TOPIC:NEWS Nylon-6 market to reach $26 billion by 2032
The global nylon-6 market is expected to witness steady growth at a CAGR of 5.9 per cent over the next decade, reaching a valuation of $26 billion by 2032. This growth is attributed to several factors, including:
Environmental concerns: Growing focus on sustainability is making nylon-6 a more attractive option due to its potential for use in eco-friendly applications.
Emerging textile market: The booming textile industry in developing regions is creating a significant demand for nylon-6.
3D printing: The increasing use of nylon-6 (PA 6 and PA 66) in 3D printing systems is fueling market expansion.
Nylon-6 is prized for its exceptional properties like high resistance to pressure, heat, and corrosion. Additionally, it offers excellent flow properties, moldability, and chemical resistance, making it a versatile material for various applications.
One of its key strengths is its suitability for fused filament fabrication (FFF) in 3D printing, positioning it as a promising material for future markets. Globally, nylon-6 accounts for roughly 60 per cent of all polyamide production.
Key applications driving growth
Automotive: Nylon-6's lightweight properties contribute to fuel efficiency and emission reduction in vehicles.
Packaging: The demand for flexible packaging with extended shelf life, particularly in the food industry, is driving the use of nylon-6 films and coatings.
Electronics & electrical: Nylon-6's high dielectric resistance makes it the preferred polyamide for applications involving thermal and mechanical stress.
Other industries: Nylon-6 finds applications in various sectors like textiles, wires & cables, and musical instruments.
Market challenges
While nylon-6 offers numerous advantages, its tendency to shrink in molded sections can limit its use in certain applications. The global market is fragmented, with regional and local players competing alongside established companies. Mergers and acquisitions are expected to be a key strategy for gaining a competitive edge.
North America is projected to remain the dominant region in the nylon-6 market, driven by its strong automotive, aerospace, and manufacturing sectors. FMI predicts this region to hold a 23.8 per cent share of the global market by 2022.
