Glass Filled Nylon Market worth $10.8 billion by 2024, at a CAGR of 5.8%

 

The glass filled nylon market size is estimated to grow from USD 8.2 billion in 2019 to USD 10.8 billion by 2024, at a CAGR of 5.8% during the forecast period. The glass filled nylon market is witnessing significant growth because of the growing demand from industries such as industrial, automotive, and electrical & electronics. Glass filled nylon provides various superior properties such as high strength, dimensional stability, high creep resistance, and chemical resistance.

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The automotive end-use segment accounted for the largest share of the glass filled nylon market

Automotive is an important end-use industry segment of the glass filled nylon market. Glass filled nylon is an ideal solution for vehicle weight reduction. It is fast replacing metal parts in the automotive industry due to the ease of mass production as well as ease in molding it. Polyamides are also cheaper in unit cost in comparison to metals, which make them an economic alternative. Glass filled nylon is used in applications such as automotive engine covers, parts inside the engine compartment, and under the bonnet of cars.

Polyamide 6 is the most widely used glass filled nylon

Polyamide 6 is the most widely used polymer in the making of glass filled nylon. In terms of value and volume, polyamide 6 is the most widely used glass filled nylon due to its easy availability and low price. It also offers superior properties such as good tensile strength, high mechanical strength, and chemical resistance. These properties make polyamide 6 based glass filled nylon suitable for various applications in the automotive and electrical & electronics industries.

APAC is the largest glass filled nylon market, in terms of value and volume. China, India, and Japan are the fast-growing economies that contribute to the growth of the market in the region. The booming electrical & electronics and industrial sectors are also bolstering the glass filled nylon market in APAC. China is one of the prominent consumers of glass filled nylon in APAC. The country has become the single-largest consumer of glass filled nylon in the electrical & electronics industry, which is expected to strengthen its position further.

Major players in the glass filled nylon market include BASF SE (Germany), Asahi Kasei Corporation (Japan), Lanxess (Germany), DowDuPont Inc. (US), Royal DSM N.V. (Netherlands), Ensinger GmbH (Germany), Arkema (France), SABIC (Saudi Arabia), Evonik (Germany), and Ascend Performance Materials (US).

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Polyamide 6 is the most widely used glass filled nylon

Polyamide 6 is the most widely used polymer in the making of glass filled nylon. In terms of value and volume, Polyamide 6 is the most widely used glass filled nylon due to its easy availability and low price. It also offers superior properties such as good tensile strength, high mechanical strength, and chemical resistance. These properties make polyamide 6 based glass filled nylon widely used in the automotive and electrical & electronics industries.

The glass filled nylon market is projected to grow from USD 8.2 billion in 2019 to USD 10.8 billion by 2024, at a CAGR of 5.8% between 2019 and 2024. The market is growing due to the high demand from the automotive, industrial, and electrical & electronics industries.

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The optimum mix of properties of both polyamide resin and glass fiber, makes 30% glass filled nylon suitable for use in the automotive industry. It also provides high strength and rigidity. Several global glass filled nylon manufactures such as EMCO Industrial Plastics, Inc and Nylatech provide high grade 30% glass filled nylon.

Key Questions Addressed by the Study

• What are the major end-use industries of glass filled nylon?
• Which industry is the major consumer of glass filled nylon?
• Which region is the largest and fastest-growing market for glass filled nylon?
• What are the major types of glass filled nylon?

APAC is a key glass filled nylon market due to the booming electrical & electronics and industrial sectors. China is one of the key consumers of glass filled nylon in APAC. The country has become the single-largest consumer of glass filled nylon in the electrical & electronics industry and is expected to strengthen its market position.

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The glass filled nylon market comprises major manufacturers such as BASF SE (Germany), Asahi Kasei Corporation (Japan), Lanxess (Germany), DowDuPont Inc (US), Royal DSM N.V. (Netherlands), Ensinger GmbH (Germany), Arkema (France), SABIC (Saudi Arabia), Evonik (Germany), and Ascend Performance Materials (US).

Automotive is expected to the largest end-use industry of glass filled nylon Market between 2019 and 2024

The glass filled nylon market is projected to grow from USD 8.2 billion in 2019 to USD 10.8 billion by 2024, at a CAGR of 5.8% between 2019 and 2024. The market is growing due to the high demand from the automotive, industrial, and electrical & electronics industries.

