Glass-Filled Nylon market to Flourish with an Impressive CAGR During 2022-2032
Glass-filled nylon has high penetration across vivid appliances - automotive and other end-use industries - owing to its robust properties. Its properties such as tensile strength and stiffness, lower thermal expansion rate, nearly 50% more hardness, augmented stability in extreme temperatures, and more, have boosted overall market growth in the past half-decade.
Wide use case in the automotive industry in making vehicles lightweight and strong has boosted demand for glass-filled nylon. Increasing applications across industries such 3D printing, consumer appliances, aerospace, etc., is also likely to provide significant boost to the growth of the market.
The global glass-filled nylon market is anticipated to grow 2.3X and touch a valuation of US$ 18.3 billion by the end of 2032. Increasing nylon production globally is expected to provide an absolute dollar opportunity of US$ 8.8 billion during the forecast period.
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The global glass-filled nylon market is anticipated to rise at 6.9% CAGR through 2032. The North American market is the largest shareholder and has acquired more than one-third market share. Increased application of glass-filled nylon in industrial equipment, appliances, speedometer gears, etc., is being witnessed.
Key Takeaways from Market Study
- Glass-filled nylon market anticipated to add 2.3X value by 2032.
- Polyamide 6 glass-filled nylon type holds nearly half of the global market share, and is likely to generate an absolute dollar opportunity of around US$ 4.2 billion over 2022-2032.
- Among the end-use industries, the automotive industry has been the leading segment and is set to expand at 7.6% CAGR.
The North America glass-filled nylon market set to dominate, wherein, the United States is set to acquire more than 90% market share.
- The India glass-filled nylon market is anticipated to dominate the South Asia and Oceania region with more than two-fifths market share in 2022.
“Continuous R&D for advancement of glass-filled nylon set to provide competitive advantage as well as copious growth opportunities over forecast years,” says a Fact.MR analyst.
Winning Strategy
Market players are rapidly spending on R&D to develop new products to cope up with end-use industry innovations and provide new applications of glass-filled nylon.
· For instance, DuPont launched an engine mount bracket made of glass-filled nylon, which is replacing cast aluminum incumbent material.
Companies are also focusing on building long-term relations with end-use industries to enjoy continuous demand. These developments will drive the sales of glass-filled nylon in the long term.
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