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.
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.
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.