29 November 2019
The Nylon 6 Filament Yarn Market Report 2020-2030: Forecasts by Application (Sports Apparels, Fabric, Sports & Adventure Equipment, Travel Accessories, Fishing Nets), and analysis of leading companies operating in this industry.
The global market size of Nylon 6 filament yarn is estimated to exceed USD 26 billion by 2020 and is expected to grow over the forecast period at a CAGR of more than 7.8 percent. Nylon has outstanding stability, allowing nylon-based fabrics to recover after washing their appearance and form. One of the main factors complementing market growth is the expansion of the product's application base in sports apparels and fishing networks. Technological developments in polymer modification and customization enable nylon producers to supply customized products that are expected to stimulate market growth. With the thriving growth of key end-use industries, a healthy growth trajectory is expected to lead the industry.
It is further projected that rising demand for commercial as well as technical textiles would play a pivotal role in market growth. Sport apparels in the U.S. are expected to emerge over the forecast period as the largest and fastest-growing application category. The rapid marketing of sports equipment and appliances and the increasing need for durable equipment are fueling market growth. Nonetheless, high raw material prices and stiff competition from cheaper alternatives over the forecast period are likely to affect consumer demand.
For nylon manufacturers fishing nets are a lucrative application segment Nylon fabrics ' resistance to knotting, enhancing their strength and durability, is a critical factor making them a favored fishing nets material. Furthermore, they are lighter and absorb less water as compared to other materials, which makes them suitable for deep water fishing. Due to their characteristics such as elasticity, high tensile strength, and excellent abrasion resistance, increased preference for replacing metal components with nylon 6 products in crankcase and oil containers is expected to improve their demand in the coming years.
In terms of revenue over the forecast period, Asia Pacific is expected to emerge as both the largest and the fastest growing regional market. The key factors instrumental in the growth of nylon 6 filament yarn market in Asia Pacific region are infrastructural development and improvement of socio-economic structure. Favorable laws, easy labor availability, and various government initiatives allow key players to move their manufacturing units to developing countries like India, Indonesia, and China. Furthermore, abundance in the availability of raw materials and the rapidly increasing population are fueling the demand for nylon 6 filament yarn in this region.
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