The Impact Modifier Nylon Resin Market is one of the most important industries in the global economy. It is used in a variety of applications, ranging from automotive and industrial to electronics and electrical. In this article, we will explore the different types of nylon resin available, as well as their various applications within these industries.
Driving factors of the Impact Modifier Nylon Resin Market:
Several factors are driving the Impact Modifier Nylon Resin market some of them are :
- Increase in demand for lightweight and recyclable materials: Nylon resins are lightweight and can be recycled. This has increased the demand for nylon resins from the automotive and other industries which are looking to reduce the weight of their products while also making them more eco-friendly.
- Rising demand in Asia Pacific: The growing population in the region coupled with increasing disposable income has resulted in a rise in the consumption of nylon resins in Asian countries like China, India, and others. Additionally, government initiatives to promote “green” technology are further driving the growth of this market.
- The growing trend towards the use of bio-based materials: Natural sources such as plant oils are being used to manufacture bio-based impact modifier nylon resin. This growing trend towards using environmentally friendly materials is expected to boost the growth of this market.
Advantages of the Impact Modifier Nylon Resin market
There are various advantages of the Impact Modifier Nylon Resin market some of which are mentioned below:
1. Excellent weather ability: The Impact Modifier Nylon Resin provides excellent weather ability and UV resistance, which makes them a perfect choice for outdoor applications.
2. High tensile strength: The Impact Modifier Nylon Resin has a high tensile strength which allows for higher resistance to wear and tear, thus making them ideal for automotive parts and other industrial components.
3. Low cost: The Impact Modifier Nylon Resin market is relatively cheaper compared to other materials such as polypropylene or polyethylene, making it an ideal choice for various applications where cost is a major factor.
4. Environmentally friendly: The Impact Modifier Nylon Resin is a sustainable material that can be recycled and reused, thereby reducing its environmental impact.
Market size and value of the Impact Modifier Nylon Resin market from 2021 to 2031
The Global Impact Modifier Nylon Resin market is projected to grow at a CAGR of 5.3% during the forecast period 2021-2031. The market was valued at US$ 578.9 million in 2020, and it is expected to reach US$ 845.3 million by the end of 2031.
The growth of the Impact Modifier Nylon Resin market is largely driven by its increasing use in various applications in different industries such as automotive, electronics, construction, packaging, and many more. The growing demand for products with enhanced physical properties such as toughness and flexibility has significantly contributed to the growth of the Impact Modifier Nylon Resin market. Additionally, increasing demand from the automotive industry for lightweight components with improved mechanical properties and durability is also driving the market for impact-modified nylon resin.
Challenges faced by the Impact Modifier Nylon Resin market/ Restraining factors of the Impact Modifier Nylon Resin market
Some restraining factors of the Impact Modifier Nylon Resin market are :
1. High cost: Nylon resins are expensive compared to other plastics, due to their complex manufacturing process, which is a major factor restraining the growth of the nylon resin market.
2. Stringent regulations: Regulations regarding the use of plastic materials in various applications pose a challenge for nylon resin manufacturers as they have to meet these standards to provide quality products.
3. Environmental concerns: The high amount of energy required for the production and disposal of nylon resins leads to environmental concerns, which hampers the growth of the market.
Key Market Players of the Impact Modifier Nylon Resin market
Some key players/Manufacturers/vendors of the market are : BASF SE, Mitsubishi Chemical Corporation,TPRC- The Polymer Research Corporation, Teknor Apex Company, Nexeo Solutions, Inc.
Based on types Impact Modifier Nylon Resin market has been divided into parts such as
2)Nylon 66 and others
Based on applications Impact Modifier Nylon Resin market has been divided into parts such as
2)Electrical & Electronics
4)Building & Construction
Based on regions, the Impact Modifier Nylon Resin market has been divided into parts such as North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of market share, North America and Europe are leading in this segment due to the high concentration of automotive industries in these regions. Asia Pacific and Latin America are expected to witness rapid growth in upcoming years due to increasing demand from various end-use industries in these regions.
COVID-19 impact and market status of the Impact Modifier Nylon Resin market
COVID-19 had a great impact on the market of Impact Modifier Nylon Resin. Due to the pandemic, there was a decrease in demand and consequently, the price of nylon resins dropped. The impact of the pandemic was felt in the entire supply chain, including raw material suppliers, producers, distributors, and end-users. This affected the market growth of Impact Modifier Nylon Resin. On top of that, increasing environmental concerns have pushed companies to look for more sustainable solutions.
Despite this, Impact Modifier Nylon Resin still has a significant market share due to its unique properties like good impact strength and high-temperature resistance. It is used in various applications such as automotive components, electrical and electronic parts, medical devices, and industrial processing equipment.
The future outlook of Impact Modifier Nylon Resin is expected to remain positive due to its growing application potential in new industries such as packaging, construction, and aerospace engineering sector. The increasing demand for renewable materials will also support the growth of the Impact Modifier Nylon Resin market over the forecast period 2021-2027.
Recent development in the Impact Modifier Nylon Resin market from 2019 to 2022
In 2019 January, the introduction of nylon resin-based impact modifier technology was announced by Kraton Performance Polymers. This development enables the production of rigid, flexible, and semi-rigid formulations with superior impact performance. Also, in 2019 June, a new type of nylon resin-based impact modifier was introduced by Arkema which offers a balance between rigidity, flexibility, and strength.
In 2020 January, Evonik Industries AG launched its new generation of nylon resin-based impact modifiers for use in automotive parts to enhance their durability and strength.
In 2021 May, Dupont announced the launch of their latest generation of nylon resin-based impact modifiers that can be used for applications such as automotive components and industrial parts requiring greater durability and strength.
In 2022 April, LG Chemical introduced its new range of nylon resin-based impact modifiers that are designed to improve the toughness and strength of plastic products while also providing increased surface protection against UV light exposure.
Impact Modifier Nylon Resin Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||US$ 845.3 million|
|Growth Rate||CAGR of 5.3 % during 2021-2030|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||BASF SE, Mitsubishi Chemical Corporation,TPRC- The Polymer Research Corporation, Teknor Apex Company, Nexeo Solutions, Inc.|
Key Segments of the Impact Modifier Nylon Resin Market
Type Overview, 2021-2031 (USD Billion)
• Nylon 6
• Nylon 66
Application Overview, 2021-2031 (USD Billion)
• Automobile Industry
• Industrial Applications
• and Electrical Industry
• Consumer Products
Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
• Middle East and South Africa