Global Nylon Market – Synopsis
Nylon is a synthetic fiber and thermoplastic made from petrochemicals. It is one of the most popular plastics available today. Available in the form of fibers, bristles/ sheets, and filaments, Nylon is used in the manufacturing of items and molded products ranging from fiber, yarn, and fabric to tires and household appliances. The most common commercial uses of nylon are plastic fasteners and machine parts, cookware, and fabric.
Nylon has garnered huge prominence as a synthetic substitute for silk in the manufacturing of parachutes. For its elasticity, strength, resistance to mildew, availability, and price, Nylon is the most preferred fabric for the manufacturing of sleeping bags, tents, sails, tennis strings, rope, and fishing poles, etc. Therefore, the Nylon market is garnering extensive accruals all over the world.
Considering the rapid market expansion, & the growth potential the market holds, Market Research Future (MRFR) recently published an in-depth study report, giving out the complete market insights for the period 2017 – 2027. In its analysis MRFR asserts that the global Nylon market is forecasted to grow exponentially by 2027, registering a staggering CAGR during the review period.
On the other hand, nylon is not a biodegradable material, and its production releases a huge amount of greenhouse gas – nitrous oxide that significantly contributes to the global warming. Nylon fishing nets and synthetic textile fibers wore off during washing account for two of the largest sources of micro-plastic pollution in the ocean, hampering the aquatic environment considerably.
On the positive side, Nylon is recyclable, and its production could be ceased while still meeting the demand by increasing the accessibility of nylon recycling schemes. Conversely, the recycling process is again energy intensive, and the uses of more harmful chemical dyes and the amount of released.
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Industry/ Innovation/ Related News
May 09, 2018 – Nylon Corporation of America, Inc. (NYCOA), a leading manufacturer of engineered nylon resins announced that its plan to commercialize a new line of nylon-based thermoplastic elastomers (TPE) to be sold under the Ny-Flex trade name, by December 2018.
May 29, 2018 – Radici Group (Italy) one of the leading global chemicals companies, announced that collaborating with the companies in its European production chain, has supplied its coaches of its Ski Club with a new 100 percent nylon gilet. The specialty garment is developed within an Eco-design framework and is easily recycled mechanically at the end of its life, becoming a secondary raw plastic material to be used for technical and industrial applications.
Global Nylon Market – Regional Analysis
Asia-Pacific region emerging as the most promising market for Nylon globally accounted for the largest market share in 2016. Due to the growing textile and household appliance sector in the most populous countries such as India, China, and Japan, the APAC market is projected to continue its lead throughout the review period as well. Moreover, growing population and the increasing per capita income is primarily driving the growth of the Nylon market in the region, driving the construction and automobile industry. Thus giving Asia-Pacific a competitive advantage over other regions.
North America region is another lucrative market for Nylon in the global space, owning a substantial market share. Owing to the increased usages of the material in the manufacturing of a range of molded products, the Americas market is anticipated to grow significantly during the review period. The US, accounting for one of the five largest markets for Nylon, stands as the primary growth driver for the regional market.
Europe, market accounting for a significant market for Nylon, is poised to witness steady growth in the years to come. The well-established automotive industry is further fuelling the growth of the market in the region, generating the huge demand for tires during the review period. Growing markets in the countries such as Russia, Germany, and the Netherlands, backed by the increasing investments in the tire market predominantly drive the regional market growth.
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