Global Nylon Filament Yarn Market to Grow at a CAGR of 4.32% by 2030 | ChemAnalyst

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Summary

Global Nylon Filament Yarn market has shown tremendous growth in the past few years and is anticipated to achieve a CAGR of 4.32% during the forecast period. 

Press Release

According to ChemAnalyst report, “Global Nylon Filament Yarn Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”,  global Nylon Filament Yarn market has shown tremendous growth in the past few years and is anticipated to achieve a CAGR of 4.32% during the forecast period.  The growth is attributed most importantly to increasing demand application in textiles application such as sports apparels, travel accessories, sports and adventure equipment, fabric, magic tape, fishing nets etc. Nylon filament yarn being produced since 1973 using technology from Toray Japan and it has the advantage of producing color that is resistant to stretching, friction and chemicals. There are several grades of nylon filament yarn available including flat yarn, textured yarn, partially oriented yarn, fully drawn yarn, and dyed yarns. Flat yarn dominates the global market for nylon filament yarns due to its application in textile products including women wear, scarf, sarees, sewing thread etc. coupled with its rising utilization in automobile fabric and smart fabric is expected to drive the demand of nylon filament yarn during the forecast period. Nylon filament yarn is basically a synthetic yarn that is light weight, soft, and has high tensile strength and durability. Major technology licensor for nylon filament yarn includes Zimmer AG Germany.

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Sports apparel is likely to be the most major application segment during the forecast period.  Its characteristics like elasticity, high tensile strength, resistance to abrasion and affordable price can significantly promote the growth of the nylon filament yarn market. Sudden outbreak of novel coronavirus adversely impacted the global Nylon Filament Yarn market due to shutdown of industrial operations in the first half of the year in 2020. However, surging demand for high performance fabrics from the automotive and defence sector and rise in the demand of Nylon Filament fabric in China from the manufacturing sector due to continuation of production activities after the lockdowns is going to act as an opportunity during the forecast period.

Regionally, Asia Pacific dominates the Global Nylon Filament Yarn market as this region is the major textile manufacturers and there is a continuous demand of textile and high-performance fabrics. Furthermore, the increasing population and per capita income in emerging economies is another factor propelling a higher demand for nylon filament yarn in the region.