Nylon 612 Market Size, Share, Growth, and Industry Growth, By Type (Regular Nylon 612 and Reinforced Nylon 612), By Application (Automobile Industry, Electronics, and Electrical Industry, Household Products, Mechanical Industry, and Other Applications), Regional Forecast To 2031

Updated On: 01 April 2024

Nylon 612 Market REPORT OVERVIEW

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The global nylon 612 market size was USD 196.7 million in 2022 and market is projected to touch USD 394.04 million by 2031, at a CAGR of 8.0% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with violin experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Nylon 612 was developed to absorb low moisture. It is an engineering resin that provides properties between nylon 6 and 12. It has low absorbing capacity than nylon 6. It is mostly used in extruded tubing applications. It can also be used in the application of injection modeling but majorly in the glass-reinforced grades. These nylons are more robust than other nylons and are prone to heat and chemicals. Additionally, these nylons wear resistance and lubricity, which increases their adoption in the global market.

Nylons are available for various purposes, and specific nylons such as nylon 6, nylon 4/6, nylon 6/10, nylon 6/12, nylon 6/6, nylon 11, and nylon 12. This type of nylon is developed for specific applications. It is a type of nylon that is very easily modified to enhance physical properties and wear resistance, and reinforces fiber qualities. This nylon compound is used in various applications such as cams, gears, and electrical and structural components. This type of nylon is an excellent material with good physical properties for applications that require high heat resistance, good dimensional stability, chemical resistance, and moisture.

Covid-19 Impact: Manufacturing Industries Shut Down Affected Market Growth

The sudden outbreak of COVID-19 created a disaster and affected various industries such as aerospace, automotive, construction, education, and other industries. All the industries witnessed a disruption in growth. The steady spread of the virus led to stringent regulations to avoid infection, which locked the population indoors, resulting in disruption of the manufacturing industries and supply chain. The workforce witnessed a downfall due to their health concern. Even though the pandemic supplemented most crew to work from their homes, the limited budget deemed the work rate. The nylon 612 market witnessed a downfall in demand on its growth due to stagnant production. 

LATEST TRENDS

"Increasing Demand for The Automotive Industry to Drive Growth"

Constantly escalating demand for automotive is anticipated to drive trends in the market. With the fluctuating prices of the raw materials in the automotive industry, manufacturers are inclined toward the product adoption for its various applications and characteristics, such as lower water absorption and higher temperature rating. These factors are estimated to drive trends in the market. Additionally, the demand for automotive is on a constant rise due to the rising population globally, which is forecasted to boost the demand for the product.

Nylon 612 Market SEGMENTATION

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• By Type Analysis

By type, the market is segmented into regular nylon 612 and reinforced nylon 612.

• By Application Analysis

Based on application, the market is classified into the automobile industry, electronics and electrical industry, household products, mechanical industry, and other applications. 

DRIVING FACTORS

"Various Properties of the Product to Boost Growth"

Nylon 612 can be used in water applications or machines that work under the water as it has a low absorbing capacity. It is resistant to heat and has a low coefficient of friction which increases its adoption in the automotive industry. It has a better heat resistance and lower mold shrinkage than other nylon types. Additionally, its use in mechanical parts of the vehicle, gears, structural, and electrical components is likely to boost nylon 612 market growth.

"Higher Demand for Fish to Bolster Market Growth "

Nylon 612 is used in the manufacturing of fish nets due to its durable properties. Fish farming in developing countries such as India, China, and Japan demands more for the product, which is likely to surge growth in the market. The steady expansion of fish farming and the rising demand for fish are expected to boost growth in the market. Additionally, its low moisture absorbing characteristics are expected to boost product demand.

RESTRAINING FACTORS

"High Cost of Products to Hinder the Market Growth"

Nylon 612 material costs higher than other types of nylons as it has a complex manufacturing process which is likely to hamper the market growth. This nylon costs more than polyamide or polyamide 6/6, which is expected to scatter customers in the global market. Additionally, the product has lower heat distortion than polyamide 6/6. Moreover, it has poor chemical resistance to acids and bases. Furthermore, the availability of precursors is also forecasted to retard market growth. The lower hardness of this nylon type is also anticipated to hinder market growth.

Nylon 612 Market REGIONAL INSIGHTS

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"Asia Pacific to Dominate Due to The Higher Fish Farming in The Region"

Asia Pacific is likely to lead the global market due to the increasing demand for the product from fishing nets and the expanding application in the automotive sector. The fish farming industry is rapidly growing in the Asia Pacific region and is expected to drive regional growth. Additionally, the region is forecasted to grow due to the rising demand for luxury vehicles ascribed to the customer’s increasing purchasing power.

North America is considered one of the largest producers of the product and is expected to boost the expansion of the nylon 612 market share. The presence of the automotive industry in the region is anticipated to drive growth.

Europe is forecasted to show sizeable growth due to strong demand for the automotive industry. Countries present in the region increased the subsidy amount for vehicles, which is likely to surge the product demand.

KEY INDUSTRY PLAYERS

"New Product Development to Escalate Market Growth"

Key manufacturers are focused on constantly upgrading their product portfolio by launching advanced features to differentiate their products from other companies' products. Competitors also emphasize on sustaining the market of heavy competition.  Various analytical approaches are being made by the key competitors. Major players also emphasize on boosting their presence through investments, partnerships, agreements, joint ventures, expansions & acquisitions, and partnerships. The emergence of advanced products is expected to escalate the product demand and support the market growth.  

List of Market Players Profiled

• DuPont (U.S.)
• Arkema (France)
• Evonik (Germany)
• Aymans (Sri Lanka)
• Ensinger (Germany)
• RTP (U.S.)
• NYCOA (U.S.)
• UBE (Japan)
• Leander Basel
• Clariant (Switzerland)
• LATI S.p.A.(Italy)
• Bada (Switzerland)
• Shandong Guangyin New Material (China)
• Shandong Dongchen Ruisen New Material Technology Co., Ltd.(China)
• Jiangsu Xinglong Nylon Co., Ltd. (China)
• Rantic 

INDUSTRY DEVELOPMENT

• August 2020- Nylstar, a Spanish-based nylon yarns manufacturer came up with a yarn made of recycled nylon 6 of INVISTA, 6 polymers with Global Recycled Standard Certification. The company also claims to retain yarn’s high quality and is concerned with the quality of the yarn.

REPORT COVERAGE

The report gives a close watch on the major factors influencing growth in the market. It also covers the forecast of the market on the basis of its segments, regional analysis, and driving factors. The factors anticipated to affect the growth of the market are also included in the report. A study on market essentials is made to offer complete insights into the market. Additionally, the list of key market players is mentioned to represent the company’s location and strategies. The competitive analysis is represented in the report to offer a brief idea about the existing competition.