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BENGALURU, India , Jan. 3, 2022 /PRNewswire/ -- The Nylon Market is Segmented by Type (Nylon 6, Nylon 12), by Application (Engineering Applications, PV Industry, Electronics & Electrical, Automotive, Packaging): Global Opportunity Analysis and Industry Forecast, 2021–2027.  It is published in Valuates Reports under the Chemicals Industry Category.

The global Nylon market size is projected to reach USD 43140 Million by 2027, from USD 30760 Million in 2020, at a CAGR of 4.9% during 2021-2027.

Major factors driving the growth of the Nylon market are:

The Nylon market is predicted to increase due to increasing end-user applications in industries such as Engineering Applications, PV Industry, Automotive, Electronics & Electrical, and Packaging.

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TRENDS INFLUENCING THE GROWTH OF THE NYLON MARKET:

The nylon market is likely to be driven by the growing use of nylon in the automobile industry. Nylon composites are utilized to improve the environmental sustainability of vehicle parts while also reducing their weight. Hydraulic clutch lines, headlight bezels, automobile cooling systems, air intake manifolds, and airbag compartments are all made from composites. Wheel covers, fuel caps, tailgate handles, doors, front-end grilles, and exterior mirrors are all examples of exterior items that utilize them.

Nylon is a strong, stiff engineering material with outstanding bearing and wear properties. Nylon is frequently used to replace metal bearings and bushings, eliminating the need for external lubrication. Reduced part weight, reduced operating noise, and reduced mating part wear are among the other benefits. This in turn is expected to fuel the growth of the Nylon market.

The growing usage of nylon in electronics and electronics is likely to boost the nylon market. Nylon (nylon 6) is a versatile material that is frequently utilized in mechanical construction and maintenance. This is owing to its ideal mix of mechanical strength, stiffness, and mechanical damping qualities, as well as its excellent electrical insulating capabilities. Circuit insulation boards, Switchgear Rotor slot wedges, Gears, Wear strips & Chain guards, Machine guards, Seals, Electronic test equipment, Replacement components, Jigs & Fixtures are just a few of the applications where nylon 6 is employed.

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Based on application, the automobile application is expected to be the most lucrative. Due to reasons such as outstanding mechanical qualities, wear resistance, and the growing desire for lightweight vehicles to increase fuel efficiency, nylon composites are predicted to boost demand in the automotive industry. Because of the benefits received from the product, including decreased weight and better design freedom when compared to traditional metals, it has been widely employed in car engine compartments to replace steel parts.

Asia-pacific is expected to be the most lucrative during the forecast period. A primary driver for market expansion is the availability of low-cost raw materials and labor, as well as rising consumer spending power in the region. Global corporations are flocking to APAC to build up manufacturing and distribution facilities, boosting the regional market.

Based on type, Nylon 6 is expected to be the most lucrative market.

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