Nylon 6 & 66 Market expected to reach $50.8 billion by 2029|AdvanSix Inc., Ashley Polymers Inc., BASF SE, Domo Chemicals, Huntsman Corporation
The global nylon 6 & 66 market is expected to reach $50.8 billion by 2029 after growing with healthy CAGR of 6.5% over the forecast period from 2019-2029. With rise in the consumption of plastics in various industries including automotive, consumer goods, and electrical & electronics will boost the demand of nylon 6 & 66 in the forecast period. Growing stringent government regulation regarding the emission control has resulted in increased consumption of plastic to make vehicle lighter and increase fuel efficiency will further enhance the overall market demand. Because of its appropriate characteristics of high tensile strength, high elasticity and great abrasion resistance, nylon 6 and 66 gradually replaces metal components in automobiles. It is anticipated that these variables will promote growth in the worldwide nylon industry.
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APAC region is expected to lead the overall nylon 6 & 66 demand due to presence of major industries including automotive, electrical & electronics, consumer goods, textile, and so on. China is the major producer of automotive and electrical & electronics which resulted in increased demand of plastics. India is estimated to register highest growth in global nylon 6 & 66 market owing to increasing automotive production by 8% in 2018 from the previous year 2017 and reached 5,174,645 units in 2018. Indonesia is also offering good growth potential for plastic supported by increased automotive production.
Automotive is the largest application owing to increasing stringent government regulation to reduce emission which resulted in increased consumption of plastics to make vehicle lighter and fuel efficient. This is expected to fuel the demand of nylon 6 & 66 in automotive segment.
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Leading companies featured in the Nylon 6 & 66 Market Report 2019-2029 report include AdvanSix Inc., Ashley Polymers Inc., BASF SE, Domo Chemicals, Huntsman Corporation, INVISTA, LANXESS AG, Toray Industries, Inc., Toyobo Co. Ltd., Ube Industries Limited among others. Mergers & acquisitions and joint ventures constitute some of the industry players’ common strategies for reducing product price overall and maintaining extremely competitive conditions. In order to guarantee continued raw material supplies and ease of installation services, many actors in the sector create alliances with raw material providers and third-party installers.
The comprehensive report provides market estimates and forecasts for leading domestic markets across the world for the period from 2019 to 2029. In addition, the report includes dedicated leading companies covering 10 leading nylon 6 & 66 industry producers.
The report on the Nylon 6 & Nylon 66 Market Report 2019-2029 will appreciate anyone who wants to better understand the market in various end use industries. It will be useful for companies that want to better understand the part of the market in which they are already involved or those that want to enter or expand into another regional or technical part of the nylon 6 & nylon 66 industry.
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This post was originally published on Aerospace Industry