Nylons Market Analysis:
Nylon is a group of synthetic polymers, also known as polyamides. These are thermoplastic materials, which can be molded into any shape by heating and then solidifying firmly in desired shape on cooling them back. Nylons can be produced in any form such as fibers or films by the reaction performed with equal parts of amine and carboxylic acid. Nylon made products have a wide array of applications in different industries, starting from making toothbrushes to films used for packaging, as well as in the automotive industry. This is attributed to superior qualities such as high tensile strength, chemical inertness, and resistant to scratches offered by polymers.
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has hit every aspect of the global market and the nylons market is no exception.
- The economic slowdown caused by the pandemic has led to decline in demand for automobiles, which has led to decline in the use of nylons.
- Demand for textile products such as bags, sportswear, and belts also decreased, owing to decrease in disposable income. Since these products have a significant use of nylon in them, decrease in demand for these products have impacted the nylon market to a great extent.
- Nationwide lockdowns and restrictions in national and international transport have severely affected business operations and supply chains for the global nylons market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Rapid industrialization and change in lifestyle of common people has increased use of nylons in daily life. Being a highly stable polymer, nylon films are extensively used in packaging raw food materials such as meat, vegetables, and dairy products. Growth in use of nylon in aforementioned applications is expected to drive growth of the market. With fast lifestyle of most people, consumers prefer easy to cook meals rather than spending time in preparing. Thus, microwavable nylon bags make it more convenient for consumers who put their packaged food straight into microwaves without taking it out of the packaging and thus, saving a lot of time.
Nylon fibers are also used in the textile industry, especially for making sportswear, belts, and straps for bags. In addition, nylon is significantly used in the automobile industry where nylon fibers are widely used in manufacture of tire cords, air bags, seat belts, and other components that withstand lower amount of stress such as gaskets and gears. Nylon molds and filaments are also used for making combs, brushes, and other personal care products that are used on a daily basis.
However, fluctuating prices of nylon polymers and availability of substitutes with better qualities such as bio-absorbable polymers and polyvinylidenefluoride have gained acceptance in the market act as a threat to the global nylons market. However, growth in demand for Nylon 6 filaments in several consumer goods such as baggage for its superior strength and abrasion resistance fuels growth of the market. Moreover, extensive use of nylon in engineering plastics has also escalated its demand in the market.
The market in the Asia-Pacific is expected to hold a major share of the market. This is attributed to the availability of cheap labor and raw materials as well as high population density along with rapid industrialization in emerging economies of the region. North America in a major producer of nylon and restrictions on single use plastics in major economies such as the U.S. has led to growth in the nylon market in the region.
Key benefits of the report:
- This study presents the analytical depiction of the global nylons industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global nylons market share.
- The current market is quantitatively analyzed to highlight the global nylons market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global nylons market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Nylons Market research report:
- What are the leading market players active in the nylons market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
- What would be the detailed impact of COVID-19 on the market?
Nylons Market Report Highlights
By Industry Vertical
Key Market Players
Asahi Kasei Corporation, E.I. Dupont De Nemours & Company, Lanxess AG, BASF SE, Evonik Industries AG, Solvay SA, UBE Industries Limited, Quadrant AG, Invista S.A.R.L. (Koch Industries, Inc.), Formosa Plastics Corp., Honeywell International, Inc., Saudi Basic Industries Corp.