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The global nylon market is being aided by the rapidly expanding automobile industry, where its demand has increased particularly to manufacture lightweight vehicles. The Asia Pacific serves as both the largest supply and highest demand market for the product. The region accounts for nearly 60% of total capacity in the global nylon industry. Within the Asia Pacific, though China is the major importer of nylon, Japan has emerged as the leading importer of the product in 2018 owing to the growing automobiles and electronics industry in the region. In the Asia Pacific and Latin America, the increased demand for nylon 6 and nylon 6,6 is supporting the growth of the industry. Another significant market for the product is Europe, where the growing end-use sectors of nylon, such as, film and coatings and automobiles, among others are driving the demand for the product in the region. Country-wise, Germany and the United States are the leading exporter of the product, together accounting for more than 30% of the global exports. The growing CPG, and packaging and coating industries are further fueling the global demand for nylon.
The growing demand for polyamides to produce lightweight and high-quality products is leading to the growth of the global nylon industry as nylon is one of its types. In August 2020, Solvay S.A. (EBR: SOLB), a key player in the industry, announced that the company, together with BASF (OTCMKTS: BASFY) and Domo Chemicals have reached an agreement that Domo will acquire the Solvay’s European Polyamide 6.6 (PA 6.6) business, finally leading to the divestiture of Solvay’s global, non-European PA 6.6 business to BASF, which aims to increase capacities to produce polymers and further develop polyamide 6.6. This decision was taken after the European Commission approved BASF’s USD 1.8 billion purchase of Solvay’s nylon 6,6 business in January 2020. Such developments are expected to aid the global nylon industry over the forecast period.
Market Breakup by Types, End-Uses, and Regions:
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The major players in the global nylon market are BASF SE, E. I. du Pont de Nemours and Company, Ascend Performance Materials LLC, LANXESS Corporation, Koninklijke DSM N.V., Solvay, Invista, libolon enterprise co. ltd, and Honeywell International Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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