U.S. Nylon Market Size, Share & COVID-19 Impact Analysis, By Type (Nylon 6 {Resin & Fiber} and Nylon 6,6 {Resin & Fiber}), By Application (Automotive, Electrical & Electronics, Appliances, Film & Coating, Wire & Cables, Consumer, Industrial & Machinery, and Others), and Country Forecast, 2023-2030

The U.S. nylon market size was worth USD 3.58 billion in 2022 and is projected to grow at a CAGR of 3.7% during the forecast period.

Nylon is a synthetic polymeric material manufactured by the polymerization of adipic acid or caprolactam with hexamethylene diamine. It is also known as polyamide and it is colorless, white, and soft. It is a thermoplastic and is usually manufactured in the form of fiber. There are two types of the product, namely nylon 6 and nylon 6,6. Both of these types can be produced in the form of fiber and resin and are used in several applications, including automotive, electrical & electronics, appliances, film & coating, wire & cable, consumer, industrial & machinery, and others. Rising industrialization and increased consumer spending in the major economies of the world has created a vast product demand.

However, the outbreak of the COVID-19 pandemic had a significant negative impact on the market in 2020. Restrictions on movement and disruption of the supply chains resulted in the reduction or closure of manufacturing facilities by many industries, causing decreased demand for the product. However, government initiatives to get the economy back on track are anticipated to drive industrial operations again, creating positive prospects for the U.S. nylon market.

U.S. Nylon Market Trends

Rising Demand for 3D Printing Applications to Present Lucrative Opportunities

Nylon has high flexibility, durability, and excellent malleability, which make it a material suitable for use in 3D printing applications. It has higher chemical resistance, mechanical properties similar to those of ABS, and higher impact resistance than ABS, which drives its demand for industrial component manufacturing. The higher melting point and low coefficient of friction enable the product’s application in the manufacturing of interlocking gears, housing for electronic devices, sporting goods, and automotive parts by 3D printing technology. Therefore, advancements in the 3D printing industry are anticipated to present lucrative opportunities for the U.S. market.

U.S. Nylon Market Growth Factors

Increasing Demand from Automotive Industry to Drive Market Growth

Nylon offers higher toughness, strength, and greater workability, which propels its demand from the automotive industry. It supports both extrusion and molding processes, making it applicable in the manufacturing of different auto parts. Its resistance to chemicals and higher temperatures makes it a material suitable for use in harsh conditions. For instance, nylon 6,6 is widely used for the manufacturing of engine compartments in automotive engines that are exposed to lubricant fluids and higher temperatures. The light weight of polyamide 6 and polyamide 6,6 is the key factor driving its demand in the automotive sector. For instance, it can help in improving the efficiency of conventionally used IC-powered vehicles. Furthermore, the increasing demand for e-vehicles, where the weight of the vehicle plays a crucial role in determining fuel efficiency, is anticipated to drive the U.S. market growth.

RESTRAINING FACTORS

Stringent Environmental Regulations to Limit the Market Growth

Plastic and polymers are major sources of environmental pollution, which mainly includes water, soil, and air pollution. Polyamide is non-biodegradable and remains in the environment for several years. Micro-plastic pollution is emerging as a serious matter of concern for the world.  Further, the manufacturing and processing of polyamide is an energy-intensive process, consuming significant amounts of fuel, resulting in greenhouse gas emissions. The governments of different countries are putting strict environmental regulations in place to control global warming and reduce pollution levels, which may negatively impact the demand for nylon. Moreover, consumers are becoming increasingly aware of the hazardous effects of the production and use of plastic on the environment, which is anticipated to limit the market growth.

U.S. Nylon Market Segmentation Analysis

By Type Analysis

Based on type, the market is segmented into nylon 6 and nylon 6,6.

The nylon 6 segment accounted for the largest U.S. nylon market share in 2022. The largest share held by the segment is attributed to the higher product demand from the textile industry. High strength and wear resistance offered by this type is propelling its demand for the production of safety belts, dog leashes, sport goods, luggage straps, and others.

The nylon 6,6 segment held a considerable share of the market during 2022 and is witnessing a rise in the demand for manufacturing automotive components and housings of electronic appliances. The rising automotive industry in the country will drive the segment growth.

By Application Analysis

By application, this market is segmented into consumer, automotive, wire & cable, electrical & electronics, appliances, industrial & machinery, film & coating, and others.

The automotive segment held the largest share in the market in 2022 and is anticipated to grow at a significant growth rate in the near future. The largest share held by the segment can be attributed to its widening demand for the manufacturing of automotive components, including engine compartments and functional interlocking gears.

Advancements in the 3D printing industry are anticipated to be a key factor driving the product demand from different applications, including automobiles, electrical and electronics, sport goods, and others.

Rising industrialization in different regions across the world coupled with increasing consumer expenditure are driving the demand of the nylon for appliances, and industrial & machinery applications.

List of Key Companies in U.S. Nylon Market

Considering the competitive landscape, the U.S. market is moderately fragmented, with the presence of significant number of established and emerging companies. Key players include DuPont, BASF SE, and Lanxess. Prominent players in the market are focusing on the expansion of their manufacturing capabilities and securing supply agreements with end-users.

LIST OF KEY COMPANIES PROFILED:

• DuPont (U.S.)


• BASF SE (Germany)


• Lanxess AG (Germany)


• Nylon Corporation of America, Inc. (U.S.)


• Shenma Industrial Co., Ltd. (China)


• Ascend (U.S.)


• Domo Chemicals (Germany)


• Radici Partecipazioni SpA (Italy)


• Invista (U.S.)


• DSM (Netherlands)


• Formosa Group (Taiwan)


• SINOPEC (China)


• Ube Industries (Japan)


• LIBOLON (Taiwan)


• ZIG SHENG INDUSTRIAL CO., LTD (Taiwan)

KEY INDUSTRY DEVELOPMENTS:

• April 2023: Kordsa, a nylon tyre manufacturing company, announced its plan to invest USD 50 million in the expansion of its nylon production facility at the Chattanooga plant. The expansion of the production facility is anticipated to enable the company to cater to the rising demand from the automotive industry.


• January 2022: Invista and China Pingmei Shenma Group announced that they signed an agreement to establish a strategic relationship. This agreement included the provision for a five-year plan for the purchase and sale of adipic acid and adiponitrile and the license of key technologies for polyamide manufacturing.

REPORT COVERAGE

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The study report thoroughly examines key factors such as leading companies, applications, and products. It also provides the market trends and highlights significant industry advancements. The study includes different variables that have contributed to the market growth in recent years. It examines the industry's newest market dynamics and opportunities, as well as historical data and revenue growth estimates at the country level.

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