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Global Nylon Market to Grow at a CAGR of 3.4% over the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Nylon Market Report and Forecast 2021-2026’, the global nylon market demand reached a volume of around 8.4 million metric tons in 2020. The demand is further expected to grow at a CAGR of 3.4% over the forecast period of 2021-2026 to attain a volume of 10.3 million metric tons by 2026.

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:

  • The major types of nylons available in the market are nylon 6 and nylon 6,6, among others.
  • The end-use sectors for nylon include automotive, film and coatings, industrial, consumer, electrical and electronics, appliances, and wire and cables, among others.
  • Region-wise, the global nylon market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing automobile industry, where nylon is used in the production of lightweight vehicles, is driving the growth of the industry. 
  • The expanding electronics industry is providing further impetus to the market.
  • The steadily growing packaging and coating sector, particularly in emerging economies, is supporting the growth of the industry. 
  • The increasing urbanisation, rising disposable incomes, and growing industrialisation, particularly in emerging regions, is further aiding the market growth. 
  • The rapid advancement in technology, leading to the production of advanced and premium products, is propelling the industry further.

Key Offerings of the Report:

  • The EMR report gives a detailed overview of the global nylon market, providing an insight into the types, end-uses, and regional markets of nylon for the periods (2016-2020) and (2021-2026). 
  • The report gives the regional historical (2016-2020) and forecast (2021-2026) price trends of nylon and its feedstock. 
  • The global trade data analysis of nylon and its feedstock has also been provided in the report by EMR, covering the value and volume of the leading import and exporting countries.
  • The report provides an assessment of the market based on Porter’s Five Forces model, along with providing a SWOT and value chain analysis.

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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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