According to Fortune Business Insights the global nylon market size was valued at USD 31.09 billion in 2023 and is projected to grow from USD 32.64 billion in 2024 to USD 48.86 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period. Nylon is a type of polymer that is produced by the reaction between carbon-based chemicals that are usually found in petroleum and coal under high pressure. It is widely adopted to manufacture plastic machine parts and electronics owing to its high tensile strength, non-conductivity, heat resistance, and low-cost properties. Additionally, it is used for manufacturing bolts, screws, nuts, and washers in the automotive industry across the globe.

Polyamide, also known as nylon, is a versatile polymer used in various industries for its wide range of applications. It is produced through the polymerization of caprolactam or adipic acid & hexamethylene diamine. Companies in the industry, such as Invista, are investing in expanding their production capacities to meet the growing demand and enhance their manufacturing processes.

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Nylon Market Segmentation:

Versatility of Nylon 6 Fibers in Textile Applications Spur’s Market Growth

By type, the market is segmented into Nylon 6 (resin, fiber) and Nylon 6,6 (resin, fiber). Nylon 6 fibers dominate the global market for their strong adoption in the textile industry, offering excellent mechanical strength and wear resistance for various webbing products.

Automotive Sector's Strong Demand for Resins and Fibers Propel Segmental Growth

By application, the market is segregated into automotive, electrical & electronics, appliances, film & coatings, wire & cables, consumer, industrial & machinery, and others.
The automotive segment held the largest nylon market share in 2022, driven by the extensive use of polyamide resin and fibers in various automobile applications such as airbags, injection molded components, and tire cords.

From the regional ground, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

List of the Companies Profiled in the Market:

• DuPont (U.S.)
• BASF SE (Germany)
• Lanxess AG (Germany)
• Nylon Corporation of America, Inc. (NYCOA) (U.S.)
• Shenma Industrial (China)
• Ascend (Thailand)
• Domo Chemicals (Belgium)
• Radici Partecipazioni SpA (Italy)
• Invista (U.S.)
• DSM (The Netherlands)
• Formosa Group (Taiwan)
• SINOPEC (China)
• Ube Industries (Japan)
• LIBOLON (Japan)
• ZIG SHENG INDUSTRIAL CO., LTD. (Taiwan)
• Other

What does the Report Include?

The global market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaborations that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.

DRIVING FACTORS

Increasing Adoption of Product from the Packaging Industry to Favor Growth

Polymeric products such as nylon 66 have excellent properties such as high elasticity that are extensively adopted across several industries. For instance, they are adopted as films and coatings in the packaging industry owing to their high tensile strength and toughness. The industrial applications include packaging of food and fluids such as oils, grease, and acidic food and they are in great demand across other industrial applications. Additionally, the increasing focus on developing advanced nylon products to cater to the increasing consumer demand is expected to bode well for the growth of the global nylon market in the forthcoming years.

REGIONAL INSIGHTS

Increasing Demand for Films & Coating in Asia-Pacific to Aid Growth

Among all the regions, the market in Asia-Pacific stood at USD 13.92 billion in 2019 and is expected to hold the highest position in the global market during the forecast period. This is attributable to the increasing demand for films and coating from the packaging industry in countries such as India and China in the region.

North America is anticipated to experience significant growth owing to the growing automotive industry and the increasing production of nylon 66 polymers by the manufacturers between 2020 and 2027.

COMPETITVE LANDSCAPE

Major Companies Focus on Product Expansion Facilities to Strengthen Their Market Positions

The global nylon market is fragmented by the presence of several major companies that are focusing on consolidating their positions by expanding their production facilities and cater to the increasing demand for the product across several industrial applications. The other key players are adopting strategies such as merger and acquisition, partnership, and collaboration to maintain their presence in the highly competitive global marketplace.

Industry Development

September 2018 – INVISTA, a leading manufacturer of polymeric materials, announced the expansion of its facility located at Shanghai Chemical Industry Park (SCIP), China. The company is expected to add 40 kilotons of nylon 66 to its production facility by 2020 to cater to the increasing consumer demand across Asia-Pacific region.

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