Nylon-MXD6 Market - Forecast(2023 - 2028)

Nylon-MXD6 Market is forecast to reach $XX billion by 2025, after growing at a CAGR of 4.6% during 2020-2025. Nylon-MXD6 is a crystalline polyamide produced by polycondensation of m-xylenediamine (MXDA) with adipic acid. The major factor driving the nylon-MXD6 industry during the forecast period includes its increasing usage in various applications of packaging and automotive owing to its favorable characteristics such as good processability, excellent gas barrier property against oxygen, carbon dioxide and many other gases, superior recyclability, extreme toughness, strength, and elasticity. Nylon-MXD6 is being widely used as a packaging material, molding material, and also used in the production of microfilaments because of its features, which is further increasing the nylon-MXD6 market during the forecast period.

The report: “Nylon-MXD6 Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the nylon-MXD6 Industry. 

By Type: Injection Molding Grade and Extrusion Grade

By End-Use Industry: Packaging Materials (Film, Sheet, Bottle, and Others), Automotive (Monofilaments, Mold Compounds, and Others) and Others

By Geography: North America, South America, Europe, Asia Pacific, and RoW

The injection molding segment held a significant share in the nylon-MXD6 market in 2019, as Nylon-MXD6 can be easily applied for co-injection in combination with other resins such as polyethylene (PE), polyethylene polypropylene (PP) or terephthalate (PET) to produce multilayer containers, sheets and films for packaging industry because of its excellent heat stability and wide processing window. The suitable processing temperature of nylon-MXD6 is 250 to 290℃ due to which it can be used in co-injection with not only polyolefines but also with high processing temperature polymers such as nylon-6, nylon-66, polycarbonate or PET. The nylon-MXD6 can be easily used in injection molding grade because of its good thermal stability in the molten state. Also, injection molding is one of the preferred methods for manufacturing because of its multiple advantages over other methods of molding such as simpler, more reliable, recyclable, and extremely efficient, which is driving the injection molding segment during the forecast period.

The packaging material application held the largest share in the nylon-MXD6 market in 2019 and is growing at a CAGR of XX%, owing to the increasing demand of nylon-MXD6 from the packaging industries to manufacture packaging products such as laminated films, sheets, trays, cups, and bottles. The market is growing due to the increasing demand from its end-user industries such as packaging and automotive. Nylon-MXD6 is blended with polymers like PET to make bottles and films that are in great demand from the food and beverage industry since nylon-MXD6 retains its excellent gas-barrier characteristic even under high humidity. They even retain their gas-barrier qualities after retorting and have gas-barrier characteristics greater than any other commercially marketed nylon resins. The extensive properties of nylon-MXD6 such as pinhole resistance, transparency, and environmental compatibility make it the most suitable material for food packaging sheets, which is anticipated to be the major reason for the nylon-MXD6 market growth.

Asia Pacific region held the largest share in the nylon-MXD6 market in 2019 up to 39%, owing to the increasing demand for automobiles and packaging materials from the consumers due to the increasing urbanization in the APAC region. Nylon-MXD6 has conceded the standards set by the Ministry of Welfare and complies with the self-imposed standards of the Polyolefin Safety Council and has been approved by and registered with the Council. In 2016, according to the Federation of Indian Chambers of Commerce & Industry (FICCI) packaging stood at USD 700 billion and was one of the fastest-growing industries globally. In developing countries like India, it grew at a CAGR of 16%. According to OICA, in 2018 the automotive production in India, Thailand, Indonesia, and Malaysia has increased up to 5174645, 2167694, 1343714, and 564800, i.e., 8.0%, 9.0%, 10.3%, and 12.2% higher than the previous year due to rising per capita income of the individuals. The increasing packaging materials and automobile market are anticipated to be the major reason for the nylon-MXD6 market growth in the Asia Pacific region during the forecast period.

Nylon-MXD6 can efficiently increase gas-barrier characteristics of blended nylon 6 and nylon 66 by blending them with itself. The addition of nylon 6 to nylon-MXD6 is also favorable to nylon-MXD6 as it improves nylon-MXD6's impact resistance and even prevents the whitening of nylon-MXD6 when it absorbs moisture. The extensive characteristics of nylon-MXD6 such as higher tensile strength, flexural strength and modulus, higher glass transition temperature, lower water absorption, wider processing window, excellent gas barrier properties, crystallization speed, chemical resistance, Rheological properties, and thermal stability, acts as a driver for the nylon-MXD6 market during the forecast period.

There is an increasing demand for nylon-MXD6 products in the packaging industry as it is being recognized as a stable gas barrier material to produce various packaging. It also finds its usage in the automotive industry, with the automotive industry booming we can expect nylon-MXD6 demand also to increase subsequently. The Food and Drug Administration (FDA) has approved the use of nylon-MXD6 for indirect food additives. Thus, with the approval of the FDA, the demand for nylon-MXD6 has been increasing for use in any type of food and beverage applications. Also, the stable performance of nylon-MXD6 in cold and wet environments like food lockers and refrigerators is expected to increase its demand in the frozen foods market. According to the Innovative UK, the UK Packaging Manufacturing Industry has annual sales of £11 billion is a major contributor to the UK GDP. Also, the U.K smart packaging market was valued at US$12.646 billion in 2016 is estimated to reach US$19.787 billion by 2021. Thus, with the increasing packaging industry, the demand for nylon-MXD6 is also increasing which acts as a driver for the nylon-MXD6 market during the forecast period.

Operators engaged in drying and melting processes of nylon-MXD6 have to take proper safety measures. The small particles that are released into the air when first opening the nylon-MXD6 package or when heating are known to irritate the mucous membranes. Also, nylon-MXD6 is flammable; if Nylon-MXD6 catches fire there is an emission of toxic gases, which restrain the nylon-MXD6 market growth during the forecast period.

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Nylon-MXD6 market. In 2019, the market of Nylon-MXD6 has been consolidated by the top five players accounting for xx% of the share. Major players in the Nylon-MXD6 market are Mitsubishi Gas Company Inc., Solvay S.A., Parchem fine & specialty chemicals, PCI, CAC group inc., Toyobo, and EMS.