Overview:
Nylon Market is projected to be worth USD 55.35 Billion by 2030, registering a CAGR of 5.47% during the forecast period (2022–2030) Market Research Future (MRFR) announced certain estimates in the report by making an assessment of several factors.
The study reveals that the Nylon Market segment would substantially rise due to the support from the textile segment. Its cognition in the sports industry is surging, which increases its market operation scope. In the automotive industry, as a major component for tire manufacturing, nylon is getting easy entrance. However, the COVID-19 onslaught may have put some blocks on the growth path. This is due to the struggle of the automotive and construction sectors.
Segmentation:
The market report on nylon has been studied on the basis of type and application. These two segments have data that are backed by charts, graphs, and several other scientific approaches that will help in devising strategies.
By types, the global report on the nylon market has been segmented into Nylon 6,12; Nylon 6,6; Nylon 6; Nylon 4,6; and Nylon 12. The nylon 6,6 segment is witnessing notable traction from end-user industries.
By applications, the report on the nylon market has been segmented by military supply, tire, textile, and household appliances. The textile segment is witnessing a hike in intake. For the military supply segment, the hike in budgetary investment can help bolster the global market.
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Regional Analysis:
Asia Pacific would take charge of the global nylon market and the regional automotive and textile industries would bolster this growth. In addition, the rising disposable income in the region can support the market by backing the expansion of end-user industries.
Competitive Landscape:
Asahi Kasei Corporation, BASF SE, Evonik Industries AG, Honeywell International, Inc., UBE Industries Limited, Invista S.A.R.L. (Koch Industries, Inc.), E.I. Dupont De Nemours Company, Formosa Plastics Corp., Solvay SA, Lanxess AG, Royal DSM NV, Quadrant AG, Huntsman Corporation, Saudi Basic Industries Corp, and Arkema SA., are some of the prominent names who are involved in aggressive methods to ensure their own strategic position and boost the market outcome. These companies are strengthening their market positions by launching plans involving mergers, and acquisitions, increasing funding for research and development to boost innovation, introducing of better branding strategies, and various types of collaborations. MRFR listed these moves to gauge how much the market can benefit from trends and who all can emerge as trendsetters for the coming days.
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Industry News:
In June 2020, Invista announced that it had started the construction of a plant in Shanghai that will boost its nylon production by adding 400,000 tons per year. The company declared that it had already invested more than USD1 billion for the adiponitrile (ADN) plant at the Shanghai Chemical Industry Park (SCIP) that will help the company in meeting the rising demand for the product.
In June 2020, as a countermeasure to curb the COVID-19 risks, the government made a decision to stop the export of medical masks, but it will allow the export of masks made of rayons and nylons Industry Applications. It has also liberalized the process to make sure that exporters gain substantially from their base market.
In June 2020, Oliver Healthcare Packaging announced that they had developed a new pouch consisting of new LF-1050N 40ga nylon and Tyvek 1073B. This could serve as an alternative for pouches made of thicker-gauge nylons or make with PET/PE.
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