Nylon Market Size, Share & Trends Analysis Report By Product (Nylon 6, Nylon 66), By Application (Automobile, Electrical & Electronics, Engineering Plastics, Textiles), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global nylon market size was valued at USD 31.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030. Increasing demand for nylon from automotive applications is expected to propel the market growth during the forecast period. The automotive industry is highly concentrated. Even though the product range is high owing to a large number of market participants, around 49% of the market is dominated by top players including General Motors, TOYOTA MOTOR CORPORATION, Ford Motor Company, and Volkswagen AG. Nylon is used in engine components such as timing belts, crankcases, cylinder head covers, fuse boxes, wire harness connectors, oil containers, bearings, and bushings.

The growth in nylon production can mainly be attributed to a rapid increase in the China market and the consistent growth of the European automotive industry. The automotive industry in the Asia Pacific has witnessed rapid growth in recent years. Improving socio-economic trends and infrastructure development have contributed to the growth of this sector. Initiatives by the government to provide attractive FDI regulations and the availability of workforce have resulted in major automotive players shifting their manufacturing bases to countries such as Indonesia, India, and China.

Currently, raw materials account for over 45% of the overall manufacturing cost of the vehicles. Aluminum and steel are the preferred raw materials in the automotive industry. However, stringent regulations focusing on reducing CO2 emissions at manageable levels and improving fuel efficiency can cause raw material trends to undergo a drastic change. Nylon 6 is used as coatings and films to prevent the raw materials from undergoing corrosion.

These trends have resulted in the adoption of nylon in the automotive industry as it is environment-friendly in comparison to plastics. Nylon facilitates higher design flexibility, which helps in producing advanced shapes without compromising the safety and stability of the vehicle. Nylon is anticipated to play a key role in the growth of the automotive industry over the forecast period.

Apart from the versatility offered by nylon, automobile manufacturers are expected to use them on a larger scale owing to the environmental benefits and the advantages offered by Nylon 6, which are in line with the global emission regulations. However, the threat of substitutes from other products such as polyvinylidene fluoride,para-aramid synthetic fibers, bioabsorbable polymers, and polypropylene is anticipated to hamper the growth of the market owing to their lower competitive prices. Other environment-friendly substitutes such as bioabsorbable polymers pose a key threat due to their biodegradable nature.

Product Insights

The nylon 6 segment led the global market and accounted for more than 55.0% share of the global revenue in 2021. The properties of polyamide 6 make it a suitable cost-effective substitute for materials such as rubbers, other plastics, aluminum, gunmetal, brass, and bronze. These properties have driven the use of PA 6 electrical protection devices.

Nylon 6 witnesses substantial demand from the premium carpet industry, which finds its base in Europe. Turkey is known for its extensive nylon-based textile industry and is one of the largest importers of nylon. The apparel and clothing industry is also witnessing a staggering growth in demand for nylon owing to the consumer preference for experimenting with different types of materials. Nylon 6 fabrics require minimal maintenance, are smooth, and dry quickly. They have low absorbency, which can be both advantageous and disadvantageous. The advantage is that water remains on the surface of the fabrics and runs off quickly. Nylon also exhibits the ability to retain its shape after washing, making it suitable for the fabric used in apparel.

Nylon 66 show high dimensional stability and enhanced resistance to wear with a melting point of 268°C for a high synthetic fiber due to its low moisture absorption property. Electrical safety devices need water, high heat, and electromechanical resistance to carry out their functions. Nylon 66 has a stronger and shorter bond, which produces a tighter and denser structure in comparison to Nylon 6.

Application Insights

The automobile application segment led the market and accounted for more than 35.0% share of the global revenue in 2021. Nylon composites help reduce the weight of automotive components and increase the environmental sustainability of automotive parts. The composites are used to manufacture airbag containers, air intake manifolds, automotive cooling systems, bezels, headlamps, and hydraulic clutch lines. They are also used in exterior parts such as exterior mirrors, front-end grilles, handles, tailgates, fuel caps, and wheel covers. Nylon composites are expected to witness significant demand in the automotive industry due to factors such as the growing need for lightweight vehicles in order to improve fuel efficiency, wear resistance, and excellent mechanical properties.

