The global nylon market size was valued at USD 31.09 billion in 2023 and is projected to grow from USD 32.64 billion in 2024 to USD 48.86 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period. This is attributable to the increasing focus on developing innovative products and the growing demand for nylon 66 in the packaging industry across the globe. Fortune Business Insights™, in its latest report, titled, “Nylon Market Size, Share & COVID-19 Impact Analysis, By Type (Nylon 6 {resin & fiber} Nylon 6,6 {resin & fiber}), By Application (Automotive, Electrical & Electronics, Appliances, Film & Coating, Wire & Cable, Consumer, Industrial & Machinery and others), and Regional Forecast, 2025-2032,”.
Nylon is a type of polymer that is produced by the reaction between carbon-based chemicals that are usually found in petroleum and coal under high pressure. It is widely adopted to manufacture plastic machine parts and electronics owing to its high tensile strength, non-conductivity, heat resistance, and low-cost properties. Additionally, it is used for manufacturing bolts, screws, nuts, and washers in the automotive industry across the globe.
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By Type Analysis: By type, the market is segregated into Nylon 6 (resin, fiber) and Nylon 6,6 (resin, fiber). Nylon 6 fibers dominate the global market due to their strong adoption in the textile industry. Due to its high mechanical strength, toughness, and wear resistance, it is used to manufacture webbing products such as dog leashes, safety belts, luggage straps, sports goods, and others.
By Application Analysis: By application, the market is categorized into automotive, electrical & electronics, appliances, film & coatings, wire & cables, consumer, industrial & machinery, and others. The automotive segment accounted for the largest nylon market share in 2023. Due to the high usability of the resin and fiber in automobiles in the form of tire cord, airbags, and injection molded components, results in high revenue generation from the automotive segment. The demand for plastics to optimize fuel efficiency and reduce vehicle weight is continuously increasing in the automotive industry. With the increasing sales of electric vehicles and the establishment of proper electric vehicle infrastructure, engineering plastics are expected to play a major role.