Press release
Rising Automotive Production to Augment the Demand for Nylon 66 : Fact.MR
Surging automotive and electronics production to cater to a proliferating consumer demand is projected to propel the global nylon market to grow 1.7X during the forecast period (2019 – 2029). Nylon is employed in the manufacturing of automotive and electrical components that require high tensile strength, heat resistance, and high elasticity.Click Here to Get Complete Synopsis of this Report https://www.factmr.com/report/4598/nylon-market
The material offers superior abrasive resistance which positions it as a viable alternative to steel, aluminum, rubber, gunmetal, brass, and bronze. The superior finishing of nylon products even when reinforced makes it a suitable alternative for aesthetically appealing applications. Its compatibility with polyester, spandex, and cotton impels demand from the textiles industry. Nylon 6 and Nylon 66 will provide remunerative growth opportunities for market players during the forecast period.
Leading organizations in the global nylon market are
BASF SE
Lanxess AG
Huntsman Corporation
AdvanSix Inc
Ube Industries Ltd.
INVISTA
Domo Chemicals
Toray Industries Inc.
Ashley Polymers Inc.
Ascend Performance Materials LLC
Toyobo Co. Ltd.
Goodfellow Group
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Global Nylon Market: In-Depth Assessment on Key Segments
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
Speak to Research Analyst https://www.factmr.com/connectus/sample?flag=AE&rep_id=4598
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.
“Market players must leverage advancements in material science and manufacturing processes. Amidst stringent statutory regulations, it is crucial for manufacturers to employ industry 4.0 technologies along with latest advancements in raw materials.” -Says the Fact.MR Analyst
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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.
Find More Valuable Insights on Nylon Market
Fact.MR, in its new offering, provides an in-depth analysis of the global nylon market, displaying data on historical demand (2014-2018) and forecast data for the period, 2019-2029. The study provides readers with essential insights on the nylon market on the basis of product (nylon 6 and nylon 66), applications (automobile, engineering plastic, textile, electrical & electronics, and others), and across 6 key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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