The automotive engine compartment extensively uses nylon to replace steel parts due to greater design flexibility as against traditional metals and its lower weight. The trend of engine downsizing has been prevailing in the automotive industry for a long time and can be attributed to the ability of small-cylinder capacity engines to toggle between the air charge temperatures. The growing trend of downsizing automotive engine parts can drive manufacturers to include plastic polymers as a substitute material, thereby positively impacting the market demand for nylon.

According to the European Automobile Manufacturers Association (ACEA), the number of automobiles produced in 2021 was 1.3% higher compared to 2020. This can be attributed to the growing consumer inclination toward electric vehicles and the rise in commercial vehicle demand due to the growing e-commerce sector. The growing automotive sector has driven several market participants to respond positively to this trend by developing heat and oil-resistant polymer compounds for a variety of automotive designs.

Regional Insights

The Asia Pacific dominated the market and accounted for more than 40.0% share of the global revenue in 2021. The availability of low-cost raw materials and labor, coupled with the increased spending power, is a major driver for the market in this region. The availability of a largely untapped market and supportive government policies are luring global nylon makers to set up manufacturing and distribution facilities in the region. Nylon is gaining attention from electrical and electronics manufacturers as plastic parts are more compact and can be easily integrated with other components, thus simplifying the design procedure. It enables manufacturers to develop smarter MCBs having thinner walls.

Increasing concerns over the size and carbon footprint of electrical devices are majorly driving product demand. As the market reaches out to new entrants and new consumers, most countries within the Asia Pacific are witnessing a fall in the unit price of nylon. In contrast, in developed markets such as South Korea and Japan, a premium approach regarding offerings and pricings is becoming a new trend as mainstream trademarks lose market share in affordable and mid-range product segments owing to changing consumer preferences.

The nylon industry in North America is primarily driven by the growth of the automotive, aerospace, and key manufacturing industries. Increased application of engineering plastics in various industries such as aerospace, automobile, defense, and electrical and electronics is boosting the demand for nylon in North America. End-use companies in Canada are contemplating including sustainable products in their product portfolio and entering into collaborations with bio-based nylon manufacturers, which will further contribute to the market growth. For instance, in August 2021, Lululemon Athletica, a Canadian apparel company, collaborated with Genomatica to create plant-based nylon to make lululemon products. Through this collaboration, companies would seek to develop sustainable products that can positively drive the market in the coming years.

Key Companies & Market Share Insights

The market is moving towards consolidation on account of the presence of a large number of global and regional players. Major players have strong distribution networks and product brands in the global market. The ongoing research & development activities in the market exhibit growth and expansion opportunities for market players, which, in turn, is projected to positively influence the overall market. On account of the higher demand for nylon 6 and 66, many nylon manufacturers, such as BASF SE, TOYOBO CO., LTD., Domo Chemicals, Ascend Performance Materials, and Ube Industries Ltd., have increased their production capacities to meet the rising demand from the application industries. Mergers & acquisitions are among the key strategies adopted by these companies to remain competitive.

The competitive rivalry among the manufacturers of Nylon is high as the market is characterized by the presence of a large number of global and regional players. Raw material suppliers play a crucial role in the value chain as they provide basic raw materials that are required to initiate the manufacturing process of nylon products. The outstanding performance of nylon to manufacture lightweight and fuel-efficient automobiles will continue to support the expansion of demand in the automotive industry during the forecast period.Some prominent players in the global nylon market include:

• BASF SE

• LANXESS

• Huntsman International LLC

• AdvanSix

• Ube Industries Ltd.

• Domo Chemicals

• TORAY INDUSTRIES, INC.

• Ashley Polymers, Inc.

• Ascend Performance Materials

• TOYOBO CO., LTD.

• Goodfellow

Nylon Market Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2030. For the purpose of this study, Grand View Research has segmented the global nylon market report on the basis of product, application, and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

  • Nylon 6

  • Nylon 66

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

  • Automobile

  • Electrical & Electronics

  • Engineering Plastics

  • Textiles

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • U.K.

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

    • Malaysia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia