A Transparency Market research report states that the competition in the global nylon 66 market has become stiff in the past few years. The development comes in the backdrop of expanding applications of the product. The higher heating temperature of the material makes it a worthy replacement for existing materials used in automotive and electricals.
The global nylon 66 market is a consolidated trade arena with very few prominent players. Some of them include Asahi Kasei Corporation, ANXESS, BASF SE and DowDuPont. Most players are keen on establishing manufacturing plants in new regions to expand their global footprint.
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The global nylon 66 market is expected to grow at a formidable CAGR of 3% during the forecast period – 2018 to 2026. According to analysts, the global nylon 66 market is expected to attain an overall value of US$6bn by the end of 2026.
Based on segments, the application segment is predicted to hold the highest share in the global nylon 66 market. The expanding application in the automotive and electronics industry, will spearhead growth in the global nylon 66 market.
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In terms of geography, North America is projected to remain dominant in the global nylon 66 market. Again, the flourishing automotive industry and surmounting demand for electronics will drive demand for the product here.
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The consistency in demand is expected to maintain momentum in the global nylon 66 market. Furthermore, players in the market are gradually increasing their production capacity to gain dominance in the market and capitalize on the rise in prices trend. Meanwhile, attempt to identify to measures to sustain supply of raw materials is also maintaining the momentum among players in the global nylon 66 market.
The study presented here is based on a Transparency Market Research report titled “Nylon 66 Market (Grade - Fiber and Resin; Application - Textiles, Industrial, Carpets, Automotive, Electrical and Electronics, Consumer Goods and Appliances, Packaging, Films and Coatings, Others (Wires and Cables)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”
The global nylon 66 market is segmented based on:
Grade
- Fiber Grade
- Resin Grade
Application
- Textiles
- Industrial/Machinery
- Carpets
- Automotive
- Consumer Goods & Appliances
- Electrical & Electronics
- Packaging
- Films & Coatings
- Wires
- Cables
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