Nylon Market Size, Share & Industry Analysis, By Type (Nylon 6 {resin & fiber} Nylon 6,6 {resin & fiber}), By Application (Automotive, Electrical & Electronics, Appliances, Film & Coating, Wire & Cable, Consumer, Industrial & Machinery and others), and Regional Forecast 2019-2026

The global nylon market size was valued at USD 23.64 billion in 2018, and it is estimated to reach USD 30.77 billion by 2026, with a CAGR of 3.3% over the forecast period.

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Nylon is a common name for a family of a synthetic polymer called polyamides. Nylon 6 and Nylon 6,6 are the major polyamides that account for over 90% of the total polyamides. Both nylon 6 & nylon 6,6 are available in resin and fiber forms in the market.  Nylon was the first engineering plastic to be invented and accounts for a significant share in the global engineering plastics market. Nylon fiber is prominently used in the textile industry and nylon resins in injection molding and extrusion applications. Nylon 6 is formed by polymerization of caprolactam, whereas nylon 6,6 is produced by polycondensation of hexamethylenediamine and adipic acid. The production of nylon 6,6 is dependent on adiponitrile, which is a key feedstock for hexamethylenediamine. More than 90% of adiponitrile produced annually is used for the manufacturing of nylon 6,6.

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Based on type, the market is classified into nylon 6- resin & fiber and nylon 6, 6- resin & fiber, and based on application nylon market is segmented into automotive, electrical & electronics, appliances, film & coating, wire & cable, consumer, industrial & machinery, and others. Nylon fiber & resin has healthy adoption in the automotive industry. Nylon fibers are used for airbags and tire cords, whereas nylon resin is used for a variety of injection molded parts in automotive form power train components to automotive electrical.

MARKET DRIVERS

“Soaring demand for Nylon in the Automotive industry is fueling market growth.”

More than three-fifths of the nylon 6 fibers and around one-third of nylon 6,6 fibers are used in the manufacturing of tire cord due to their high tenacity and ability to withstand high temperature. Nylon 6,6 fibers are also used in the manufacturing of airbags. The demand for nylon 6,6 fibers for airbags is expected to increase over the forecast period owing to the rising adoption of airbags equipped vehicles. Customers prefer airbags equipped vehicle variants due to increasing awareness about the benefits of airbags. Many vehicle owners also custom-fit airbags into their vehicles. With the increasing production of automotive tires, the demand for nylon fibers is further expected to increase. Though the automotive industry was in the slow lane in 2018 & 2019 in most parts of the world, the industry is expected to witness healthy growths over the coming years on the back of increased sales of electric vehicles. Electric vehicles are strongly backed with government subsidies which in turn will create lucrative growth opportunities for tire and other automotive components manufacturers.

On the other hand, nylon resin is significantly used in automotive components made by injecting molding. There was a disruption in the supply of nylon 6,6 in the market during the year 2018 and 2019 due to force majeure of multiple adiponitrile manufacturing facilities in those years. This resulted in tight supply of nylon resin in the market. Consumers had to switch to other engineering plastic resins and many preferred usage of close ally nylon 6 for similar applications.

SEGMENTATION

By Type Analysis

“The engineering properties of Nylon 6,6 to create lucrative growth opportunities.”

Nylon 6,6 possesses excellent properties of engineering plastics that make it ideal for injection molding applications. It is predominantly used to make plastic components for automotive, electronics, appliances, and other industries. Besides, nylon 6,6 films and coatings produced by the extrusion process have healthy demand in the packaging industry, especially for food & fluid packaging such as grease, acidic food, oils, etc. These are clear, printable & thermoplastic films that make them ideal for these applications. It is also suitable for use in microwave cooking applications. These films have exceptional strength and toughness, along with excellent oxygen barrier properties. Moreover, these are reported to be puncture, scratch, and flex-crack resistant. Cheese packaging is one of the major application areas of nylon films.

Nylon 6 fibers dominate the global nylon market on the back of strong adoption in the textile industry. Due to its high mechanical strength, toughness and wear resistance, it is used to manufacture nylon webbing products such as dog leashes, safety belts, luggage straps, sports goods, and others. 

By Application Analysis

“Automotive Segment is poised to Generate the Highest Revenue During the Forecast Period.”

The automotive segment accounts for the lion's share in the global nylon market. Due to the high usability of nylon resin and fiber in the automotive in the form of tire cord, airbags and injection molded components result in high revenue generation from the automotive segment. In a race to minimize vehicle weight and optimize fuel efficiency, the demand for plastics is continuously increasing in the automotive industry. With the increasing sales of electric vehicles and the establishment of proper infrastructure to support the market growth of electric vehicles, engineering plastics such as nylon is expected to play a major role.

