Press release
Nylon 66 Market Analysis by Global Segments, Size and Forecast 2019
Nylon synthesized by the polycondensation of hexamethylenediamine and adipic acid results in nylon 66. As compared with nylon 6, this has high heat resistance and superior mechanical properties. It can be reinforced with impact modifiers, fibers and internal lubricants, and fillers to improve its physical properties such as stiffness, ductility, strength, friction properties, and wear resistance. It is widely used for various machine parts, tires, ball bearing cages, carpets fibers, electro-insulating material, pipes, conveyor belts airbags, ropes, and apparel. Good appearance, resistance to high temperature and chemicals, processing flexibility, and toughness make nylon 66 suitable for several engineering applications. In addition, sectors such as industrial, automotive, consumer goods, and electronics and electrical extensively use nylon 66.
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In the report, Transparency Market Research (TMR) offers a comprehensive analysis of drivers and restrictions in the global nylon 66 market. It also presents insight into the various segments and regions of the market.
Global Nylon 66 Market: Trends and Prospects
The global nylon 66 market is expected receive major impetus from the automotive industry. Improving lifestyle and increase in disposable income of customers in developing economies will supplement the demand for nylon 66. Light-weight automobiles improve the overall efficiency of the vehicle, thus increasing the demand for automobiles. This invariably boosts the growth of the nylon 66 market. To abide by vehicle emission standards, the demand for eco-friendly automobiles has grown in recent years, thereby driving the demand for nylon 66 in the forecast period as well.
Another attractive industry for nylon 66 is electrical and electronics and this industry is expected to fuel the market growth. Processing flexibility and other advantageous physical properties of nylon 66 are brought to use in the electrical and electronics industry. Rising demand for high performance and lightweight materials from a large consumer base in developed as well as developing economies is fuelling the growth of the electrical and electronics sector. On the other hand, rising cost of raw materials and energy and high production costs are the major factors expected to limit the growth of the global nylon66 market in the years to come.
Global Nylon 66 Market: Regional Analysis
The global market for nylon 66 is geographically classified into Europe, North America, Asia Pacific, and Rest of the World. Out of these, North America accounted for a considerable market share and is also the leading producer of nylon 66. However, due to matured markets and movement of manufacturing plants to lower cost-based countries such as China, the regions of North America and Europe are expected to show sluggish growth
On the other hand, Asia Pacific is a major consumer of nylon 66 due to its use in various application areas. Asia Pacific is projected to witness high growth in terms of consumption and production as compared to other regions. The market is pegged to expand due to the growth of the automotive and electrical and electronic industries.
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The regions of Southeast Asia, Latin America, and Eastern Europe will experience high growth rate in the years to come owing to rapid expansion of the electrical and electronics industry, growth in auto sales, and shifting preference of manufacturers from metals to nylon 66.
Companies Mentioned in the Report
The global nylon 66 market is highly fragmented and with the increasing demand, the competition is anticipated to get intense in the coming years. Some of the prominent players in the market are Honeywell International Inc., Li Peng Enterprice Company Ltd., Rhodia SA, Royal DSM N.V., Ube Industries Ltd., Evonik Industries AG, BASF SE, Radici Group, DuPont, Asahi Kasei Corporation, Sabic Innovative Plastics LLC, Lanxess AG, and Invista S.A.R.L.
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