Global Glass Filled Nylon Market: Overview
Glass-filled nylon also referred to as glass-filled plastic is a composite substance that can be molded as per the particular applications. The product is used to manufacture myriad kinds of structural parts through compression molding. It exhibits strength and enhanced surface hardness characteristics.
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Global Glass Filled Nylon Market: Growth Factors
Glass filled nylon market growth is likely to be influenced by a rise in the acceptance of the product in the automotive, electrical & electronics, construction, and industrial sectors. Nonetheless, the key aspects can restrain the business scope because of massive product costs and easy availability of product substitutes. Additionally, the rise in the production of two-wheelers and four-wheelers in the automotive sector have primarily made it necessary for the manufacturers to use glass filled nylon for reducing the weight. Apart from this, in next-generation vehicles, the strength/ unit weight is of vital importance. Hence, the product finds a plethora of applications in vehicle engine covers, car bonnets, and engine compartment.
Furthermore, thermal resistance, rigidity, and toughness of the product have made the product more popular in myriad sectors. The product is expected to become more popular in the near future with the launching of electric vehicles and next-gen cars. The onset of new technologies such as AI, IoT, and big data will open new horizons of growth for the glass filled nylon market in the ensuing years.
Global Glass Filled Nylon Market: Segmentation
The glass filled nylon market can be segmented into type, end-use, and manufacturing process. Type wise, the glass filled nylon market can be classified into polyamide 6 and polyamide 66. Based on the end-user, the industry can be divided into automotive, industrial, and electrical & electronics sectors. On the basis of the manufacturing process, the glass filled nylon market is classified into injection molding and extrusion molding.
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Global Glass Filled Nylon Market: Regional Analysis
Based on the region, the glass filled nylon market can be divided into five main regions: Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Massive demand for the product in the vehicle, electrical, electronics, and industrial sectors will vivify the expansion of the glass filled nylon market across the Asia Pacific zone. With the rise in the construction activities and flourishing electronics & electrical sectors, the business in the Asia Pacific region is likely to gain traction over the upcoming years. The rapid industrialization witnessed in APAC will also contribute opulently towards the regional market earnings. China is foreseen to be the regional revenue pocket of the Asia Pacific.
With the presence of key manufacturers in countries such as Canada and the U.S., the market growth in North America will gain momentum during the assessment period. Apparently, Europe and Latin American market are predicted to have huge growth prospects and will contribute enormously towards the overall market size over the coming decade.
Global Glass Filled Nylon Market: Competitive Players
Few of the main participants in glass filled nylon market are BASF SE, Royal DSM N.V., Evonik Industries, Fukuang Plastic, Nylatech, Akro-Plastic GmbH, Arkema, Ascend Performance Materials, RTP Company, Asahi Kasei Corporation, Radici Group, DowDuPont Inc., Ensinger GmbH, Lanxess, and SABIC.
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Global Glass Filled Nylon Market: Regional Segment Analysis
- North America
- The U.S.
- The UK
- The Asia Pacific
- Latin America
- The Middle East and Africa
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