New York, NY, Dec. 14, 2018 (GLOBE NEWSWIRE) -- 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).
Browse through 55 Tables & 33 Figures spread over 110 Pages and in-depth TOC on “Global Nylon 66 Market Size & Share 2018 Report: By Industry Type, Growth, Segments, Analysis and Forecast 2024”.
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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.
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North America held the highest share of Nylon 66 market in 2017. It is expected to be the dominating region in the projected years due to the rising presence of electronics and automotive industries in the region. The thriving electronic and automotive industries and the growing use of nylon 66 for the production of interior plastic equipment and component for electric appliances are anticipated to drive this market. In 2017, the U.S held the largest market share in North America and is anticipated to be the dominating country in the future. The high-temperature-resistant feature, growing demand for lightweight engineering plastics for electrical and electronics and automotive applications, and the presence of major players in the region are likely to drive the Nylon 66 market in the U.S.
The Asia Pacific was the second largest Nylon 66 market share in 2017, owing to high demand from both the emerging and developed countries of the region. China was the largest market in 2017 and is estimated to maintain its dominance in the future. Major manufacturers of nylon 66 are expanding their manufacturing facilities in China. INVISTA established its manufacturing plant of Nylon 66 in 2016 in Shanghai Chemical Industry Park (SCIP) in China. Taiwan and India are likely to exhibit a substantial rate of growth during the projected years. Government incentives and availability of skilled labor at lower costs in developing countries are expected to spur this regional Nylon 66 market.
Browse the full "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" Report At https://www.zionmarketresearch.com/report/nylon-66-market
Nylon 66’s supply is anticipated to increase in the second half of 2018 in Europe, as Nylon 66 manufacturers are trying to solve the issues related to the production of caprolactam (Nylon 66’s raw material). Many manufacturers and sellers, including Ascends Performance Materials, have announced an increase in the costs of Nylon 66 fibers and resins in the Asia Pacific, Europe, and North America. Force majeure of various manufacturers and regular increase in the demand for Nylon 66 in Europe are likely to spur the product prices in the upcoming years.
The Middle Eastern and African and Latin American markets are anticipated to exhibit sluggish growth over the projected years in the nylon 66, due to low economic growth and industrial growth and the region’s under-developed automotive and electronic industries.
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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.
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This report segments the Nylon 66 market as follows:
Nylon 66 Market: Grade Analysis
- Fiber Grade
- Resin Grade
Nylon 66 Market: Application Analysis
- Textiles
- Industrial/Machinery
- Carpets
- Automotive
- Consumer Goods & Appliances
- Electrical & Electronics
- Packaging
- Films & Coatings
- Others (Wires & Cables, etc.)
Nylon 66 Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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