Glass Filled Nylon Market by Type (Polyamide 6, Polyamide 66),End Use Industry(Automotive, Electrical & Electronics, Industrial), Manufacturing Process(Injection Molding, Extrusion Molding), Glass Filling and Region Global Forecast to 2024
The glass filled nylon market is projected to register a CAGR of 5.8%, in terms of value, between 2019 and 2024.
The glass filled nylon market size is estimated to grow from USD 8.2 billion in 2019 to USD 10.8 billion by 2024, at a CAGR of 5.8% between 2019 and 2024. Glass filled nylon is used in different industries such as automotive, industrial, and electrical & electronics due to their superior properties such as high dimensional stability, high creep resistance, high strength, rigidity, and chemical resistance. However, the shortage of polyamide 66 can hinder the growth of the glass filled nylon market.
‘Polyamide 6 based glass filled nylon is projected to register a higher CAGR, in terms of value and volume, between 2019 and 2024.’
Polyamide 6 is manufactured by a continuous process, preferably hydrolytic ring opening polymerization of caprolactam, which is made up of six carbons at 482 °F to 518 °F The 6 stands for the number of carbon atoms in a single amino residue, indicating repeated units. It is a semi-crystalline polyamide that has high tensile strength and elasticity. It also has a strong inter-chain bond of amide group polarity and hence exhibits superior properties such as rigidity, thermal resistance, and toughness. Glass filling in polyamide 6 further enhances the properties of polyamide 6. These factors make glass filled polyamide 6 widely used in end-use industries such as automotive, electrical & electronics, and industrial.
The automotive end-use industry segment is expected to register the highest CAGR between 2019 and 2024.
The automotive end-use industry is one of the prime consumers of glass filled nylon, globally, and is expected to witness the fastest growth during the forecast period. The use of glass filled nylon in the automotive industry dates back to 1950. Glass filled nylon is primarily used in the automotive industry for weight reduction measure. In new generation vehicles, the strength per unit weight is very critical and hence glass filled nylon is used in applications such as automotive engine covers, parts inside the engine compartment, and under the bonnet of cars.
The glass filled nylon market in APAC is projected to register the highest CAGR, in terms of value and volume, between 2019 and 2024.
The glass filled market in APAC is projected to register the highest CAGR, in terms of value and volume, during the forecast period. This growth can be attributed to the increasing demand for glass filled nylon from the automotive, industrial, and electrical & electronics end-use industries. The booming electrical & electronics and construction industries are also responsible for the growth of the glass filled nylon market in the region. China is one of the key consumers of glass filled nylon in APAC.
Breakdown of profiles of primary interviews for the report on the glass filled nylon market:
By Company Type: Tier 1 - 37%, Tier 2 - 42%, and Tier 3 - 21%
By Designation: C level - 30%, Director level - 25%, and Others - 45%
By Region: North America - 20%, Europe - 27%, APAC -40%, MEA - 7%, and Latin America - 6%
The glass filled nylon market comprises major manufacturers such as BASF SE (Germany), Asahi Kasei Corporation (Japan), Lanxess (Germany), DowDuPont Inc. (US), Royal DSM N.V. (Netherlands), Ensinger GmbH (Germany), Arkema (France), SABIC (Saudi Arabia), Evonik (Germany), and Ascend Performance Materials (US). The study includes an in-depth competitive analysis of these key players in the glass filled nylon market, with their company profiles, recent developments, and key market strategies.
The market study covers the glass filled nylon market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as type, end-use industry, manufacturing process, glass filling, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall glass filled nylon market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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