Global Nylon 66 Market to Reach Around US$ 6.0 Bn by 2026; Increase in Utilization of Nylon 66 as an Engineering Plastic Compound to Propel Market: Transparency Market Research

ALBANY, New York, July 2, 2018 /PRNewswire/ --

Transparency Market Research (TMR) has published a new report titled 'Nylon 66 Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026. According to the report, the global Nylon 66 market is projected to expand at a CAGR of 3.0% from 2018 to 2026 and reach more than 4.0 million tons, in terms of volume, by 2026. The global Nylon 66 market is driven by growth of automotive and electronics industries. In terms of volume, the Nylon 66 market in North America is estimated to expand at a CAGR of 2.8% during the forecast period, due to presence of a large number of manufacturers of polyamide resins in the region. Among grades, the resin grade segment accounted for a significant share of the global Nylon 66 market in 2017.

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High demand for resin-grade Nylon 66 in electrical & electronics (E&E) industry drives the market 

Based on grade, the Nylon 66 market has been divided into fiber grade and resin grade. Nylon 66 is extensively used for the manufacture of electrical and electronic components. It has high strength and rigidity, excellent resistance to chemicals, inherent flame resistance, and excellent resistance to tracking an electric path, excellent dielectric strength, and volume/surface resistivity. This makes it an ideal insulating material with superior thermal endurance for use in high-temperature applications. Resin-grade Nylon 66 products are used in engineering plastics for car interiors and engine components. Nylon 66 fiber yarns are employed for car interiors and airbags.

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Automotive application segment to dominate the global Nylon 66 market 

In terms of application, the Nylon 66 market has been segregated into textiles, industrial, carpets, automotive, consumer goods & appliances, electrical & electronics, packaging, films & coatings, and others. The automotive segment holds a major share of the global Nylon 66 market. This trend is likely to continue during the forecast period, due to weight savings to reduce emissions and applicability of Nylon 66 near supercharged IC engines. Nylon 66 has mechanical properties such as good wear resistance, high stiffness-to-strength ratio, good weldability, and high toughness. This makes the material a preferred choice for automotive applications. Advanced and tailor-made engineered Nylon 66 resins with enhanced performance can be used as a replacement for metallic and other materials. For example, Ultramade Endure, a glass fiber-reinforced Nylon 66 developed and manufactured by BASF SE, is such a resin. It has high-temperature resistance. It can resist continuous thermal loads of up to 240°C. On the other hand, usage of Nylon 66 for the manufacture of specialty polymers is increasing due to rise in the demand for high-temperature applications by replacing the traditional plastics such as PVC products. This is expected to boost the demand for Nylon 66 for engineering plastics in the near future. The electrical & electronics (E&E) segment holds a considerable share of the global Nylon 66 market. Nylon 66 resins are used to manufacture switchgears, connectors, and electronic products, as these are flame-retardant and halogen-free resins.

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Price trends of Nylon 66 

Presently, Nylon 66 manufacturers in Asia Pacific enjoy high selling prices due to rising costs of feedstock material. Major players are expanding their production capacities to gain market share. In 2016, INVISTA established its Nylon 66 plant at Shanghai Chemical Industry Park (SCIP) in China to cater to the risen demand for Nylon 66 for production of durable goods. This, in turn, is estimated to drive the market in China in the near future. In Europe, supply of Nylon 66 is expected to improve in the second quarter of 2018, as players are resolving the issue of upstream production of caprolactam (a raw material for Nylon 66). Several sellers and manufacturers such as Ascends Performance Materials have announced rise in prices of Nylon 66 resins and fibers in North America, Asia Pacific, and Europe. Due to force majeure of several manufacturers and continuing tightness in the demand for Nylon 66 in Europe, further rise in prices is anticipated in the near future.

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North America to dominate the global market during the forecast period 

Geographically, the global Nylon 66 market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to hold a dominant share of the global market during the forecast period, owing to growth of automotive and electronics industries in the region. This is increasing the usage of Nylon 66 for the manufacture of lightweight interior plastic components of cars and electric appliances. The Nylon 66market in Asia Pacific is anticipated to expand at a significant growth rate from 2018 to 2016, due to China's plans to increase its Nylon 66 production. Growth of textile and industrial sectors in China is driving the Nylon 66 market in Asia Pacific. Demand for Nylon 66 is high in Europe, due to presence of a large number of automobile manufactures in the region.

Highly consolidated market with presence of a few major players 

The report comprises profiles of major companies operating in the global Nylon 66 market. Key players operating in this market are BASF SE, UBE INDUSTRIES, Ltd., Ascend Performance Materials, LANXESS, Ensinger, RadiciGroup, Royal DSM, Asahi Kasei Corporation, DowDuPont, EMS-GRIVORY, and CELANESE CORPORATION. In September 2017, BASF SE agreed to buy the polyamides business division of Solvay SA for US$ 1.90 Bn. BASF SE plans to close this transaction by the third quarter of 2018.

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Global Nylon 66 Market, by Grade [Revenue: US$ Mn; Volume (Kilo Tons); 2017-2026]

• Fiber Grade
• Resin Grade

Global Nylon 66 Market, by Application [Revenue (US$ Mn); Volume (Kilo Tons); 2017-2026]

• Textiles
• Industrial/Machinery
• Carpets
• Automotive
• Consumer Goods & Appliances
• Electrical & Electronics
• Packaging
• Films & Coatings
• Others (Wires & Cables, etc.)

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