Global Glass Filled Nylon Market driven by the growing automobile, electrical & electronics industry and their superior properties.
Published | September 2019
According to BlueWeave Consulting, the Global Glass-Filled Nylon Market is projected to exhibit significant growth during 2019-2025. Owing to their preferred properties like high strength, dimensional stability, high creep resistance, and chemical resistance. The growth attributed to augmented usage of these products in various industries such as automobile industry, electrical & electronics, industrial among others. Increasing global automobile production as different components promoting reduced vehicle weights and fewer emissions to the atmosphere is projected to favor the growth. Growth of output can mainly attribute to a rapid rise in the China market, as well as the consistent increase of the European automotive industry.
In terms of value and volume, the Asia Pacific is the largest region for the glass-filled nylon market. China is one of the notable consumers of glass-filled nylon in the APAC region. Glass-filled nylon is progressively replacing metal parts in automobiles due to its suitable properties of high tensile strength, high elasticity, and excellent resistance to abrasion. Electrical insulation, corrosion resistance, and toughness make nylon a reliable choice for high load parts in electrical applications as insulators, switch housings and the ubiquitous cable ties. Power tool housings is another significant application. These factors are projected to favor the growth of the global glass-filled nylon market.
Automotive Industry is projected to be the most lucrative segment of the global glass-filled nylon market during the forecast period
In terms of end-user industry, the automotive industry accounted for the largest market share in 2018 and is projected to dominate the global glass-filled nylon market throughout the forecast period. Nylon mixtures are expected to drive demand in the automotive industry owing to factors like excellent mechanical properties, wear resistance, and growing need for lightweight vehicles to improve fuel efficiency. The automobile is a highly concentrated industry. In recent years, the automobile industry has observed healthy growth, especially from the Asia Pacific. Due to the ease of mass production as well as ease in molding it is considered as a fast replacing metal parts in the automotive industry.
The Asia Pacific accounts for the lion’s share of the global glass filled nylon market during the forecast period
Geographically, the glass filled nylon market is analyzed across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific is the leading region during the forecast timeline. The regional growth was primarily driven by positive growth in the industries such as the automotive and electronics industry. Infrastructure development and improving socio-economic trends are some of the significant factors contributing to the growth. The growing electrical & electronics and industrial sectors are also strengthening the glass filled nylon market. Favorable regulations, availability of workforce, and government initiatives to provide attractive FDI regulations have resulted in a shift of manufacturing bases of significant players to regions like China, India, and Indonesia.
Companies such as BASF SE, Asahi Kasei Corporation, Lanxess, DowDuPont Inc., Royal DSM N.V., Ensinger GmbH, Arkema, SABIC, Evonik, Ascend Performance Materials, Fukuang International (HK) Limited, Steklonit Jsc, Emco Industrial Plastics, Inc., Nylatech, RTP Company, Akro-Plastic GmbH, Radici Group, Domo Chemicals, EMS Grivory, and Quadrant are the leading players of glass filled nylon market across the globe.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of global glass filled nylon market size & forecast. The report promises to provide state-of-the-art technology of glass filled nylon production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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