The size of the worldwide nylon market was estimated at USD 31.1 billion in 2021, and it is anticipated to increase at a CAGR of 6.2% from 2022 to 2030. During the projected period, rising demand for nylon from automotive applications is anticipated to fuel market expansion. There is a lot of concentration in the automotive sector.
Even though there are many market players, the product variety is wide, but the top four market players—General Motors, Toyota Motor Corporation, Ford Motor Company, and Volkswagen AG—control around 49% of the market. Timing belts, crankcases, cylinder head coverings, fuse boxes, wire harness connectors, oil containers, bearings, and bushings are a few examples of engine parts that employ nylon.
The rapid expansion of the Chinese market and the steady expansion of the European car industry are primarily responsible for the increase in nylon manufacturing. In recent years, the Asia Pacific automobile market has grown quickly. The expansion of infrastructure as well as improving socioeconomic trends have helped this sector to expand. Major automotive players have moved their manufacturing bases to nations like Indonesia, India, and China as a consequence of efforts by the government to offer enticing FDI policies and the availability of labour.
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In 2021, the nylon 6 market segment held the top spot and accounted for more than 55.0% of global sales. Because of its characteristics, polyamide 6 can be used in place of materials including rubber, other plastics, aluminium, gunmetal, brass, and bronze at a lower cost. The use of PA 6 electrical protection devices has been influenced by these characteristics.
In 2021, the automotive application category dominated the market and contributed for over 35.0% of global sales. Composite materials made of nylon contribute to lighter and more environmentally friendly automobile parts. The composites are utilised to make hydraulic clutch lines, bezels, headlamps, airbag canisters, air intake manifolds, and automobile cooling systems. They are also utilised in exterior components including wheel covers, fuel caps, handles, tailgates, front-end grilles, and exterior mirrors. Due to reasons such the rising demand for lightweight automobiles to increase fuel efficiency, wear resistance, and superior mechanical qualities, nylon composites are anticipated to experience increasing demand in the automotive industry.
In 2021, the Asia Pacific region controlled more than 40% of worldwide revenue, dominating the market. One of the main factors driving the market in this area is the availability of labour and raw materials at affordable prices, together with the rising standard of living. A sizable untapped market and benevolent government policies are tempting international nylon makers to establish production and distribution facilities in the area. Manufacturers of electrical and electronic components are paying more attention to nylon as a result of plastic parts’ increased compactness and ease of integration with other components, which makes the design process simpler. It enables manufacturers to create MCBs with thinner walls that are smarter.
Key Organizations & Market Share Information
Due to the existence of numerous international and local firms, the industry is headed toward consolidation. In the international market, major firms have robust distribution networks and product brands. The market’s continuing R&D initiatives present growth and expansion prospects for industry participants, which is expected to have a favourable impact on the market as a whole.
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These businesses use mergers and acquisitions as one of their primary competitiveness tactics.
- DSM Engineering Plastics
- Akro-Plastics GmbH
- Ensinger GmbH
- Asahi Kasai
- SRF Plastics
- Evonik Industries
- DuPont Inc.
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