The global nylon 6 and 66 market size is
expected to reach USD 41.13 billion by 2025, expanding at a CAGR of 6.2% over
the forecast period, according to a new study by Grand View Research, Inc.
Increasing global automobile production is anticipated to drive the growth.
Automobile is a highly
concentrated industry. Although the product range is high owing to a large
number of market participants, around 49% of the market is led by top players
including GM, Toyota, Ford, and Volkswagen. 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.
Growth in production can
mainly be attributed to a rapid rise of the China market, as well as the
consistent growth of the European automotive industry. In recent years,
automobile industry has witnessed robust growth, especially from Asia Pacific.
Infrastructure development and improving socio-economic trends are some of the
significant factors contributing to the growth. Favorable regulations,
availability of workforce, and government initiatives to provide attractive FDI
regulations have resulted in a shift of manufacturing bases of significant
players to regions such as China, India, and Indonesia.
Nylon 66 demonstrates
high dimensional stability coupled with excellent resistance to wear owing to
its lower moisture absorption property. Electrical protection devices require
high heat, water, and other electromechanical resistance to perform according
to standards. Further, it has a shorter and stronger bond, which provides it a
denser and tighter structure compared to nylon 6. Moreover, enhanced properties
of nylon 66 over nylon 6, which is the largest product in this market; is a
major factor driving the product demand. In thermally and mechanically stressed
moldings, nylon 66 has emerged as the preferred grade of polyamides on account
of its strong dielectric resistance. The development of polymer technology has
widened the application scope of nylon 66, which, in turn, is projected to
develop the product segment over the next eight years.
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click the link below:
https://www.grandviewresearch.com/industry-analysis/nylon-6-6-market
https://www.grandviewresearch.com/industry-analysis/nylon-6-6-market
Further key findings from the report suggest:
· Asia-Pacific is projected to lead the
market from 2018 to 2025, with China being the fastest growing country on
account of booming automotive industry
· Nylon 6 segment is potentially fueling
growth of the nylon 6 and nylon 66 market over the forecast period owing to the
low cost
· Major market participants are Lanxess AG;
AdvanSix Inc.; BASF SE; Huntsman Corporation; DOMO Chemicals; and INVESTA among
others. The market is characterized by the presence of various well-established
players
· The companies engage in various strategic
initiatives to boost market growth. For instance, in August 2018, Ascend
Performance Materials purchased an engineering plastics manufacturing company
based in the Netherland namely Britannia Techno Polymer. The acquisition helped
Ascend to establish manufacturing base in Europe and expand its global
compounding capacity.
Grand View Research has
segmented the global nylon 6 and 66 market on the basis of product,
application, and region:
Nylon 6 & 66 Product Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
Nylon 6
·
Nylon 66
Nylon 6 & 66 Application Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
Automobile
·
Electrical & Electronics
·
Engineering Plastics
·
Textile
·
Others
Nylon 6 & 66 Regional Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
