Nylon Market Size, Industry Growth, Trends and Analysis Research Report
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Global Adblue Market Overview 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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Top Key Players of Global Nylon Market 2019-2023 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 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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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. Browse Full Report @ https://www.marketresearchfuture.com/reports/nylon-market
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Global Nylon Market Regions Global Nylon Market has been analyzed with respect to the five key regions, —Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. The Asia-Pacific market accounted for the largest market share in 2017 and is projected to grow at a robust CAGR during the forecast period owing to growing automotive, textile, and construction industries. Nylon finds widespread applications in automotive interior and exterior components, fabrics, yarns, among others which propels the regional market growth. Germany dominated China is the leading country in the region followed by India, Japan, Taiwan, and South Korea. The North America and Europe market accounted for a substantial market share in 2017 and is projected to grow at a moderate CAGR in the following years owing to saturated economic development. There is growing demand for the product largely in automotive industry. US is the leading country in North America region the nylon market in Europe owing to the presence of leading manufacturing companies in the region such as BASF SE and Evonik Industries AG. France, Switzerland, and Belgium are the other regions contributing to the regional market growth.
The Latin American market accounted for a substantial market share in 2017 and is projected to grow at a moderate CAGR in the coming years owing to growing economic developments in the region, and surging demand for the product in consumer goods. The Middle East & Africa market held a small market share in 2017 and is expected to register sluggish growth during the review period owing to limited demand for the product in the region 5
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