The use of glass filled nylon is increasing due to its superior properties such as high strength, long durability, dimensional stability, stiffness, strength, chemical resistance, and creep resistance. 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 increasing use of glass filled nylon in the automotive and electrical & electronics industries is bolstering the market, globally.
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The glass filled nylon market, by end-use industry, is segmented into automotive, electrical & electronics, industrial, and others including aerospace, construction, and marine. The market in the automotive end-use industry is projected to register the highest CAGR, in terms of value, during the forecast period. Automotive is the largest end-use industry segment of the glass filled nylon market, followed by the electrical & electronics end-use industry. The growing usage of glass filled nylon is these end-use industries is bolstering the market.
The glass filled nylon market, by type, is segmented into polyamide 6, polyamide 66, and others including polyamide 11, polyamide 12, and other specialty polyamides. 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 excellent tensile strength, high mechanical strength, and chemical resistance, which make polyamide 6 the widely glass filled nylon in the automotive and electrical & electronics end-use industries.
The glass filled nylon market, by manufacturing process, is segmented into injection molding and extrusion molding. Injection molding is the most widely used process for the manufacturing of glass filled nylon. The ease of manufacturing glass filled nylon through this process is one of the major factors attributed to the high market size during the forecast period.
By region, the glass filled nylon market is segmented into five regions, namely, North America, APAC, Europe, the MEA, and Latin America. APAC is expected to record the highest growth rate, in terms of value and volume, during the forecast period. The growth of end-use industries such as automotive, electrical & electronics, and industrial in the key countries of APAC such as China, India, and Japan is expected to drive the demand for glass filled nylon in the next five years. The key market players have realized the immense potential offered by the region for the growth of the glass filled nylon market. For instance, Asahi Kasei Corporation acquired Sage Automotive Interiors, Inc. This acquisition is a forward integration which will be beneficial for the growth of the glass filled nylon market, as automotive is the major end-use industry of glass filled nylon.
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