Nylon market future demand analysis with forecast 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.
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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.
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.
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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