PA66 Fabric Cord Market: Introduction
- Polyamide 66 (PA66), also called nylon 66, is a semi-crystalline performance engineering plastic. It is made by polycondensation of hexamethylenediamine and adipic acid.
- High abrasion resistance, heat stability, strength, and other such characteristics possessed by PA66 make it a highly suitable polyamide for highly demanding automotive applications such as tire, airbags, and under-hood applications
Key Drivers of PA66 Fabric Cord Market
- Rise in sale of vehicles coupled with growing per capita income and consecutive rise in miles travelled per vehicle has led to high wear of tires. Increase in number of construction activities, industrialization and trade activities has fueled the usage of commercial vehicles, thus fueling the wear of tires and the demand for new replacement tires. PA66 fabric cord is generally utilized in the tire as reinforcement, as its core chemistry delivers a balance of technical properties that competitive yarns such as polyester and even PA6 find it hard to replicate. Thus, a rise in the demand for new tires and an increase in miles travelled by vehicles are boosting the PA66 fabric cord market across the globe.
- Consistent rise in number on-road vehicles and congestion in urban areas have increased the number of road-traffic accidents globally. According to statistics by the European Union, more than 23,400 people lost their lives in road accidents on European roads out of which 45% were vehicle occupants. These concerns regarding the severity of a potential vehicle occupant injury during a vehicle accident has increased the adoption of automotive airbags. The U.S. Department of Transportation stated that in 2017, airbags saved lives of 2,790 people on the streets of the U.S. Furthermore, several automakers have included airbags as a standard feature in their every vehicle model to increase their safety rating. PA66 cord is used in making the fabric of the airbag, as the fabric possesses the desired strength, heat stability, good aging characteristics, and energy absorption characteristics. Thus, increasing integration of airbags in automobiles is driving the global PA66 fabric cord market.
Challenges in PA66 Fabric Cord Market
- Rise in demand for PA66 for the manufacture of different automotive and industrial components has led to the shortage of supply in the market and subsequently, is prompting customers to develop and opt for alternative solutions. This, in turn, is restraining the PA66 fabric cord market across globe.
Impact of COVID-19 pandemic on PA66 Fabric Cord Market
- The recent pandemic of COVID-19 has disrupted automotive supply chains, thus creating a shortage of raw materials and components which hampered the sale of vehicles and in-turn decreased demand of PA66 fabric cord. However, demand in global PA66 fabric cord market is expected to increase in the near future, as governments have lifted the restrictions imposed and companies have restarted their operations with precautionary measures.
Europe and North America to hold significant share of PA66 Fabric Cord Market
- Transportation regulatory agencies in North America and Europe including U.S. National Highway Traffic Safety Administration and the European Union have mandated airbag technologies in all the vehicles sold in their respective jurisdictions. These favorable regulations have increased the application and demand for PA66, thus propelling the share held by North America and Europe in the global PA66 fabric cord market
- The PA66 fabric cord market in Asia Pacific is anticipated expand at a high growth rate during the forecast years due to a rise in vehicle production and sale in countries such as China, India, Japan, and South Korea. This rise in sale of vehicles boosts the demand for automotive components including tires, and airbags, which in turn drives the demand for PA66 fabric cord.
Key Players Operating in PA66 Fabric Cord Market
The global PA66 fabric cord market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the PA66 fabric cord market are:
- Cerex Advanced Fabrics, Inc.
- FORMOSA TAFFETA CO., LTD.
- Kolon Industries Inc.
- KORDÁRNA Plus a.s.
- Kordsa Teknik Tekstil A.?.
- Oriental Industries (Suzhou) Ltd.
- Radici Partecipazioni SpA
- Yaolong Spunbonded Nonwoven Technology Co., Ltd
Global PA66 Fabric Cord Market: Research Scope
Global PA66 Fabric Cord Market, by Coating Application
- Air springs
- Insulation and Shielding
Global PA66 Fabric Cord Market, by Density
- 0.3 to 0.6
- 0.6 to 0.8
- Above 0.8
Global PA66 Fabric Cord Market, by Vehicle Type
- Two Wheeler
- Passenger Vehicle
- Utility Vehicle
- Light Commercial Vehicle
- Buses and Coaches
- Off-road Vehicles
Global PA66 Fabric Cord Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.