Monday, 1 January 2018

Bionylon Production to Influence Global Nylon 6 and 66 Market Volume

The global nylon 6 & 66 market is projected to reach a valuation above USD 40 billion by 2025, according to a report published by Grand View Research, Inc. Nylon 6 and 66 are polyamides derived by polycondensation of adipic acid and hexamethylenediamine. They are abbreviated as PA-6 and PA-66 respectively. Its major applications are engineering plastics, textiles, automobiles, and electrical & electronic products. Caprolactam and ammonium sulfate are two compounds that are raw feedstocks for the end product.

Nylon 6 & 66 Market

Emphasis on reducing carbon emissions mandated by regulatory agencies has forced automotive manufacturers to adopt nylon 6 and 66 products. These products can improve overall efficiency and reduce weight of automobiles. This is expected to lead to higher production of vehicles in the U.S. and the U.K. The hefty import tax and the Brexit crisis are some of the factors that can be credited to drive global market demand.

BASF, one of the prime players, is expected to acquire Solvay’s polyamide production business by 2018. This acquisition can strengthen the plastic portfolio of the company and expand its reach in construction, transportation, and industrial applications. Textile dye production and increasing demand for bio-polymers that can be cost-beneficial for consumers are other trends that can impact the market. Arkema SA, a French company, is expected to raise the bar by delving into massive production of Rilsan PA 11, a bionylon derive from castor oil.

The worldwide nylon 6 & 66 market is expected to expand due to emphasis on fuel efficient materials like plastics. It is projected to grow at a CAGR above 6% from 2014 to 2025 (forecast period). The utilization of these compounds in various applications can be attributed to high market growth. Fluctuating raw material prices can be the biggest bottleneck of the market. The automotive application segment is expected to exhibit a robust CAGR during the forecast period. Prominent market players include Toray Group, Huntsman Corporation, BASF SE, and DuPont.

In-Depth Research Report On Medium Nylon 6 & 66 Market:

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