The global glass filled nylon market is estimated to cross the USD 13 billion by 2028, at a CAGR of >5.5% during the forecast period from 2021 to 2028. The product's widespread acceptance in industries such as automobile, electrical, aerospace, and construction is propelling market growth. This commodity has gotten a lot of attention in recent years because of the increasing need for automotive weight reduction and reduced fuel consumption. Because of its strong dielectric properties, this component is also used in the electrical industry in addition to the automotive industry. Because of the increased research and development in nylons, it has gained a lot of traction in the aerospace industry, making it more flexible and niche.
The rise is due to the widespread use of Glass-filled nylon in the car industry as various components, resulting in lighter vehicles and lower emissions to the environment. Polymer technological advancements have broadened the product reach of nylon 66, which is expected to drive growth in the Glass-filled nylon industry over the next five years. Because of the demand from the automobile, industrial, and electrical and electronics sectors, the industry is expanding. Glass-filled nylon is in high demand due to its high strength, dimensional flexibility, creep resistance, and chemical resistance. Polyamide 6 is seeing increased demand in products such as engineering plastics, electrical and electronics, and a few other niche applications, which is driving the industry forward.
Due to the availability of low-cost raw materials, labor, and growing purchasing capacity, Asia Pacific dominated the Glass-filled nylon industry. China, the world's largest producer of Glass-filled nylon in the electrical and electronics industry, is also one of the region's top consumers of the material. Increasing automotive and electrical & electronics industry in Southeast Asia, India, China, South Korea, and Japan will further increase market expansion in coming years. Polyamide manufacturers are being enticed to set up manufacturing and distribution facilities in the area by the region's fast development, large untapped demand, and friendly government policies.
Global glass filled nylon market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 to 2019, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global glass filled nylon market have been studied in detail.
The major players operating in the global glass filled nylon market are BASF SE, Lanxess, Asahi Kasei Corporation, Ensinger GmbH, Royal DSM N.V., Dowdupont Inc., Arkema, SABIC, Evonik Industries, and Ascend Performance Materials. Other prominent players operating in this industry are Fukuang International (HK) Limited, Steklonit Jsc, Emco Industrial Plastics, Inc., Nylatech, RTP Company, Akro-Plastic GmbH, Radici Group, Domo Chemicals, EMS Grivory, and Quadrant.
Key Segments of the Global Glass Filled Nylon Market
Type Overview, 2018-2028 (USD Million)
- Polyamide 6
- Polyamide 66
Application Overview, 2018-2028 (USD Million)
- Electrical & Electronics
Manufacturing Process Overview, 2018-2028 (USD Million)
- Injection Molding
- Extrusion Molding
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa