Nylon Resins Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.45 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Nylon Resins Market Analysis
The Nylon Resins Market size is expected to grow from 5.82 million tons in 2023 to 7.23 million tons by 2028, at a CAGR of 4.45% during the forecast period (2023-2028).
- One of the major factors driving the market is the growing demand from the packaging industry and increasing usage in the automotive industry.
- However, strict environmental regulations regarding the plastics usage is hindering the growth of the market studied.
- The usage of Nylon 6 anf Nylon 66 is expected to provide opportunities in the market during the forceast period.
- Among the product types, Nylon 6 is expected to dominate the market studied during the market studied.
Nylon Resins Market Trends
Increasing Demand from Automotive Industry
- Nylon is a lightweight material that is used in the production of automobiles as it reduces the overall vehicle weight and helps improve fuel efficiency.
- There have been diverse industries for which nylon resins are used, including automotive components, electrical power distribution, and packaging films, among others. The automotive industry holds the largest share of nylon resin consumption.
- The section of the vehicle part that utilizes nylon resins includes door panels, upholstery, airbags, carpets, and others. The growing automotive industry boosts the demand for the consumption of nylon resins in the market.
- According to the OICA, in 2022, around 85.01 million vehicles were produced across the globe, witnessing a growth rate of 5.99% compared to 80.205 million vehicles in the previous year, thereby indicating an increased demand for nylon resins from the automotive industry.
- In 2022, the market for global automotive manufacturing reached USD 2.95 trillion, with unit sales volumes reaching 78 million units.
- The growth in the automotive industry can also be attributed to the rising demand for electric vehicles across the globe. As per the reports from the World Economic Forum (WEF), nearly 4.3 million new battery-powered EVs (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold in the first half year of 2022. This enhanced the demand for materials such as nylon resins and others.
- In 2022, according to the European Automobile Manufacturers Association, the total car production in the North American region rose by 10.3% and reached 10.4 million units.
- According to the electric vehicle (EV) volumes, global electric vehicle (EVs) sales reached 10.52 million units in 2022, registering a growth rate of 55% as compared to 2021.
- In Europe, Germany is among the key manufacturer of vehicles. The automobile manufacturing industry in Germany is a key shareholder of the overall production in the region due to the presence of major car-making brands such as Mercedes-Benz, BMW, Audi, Porche, and Volkswagen, among others.
- Therefore, considering the aforementioned factors, the demand for nylon resins is expected to rise in the automotive industry significantly in the near future.
Asia-Pacific to Dominate the Market
- Currently, Asia-Pacific is the largest market for nylon resins and is expected to grow at a high rate during the forecast period, mainly because of increasing manufacturing capacities in the region.
- According to the Association of Southeast Asian Nations Automotive Federation (ASANAF), in 2022, Asia-Pacific produced 4.38 million units of motor vehicles and 3.63 million units of motorcycles and scooters. In the same year, a total number of 3.42 million units and 4.04 million units of motor vehicles and two-wheelers, respectively, were sold in the region.
- According to the China Association of Automobile Manufacturers (CAAM), the automotive manufacturing industry of China is the largest in the world.
- Many Automakers have been investing heavily in various segments of the industry. For instance, in November 2022, Maruti Suzuki India invested an amount of USD 865.12 million on various projects, including new facilities set-up and the introduction of new models.
- In January 2022, Honda China announced a joint venture with Dongfeng Motor Corporation Ltd for the development of an electric-vehicle manufacturing factory in Wuhan. The new facility will be opened in 2024 with a production capacity of 120,000 units per year.
- Nylon 6 compounds are also used effectively in the electrical and electronics sector. The components such as connectors, terminal blocks, circuit breakers, power tool housing, and others utilize nylon 6 resin.
- These compounds provide excellent properties, including toughness, flame retardant characteristics, insulation resistance, and good di-electric strength, among others, that make them suitable to be used in various electrical parts.
- According to Japan Electronics and Information Technology Industries Association (JEITA), in November 2022, the total production of the electronics industry reached USD 7.09 billion. In December 2022, the total electronics exported from Japan amounted worth USD 8.39 billion.
- Nylon is also used as a flexible packaging film for the type of food that is sensitive to oxygen. It is used for food items that require a high melting point, high mechanical strength, transparency, and a good oxygen barrier.
- In the countries such as India, the demand for online food ordering has increased, which boosts the demand for packaging materials. For instance, in February 2022, one of the leading food delivery companies in India, Zomato, stated its average monthly active food delivery restaurants grew six times while the growth in the monthly transacting customers reached 13 times over the period of the past five years.
- Hence, owing to the above-mentioned factors, Asia-Pacific is likely to dominate the market studied during the forecast period.
Nylon Resins Industry Overview
The global nylon resins market is moderately consolidated as most of the market share is divided among a few players. Some of the major players include BASF SE, DuPont, DSM, Asahi Kasei Corporation, and Kuraray Co Ltd., among others.
Nylon Resins Market Leaders
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BASF SE
-
DuPont
-
DSM
-
Asahi Kasei Corporation
-
KURARAY CO., LTD.
*Disclaimer: Major Players sorted in no particular order
Nylon Resins Market News
- April 2023: Asahi Kasei Corporation and Microwave Chemical launched a joint demonstration project with the objective of commercializing a chemical recycling process for polyamide 66 using microwave technology. The process utilizes microwaves to depolymerize PA66 and directly obtain the monomers hexamethylenediamine (HMD) and adipic acid (ADA), which is expected to be accomplished at a high yield with low energy consumption. The monomers obtained can then be used to manufacture new PA66.
- February 2022: BASF SE started marketing several polyamide (PAs) and polyphthalamide (PPA) grades in Europe. The company acquired these engineering plastics products as part of the takeover of Solvay's PA66 business. These products will be launched under the established brand name Ultramid.
Nylon Resins Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Increasing Demand from the Automobile Industry due to its High Utilization in making Molded Parts
- 4.1.2 Rising Demand from the Packaging Sector
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 Strict Government Regulations for Reducing Negative Environmental Impacts
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
-
5.1 Product Type
- 5.1.1 Nylon 6
- 5.1.2 Nylon 6,6
- 5.1.3 Bio-based Nylon
- 5.1.4 Other Product Types
-
5.2 Application
- 5.2.1 Moisture Absorbent
- 5.2.2 Chemical Resistant
- 5.2.3 Temperature Resistant
- 5.2.4 Aesthetic
- 5.2.5 Colorable
- 5.2.6 Nylon Alloys
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5.3 End-User Industry
- 5.3.1 Automotive
- 5.3.2 Aerospace and Defense
- 5.3.3 Electrical and Electronics
- 5.3.4 Packaging and Storage
- 5.3.5 Extrusion
- 5.3.6 Textile
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5.4 Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 ASEAN Countries
- 5.4.1.6 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 Italy
- 5.4.3.4 France
- 5.4.3.5 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle-East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 South Africa
- 5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Aquafil S.p.A.
- 6.4.2 Asahi Kasei Corporation
- 6.4.3 Ascend Performance Materials
- 6.4.4 BASF SE
- 6.4.5 DSM
- 6.4.6 Dupont
- 6.4.7 INVISTA
- 6.4.8 KURARAY CO., LTD.
- 6.4.9 NILIT
- 6.4.10 Solvay
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Inclusion of Nylon 6 and Nylon 66 in 3D Printing
- 7.2 Other Opportunities
Nylon Resins Industry Segmentation
Nylon resin is a type of engineering thermoplastic synthesized from ethylenediamine for the production of a variety of products for industrial use, such as films, hot-melt adhesives, binders, insulation, fiberglass, and filaments.
The nylon resin market is segmented by product type, application, end-user industry, and geography. By product type, the market is segmented into nylon 6, nylon 6,6, bio-based nylon, and other product types. By application, the market is segmented into moisture-absorbent, chemical-resistant, temperature-resistant, aesthetic colorable, and nylon alloys. By end-user industry, the market is segmented into automotive, aerospace and defense, electrical and electronics, packaging and storage, extrusion, and textile. The report also covers the market size and forecasts for the nylon resins market in 15 countries across major regions.
For each segment, the market sizing and forecasts have been done based on volume (Tons).
| Product Type | Nylon 6 | |
| Nylon 6,6 | ||
| Bio-based Nylon | ||
| Other Product Types | ||
| Application | Moisture Absorbent | |
| Chemical Resistant | ||
| Temperature Resistant | ||
| Aesthetic | ||
| Colorable | ||
| Nylon Alloys | ||
| End-User Industry | Automotive | |
| Aerospace and Defense | ||
| Electrical and Electronics | ||
| Packaging and Storage | ||
| Extrusion | ||
| Textile | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| ASEAN Countries | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Nylon Resins Market Research FAQs
What is the current Nylon Resins Market size?
The Nylon Resins Market is projected to register a CAGR of 4.45% during the forecast period (2024-2029)
Who are the key players in Nylon Resins Market?
BASF SE, DuPont, DSM, Asahi Kasei Corporation and KURARAY CO., LTD. are the major companies operating in the Nylon Resins Market.
Which is the fastest growing region in Nylon Resins Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Nylon Resins Market?
In 2024, the Asia Pacific accounts for the largest market share in Nylon Resins Market.
What years does this Nylon Resins Market cover?
The report covers the Nylon Resins Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Nylon Resins Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Nylon Resins Industry Report
Statistics for the 2024 Nylon Resins market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Nylon Resins analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
