Increasing Use of Glass-Filled Nylon in Automotive Industry Likely to Transform the Overall Market, Evaluates Fact.MR
The Global Glass Filled Nylon Market To Witness Growth At 6.9% CAGR During 2022-2032
SEOUL, SOUTH KOREA, May 26, 2022 /EINPresswire.com/ — Glass-filled Nylon Polyamide 6 has higher penetration across vivid appliances, automotive and other end-use industries owing to its robust properties. Its properties such as tensile strength and stiffness, lower thermal expansion rate, increased nearly 50% hardness, augmented stability in extreme temperatures and more, have boosted the overall market growth in the last half-decade.
The wide use case in the automotive industry in making vehicles lightweight and strong has boosted the demand for glass-filled nylon polyamide 66 in the last half-decade. Continuous increasing applications in different industries such 3D printing, consumer appliances, aerospace etc. is likely to provide significant boost to the growth of market.
However, the global glass-filled nylon market is anticipated to grow by 2.3X and touch the valuation of USD 18.3 billion by the end of 2032. The increasing nylon production globally, for instance the nylon production was around 3m in 1980 which reached at 4.4m in 2020, is expected to provide an absolute dollar opportunity of US$ 8.8 billion during the forecast. period.
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The global glass-filled nylon market is anticipated to move ahead at a 6.9% CAGR. North American glass-filled nylon market is the largest market shareholder which has acquired more than one-third market share. Increased applications of glass-filled nylon in industrial equipment, appliances, speedometer gears etc. has increased the consumption of glass-filled nylon. In turn, it is projected to grow at 7.1% CAGR and gain 75 BPS to provide an absolute dollar opportunity of more than US$ 2.9 billion.
Based on the segmental analysis, polyamide 6 is the largest glass-filled nylon type which is acquiring nearly half of the global market. It is anticipated to gain 197 BPS with a growth of 7.3% CAGR. It is widely used in applications where lubricity, toughness, and wear are very important, for instance, gear wheels.
Further, glass-filled nylons are finding their use in almost every industry owing to which it is becoming a lucrative market. It is expected to provide tremendous growth opportunities to the manufacturers as well as consumers in developing innovative products.
Key Takeaways from Study
The glass-filled nylon market is anticipated to add 2.3X value by 2032
Polyamide 6 segments under glass-filled nylon type are capturing nearly half of the global market share, and are likely to generate an absolute dollar opportunity of around US$ 4.2 Bn over 2022-2032
Among the end-use industries, automotive industry has been the leading segment with 7.6% CAGR
North America glass-filled nylon market set to dominate market, wherein United States is set to acquire more than 90% market share in 2020
The Indian glass-filled nylon market is anticipated to dominated South Asia and Oceania region with more than two-fifth market share in 2022
“Continuous R&D for advancement of Glass-filled Nylon Polyamide 66 , set to provide competitive advantage as well as copious growth opportunities over the forecast years,” says a Fact.MR analyst.
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Market players are rapidly spending on R&D to develop new products to cope up with end-use industry’s innovations and provide new applications of glass-filled nylon. For instance, DuPont has launched engine mount bracket made of glass-filled nylon which is replacing cast aluminum incumbent material. Companies are also focusing on building long-term relations with end-use industries to have continuous demand. These developments will drive the sales of the glass-filled nylon in the long-term.
Segmentation of Glass-filled Nylon Industry Research
Glass-filled Nylon Market by Type :
Glass-Filled Polyamide 6
Glass-Filled Polyamide 66
Glass-filled Nylon Market by End Use :
Electrical & Electronics
Other End Uses
Glass-filled Nylon Market by Region :
North America Glass-filled Nylon Market
Latin America Glass-filled Nylon Market
Europe Glass-filled Nylon Market
East Asia Glass-filled Nylon Market
South Asia & Oceania Glass-filled Nylon Market
MEA Glass-filled Nylon Market
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global glass-filled nylon market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032. The study divulges essential insights on the market on the basis of by type (polyamide 6, polyamide 66, other types) by end-use (automotive, electrical & electronics, industrial, other end-uses), and across key regions namely (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA)
About the Chemicals Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the chemical industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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