Nylon Market to Reach $49.1 billion, Globally, by 2033 at 4.6% CAGR: Allied Market Research

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May 14, 2024, 10:20 ET

The global nylon market is driven by rapid technological advancements in manufacturing of nylon. Technological advancements play a significant role in driving innovation within the nylon market. Ongoing research and development efforts focus on enhancing nylon's properties, improving manufacturing processes, and expanding its applications. Advancements in polymer chemistry have led to the development of new nylon formulations with enhanced performance characteristics, such as higher heat resistance, improved mechanical properties, and increased durability. In addition, innovations in processing technologies, such as injection molding and 3D printing, have enabled the production of complex nylon parts with greater precision and efficiency, opening-up new opportunities in various industries.

WILMINGTON, Del., May 14, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Nylon Market by Type (Nylon 6, Nylon 6,6; Nylon 6.10; Nylon 4.6; and Nylon 11 & 12), End-use Industry (Automobile, Electrical & Electronics, Aerospace, Textile, Packaging, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2033". According to the report, the "nylon market" was valued at $31.3 billion in 2023, and is estimated to reach $49.1 billion by 2033, growing at a CAGR of 4.6% from 2023 to 2033.

Prime determinants of growth

The global nylon market is driven by rising demand from various end-use sector. Nylon's versatility across a wide range of industries drives its market growth. From textiles to automotive, consumer goods to industrial applications, nylon finds extensive usage due to its exceptional properties. In textiles, nylon is favored for its durability, elasticity, and resistance to abrasion, making it suitable for clothing, carpets, and upholstery. Similarly, in the automotive sector, nylon's lightweight nature, high strength-to-weight ratio, and heat resistance make it ideal for components such as engine covers, air intake manifolds, and fuel systems. However, availability of substitute materials may restrain the growth of the nylon market.

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Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2033
Base Year	2023
Market Size in 2023	$31.3 billion
Market Size in 2033	$49.1 billion
CAGR	4.6 %
No. of Pages in Report	380
Segments covered	Type, End-use Industry, and Region
Drivers	Versatility across industries Lightweighting initiatives Technological Advancements Economic Trends
Opportunities	Technological Advancements Rise in sustainability initiatives
Restraints	Availability of substitutes Price volatility of raw materials Limited recycling infrastructures

The nylon 6,6 segment to maintain its lead position during the forecast period.

By type, the nylon 6 segment accounted for the largest share in 2023, contributing to more than half of the global nylon market revenue. The demand for nylon 6 has experienced robust growth due to its versatility, durability, and cost-effectiveness across various industries. Nylon 6's exceptional mechanical properties, including high tensile strength, toughness, and resistance to abrasion, make it indispensable in applications such as textiles, automotive components, consumer goods, and industrial equipment. Its lightweight nature contributes to fuel efficiency in automotive parts, while its affordability makes it an attractive option for manufacturers seeking reliable yet economical materials. Additionally, nylon 6's recyclability aligns with sustainability initiatives, further driving its increasing demand as industries prioritize environmental responsibility and resource efficiency.

The electrical and electronics segment to maintain its lead position during the forecast period.

By end-use industry, the automobile segment accounted for the largest share in 2023, contributing to more than one-fourth of the global nylon market revenue. The demand for nylon in the automobile sector is witnessing a significant upsurge due to several key factors. Firstly, the industry's focus on lightweighting to enhance fuel efficiency and reduce emissions has prompted the adoption of nylon, which offers high strength-to-weight ratio and durability, enabling the production of lighter yet resilient automotive components. In addition, nylon's versatility allows for its utilization in a wide array of applications within vehicles, ranging from under-the-hood components like engine covers and intake manifolds to interior parts such as airbag housing and seating fabrics. Furthermore, advancements in nylon formulations and manufacturing techniques have enabled the development of innovative solutions meeting stringent automotive performance standards. As automotive manufacturers strive to meet evolving regulatory requirements, improve vehicle performance, and cater to consumer preferences for more sustainable materials, the demand for nylon continues to grow steadily in the automobile sector.

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Asia-Pacific to maintain its dominance by 2032.

By region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for more than half of the global nylon market and is projected to register the highest CAGR of 4.9% during the forecast period. The demand for nylon is experiencing significant growth in the Asia-Pacific region due to several key factors. Firstly, rapid industrialization and urbanization in countries such as China, India, and Southeast Asian nations drive increased consumption of nylon-based products across various sectors, including textiles, automotive, electronics, and consumer goods. Moreover, rising disposable incomes and expanding middle-class populations in these countries are fueling demand for nylon in applications such as apparel, home furnishings, and personal care products. In addition, infrastructure development projects, particularly in emerging economies, require nylon for applications like pipes, cables, and construction materials, further boosting market demand. Furthermore, the region's emphasis on sustainability and environmental conservation is driving the adoption of nylon, which can be recycled and reused, aligning with the growing consumer preference for eco-friendly materials. As a result of these factors, the demand for nylon is steadily growing in the Asia-Pacific region, presenting significant opportunities for market expansion and investment.

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Leading Market Players: -

DuPont
BASF SE
Lanxess AG
NYCOA
Ascend Performance Materials LLC
DOMO Chemicals
SINOPEC
Formosa Chemicals & Fibre Corp.
INVISTA
Domo Chemicals

The report provides a detailed analysis of these key players in the global nylon market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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