Nylon Report 2027 Growth Trends by Manufacturers, Regions, Type and Application, Forecast
Nylon Market–Market Overview
The global nylon
market has been estimated to register a significant growth on account of
increasing demand of light weight fuel efficient vehicles. The primary factors
driving growth of the market are the rising use of the light weight vehicles,
growing demand for light weight, heat resistant and durable material in
numerous industrial applications, and ever increasing demand of the product
from textile industry. The global automotive market is estimated to grow at
higher CAGR to mark over USD 90 billion revenue in 2017. The production and use
of light weight cars and other automotive, as projected by Morgan Stanley
analysts, is set to rise to 2.9 percent of 99 million new vehicles in 2020 and
to 9.4 percent of 102 million new vehicles in 2025, from 1.1 percent of 86.5
million this year. This is anticipated to fuel demand of the nylon in
manufacturing light yet durable parts. Additionally, there is growing demand
for the demand for organic materials which is expected to rise globally due to
the rising prices of petrochemical-based raw materials. Bio-based polyamides
are a high-quality alternative to substitute petro-based materials. They can be
used in automotive, electronics, and sports applications. As a result, it has
been projected that in future the demand of nylon may surge manifolds.
Moreover, surging demand for and use of consumer goods and electronic devices
is expected to further boost growth of the market.
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Key
Players:
BASF SE, Honeywell
International, Inc., Asahi Kasei Corporation, Evonik Industries AG, E.I. Dupont
De Nemours & Company, UBE Industries Limited, Invista S.A.R.L. (Koch
Industries, Inc.), Lanxess AG, Quadrant AG, Formosa Plastics Corp., Solvay SA,
Saudi Basic Industries Corp, Huntsman Corporation and Arkema SA., and Royal DSM
NV, among others are some of the prominent players at the forefront of
competition in the global nylon market and are profiled in MRFR Analysis.
Nylon
Market- Competitive Landscape
The global nylon
is a highly mature market with significant number of major players operating
into the market. The market is driven by flourishing construction, automotive
and sports equipment industry. The market is greatly concentrated by the
presence of number large players yet, BASF SE, Evonik Industries AG, Lanxess
AG, Solvay SA, and Arkema SA are the key manufacturers in this market. Almost
all of these market participants are primarily adopting the expansion and
product launch tactics to strengthen their market position. Growing automotive
industries, and continuous rising demand for sports goods and equipment, along
with the collaborations and agreements between manufacturers, distributers, and
marketing firms are key market forces operating in the market for the growth of
the demand for nylon. Considering these trends, the global nylon market is
likely to witness considerable competition over the forecast period of 2017-2023.
Industry/ Innovation/ Related News:
September 19, 2017- Germany based chemical giant BASF SE and Belgium
based chemical major entered into a USD 1.9 billion deal. BASF SE acquired the
nylon business of Solvay SA. This will complement BASF’s engineering plastics
portfolio as the will be integrated into the performance materials and monomers
division of BASF SE. As of 2017, the unit operates 12 production sites, four
research locations and 10 technical support centers worldwide.
October 11, 2017- BASF SE, the Germany based chemical giant, has developed
new semi-transparent nylon product called Ultramid Vision. It is a
semi-crystalline nylon featuring very high light transmission and low light
scattering properties. According to BASF, The new material is suited for use in
visual check components such as fluid level indicators as well as applications
in illumination and light fixtures. It combines the good mechanical properties
and process ability of nylon 6 at an attractive price.
July 12, 2017- Arkema SA, a France based specialty chemicals
company has recently announced its plan to invest around USD 327.80 million for expansion of its
bio sourced nylon 11 production in Asia. With an establishment of this new
plant, the company would increase the global production of bio sourced nylon 11
by 50%. The new plant, which will produce both the amino 11 monomer and its
polymer, is expected to come on stream in late 2021.
April
26, 2017- German specialty
chemical company Lanxess AG announce an investment of USD 27.2 million in
improving efficiency of its integrated production complex for nylon and
precursors for plastics in Antwerp, Belgium. The Antwerp plant currently has a
capacity of 220,000 metric tons per year of caprolactam. Caprolactam is a
key precursor for the production of Lanxess’ plastics.
June 22, 2016- China based Cathay Industrial Biotech Ltd has announced
its plans to construct a brand new facility in Xinjiang to manufacture
bio-based nylon. The company has also signed an agreement to expand its
capacity for bio-based intermediates for use in the textile and engineered
composite sectors. This technology reduces both dependence upon oil and
environmental impact in the production of polyamides and has been ear-marked
for rapid development by many governmental and technology associations.
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