Nylon Market Size Forecast with Regional Share 2032
The global nylon market size was valued at USD 31.09 billion in 2023 and is projected to grow from USD 32.64 billion in 2024 to USD 48.86 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period. Polyamide, also known as nylon, is a versatile polymer used in various industries for its wide range of applications. It is produced through the polymerization of caprolactam or adipic acid & hexamethylene diamine. Companies in the industry, such as Invista, are investing in expanding their production capacities to meet the growing demand and enhance their manufacturing processes.Nylon is a type of polymer that is produced by the reaction between carbon-based chemicals that are usually found in petroleum and coal under high pressure. It is widely adopted to manufacture plastic machine parts and electronics owing to its high tensile strength, non-conductivity, heat resistance, and low-cost properties. Additionally, it is used for manufacturing bolts, screws, nuts, and washers in the automotive industry across the globe.
Fortune Business Insights presents this information in their report titled "Global Nylon Market, 2025–2032."
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Segments:
Versatility of Nylon 6 Fibers in Textile Applications Spur’s Market Growth
By type, the market is segmented into Nylon 6 (resin, fiber) and Nylon 6,6 (resin, fiber). Nylon 6 fibers dominate the global market for their strong adoption in the textile industry, offering excellent mechanical strength and wear resistance for various webbing products.
Automotive Sector's Strong Demand for Resins and Fibers Propel Segmental Growth
By application, the market is segregated into automotive, electrical & electronics, appliances, film & coatings, wire & cables, consumer, industrial & machinery, and others.
The automotive segment held the largest nylon market share in 2022, driven by the extensive use of polyamide resin and fibers in various automobile applications such as airbags, injection molded components, and tire cords. From the regional ground, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The research report presents a comprehensive market examination, emphasizing crucial elements, including the competitive environment, distribution channels, and prominent product categories. Furthermore, the report provides valuable observations on market trends and significant industry advancements. Apart from the aforementioned factors, the report encompasses numerous variables that have bolstered market expansion in recent times.
Drivers and Restraints:
Polyamide's Versatility and Performance Drive its Adoption in the Automotive Industry
The automotive industry extensively utilizes polyamide due to its favorable properties such as workability, strength, and toughness. It can be easily molded and extruded to manufacture various auto parts, and its high-temperature and chemical resistance make it suitable for harsh environments. The lightweight nature of polyamide components improves the efficiency of conventional vehicles, which aligns with the growing emphasis on fuel economy and environmental concerns.
However, the nylon market growth may be stifled by stringent regulations aimed at reducing harmful impacts to the environment.
Regional Insights:
Asia Pacific Emerges as Dominant Market Fueled by Automotive and Packaging Industries
Asia Pacific is expected to remain the dominant market for polyamide, driven by the growing demand in automotive and packaging applications, especially in emerging economies such as China and India.
North America, a major producer of polyamide, is primarily driven by the automotive industry, with the U.S. experiencing a significant growth in electric vehicle sales, expected to continue in the projected timeframe.
Competitive Landscape:
Industry Players Expand Production Capacities amidst Changing Geopolitical Dynamics and Trade Policies
The global market is currently facing an oversupply situation due to the abundance of installed capacities, prompting key industry players to expand their production capabilities. However, the market growth is hindered by price volatility, which can be partially mitigated through pricing contracts with customers, and by the impact of changing geopolitical dynamics and trade policies on the supply chain.
List of the Companies Profiled in the Market:
- DuPont (U.S.)
- BASF SE (Germany)
- Lanxess AG (Germany)
- Nylon Corporation of America, Inc. (NYCOA) (U.S.)
- Shenma Industrial (China)
- Ascend (Thailand)
- Domo Chemicals (Belgium)
- Radici Partecipazioni SpA (Italy)
- Invista (U.S.)
- DSM (The Netherlands)
- Formosa Group (Taiwan)
- SINOPEC (China)
- Ube Industries (Japan)
- LIBOLON (Japan)
- ZIG SHENG INDUSTRIAL CO., LTD. (Taiwan)
- Other
Industry Development:
- April 2023: Microwave Chemical and Asahi Kasei together launched a demonstration project for the commercialization of the chemical recycling process for Nylon 66 using microwave technology.
- April 2023: Tire and nylon manufacturing company Kordsa announced to invest USD 50 million for the expansion of its nylon production at its Chattanooga plant. The move is anticipated to enable the company to meet the rising demand from the automotive industry.
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