Albany, NY -- (SBWIRE) -- 04/17/2019 -- Nylon 66 is extensively used engineering thermoplastic materials which are highly adopted in automobile industry. Such materials exhibit superior mechanical properties such as high elasticity, excellent tensile strength, and resistance to abrasion. However, nylon 66 also poses higher temperature resistance property, which makes them to become a preferred material in various high-temperature applications. Such factors are driving the global nylon 66 market. Apart from the automotive industry, nylon 66 is also widely adopted in polyamide, textile, and electronics industry, owing to their outstanding electrical resistance, toughness, and good insulation properties. Such rapid consumption of nylon 66 in various industries also fueling the growth of the global nylon 66 market.
According to experts, the global nylon 66 market is expected to clock value US$6.0 bn by the end of 2026. The growth is prophesized to occur at a promising CAGR of 3.0% during the forecast period from 2018 to 2026. Nylon 66 is replacing the metal parts in automobiles and also helps in preventing damage which is caused by electrical circuits' corrosion. The market is mainly segmented on the basis of application, grade, and region.
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Fastest Adoption of Resin-grade Nylon 66 in Various Industries Fuel Market Growth
From the perspective of grade, the global nylon 66 market is bifurcated into resin grade and fiber grade. Among these two segments, resin grade nylon 66 is expected to showcase fantastic expansion in the next few years, especially during the mentioned forecast period – 2018 to 2026. This is mainly due to the rising electrical, electronics, and automobile industry worldwide. Resin grade nylon 66 is extensively used in manufacturing car interiors and airbags.
In terms of application, the global nylon 66 market is divided into following segments – Industrial, textile, automotive, consumer goods and appliances, electrical and electronics, packaging, films and coatings, carpets, and others (cables and wires, etc.). High demand for sustainable packaging and rising usage of nylon 66 in the production of industrial textile materials, apparels, and fiber yarns are fueling the demand in the global nylon 66 market. Among these applications, the electrical and electronics segment is expected to witness highest proliferation thanks to the inherent flame resistance, outstanding dielectric strength, and outstanding resistance to tracking an electric path properties of nylon 66. However, in high-end markets such as Asia Pacific and North America, the popularity of nylon 66 is expected to continue due to the flourishing automotive industry in these regions.
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Some of the prominent players operating in the global nylon 66 market are UBE INDUSTRIES, LANXESS, Royal DSM, EMS-GRIVORY, and Ensinger.
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