The global nylon-6 market is expected to exhibit a stable CAGR of 5.9% over the projection period from 2022 to 2032. The global market is expected to secure around US$ 26,040.9 Million in 2032 and is likely to hold a valuation of around US$ 14,679 Million in 2022.
The growth in the market is attributed to the surging concern about the environment as well as the demand for nylon-6 in the emerging textile market will make nylon-6 a more attractive product in the market. The inclusion of PA 6 and PA 6, 6 into 3-D printing systems is expected to lead to market growth for nylon-6 in the market. From 2016-2021, the market displayed a growth rate of 5.1%.
The nylon-6 is known to be a polyamide that is semi-crystalline and is commonly known as polyamide -6 (PA6). When polymerization takes place of the caprolactam, it leads to the production of polyamide 6. Attributing to its unique properties, several industries value its strength, durability, and elasticity in the market.
As a result of its high pressure, heat, and corrosion resistance, it is highly regarded in the manufacturing industry. In addition to its phenomenal properties, the nylon-6 polyamide is an engineered thermoplastic that comprises good flow properties, moldability, extrusion capability, chemical resistance, and morphological properties.
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It has diverse applications which involve fused filament fabrication (FFF), and nylon 6 is considered a promising candidate in future markets. Nyon-6 is known for its characterization of physical and chemical properties that make it suitable for a wide range of applications. Approximately 60% of the global production of polyamides is composed of nylon 6.
Around 6.6 million metric tons of nylon-6 were globally produced in 2013. In a huge variety of applications, both nylon 6 and nylon 66 can be used interchangeably depending on the local availability and the applications that require them in a particular environment. It becomes evident that nylon 66 and nylon 6 have different properties for industrial uses.
Key Takeaways
- Nylon-6’s versatility and its diverse application in various sectors is the major driving factor within the global market. Nylon-6 is used in various end-use industries such as automotive, packaging, electronics & electrical, wires & cables, textiles, films & coating, and others. As a result, the market is expected to benefit from an increase in demand for applications in the above sectors.
- Nylon 6 (PA-6) is anticipated to see a surge in demand attributed to its usage in the healthcare sector and musical instruments. In addition to that, the nylon-6 market growth continues to prosper over the assessment period through increased capital investments, higher productivity, and a growing product portfolio. Even though nylon-6 (PA6) is an ideal material due to its physical and chemical properties, some features may inhibit its use, like its tendency to shrink in molded sections.
- The lightweight advantages of nylon 6 result in a significant reduction in fuel emissions along with improved fuel efficiency. Transportation is widely becoming dependent on plastics over recent years. Furthermore, films and coatings are also emerging as a major driver in the food industry where films and coatings are being used to produce flexible packaging with a longer shelf life, such as meat packaging. This sector is dominated by low-cost plastic packaging such as PP, PE, and PVC.
- Attributing to its high dielectric resistance, nylon 6 is known to be the most preferred polyamide in applications subjected to thermal and mechanical stress. The potential uses of nylon 6 have increased due to the emergence of polymer technologies.
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Key Companies Profiled:
- BASF SE
- Honeywell International Inc.
- DuPont
- Royal DSM N.V.
- UBE INDUSTRIES, LTD.
- Invista
- Gujarat State Fertilizers and Chemicals
Competitive Landscape
Key players in the global nylon-6 market are expected to focus on mergers and acquisitions. The global market is fragmented due to the presence of regional and local players spread across the globe. In order to gain a competitive advantage in the market, prominent market players are inclining towards technological advancements in order to cater to consumer preferences.
Key Segments Profiled in the Global Nylon-6 Market
By Type:
- Nylon-6 (PA6) Fiber
- Nylon-6 (PA6) Resin
By Application:
- Transportation
- Electrical and Electronics
- Textiles
- Industrial Application
- Other (include music, healthcare, coating sector)
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More Insights into the Nylon-6 Market
According to the FMI predictions, the global nylon 6 market will continue to dominate the North American region specifically within the transportation sector. According to the forecast, this region is expected to account for 23.8% of the global market share by 2022. Automotive, aerospace and other key manufacturing markets in North America drive the nylon industry.
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The post Nylon-6 Market to receive Overwhelming Hike USD 26,040.9 Million in Revenues by 2032, Says FMI Analyst appeared first on Future Market Insights.