Automotive is the largest end-use industry of glass filled nylon. Glass filled nylon is an ideal solution for vehicle weight reduction. It is fast replacing metal parts in the automotive industry due to the ease of mass production as well as ease in molding it. Polyamides are also cheaper in unit cost in comparison to metals, which make them an economic alternative. Glass filled nylon is used in applications such as automotive engine covers, parts inside the engine compartment, and under the bonnet of cars.

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Recent Developments

• In September 2017, BASF SE signed an agreement related to the sale of Solvay’s integrated polyamide business.
• In September 2018, Asahi Kasei Corporation acquired Sage Automotive Interiors Inc. and consolidated its glass filled nylon business.
• In October 2018, Lanxess launched a new polyamide to enhance its new product development capabilities and cater to the increasing demand for glass filled nylon.

Scope of the report

Report Metric	Details
Years considered for the study	2017–2024
Base year	2018
Forecast period	2019–2024
Units	Value (USD Million), Volume (Kiloton)
Segments	Type, Manufacturing Process, Glass Filling, End-Use Industry, and Region
Regions	North America, Europe, APAC, MEA, and Latin America
Companies	BASF SE (Germany), Asahi Kasei Corporation (Japan), Lanxess (Germany), DowDuPont Inc. (US), Royal DSM N.V. (Netherlands), Ensinger GmbH (Germany), Arkema (France), SABIC (Saudi Arabia), Evonik Industries (US), and Ascend Performance Materials (US).Total 20 major players covered.

APAC is expected to lead the glass filled nylon market during the forecast period.
APAC is a key glass filled nylon market due to the booming electrical & electronics and industrial sectors. China is one of the key consumers of glass filled nylon in APAC. The country has become the single-largest consumer of glass filled nylon in the electrical & electronics industry and is expected to strengthen its market position.

The glass filled nylon market comprises major manufacturers such as BASF SE (Germany), Asahi Kasei Corporation (Japan), Lanxess (Germany), DowDuPont Inc (US), Royal DSM N.V. (Netherlands), Ensinger GmbH (Germany), Arkema (France), SABIC (Saudi Arabia), Evonik (Germany), and Ascend Performance Materials (US).

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BASF SE (Germany) and Asahi Kasei Corporation (Japan) are the Major Players in the Glass Filled Nylon Market

The glass filled nylon market size is estimated to grow from USD 8.2 billion in 2019 to USD 10.8 billion by 2024, at a CAGR of 5.8% between 2019 and 2024. The superior properties offered by glass filled nylon and the growing automotive industry are majorly driving the market.

The major glass filled nylon manufacturers are BASF SE (Germany), Asahi Kasei Corporation (Japan), Lanxess (Germany), DowDuPont Inc. (US), Royal DSM N.V. (Netherlands), Ensinger GmbH (Germany), Arkema (France), SABIC (Saudi Arabia), Evonik Industries (US) and Ascend Performance Materials (US). These players have adopted various growth strategies such as acquisition and new product launch to expand their presence in the global market. Acquisition was the dominant strategies adopted by the major players, between 2014 and 2019, which helped them to offer innovate products and broaden their customer base.

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BASF SE has secured a strong position in the European market. It is also establishing its presence in Latin America and the MEA and is now focusing on APAC. The company is a strong market player in the functional materials & solutions business segment. It has a strong focus on R&D and has acquired Solvay’s global polyamide business. This has helped the company to maintain its market position and expand its glass filled nylon business.

Asahi Kasei Corporation has a prominent presence in the glass filled nylon market. The company has a strong brand image, and it caters to the growing demand for glass filled nylon, particularly from the automotive application. It opted inorganic growth strategy through the acquisition of Sage Automotive Interiors, Inc. (US). This will increase the glass filled nylon market, as automotive is a key end-use industry of glass filled nylon. The company mainly focuses on R&D activities to maintain its comprehensive portfolio of glass filled nylon products that have significant growth potential.

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Glass Filled Nylon Market by Type (Polyamide 6, Polyamide 66),End Use Industry(Automotive, Electrical & Electronics, Industrial), Manufacturing Process(Injection Molding, Extrusion Molding), Glass Filling and Region Global Forecast to 2024