The global market report with a focus on the nylon
market predicts steady growth for the market during the forecast period of 2018
to 2023. Market Research Future (MRFR) announced certain estimates in the
report by making an assessment of several factors.
The study reveals that the nylon segment would
substantially rise due to the support from the textile segment. Its cognition
in the sports industry is surging, which increases its market operation scope.
In the automotive industry, as a major component for tire manufacturing, nylon
is getting easy entrance. However, the COVID-19 onslaught may have put some
blocks on the growth path. This is due to the struggle of the automotive and
construction sectors.
Competitive Landscape:
Asahi Kasei Corporation, BASF SE, Evonik Industries
AG, Honeywell International, Inc., UBE Industries Limited, Invista S.A.R.L.
(Koch Industries, Inc.), E.I. Dupont De Nemours & Company, Formosa Plastics
Corp., Solvay SA, Lanxess AG, Royal DSM NV, Quadrant AG, Huntsman Corporation,
Saudi Basic Industries Corp, and Arkema SA., are some of the prominent names
who are involved in aggressive methods to ensure their own strategic position
and boost the market outcome. These companies are strengthening their market
positions by launching plans involving mergers, acquisitions, increasing
funding for research and development to boost innovation, the introduction of
better branding strategies, and various types of collaborations. MRFR listed
these moves to gauge how much the market can benefit from trends and who all
can emerge as trendsetters for the coming days.
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Industry News:
In June 2020, Invista announced that it had started
the construction of a plant in Shanghai that will boost its nylon production by
adding 400,000 tons per year. The company declared that it had already invested
more than USD1 billion for the adiponitrile (ADN) plant at the Shanghai
Chemical Industry Park (SCIP) that will help the company in meeting the rising
demand for the product.
In June 2020, as a countermeasure to curb the
COVID-19 risks, the government made a decision to stop the export of medical
masks, but it will allow the export of masks made of rayons and nylons. It has
also liberalized the process to make sure that exporters gain substantially
from their base market.
In June 2020, Oliver Healthcare Packaging announced
that they had developed a new pouch consisting of new LF-1050N 40ga nylon and
Tyvek 1073B. This could serve as an alternative for pouches made of
thicker-gauge nylons or make with PET/PE.
Segmentation:
The market report on nylon has been studied on the
basis of type and application. These two segments have data that are backed by
charts, graphs, several other scientific approaches that will help in devising
strategies.
By types, the global report on the nylon market has
been segmented into Nylon 6,12; Nylon 6,6; Nylon 6; Nylon 4,6; and Nylon 12.
The nylon 6,6 segment is witnessing notable traction from end user
industries.
By applications, the report on the nylon market has
been segmented by military supply, tire, textile, and household appliances. The
textile segment is witnessing a hike in the intake. For the military supply
segment, the hike in budgetary investment can help bolster the global market.
The global booming of the automotive industry can also trigger substantial
growth for the tire segment.
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Regional Analysis:
Asia Pacific would take charge of the global nylon
market and the regional automotive and textile industries would bolster this
growth. In addition, the rising disposable income in the region can support the
market by backing the expansion of end user industries.
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