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Film & coatings segment also accounts for a prominent share in the global nylon market. Nylon films exist as un-oriented nylon and bi-axially oriented nylon (BOPA) films. Nylon films are dominantly used in the packaging of goods & products that require a high oxygen barrier along with high strength. Some of these goods & products include processed meat (sausage, bacon) cheese & other dairy products, smoked fish, and semi-finished microwavable meals. Moreover, these films are easily recyclable. The ban on the use of single-use plastics around the globe is expected to boost the nylon market share during the forecast period.

REGIONAL ANALYSIS

The Asia Pacific is anticipated to remain a major consumer of nylon during the forecast period owing to the rising demand from automotive and films & coating applications for the packaging industry. The demand in the region is predominantly driven by the emerging economies in the region, such as China and India. China accounts for more than half of the total consumption and production of nylon in the region. Also, to decrease its dependence on imports of nylon 6,6 and adiponitrile, major producers are coming up with capacities in China, to fulfil the rising demand in the country and the surrounding region. On the other hand, nylon 6 and caprolactam are oversupplied in the regional market that has resulted in lower operating rates.

North America is one of the largest producers of nylon. It accounts for more than 40% share in of the global nylon 6,6 capacity. The automotive industry drives the regional nylon market trend. The ban on single-use plastics in the U.S. is expected to increase the demand for nylon films in the region.

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Europe trails the Asia Pacific for the consumption of nylon in the global market. The market is expected to grow moderately over the forecast period backed by strong demand from the automotive industry. Law-makers in the Europe are introducing attractive norms such as subsidies to increase the sales of electric vehicles. For instance, Germany has increased the amount of subsidy granted on electric vehicles and has extended the “environmental bonus” criterion to the e-vehicles owner until the end of 2025. Similarly, France has also increased the subsidy amount.

Meanwhile, countries like Sweden have announced an exemption from vehicle tax for e-vehicle owners. This is expected to increase the electric vehicle sales and also the consumption of nylon in automotive industry over the forecast period. Moreover, the EU has also voted for the complete ban of single-use plastic by 2021, which is expected to boost the consumption of recyclable plastic films such as nylon over the forecast period.

Latin America and the Middle East & Africa regions account for single-digit shares in the global nylon market. The turbulence in the political and economic conditions in Latin America slows down the market growth. The demand in the Middle East & Africa region is driven by more developed economies of the region such as GCC countries in the Middle East and Egypt & South Africa in the Africa region.

INDUSTRY KEY PLAYERS

“Global Titans are focusing on increasing the production capacities of more valuable nylon 6,66 product.”

The global market for nylon 6 is already oversupplied with a large number of installed capacities. Key players in the supply chain are increasing the capabilities of nylon 6,6 and its feedstock, such as adiponitrile. Ube industries, INVISTA, Ascend, etc. are some of the players that are adding the capacities for nylon 6,6 and feedstock to meet the increasing demand. Also, the prices of these polymeric materials are highly volatile, which is expected to hamper the growth. Also, the changing geopolitical equations and trade policies directly impact the supply chain.  

List of Key Companies Covered:

• DuPont


• BASF SE


• Lanxess AG


• Nylon Corporation of America, Inc. (NYCOA)


• Shenma Industrial


• Ascend


• Domo Chemicals


• Radici Partecipazioni SpA


• Invista


• DSM


• Formosa Group


• SINOPEC


• Ube Industries


• LIBOLON


• ZIG SHENG INDUSTRIAL CO., LTD


• Other

REPORT COVERAGE

A growing trend is observed in the penetration of the nylon market across the industries.  The report provides qualitative and quantitative insights into the market and a detailed analysis of the nylon market size & growth rate for all possible segments that exist in the market. The nylon industry is segmented by type, application, and geography. Based on type, the market is segmented into nylon 6 (resin & fiber) and nylon 6, 6 (resin & fiber). Based on application, the market is classified into automotive, electrical & electronics, appliances, film & coating, wire & cable, consumer, industrial & machinery, and others. Geographically, the nylon market has been analyzed across five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These regions are further categorized into countries.

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Along with this, the report provides an elaborative analysis of the Nylon Market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in this market, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key industry trends, competitive landscape, and company profiles.

Report Scope & Segmentation

Key Industry Developments

• August 2019, Solvay and BASF, manufacturers of specialty chemicals & materials, reached an agreement with Domo Chemicals, a manufacturer of nylon, to divest Solvay’s performance polyamides business in Europe as part of the European Commission’s merger control clearance process. The deal is worth USD 1.78 billion on cash & debt-free basis.


• September 2018, INVISTA, a manufacturer of nylon and other polymeric materials headquartered in the US, announced to add 40 kilotons of Nylon 6, 6 by 2020 at its facility in Shanghai Chemical Industry Park (SCIP), China. The production is expected to come on stream in 2020. The added capacity will enable company to serve more customers in Asia-Pacific region.


• August 2018, INVISTA, started with the construction of adiponitrile (key raw material for Nylon 6,6) manufacturing facility in China. The project is estimated to cost around USD 1 billion. The construction is expected to be complete in 2020 and capacity is expected to come on stream in 2023.