According to a recent research report published by MarkNtel Advisors, the Global Nylon 66 Market is set to register around 3.1% CAGR during 2022-27. The rapidly rising automotive industry globally is the major reason behind the growth of the Global Nylon 66 Market. The automotive sector is the most prominent end-user of Nylon 66, which has high tensile strength & excellent resistance to high temperatures and is well-utilized in manufacturing tire cords.
In addition, more and more people adopting sustainable mobility options is another crucial aspect contributing to the propelling demand for Nylon 66 in the automotive sector for the production of lightweight automobiles & other automotive components to yield enhanced fuel efficiency. Moreover, the surging private ownership of vehicles, especially EVs, is another crucial driver for the flourishing automotive sector, which, in turn, is augmenting the demand for Nylon 66.
Furthermore, owing to characteristics like superior tensile strength and high abrasion resistance & elasticity, Nylon 66 is being used increasingly for manufacturing automotive airbags and also as engineering thermoplastic materials.
On the other hand, due to its exceptional electrical resistance, toughness, and outstanding insulation properties, Nylon 66 is witnessing a notably growing demand in textile and electrical & electronic applications, and thus, fueling the overall growth of the global market, further states the research report, “Global Nylon 66 Market Analysis, 2022.”
Massive Increase in Demand for Resin-Grade Nylon 66 to Boost the Global Market
Nylon 66 resins are undergoing rising demand in the automotive sector for the production of molded parts. The rapidly expanding electronics & electrical industries are also stimulating the sales of Nylon 66 resins globally. Moreover, as these composites help promote a product's toughness and provide superior strengthening, they are being deployed increasingly for packaging applications too.
Furthermore, nylon 66 resins are considered a perfect material for power tools & fibers in textile & carpet applications owing to their rigid properties and excellent chemical & physical resistances to external compounds & fungal attacks, respectively. Hence, these aspects attribute to a more prominent share of Nylon 66 resins compared to fiber, which, in turn, would augment the overall growth of the global market in the years ahead.
With Expanding Automotive Sectors, North America & Asia-Pacific are the frontrunners in the Nylon 66 Market
The mounting inclination of various companies toward including sustainable products in their product offerings, coupled with the growing need of industries like aerospace & defense, automotive, and electrical & electronics for high-temperature resistant engineering & lightweight plastics in the US & Canada, are the prime aspects driving the North America Nylon 66 Market.
On the other hand, the extensive utilization of Nylon 66 for films & coating applications in the packaging sector, substantial investments in obtaining advanced eco-friendly films & coatings for flexible packaging, and the flourishing automotive & packaging sectors across China & India are driving the Asia-Pacific Nylon 66 Market during 2022-27.
The major companies in the Global Nylon 66 Market include Asahi Kasei Corporation, Ascend Performance Materials, BASF SE, Domo Chemicals, DSM, DuPont, Invista, Lanxess AG, LIBOLON, Radici Partecipazioni SpA, The Ensinger Group, and UBE Corporation.
Key Questions Answered in the Research Report: