrile, hexamethylene diamine, adipic acid etc. They can be melting processed into fibres, films or shapes. To produce a variety of products for industrial use, such as automotive engine covers/housings, cable insulation and jacketing, electrical and electronic plastics, electrical encapsulation materials, electrical insulation polymers etc. Key Features:
The report on the Nylon resin market reflects various aspects and provides valuable insights into the industry. Market Drivers: Automotive Uses. The rising demand for nylon in automotive applications is one of the main reasons propelling the nylon market's expansion. When it comes to decreasing automobile components and improving the environmental sustainability of car parts, nylon composites are quite helpful. Utilization in Engine Parts- The market is growing more quickly because engine components such as timing belts, oil containers, cylinder head covers, bushings, bearings, wire harness connectors, and fuse boxes are used so frequently. Furthermore, the market for silica aerogel is positively impacted by the rise in investments, the growth of the oil and gas sector, and developments in the chemical industry.
Growth in the Adoption of Nylon 6 Products. The market is further influenced by the rise in demand for nylon 6 products as an affordable alternative to materials like bronze, brass, plastics, rubbers, steel, brass, and aluminium. Challenges- Competition from Alternative Materials: Thermoplastics, composites, and bio-based polymers are some of the alternatives that nylon resins must contend with. To keep their market share, manufacturers need to set their products apart through sustainability, cost-effectiveness, and performance. Price Volatility of Raw Materials: The cost of producing nylon resin can be affected by changes in the price of raw materials, especially petrochemical feedstocks. To lessen price volatility, manufacturers must control supply chain risks and look for alternate sources of feedstock. Reclamation and End-of-Life Management: Although nylon resins can be recycled, there are still issues with end-of-life care and recycling infrastructure. To reduce environmental effects and advance the concepts of the circular economy, it is imperative to enhance the procedures for collecting, sorting, and recycling materials based on nylon. Market Forecasts and Future Outlook: Focus on Sustainable Solutions: In the nylon resins market, there is a rising emphasis on sustainable production techniques, renewable feedstocks, and recyclable materials as environmental concerns and regulatory demands increase. To lower their carbon footprint and lessen their product's environmental impact over its whole lifecycle, businesses are investing in bio-based nylon resins made from renewable resources like castor oil, biomass, and recycled plastics. Progress in Engineering Polymers: In demanding applications requiring high strength, chemical resistance, and dimensional stability, nylon resins are gradually replacing classic engineering plastics like ABS, PC (polycarbonate), and POM (polyoxymethylene). The production of speciality grades with qualities customized to particular end-use requirements is made possible by advancements in nylon formulas, compounding techniques, and additive technologies. This creates value and drives market differentiation. Opportunities: Innovation in Sustainable Solutions: Manufacturers have the chance to develop novel formulations of sustainable nylon resins in response to the increased demand for environmentally friendly materials. The growing market demand for eco-friendly materials can be met by funding the development of bio-based nylon resins made from renewable resources. Growth in Emerging Markets: Untapped potential exists for market expansion in emerging markets with rapidly expanding automotive, electronics, and packaging sectors. Developing strategic alliances and broadening distribution networks in areas like Africa, Asia-Pacific, and Latin America might aid in gaining a bigger market share and accelerating revenue development. Recent developments- Asahi Kasei Corporation and Microwave Chemical jointly initiated a demonstration project in April 2023 to commercialize a microwave-based chemical recycling method for polyamide 66. It is anticipated that the process, which uses microwaves to depolymerize PA66, will produce the monomers adipic acid (ADA) and hexamethylenediamine (HMD) with a high yield and minimal energy usage. New PA66 can then be produced using the obtained monomers. In Europe, BASF SE began selling several polyamide (PA) and polyphthalamide (PPA) grades in February 2022. These engineering plastic products were purchased by the corporation as part of the acquisition of Solvay's PA66 division. These goods will be introduced under the well-known Ultramid brand. Market Segmentation: The Nylon Resins market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. In terms of product, Nylon 6 is the largest segment, with a share of about 65%. In terms of application, the largest application is Fibres, followed by Engineering Plastics, and Packaging Films. 1. Segmentation by type • Nylon 6 • Nylon 66 • Nylon 11 • Nylon 12 • Nylon 610 • Nylon 6T • Nylon 6I • Nylon 9T • Nylon M5T • Nylon 6/66 2. Segmentation by application • Fibres • Engineering Plastics • Packaging Films • Other Regional Insights: The nylon market was controlled by Asia Pacific. In this region, one of the main drivers of growth is the availability of inexpensive labour and raw resources combined with rising purchasing power. Global producers of nylon are being drawn to establish production and distribution centres in the region by the prospect of a sizable unexplored market and the encouragement of government initiatives. Manufacturers of electronics and electrical components are starting to pay more attention to nylon because plastic components are easier to connect with other components and are more compact, which streamlines the design process. It helps producers to create more intelligent MCBs with thinner walls. Product demand is mostly being driven by growing concerns about the size and carbon footprint of electrical gadgets. The majority of Asia Pacific nations are seeing a decline in the unit price of nylon as the market expands to include new competitors and consumers. In contrast, mainstream trademarks are losing market dominance in affordable and mid-range product classes because of shifting customer tastes. In developed economies like South Korea and Japan, however, a premium approach to products and prices is emerging as a new trend. America's nylon industry is mostly propelled by advancements in the car, aerospace, and important manufacturing sectors. The automotive, aerospace, defence, electrical & electronics, and other industries are using engineering plastics more often, which is driving up the need for nylon (PA) in the United States. Companies that deal with end-use in Canada are thinking about expanding their product line to include sustainable items and partnering with producers of nylon derived from biofuels to increase market share. China is the largest market, with a share of about 30%, followed by Europe and North America, having a total share of about 35 per cent. 1. Americas • United States • Canada • Mexico • Brazil 2. APAC • China • Japan • Korea • Southeast Asia • India • Australia 3. Europe • Germany • France • UK • Italy • Russia 4. Middle East & Africa • Egypt • South Africa • Israel • Turkey • GCC Countries Competitive Landscape: Global Nylon resin key players include Invista, Basf, DSM, Ascend, Rhodia, etc. Global top five players hold a share of about 35%. The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, and market penetration. • Invista • Basf • DSM • Ascend • Rhodia • DuPont • FCFC • Libolon • UBE Ind • Zigsheng • Honeywell • Hyosung • Lanxess • EMS • Domo Chem • Shaw Industries • Chainlon • Toray • Radici Group • Khimvolokno • Arkema • Asahi Kasei • KuibyshevAzot • Shenma Group • Meida Nylon • Jinjiang Tech • Liheng Tech • Changan Gaofenzi • Baling Shihua • JUNMA TYRE CORD
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