Strength, toughness, and workability are some of the benefits that can increase the applications of nylon. There has been a rise in the product applications in various industries owing to its versatile advantages and nature. Nylon, also known as polyamide (PA), is a printable thermoplastic that is silk-like, which is made of polyamides. It is one of the highly versatile polymeric materials used in various industries, owing to its variegated applications.
Surge in investments for expansion of the oil & gas sector and advancements in the chemical industry create a lucrative scenario in the market. Polyamide fiber is used to make airbags in automobiles and volleyball nets, which is surging the demand for the product. They are also being used in 3D printing, owing to their durability and flexibility. Their high mechanical strength and toughness make them an eligible choice for manufacturing of safety belts, dog leashes, sports goods, luggage straps, and other products.
There is increasing use of such films for packaging of sauces, cheeses, dairy products, and microwavable products. They are widely preferred owing to their flexibility and non-reactivity. They can be easily processed at low and high temperatures. There is a rise in product demand in various industries such as in household, personal care, and pharmaceuticals. Such factors are responsible for drawing traction in the demand. The growth of the market is attributed to speedy increase in demand and production of nylon in countries such as China and India.
According to Fortune Business Insights, the global instantgenuines market size was valued at USD 22.08 billion in 2021. The market is expected to reach a valuation of USD 30.25 billion by 2029, exhibiting a CAGR of 4.1% over the forecast period.
The market has following leading players:
- BASF SE
- Lanxess AG
- Nylon Corporation of America, Inc.
- Shenma Industrial Co., Ltd.
- Domo Chemicals
- Radici Partecipazioni SpA
- Ube Industries
- Formosa Group
- ZIG SHENG INDUSTRIAL CO. LTD.
The key players have been focusing on effectively expanding their production facilities to boost revenue from sales. Primary players have been expanding their logistics to increase their capabilities. INVISTA, Ube Industries, and Ascend are some of the leading nylon companies. The improvement and expansion of production facilities are aimed to serve more and more end-user industries. In July 2022, Invista announced that it will be investing in its production plant in South Carolina, U.S. The investment will change the polyamide production process and logistics.
Demand for Molding and Extrusion Process in the Automotive Industry
Nylon is used in the automotive industry owing to its high strength, toughness, and workability. The polymer is used in extrusion and molding processes for manufacturing a variety of auto parts. Properties, such as resistance to high temperature and chemical resistance, have made it a preferred choice for severe environments. Auto parts get exposed to extreme temperatures and fluids and PA 6 & PA 6,6 parts are lighter than metallic components. The automotive industry in Asia Pacific witnessed growth owing to the rise in demand for automobiles. Advanced engineering materials are likely to be used widely for production of auto parts owing to its properties.
Shift to Electric Vehicles to Expand Product Portfolio
There has been a paradigm shift toward electric vehicles in the automotive sector. Key automakers, such as General Motors, Toyota, Volkswagen, Ford, and Tata Motors, have been shifting and expanding their product portfolio into electric vehicles. It requires a high power-weight-ratio, one of the key challenges for electric vehicles. Nylon is used in engine components such as crankcases, fuse boxes, timing belts, wire harness connectors, cylinder head covers, and bushings.
Pandemic led to Colossal Decline of the Automotive Industry
The COVID-19 pandemic led to the shutdown of the automotive industry. PA 6 and PA 6,6 have been significantly used in the automotive industry. The outbreak of the pandemic affected more than 250 manufacturing facilities. There was a double-digit decline in 2020 compared to 2019. Recovery of the market is attributed to the rising demand from countries, such as China and the U.S., but recovery of the market is still low.
New Usage of the Product in 3D Printing Owing to High Durability and Flexibility
One of the rising uses of the product is in 3D printing, owing to its high durability and flexibility, which make it an exceptional choice for 3D printing. Its malleability makes it a tougher choice instead of other thermoplastics such as ABS and PLA. This is attributed to the durability and flexibility of polyamide that it can be used in 3D printing. Low coefficient of friction and high melting point make them ideal for 3D printing.