Nylon Research 2021 Research by Size, Business Opportunities, Top Manufacture, Industry Growth, Industry Share Report, Regional Analysis and Global Forecast to 2027
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.
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.
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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.
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.
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