Pune, Aug. 19, 2020 (GLOBE NEWSWIRE) -- According to the report, published by Fortune Business Insights in a report, titled “Nylon Market Size, Share & Industry Analysis, By Type (Nylon 6 {resin & fiber} Nylon 6,6 {resin & fiber}), By Application (Automotive, Electrical & Electronics, Appliances, Film & Coating, Wire & Cable, Consumer, Industrial & Machinery and others), and Regional Forecast, 2019-2026” the global nylon market size was valued at USD 23.64 Billion in 2018.
The global nylon industry is expected to reach USD 30.77 Billion by 2026, exhibiting a CAGR of 3.3% during the forecast period. With the surge in water sport activities, such as kite surfing, supping, scuba and kayaking, the production of nylon will increase. As nylon is essential in the manufacturing of water sports products, the initiatives by companies to recycle nylon and launch products will certainly be an imperative factor in boosting the nylon market share in the forthcoming years, states lead analysts at Fortune Business Insights.
For instance, Fatface, Brit-based swimwear Brand, has launched a new sustainable swimwear range with Mipan regen fiber from Hyosung, made from recycled nylon, and significantly reduces energy consumption. This eco-friendly product has acquired Control Union's Global Recycle Standard (GRS) certification.
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The nylon market report focuses on demonstrating a complete assessment of the market. It contains facts, thoughtful insights, historical information, industry-validated market information, and projections with a suitable set of assumptions and methodology. It offers valuable insights into all the notable developments of the market. It shares a complete overview of all the segments & parts of the market and also provides statistical data on all the regions. It is created after extensive research followed by an all-encompassing analysis to benefit companies, stakeholders, financers, and potential investors. Moreover, it also includes product launches, acquisitions, collaborations & partnerships, and industry developments.
INVISTA’s Plan to Escalate Nylon 6, 6 Capacity will Augment Healthy Growth
INVISTA, a major producer of fiber, resin, intermediates and nylon, and other polymeric materials headquartered in the United States, announced to add 40 kilotons of Nylon 6, 6 by 2020 at its facility in Shanghai Chemical Industry Park (SCIP), China. The production is due in 2020.
The key development of the company towards building a large capacity and production for nylon 6,6 will create new sales opportunities for the market in the forthcoming years. Furthermore, Pete Brown,vice president of nylon polymer, said in a statement, “We are continuing to make strategic investments to best meet our customers’ needs.”
Pete Brown also added, “ We’ve invested more than $1 billion in the nylon 6,6 value chain in the past five years, have recently committed to investing $1 billion more and are continuing to evaluate the market for additional opportunities in the future.” The investment in nylon 6,6 value chain will bode well for the nylon market growth in the foreseeable future.
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Rising Demand from the Packaging Industry to Boost Growth Prospects in Asia Pacific
Asia Pacific is expected to account for a high share in the global market owing to the rising demand for films & coating applications in the packaging industry. The growth in the region is also attributable to emerging economies such as China and India.
For instance, China accounts for more than half of the total consumption and production of nylon in the region. On the other hand, North America generated a revenue of USD 3415.9 Million and is expected to remain dominant during the forecast period. The increasing demand for nylon 6,6 from the automotive industry will support growth in the region. North America is one of the largest producers of nylon and the ban on single-use plastics in the U.S. is expected fuel demand for nylon in the forthcoming years.
List of the Major Companies in the Nylon Market Include:
- DuPont
- BASF SE
- Lanxess AG
- Nylon Corporation of America, Inc. (NYCOA)
- Shenma Industrial
- Ascend
- Domo Chemicals
- Radici Partecipazioni SpA
- Invista
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Major Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Trends
- Overview of Global Nylon Production
- Global Nylon Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Nylon 6
- Resin
- Fibre
- Nylon 6,6
- Resin
- Fibre
- Nylon 6
- Market Analysis, Insights and Forecast – By Application
- Automotive
- Electrical & Electronics
- Appliances
- Film & Coating
- Wire & Cable
- Consumer
- Industrial & Machinery
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
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