Nylon 6,6 Market: Segmented: By Grade (Fiber, Resin), By Application (Textiles, Industrial/Machinery, Carpets, Automotive, Consumer Goods & Appliances, and Others), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2031
[ 170 + Pages Research Report ] Nylon 6,6 Market to surpass USD 7.3 billion by 2031 from USD 5.4 billion in 2021 at a CAGR of 3.1% in the coming years, i.e., 2021-31.
Nylon 6,6 is a kind of polyamide, which is mostly used in textile and plastic industries. It is made up of two monomers with each having 6 carbon atoms. It has high mechanical strength, good impact resistance, good electrical insulating properties, high stiffness and is lightweight. Due to these properties, it is widely used in automotive, textiles, carpets, consumer goods and appliances etc.
Nylon 6,6 market is expected to project a notable CAGR of 3.1% in 2031.
Growing automotive sector, increasing demand in electronic, marine, and consumer goods industries along with technological advancements are inducing the Nylon 6,6 market. More excellent automobile manufacturing, more airbags per vehicle, and stronger safety rules are driving the demand for Polyamide 6,6. As vehicle production increases in worldwide and the pace at which airbags are installed increases in accordance with rising safety standards, polyamide 6,6 filament is exhibiting amazing development in its primary use as airbags.
Automotive segment to grow with the highest CAGR during 2021-31
Based on application, Nylon 6,6 is classified into Textiles, Industrial/Machinery, Carpets, Automotive, Consumer Goods & Appliances, and Others. During the forecast period, Automotive segment is projected to grow with the highest CAGR. The growth is attributed to the rising demand for automotive due to increasing disposable income of consumers, growing infrastructure, and the government’s fuel-efficient regulations. Further, Nylon 6,6 is an ideal material for use in automotive components due to its properties such as high wear resistance, light material, good strength and good machinability.
Resin segment to grow with the highest CAGR during 2021-31
Nylon 6,6 is fragmented on the basis of grade into Fiber, Resin. During the forecast period, Resin segment is expected to grow with the highest CAGR. The growth is attributed to the use of Resin grade nylon in production of various commercial and industrial products.
Growth of the Automotive industry
With growing automotive sector, the demand for Nylon 6,6 is expected to grow due to its various applications such as airbag padding modules, door panels, consoles, engine covers, etc. Further, Nylon 6,6 offers high impact resistance, dimensional stability, and transparency which is creating huge growth opportunities for its application in electronics and marine industries.
Technological Advancements and Increasing demand from consumer good industry
To meet specific requirements, new grade production will be enabled with the advancements in the technologies. Rising research and development in high-temperature resistant engineering plastics is also fueling the market growth of Nylon 6,6 market. Additionally, rising adoption of polymers over metal components and increasing demand from consumer goods industry is further accelerating the market growth.
High costs and high energy consumption
Unstable prices of crude oil are resulting in high production costs of Nylon 6,6 which is restraining the market growth. Further, high energy consumption and environmental concerns over the use of Nylon 6,6 is hampering the market growth.
Ascend Performance Materials LLC
Nylon 6,6 market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is projected to hold the largest market share during the forecast period. The growth is attributed to rapid advancement in technology, presence of major market players and developed market for the automotive industry. Moreover, the market in the Asia Pacific region is expected to grow at a significant rate during the forecast period.
Global economies were hit hard after the advent of the Covid-19 pandemic. The supply and demand for automotive came to a halt due to sudden imposition of lockdown across the world. There was a huge disruption in the global supply chains and procurement of raw materials. The pandemic had a negative impact on the Nylon 6,6 market because of the reduced demand for automotive globally. However, in the post-pandemic scenario the Nylon 6,6 market is expected to grow at a significant rate owing to advancements in technologies and increasing automotive industry.
Nylon 6,6 is further segmented by region into:
Nylon 6,6 Segments:
|Market size value in 2021
|USD 5.4 billion
|Revenue forecast in 2031
|USD 7.3 billion
|CAGR of 3.1% from 2021 to 2031
|Base year for estimation
|Revenue in USD million and CAGR from 2021 to 2031
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Grade, Application and Region
|North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
|Key companies profiled
|BASF SF, Ascend Performance Materials LLC, Ensinger GmbH, LANXESS, Radici Group, Asahi Kasei Corporation, Royal DSM, Dow DuPont Inc., CELANESE CORPORATION, EMS-GRIVORY, INVISTA, Honeywell international and Other Prominent Players
Nylon 6,6 market size was estimated at USD 5.4 billion in 2021 and is expected to reach USD 7.3 billion in 2031.
Nylon 6,6 is a kind of polyamide, which is mostly used in textile and plastic industries. It has high mechanical strength, good impact resistance, good electrical insulating properties, high stiffness and is lightweight.
Automotive and Resin segment accounted for the largest Nylon 6,6 market share.
Key players: BASF SF, Ascend Performance Materials LLC, Ensinger GmbH, LANXESS, Radici Group, Asahi Kasei Corporation, Royal DSM, Dow DuPont Inc., CELANESE CORPORATION, EMS-GRIVORY, INVISTA, Honeywell international and Other Prominent Players.
Growth of the automotive industry and technological advancements and increasing demand from consumer good industry are the factors driving the Nylon 6,6 market.
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