Nylon Market Overview:
The global nylon market has been estimated to register a significant growth on account of increasing demand of light weight fuel efficient vehicles. The primary factors driving growth of the market are the rising use of the light weight vehicles, growing demand for light weight, heat resistant and durable material in numerous industrial applications, and ever increasing demand of the product from textile industry. The global automotive market is estimated to grow at higher CAGR to mark over USD 90 billion revenue in 2017.
The production and use of light weight cars and other automotive, as projected by Morgan Stanley analysts, is set to rise to 2.9 percent of 99 million new vehicles in 2020 and to 9.4 percent of 102 million new vehicles in 2025, from 1.1 percent of 86.5 million this year. This is anticipated to fuel demand of the nylon in manufacturing light yet durable parts. Additionally, there is growing demand for the demand for organic materials which is expected to rise globally due to the rising prices of petrochemical-based raw materials. Bio-based polyamides are a high-quality alternative to substitute petro-based materials. They can be used in automotive, electronics, and sports applications. As a result, it has been projected that in future the demand of nylon may surge manifolds. Moreover, surging demand for and use of consumer goods and electronic devices is expected to further boost growth of the market.
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Key Players:
BASF SE
Honeywell International, Inc
Asahi Kasei Corporation
Evonik Industries AG
E.I. Dupont De Nemours & Company
Invista S.A.R.L
Lanxess AG, Quadrant AG
Formosa Plastics Corp
Huntsman Corporation
Arkema SA
Industry/ Innovation/ Related News:
September 19, 2017- Germany based chemical giant BASF SE and Belgium based chemical major entered into a USD 1.9 billion deal. BASF SE acquired the nylon business of Solvay SA. This will complement BASF’s engineering plastics portfolio as the will be integrated into the performance materials and monomers division of BASF SE. As of 2017, the unit operates 12 production sites, four research locations and 10 technical support centers worldwide.
October 11, 2017- BASF SE, the Germany based chemical giant, has developed new semi-transparent nylon product called Ultramid Vision. It is a semi-crystalline nylon featuring very high light transmission and low light scattering properties. According to BASF, The new material is suited for use in visual check components such as fluid level indicators as well as applications in illumination and light fixtures. It combines the good mechanical properties and process ability of nylon 6 at an attractive price.
July 12, 2017- Arkema SA, a France based specialty chemicals company has recently announced its plan to invest around USD 327.80 million for expansion of its bio sourced nylon 11 production in Asia. With an establishment of this new plant, the company would increase the global production of bio sourced nylon 11 by 50%. The new plant, which will produce both the amino 11 monomer and its polymer, is expected to come on stream in late 2021.
April 26, 2017- German specialty chemical company Lanxess AG announce an investment of USD 27.2 million in improving efficiency of its integrated production complex for nylon and precursors for plastics in Antwerp, Belgium. The Antwerp plant currently has a capacity of 220,000 metric tons per year of caprolactam. Caprolactam is a key precursor for the production of Lanxess’ plastics.
June 22, 2016- China based Cathay Industrial Biotech Ltd has announced its plans to construct a brand new facility in Xinjiang to manufacture bio-based nylon. The company has also signed an agreement to expand its capacity for bio-based intermediates for use in the textile and engineered composite sectors. This technology reduces both dependence upon oil and environmental impact in the production of polyamides and has been ear-marked for rapid development by many governmental and technology associations.
Nylon Market Competitive Landscape:
The Global Nylon is a highly mature market with significant number of major players operating into the market. The market is driven by flourishing construction, automotive and sports equipment industry. The market is greatly concentrated by the presence of number large players yet, BASF SE, Evonik Industries AG, Lanxess AG, Solvay SA, and Arkema SA are the key manufacturers in this market. Almost all of these market participants are primarily adopting the expansion and product launch tactics to strengthen their market position. Growing automotive industries, and continuous rising demand for sports goods and equipment, along with the collaborations and agreements between manufacturers, distributers, and marketing firms are key market forces operating in the market for the growth of the demand for nylon. Considering these trends, the global nylon market is likely to witness considerable competition over the forecast period of 2017-2023.
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