Bio-Sourced Nylon Market: Overview and Dynamics
Nylons are widely used polyamides that are produced in large amounts from petrochemical-derived monomers. The production process of fully bio-sourced nylon consists of diacids and diamines produced by fermentation. The synthesized bio-sourced nylon portrays excellent thermotolerance and water absorption, making it a perfect high-performance engineered resin used in the automotive market. Bio-sourced nylon is economical as well as eco-friendly that will revolutionize the textile and petrochemical industry.
Bio-sourced nylon can be a game-changer as we can source chemical building block for making various fabrics, cookware and plastic material. Nylon, also called polyamide, is used predominantly in polymer applications for fiber and engineering. In the process of production of the bio-sourced nylon, microorganisms are technically modified which constantly produce sugars. The produced sugars are further transformed to produce caprolactum. The global nylon market has registered a CAGR growth of 5% in the past half-decade.
The bio-sourced nylon market is expected to grow at a higher growth rate over the medium and long-term forecast period. Over the past half-decade, raising concerns over carbon emissions and global warming created a need for businesses to find ways to reduce their impact on the environment and these sustainable business practices are expected to reduce 85% of climate change emissions and which would ultimately boost the demand for bio-sourced nylon.
Factors that will drive the demand of this industry are the features like strength, aesthetics, heat resistance and lightweight offered by the products made from nylon. The advent of the 21st century marked the rising concern for the environment among the consumers, which acts as driving force for the manufacturers to produce products that reflect more sustainable values and lifestyles. This evolution was also observed during the introduction of fermented products like wine, bread, or even kombucha.
Simple formation process used to manufacture food and beverages in the market could also be used to manufacture bundle of industrial and reusable consumer goods such as sleeping bags, seat belts in cars, rope, parachuting material, tubing hose, tarpaulin, dental floss etc. Some studies support the statement that bio-sourced nylon can provide extraordinary performances, including good process ability, good dye ability and intrinsic flame resistance properties.
However, the production of bio-sourced nylon comes with its challenges. For instance, every year for the production of five million tons of nylon-6, an estimated 60 million tons of greenhouse gases are emitted. Bio-sourced nylon production creates nitrous oxide, a greenhouse gas which is 300 times more harmful than carbon dioxide. Manufacturing bio-sourced nylon requires large amounts of water and energy, which further contributes to environmental degradation and global warming.
On a macroeconomic level, the rules and regulations set by the governments of different regions emphasize the production of biodegradable plastics and textiles. Manufacturers like Aquafil, aimed at increasing the amount of bio-sourced nylon fibers. The initiative of incorporating bio-sourced nylon to their plants also include the presence of apparel brands H&M, Carvicao, Vaude and others. Still, the argument on whether to use or discontinue the nylon products always remain in the heat.
Bio-Sourced Nylon Market: COVID-19 Impact Insights
COVID-19 Pandemic and the measure taken by the government to contain the virus affected operations of companies around the globe. The unexpected outbreak of COVID-19 hampered the growth of the market and is expected to regain its growth in a couple of years ahead. Supply chain disruption due to this pandemic had a huge impact on the demand for Nylon as electronic industries were not able to source raw material because governments around the globe classified textiles, apparels and electronic items under non-essential items.
During this pandemic, the market has witnessed a change in consumer behavior, people are demanding products that reflect their sustainable value and lifestyle. However, rising demand for biodegradable PPE kits and face masks led to the manufacturing of bio-sourced nylon-based masks. Many companies introduced nylon-6 with high coverage and low packing density of PAN nanofibers in their PPE kits. Bio-sourced nylon is an economic opportunity and the demand is set to resurrect by Q4 of FY2021.
Segmentation Analysis of Bio-sourced nylon Market
The global Bio-sourced nylon market is bifurcated into four major segments: application, material, end-use, and region.
On the basis of Application, Bio-sourced nylon market has been segmented as follows:
- Sleeping bags
- Seat belts in cars
- Parachuting material
- Tubing Hose
- Dental floss
On the basis of material, Bio-sourced nylon market has been segmented as follows:
- Nylon 6
- Nylon 1,6
- Nylon 66
On the basis of end-use, Bio-sourced nylon market has been segmented as follows:
- Consumer Goods
- Health Care
- Textile Industry
On the basis of geographic regions, Bio-sourced nylon market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
Bio-sourced nylon Market: Regional Outlook
Based on the regional split, the report “Bio-sourced nylon” takes into account six prominent regions including North America, Europe, Latin America, East Asia, South Asia and Oceania and Middle East & Africa. In each country, the demand for nylon fiber is distinct and so is the demand for Bio-sourced nylon. The Asian market faced low demand as there was a weak export market for finished goods. Demand in Europe and the US market is slowly recovering.
North America being the home for the major players under the bio-sourced nylon market will witness maximum market coverage and share out of all regions. The increment in the research and development of bioengineering companies plays a vital role in the same. Furthermore, the companies are concentrating on expanding their reach and product line inorganically, through partnerships and acquisitions. Europe can turn out as a promising region under the manufacturing and supply of bio-sourced nylon in the forecast period.
Textile fibers, for instance, are primarily consumed in Asian countries and China is the world's largest user of nylon fibers for textiles. It accounted for 72 % of the world's nylon textile fiber intake in 2018. However, due the minimal awareness and demand of the bio-sourced nylon the Middle East and African regions, the market is still struggling to grow in the same. However, the projecting growth for the fashion and personal care industry in the Middle East may soon turn out as the potential for the growth of the bio-sourced industry.
Bio-sourced nylon Market: Key Players
The global nylon market size was estimated at USD 28 billion in 2019, most the demand for nylon comes from the automobile industry as there are replacing metal components of the vehicles with plastic to make the vehicles lighter. There are only a few players in Bio-sourced nylon segments like Genomatica, Aquafil, Cathay Biotech and Radici, so the market seems to be consolidated.
Genomatica holds lions share in this market and they have partnered with Aquafil, one of the leading manufacturer of nylon in the world. Genomatica is strategizing its production feasibility to make Bio-sourced nylon available by the H2 of 2021. Players in this market expect the automotive industry would contribute most to their revenue and the rest of the revenue is expected to be generated from the textile and electronic industry.
The major restraints faced by these companies are the cost of manufacturing and the environmental impact from their operation and this problem can only be solved if the companies become capable of producing Bio-sourced nylon at a larger scale. The increasing infrastructure and investments in research and development are done by major players under the bio-sourced nylon market indicate the rising demand and supply of bio-sourced nylon in their respective regions.
The research report presents a comprehensive assessment of the bio-sourced nylon market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The bio-sourced nylon market report provides analysis and information, according to market segments such as geographies, product type, material type and end-use
The Bio-sourced nylon Market Report Covers Exhaustive Analysis On:
- Bio-Sourced Nylon Market Segments
- Bio-Sourced Nylon Market Dynamics
- Bio-Sourced Nylon Market Size & Demand
- Current Trends/Issues/Challenges in Bio-Sourced Nylon Market
- Competition & Companies involved
- Value Chain
The Bio-sourced nylon Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, BENELUX, Italy, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand, Rest of South Asia & Oceania)
- The Middle East and Africa (GCC Countries, South Africa, Northern Africa, Turkey, Rest of MEA)
The Bio-sourced nylon report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Bio-sourced nylon report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Bio-sourced nylon report also maps the qualitative impact of various market factors on market segments and geographies.
The Bio-sourced nylon Market Report Highlights:
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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