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Oct 5, 2020 10:30 AM ET

Global Nylon 66 Market Set For Rapid Growth, To Reach USD 5.70 Billion By 2024

iCrowd Newswire - Oct 5, 2020

Zion Market Research has published a new report titled “Nylon 66 Market by Grade (Fiber Grade and Resin Grade) and by Application (Textiles, Industrial/Machinery, Carpets, Automotive, Consumer Goods & Appliances, Carpets, Packaging, Films & Textiles, and Other Applications (Wires & Cables, etc.)): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2024”. According to the report, the global Nylon 66 market was valued at USD 4.63 billion in 2017 and is expected to reach USD 5.70 billion by 2024, growing at a CAGR of 3.0% between 2018 and 2024.

Nylon 66 is widely used and most popular engineering thermoplastic materials. Nylon 66 has excellent mechanical properties apart from being cost-effective. Moreover, the Nylon 66 has the ability to resist high temperatures and hence it is highly preferred in high-temperature applications. It is synthesized by polycondensation of Adipic acid (ADN) and Hexamethylenediamine (HMDA).

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Global Nylon 66 Market

The Nylon 66 market is likely to be driven by increasing product use in the engineering plastics for engine mechanisms and vehicle engines and rising electronic and electrical production over the forecast time period. However, the unavailability of raw materials and rising prices of Nylon 66 might limit the market. Nevertheless, the key players are investing extensively in the market to enhance the production of Nylon 66, which is anticipated to create lucrative opportunities in the Nylon 66 market globally over the estimated timeframe.

The Nylon 66 market is fragmented into grade and application. By grade, the Nylon 66 market is segmented into resin grade and fiber grade. The resin grade held the largest market share in 2017, both in terms of revenue and volume. Resin grade plays an important role in the manufacturing of electronic components and light-weight car engine components. It enhances the performance of glass fibers and helps in the manufacturing of light-weight vehicles. On the basis of application, the Nylon 66 market is segmented into textiles, carpets, industrial/machinery, consumer goods and appliances, automotive, packaging, films and coatings, and others (cables & wires, etc.). The automotive segment accounted for the largest market share in 2017, owing to its properties, such as lightweight and emission reduction.

North America accounted for the largest global Nylon 66 market share in 2017, followed by the Asia Pacific and Europe. The U.S. dominated North America in terms of revenue and volume in 2017 and is also expected to be the dominating country in the forecast time period. The rising demand for high-temperature resistant and lightweight engineering plastics and the increasing use of Nylon 66 in electrical and electronics and automotive applications and the presence of major manufacturers in the country is likely to drive the Nylon 66 market in the U.S. Asia Pacific, North American and European markets are anticipated to expand at the highest speed in the upcoming years. Latin American and the Middle Eastern and African markets are projected to exhibit sluggish growth in the years to come, owing to low economic and industrial growth and lack of manufacturers’ presence in the region.

The key players operating in the global Nylon 66 market are UBE INDUSTRIES, Ltd., BASF SE, Ascend Performance Materials LLC, Ensinger GmbH, LANXESS, RadiciGroup, Asahi Kasei Corporation, Royal DSM, DowDuPont Inc., CELANESE CORPORATION, and EMS-GRIVORY, among others.

This report segments the Nylon 66 market as follows:
Nylon 66 Market: Grade Analysis

Nylon 66 Market: Application Analysis

Nylon 66 Market: Regional Analysis

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Keywords:    Nylon 66 Market

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