Nylon Market–Market Overview
This is anticipated to fuel the demand for nylon in manufacturing light yet durable parts. Additionally, there is a growing demand for the demand for organic materials which is expected to rise globally due to the rising prices of petrochemical-based raw materials. Bio-based polyamides are a high-quality alternative to substitute petro-based materials. They can be used in automotive, electronics, and sports applications. As a result, it has been projected that in the future the demand of nylon may surge manifolds. Moreover, surging demand for and use of consumer goods and electronic devices is expected to further boost the growth of the market.
The nylon market has been estimated to register a significant growth on account of the increasing demand of lightweight fuel-efficient vehicles. The primary factors driving the growth of the market are the rising use of lightweight vehicles, growing demand for lightweight, heat-resistant and durable materials in numerous industrial applications, and the ever-increasing demand for the product from the textile industry.
Key Players:
BASF SE, Honeywell International, Inc., Asahi Kasei Corporation, Evonik Industries AG, E.I. Dupont De Nemours Company, UBE Industries Limited, Invista S.A.R.L. (Koch Industries, Inc.), Lanxess AG, Quadrant AG, Formosa Plastics Corp., Solvay SA, Saudi Basic Industries Corp, Huntsman Corporation and Arkema SA., and Royal DSM NV, among others are some of the prominent players at the forefront of competition in the global nylon market and are profiled in MRFR Analysis.
Nylon Market- Competitive Landscape
The global nylon is a highly mature market with significant number of major players operating into the market. The market is driven by flourishing construction, automotive and sports equipment industry. The market is greatly concentrated by the presence of number large players yet, BASF SE, Evonik Industries AG, Lanxess AG, Solvay SA, and Arkema SA are the key manufacturers in this market. Almost all of these market participants are primarily adopting the expansion and product launch tactics to strengthen their market position. Growing automotive industries, and continuous rising demand for sports goods and equipment, along with the collaborations and agreements between manufacturers, distributers, and marketing firms are key market forces operating in the market for the growth of the demand for nylon. Considering these trends, the global nylon market is likely to witness considerable competition over the forecast period of 2017–2023.
Industry/ Innovation/ Related News:
September 19, 2017- Germany based chemical giant BASF SE and Belgium based chemical major entered into a USD 1.9 billion deal. BASF SE acquired the nylon business of Solvay SA. This will complement BASF’s engineering plastics portfolio as the will be integrated into the performance materials and monomers division of BASF SE. As of 2017, the unit operates 12 production sites, four research locations and 10 technical support centers worldwide.
October 11, 2017- BASF SE, the Germany based chemical giant, has developed new semi-transparent nylon product called Ultramid Vision. It is a semi-crystalline nylon featuring very high light transmission and low light scattering properties. According to BASF, The new material is suited for use in visual check components such as fluid level indicators as well as applications in illumination and light fixtures. It combines the good mechanical properties and process ability of nylon 6 at an attractive price.
