Demand for durable goods will fuel specialty resin demand growth more than 4 percent annually through 2016, and Northeast China will continue to be the largest consumer of nylon engineering resins, according to IHS.
Global demand for nylon 6 will grow at an average rate of 4 percent annually, while demand for nylon 6,6, will grow 5 percent annually, according IHS’s CMAI 2012 World Nylon Engineering Resins Analysis report.
The specialty resins are used in the production of a broad range of applications, including component parts for automobiles, electronics and appliance. Much of the industry’s growth is fueled by auto manufacturers replacing metal parts with parts made from compound nylon resins because the latter are cheaper and lighter.
In 2011, Northeast Asia led global consumption of nylon 6 resins, with nearly 45 percent of the market. The region consumes slightly more than 30 percent of global demand for nylon 6,6, with Chinese factories fueling much of the demand for both resins.