Global Nylon 6 Filament Yarn Market Size, Share & Trends Analysis Report, By Product Type, By End User, By Region Forecasts, 2023 - 2030

Global Nylon 6 Filament Yarn Market Size, Share & Trends Analysis Report, By Product Type, By End User, By Region Forecasts, 2023 - 2030

Global Nylon 6 Filament Yarn Market was valued at US $ 15.8 Billion in 2022 and is expected to reach US $ 28.6 Billion by 2030 growing at a CAGR of 7.7% during the forecast period 2023 – 2030.

The market for nylon 6 filament yarn is expanding due in large part to growing demand from textile and commercial applications. There are a number of strong reasons driving this demand increase. Nylon 6 filament yarn, well-known for its remarkable strength, elasticity, and durability, is essential to the textile industry. It is the go-to option for weaving textiles and producing a wide variety of clothes, from hosiery to sportswear, that meet changing customer demands and current trends.

Nylon 6 filament yarn is exceptionally versatile, making it suitable for both durable industrial fabrics and lightweight, breathable apparel. Its versatility guarantees its applicability in a variety of textile markets. In addition to textiles, it is widely used in the business and industrial sectors, helping to make tyre cable, nets, conveyor belts and upholstery for cars and aeroplanes. The requirement for Nylon 6 filament yarn is directly driven by the rising demand for these goods. Furthermore, as applications like geotextiles are used increasingly frequently in building and civil engineering projects, global urbanisation and infrastructure development are important drivers. Demand will continue to be steady as customer tastes shift in favour of goods that blend comfort, toughness, and style. These attributes go well with Nylon 6 filament yarn. Growing middle-class populations in emerging economies, along with rising consumer expenditure on commercial goods and textiles, are significant drivers of industry expansion. The demand for Nylon 6 filament yarn is further increased by the increasing prosperity and aspirations in these areas.

“Draw Textured Nylon Yarn (DTY) segment, by product type, to be dominating market from 2023 to 2030.”

With a predicted CAGR of 7.0% over the course of the forecast period, the draw textured nylon yarn (DTY) category in the Nylon 6 Filament Yarn market is expected to grow at the fastest rate. This expansion can be ascribed to DTY's special combination of qualities, which combines the robustness of synthetic materials with the longevity of natural fibres. Draw textured nylon yarn is widely used in many different industries, including as home furnishings, athletic footwear, sports bags, and textile manufacturing for clothes and other uses. Because DTY may increase the elasticity and tightness of the yarn, it is widely utilised in the production of sports shoes and sportswear. As sports and fitness activities become more popular, there is an increasing demand for high-quality sportswear and athletic footwear.

“Sport apparels segment, by end user, to be dominating market from 2023 to 2030.”

With a predicted growth rate of 6.7% over the course of the forecast period, sports apparels is the leading material sector in the nylon 6 filament yarn market. The market share of athletic apparel in China increased from 10% in 2015 to 14% in 2020, demonstrating the noteworthy increase in demand for sports clothing. The reason for this change is because people are becoming more health-conscious and adopting active, fitness-focused lives that motivate people to participate in sports and fitness activities.

“Asia Pacific to be largest region in Nylon 6 Filament Yarn market.”

The Asia Pacific region is anticipated to demonstrate a noteworthy Compound Annual expansion Rate (CAGR) of 8.3% in the projected timeline, indicating substantial market expansion. The primary cause of this increase is the region's fast industrialization, which is marked by an accelerated rate of development. Important sectors including sports, aircraft, automobiles, and others are acting as significant catalysts for the growth of the nylon 6 filament yarn market in the Asia-Pacific region. Moreover, during the designated forecast period, rising investments in defence and sports equipment are anticipated to propel market growth.

One notable example of the growing emphasis on research and development in sportswear is Anta Sports Products Ltd., a well-known Chinese sports brand, which is sponsoring the Tokyo Olympics 2021. This indicates that the Chinese sports market is expanding and that investors from across the world are becoming more interested in it. Synthetic polymer nylon 6 filaments, in particular, are widely used in high-performance sport shoes because of their remarkable qualities, which include a glossy finish and resistance to abrasion. Additionally, the APAC nylon 6 filament yarn market is experiencing growth due to the Chinese government's efforts like as 'China Manufacturing 2025,' which are aimed at encouraging the use of electric vehicles.

Nylon 6 Filament Yarn Competitive Landscape

The competitive landscape of the Nylon 6 Filament Yarn market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Nylon 6 Filament Yarn technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Nylon 6 Filament Yarn market is highly competitive, with numerous companies vying for market share. Prominent companies in the Nylon 6 Filament Yarn Market include:

Formosa Chemicals and Fibre Corporation (FCFC), Superfil Products Limited, William Barnet and Son, LLC, Celanese Corporation, Royal DSM N.V, Radici Group, UBE Industries, LTD, AdvanSix Inc, Nurel S.A, SRF Limited, Aquafil, JCT Limited, DuPont, BASF SE, Ensinger, Lanxess, Toray Industries, Inc., Li Peng Enterprise co. ltd, Nilit Ltd, Invista, and others.

Recent Developments:

Plans for a USD$1.2 billion nylon production facility in China were revealed in June 2020 by Invista, a major player in the market for nylon 6 filament yarn. The facility is expected to be operational by 2022. This cutting-edge facility will be a major source of DNA, which is the main ingredient in nylon 6 polymers, which are used in a variety of sectors, such as textile fibres, glass, and plastics.

Another significant participant in the nylon 6 filament yarn industry, DOMO Chemicals, successfully completed the acquisition of Solvay's Performance Polyamides Business in Europe in January 2020. With this calculated move, DOMO hoped to add nylon 6 and nylon 6.6 to its line of products, increasing its expected yearly income by about US$1.8 billion.