Nylon Market Size, Share & Trends Report

Nylon Market Size, Share & Trends Analysis Report By Product (Nylon 6, Nylon 66), By Application (Automobile, Electrical & Electronics, Engineering Plastics, Textile), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Feb, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-1-68038-960-9
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 112

Report Overview

The global nylon market size was estimated at USD 28.51 billion in 2019 and is expected to register a revenue-based CAGR of 6.5% over the forecast period. The growth is accredited to the accelerated usage of nylon in the automobile industry. The material is used for manufacturing different components to reduce the weight of vehicles and emission levels. Nylon 6 and 66 are gradually replacing metal parts in automobiles, owing to their high tensile strength, high elasticity, and excellent abrasion resistance. These factors are expected to augment the growth of the overall market. Nylon 6 is used in engine components such as bushings, bearing, oil containers, wire harness connectors, fuse boxes, cylinder head covers, crankcases, and timing belts.

U.S. nylon market size

Rising demand for nylon 6 in engineering plastics, electrical and electronic, and several niche applications is expected to majorly fuel the market growth. At present, the majority of the demand for nylon 66 is derived from the automotive industry. However, it is also exhibiting a trend of being captivated by the textile and the engineering plastics industry. This factor is expected to positively influence the market growth in the forthcoming years.

However, the increasing threat of substitution with polypropylene, bioabsorbable polymers, para-aramid synthetic fibers, and Polyvinylidene Fluoride (PVF), owing to their lower competitive prices is anticipated to hamper the market growth. PVF is a non-reactive thermoplastic, which possesses finer characteristics when compared to nylon. PVFs have high wear resistance, high UV resistance, harder surface, and low elasticity. In recent years, PVF is gaining acceptance as a major substitute for nylon fishing lines.

Other environmentally-friendly substitutes, such as bioabsorbable polymer pose a key threat due to the biodegradable nature. Compared to nylon, polypropylene is smoother, more elastic, and better for handling. It has high tensile strength and low elongation and finds application in textile, medical, and fishing. Para-aramid synthetic fibers are stronger and have higher heat resistance compared to nylon monofilaments.

Product Insights

The unique properties of nylon 6 (PA 6) make it a cost-effective substitute for materials, such as steel, bronze, brass, gunmetal, aluminum, plastics, and rubbers. These properties attract electrical protection device manufacturers to use PA 6 in their offerings. The use of nylon 6 in various applications over the past few years has established its reliability, utility, and supportive economics on the basis of cost and performance. The excellent surface finish of the product even under reinforced conditions makes it suitable for aesthetically important applications.

Moreover, the rapidly rising demand for nylon 6 filament in travel accessories owing to its high abrasion resistance, better dimensional stability, higher impact strength, among other factors is expected to further fuel the growth. Better resistance to dirt, dust, and wear makes it easy to maintain. The product is lightweight, which is projected to propel the product application as a baggage material.

Application Insights

Based on applications, the nylon market is segmented into automobile, electrical and electronics, engineering plastics, textile, and others. Automotive held the largest market share in 2019, followed by engineering plastics and textiles. Nylon composites are used for increasing the environmental sustainability of the automotive parts and for reducing the weight of automotive components. This factor is anticipated to fuel the segment growth in the near future.

Global nylon market share

The composites are used for manufacturing hydraulic clutch lines, headlamp bezels, automotive cooling systems, air intake manifold, and airbag containers. They are also used in exterior parts, such as wheel covers, fuel caps, tailgate handles, doors, front end grilles, and exterior mirrors. Factors such as excellent mechanical properties, wear resistance along with the growing need for lightweight vehicles in order to improve fuel efficiency is anticipated to further drive the demand.

Regional Insights

The Asia Pacific was the dominant regional segment occupying over 42.95% of the revenue share in 2019 followed by Europe and North America. The region is projected to continue holding the largest market share over the forecast period. Availability of low-cost raw materials and labor coupled with increasing spending power are the key factors driving the regional market growth. The availability of a huge untapped market coupled with supportive government policies is attracting global polyamide makers to set up manufacturing and distribution facilities in the region. China emerged as the largest regional market with a revenue share of more than 47.75% in 2019. Factor, such as growing automobile production and sales, developments in the manufacturing sector, availability of low-cost labor, and raw material, especially in India and China are anticipated to boost the demand for nylon 6 and 66 in the region.

Key Companies & Market Share Insights

The nylon 6 and 66 market is characterized by the presence of various well-established players, such as BASF SE; Lanxess AG; Huntsman Corporation; AdvanSix Inc.; INVISTA; and DOMO Chemicals. The competitive rivalry is expected to remain high over the upcoming years as the key players strive to develop better-finished products at competitive raw material prices. The companies are heavily investing in R&D for a balanced product portfolio.

Nylon Market Report Scope 

Report Attribute

Details

Market size value in 2020

USD 30.2 billion

Revenue forecast in 2027

USD 47.0 billion

Growth Rate

CAGR of 6.5% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Volume in kilotons, revenue in USD million & CAGR from 2020 to 2027

Report coverage

Volume forecast, revenue forecast, competitive landscape, growth factors and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; France; U.K.; China; India; Japan; South Korea

Key companies profiled

BASF SE; Lanxess AG; Huntsman Corporation; AdvanSix Inc.; Ube Industries Ltd.; INVISTA; Domo Chemicals; Toray Industries; Inc.; Ashley Polymers Inc.; Ascend Performance Materials LLC.

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. 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, 2016 - 2027)

    • Nylon 6

    • Nylon 66

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Automobile

    • Electrical & Electronics

    • Engineering Plastics

    • Textile

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

    • Europe

      • Germany

      • France

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Central & South America

    • Middle East & Africa

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