Enhancing the performance of nylons

The sustained growth of the global nylon market takes its cue from the automobile industry which dominates the application for nylons. Valued at $29.76 billion in 2020, the global nylon market is expected to witness a compound annual growth rate (CAGR) of 5.8% from 2021- 2028, according to a report by Grand View Research. The report further states that the automobile industry is highly concentrated, and even while the product range is high owing to a large number of market participants, around 49% of the market is dominated by top players including GM, Toyota, Ford, and Volkswagen. Nylon is a material of choice in the production of engine components such as bushings, bearing, oil containers, wire harness connectors, fuse boxes, cylinder head covers, crankcases, and timing belts.

The past few years saw the Asia Pacific region posting rapid growth in its automobile production, attributed to improving socio-economic trends and infrastructure. Other factors cited by the report as reasons for the robust growth in the automobile industry in the region include favourable regulations, availability of workforce, and initiatives by the government to provide attractive foreign investment incentives, which have resulted in major players shifting their manufacturing bases to countries like China, India, and Indonesia. Another contributing factor in the acceptance of nylon as raw material is the focus of the automobile industry to meet strict regulations on improving fuel efficiency and maintaining carbon emissions at manageable levels. Aside from being sustainable, nylons are lightweight and versatile, thus allowing for greater design flexibility without compromising the safety and stability of the vehicle.