Nylon 66 Market
Nylon 66 Market (Grade - Fiber and Resin; Application - Textiles, Industrial, Carpets, Automotive, Electrical and Electronics, Consumer Goods and Appliances, Packaging, Films and Coatings, Others (Wires and Cables)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Press Release :
Nylon 66 is extensively used engineering thermoplastic materials which are highly adopted in automobile industry. Such materials exhibit superior mechanical properties such as high elasticity, excellent tensile strength, and resistance to abrasion. However, nylon 66 also poses higher temperature resistance property, which makes them to become a preferred material in various high-temperature applications. Such factors are driving the global nylon 66 market. Apart from the automotive industry, nylon 66 is also widely adopted in polyamide, textile, and electronics industry, owing to their outstanding electrical resistance, toughness, and good insulation properties. Such rapid consumption of nylon 66 in various industries also fueling the growth of the global nylon 66 market.
According to experts, the global nylon 66 market is expected to clock value US$6.0 bn by the end of 2026. The growth is prophesized to occur at a promising CAGR of 3.0% during the forecast period from 2018 to 2026. Nylon 66 is replacing the metal parts in automobiles and also helps in preventing damage which is caused by electrical circuits’ corrosion. The market is mainly segmented on the basis of application, grade, and region.
Fastest Adoption of Resin-grade Nylon 66 in Various Industries Fuel Market Growth
From the perspective of grade, the global nylon 66 market is bifurcated into resin grade and fiber grade. Among these two segments, resin grade nylon 66 is expected to showcase fantastic expansion in the next few years, especially during the mentioned forecast period – 2018 to 2026. This is mainly due to the rising electrical, electronics, and automobile industry worldwide. Resin grade nylon 66 is extensively used in manufacturing car interiors and airbags.
In terms of application, the global nylon 66 market is divided into following segments – Industrial, textile, automotive, consumer goods and appliances, electrical and electronics, packaging, films and coatings, carpets, and others (cables and wires, etc.). High demand for sustainable packaging and rising usage of nylon 66 in the production of industrial textile materials, apparels, and fiber yarns are fueling the demand in the global nylon 66 market. Among these applications, the electrical and electronics segment is expected to witness highest proliferation thanks to the inherent flame resistance, outstanding dielectric strength, and outstanding resistance to tracking an electric path properties of nylon 66. However, in high-end markets such as Asia Pacific and North America, the popularity of nylon 66 is expected to continue due to the flourishing automotive industry in these regions.
North America Showcases Largest Share in Nylon 66 Market
Geographically, the global nylon 66 market is segmented into North America, Asia pacific, and Europe. Among those, North America is expected to lead the global nylon 66 market. This regional market hold share of 40% in 2017 and is also expected to contribute same share during the forecast period as well. This is because the region has seen rapid establishment of manufacturers along with growing demand for high-temperature resistant engineering plastics and lightweight plastics. Other than these, rising electrical & electronics industry and automotive industry in the region is also driving demand for nylon 66 market.
Some of the prominent players operating in the global nylon 66 market are UBE INDUSTRIES, LANXESS, Royal DSM, EMS-GRIVORY, and Ensinger.
Nylon 66 Market - Overview
Nylon 66 is a major type of Nylon or polyamide resins, which is popular due to its durability, ductility, high strength, and resistance to high temperatures. It is used for producing engineering thermoplastic compounds and fiber yarns. Nylon 66 is extensively utilized in metal replacement applications.
Nylon synthesized by poly-condensation of hexamethylenediamine and adipic acid yields Nylon 66. Nylon 66 has higher heat resistance and superior mechanical properties compared to Nylon 6. It can be reinforced with impact modifiers, fibers, internal lubricants, and fillers to improve its physical properties such as stiffness, ductility, strength, friction properties, and wear resistance. Nylon 66 is widely used in various machine parts, tires, ball-bearing cages, carpet fibers, electro-insulating materials, pipes, conveyor belts, airbags, ropes, and apparels. Good appearance, high resistance to temperature and chemicals, processing flexibility, and toughness make Nylon 66 suitable for several engineering applications. Nylon 66 is extensively used in applications such as industrial, automotive, consumer goods, and electronics & electrical.
Among grades, the resin grade segment is anticipated to expand at a significant pace during the forecast period. Resin-grade Nylon 66 enhances performance characteristics of glass fibers, which makes them suitable for producing lightweight components of car engines and electric components.
Among applications, the automotive segment held a major share of the market in 2017. This trend is likely to continue during the forecast period. Moreover, the electrical & electronics segment is projected to expand at a significant CAGR between 2018 and 2026, due to high demand for Nylon 66 in connector manufacturing.
In 2016, BASF and ContiTech Vibration Control developed A3WG10 CR, a specialty Nylon 66 filled with 30% of glass fiber, which was optimized to sustain high mechanical load. It was used to manufacture the world’s first plastic transmission crossbeam in the rear-axle sub-frame of the Mercedez-Benz S-Class model.
In terms of value and volume, North America held a significant share of the global Nylon 66 market in 2017. The region is expected to continue its dominance during the forecast period. The U.S. is a highly lucrative market for Nylon 66 in North America. Worldwide increase in car production is projected to propel the global Nylon 66 market. The automotive sector in North America is also expanding at a significant pace, which is anticipated to offer lucrative opportunities to the Nylon 66 market in the region in the next few years. Market share held by Asia Pacific is expected to increase during the forecast period. The Nylon 66 market in Europe is likely to expand at a significant pace in the near future. The markets in Latin America and Middle East & Africa are likely to expand at a sluggish pace during the forecast period.
This report analyzes and forecasts the market for Nylon 66 at the global and regional levels. The market has been forecast in terms of revenue (US$ Mn) and volume (kilo tons) for the period from 2018 to 2026, considering 2017 as the base year. The study includes drivers and restraints for the global Nylon 66 market. It also covers the anticipated impact of these drivers and restraints on the demand for Nylon 66 during the forecast period. The report also highlights opportunities in the Nylon 66 market at the global and regional levels. The report provides detailed profiling of Nylon 66 manufacturers along with the competition matrix.
The report comprises detailed value chain analysis, which provides a comprehensive view of the global Nylon 66 market. The Porter’s Five Forces model for the Nylon 66 market has also been included to help understand the competition landscape. The study encompasses market attractiveness analysis, wherein grade and application segments have been benchmarked based on their market size, growth rate, and attractiveness. The study also includes pricing analysis based on grade and region.
The report provides a decisive study of the global Nylon 66 market by segmenting it in terms of grade and application. In terms of grade, the market has been divided into fiber grade and resin grade. In terms of application, the Nylon 66 market has been segregated into textile, industrial, carpets, automotive, electrical & electronics, consumer goods & appliances, packaging, films & coatings, and others (wires & cables, etc.). These segments have been analyzed based on the present and future trends. Regional segmentation includes current and forecast demand for Nylon 66 in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides the actual market size of the Nylon 66 market for 2017 and the estimated market size for 2018 with forecast for the next eight years. The global Nylon 66 market has been provided in terms of revenue (US$ Mn) and volume (kilo tons). The market size has been provided for the global, regional, and country-level markets.
The report comprises profiles of major companies operating in the global Nylon 66 market. Key players operating in the Nylon 66 market are BASF SE, UBE INDUSTRIES, Ltd., Ascend Performance Materials, LANXESS, Ensinger, RadiciGroup, Royal DSM, Asahi Kasei Corporation, DowDuPont, EMS-GRIVORY, and CELANESE CORPORATION.
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