The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
The report offers actionable and valuable market insights of Nylon. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Nylon Market across various industries and regions.
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Key Takeaways of Nylon Market Study
- Nylon 6 accounts for a majority share of over 60% of the total market value, whereas, nylon 66 offers remunerative growth opportunities with a promising 6.7% CAGR during the forecast.
- Automotive application will grow 1.6X from 2019 to 2029. This can be attributed to synergetic characteristics of the material for engine parts and internal components of automotive.
- East Asia is in the vanguard of global sales with a majority share of 57% of the total market revenues. Booming automotive manufacturing in East Asian countries heightens product demand in this region. East Asia will grow 1.8X through 2029.
- South Asia & Oceania offer the most lucrative growth opportunities with a strong 7% CAGR from 2019 to 2029. Developing economies such as Indonesia are witnessing an impressive spurt in electric vehicle manufacturing that employs nylon for its light weight and high tensile strength.
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Industry 4.0 and Advanced Material Science Paving Way for Market Growth
Innovation of raw materials such as bio-based monomers will drive market growth during the forecast period. Market Players are investing in capacity expansion, reducing production costs and carbon emissions by leveraging industry 4.0 technologies. Leading players are looking at higher penetration within the Chinese nylon market on the back of surging demand for nylon based products. Industrial automation and advancements in material science will propel market growth. Increasing consumer traction for nylon based clothing will positively impact sales. Use of nylon by popular brands such as Versace has brought nylon fiber in lime light. Manufacturers must leverage such trends to garner increase sales during the forecast period.
Global Nylon Market: In-Depth Assessment on Key Segments
The global nylon market is segmented on the basis of material, application and region.
| Product | · Nylon 6· Nylon 66 |
| Application | · Automobile· Engineering Plastic
· Textile · Electrical & electronics · Others |
| Region | · North America· Latin America
· Europe · East Asia · South Asia & Oceania · Middle East & Africa |
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More Valuable Insights on Nylon Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Nylon, Sales and Demand of Nylon, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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