The India Nylon Tire Yarn (NTY) market has shown significant growth in the historic period of FY2015-FY2022 and is anticipated to further grow at a steady CAGR of 4.78% by FY2030.
Nylon is a versatile polymer that is synthesized by the polymerization of caprolactam with additives like amino acids and dicarboxylic acid salts along with a heat stabilizer such as copper based organic compound. In the polymerization process, there is ring opening polycondensation and polyaddition reactions taking place. All three polymerization reaction steps are equilibrium reactions. Nylon yarn has a very high tensile strength and offers flexibility to be shaped in any form. Nylon tire yarns can be used for manufacturing tire cords using yarn twisting, weaving, and dipping. The direction of yarn tilt determines the gloss and friction coefficient of the yarn. In the dipping process, special lubricants are applied to the woven fabric to create the desired tire cord according to the customer's specifications.
The tremendous growth of the tire yarn sector is catalyzed by increasing demand for tires with larger rim size, increasing demand for light weight high-tech yarns, and increasing use of low rolling resistance tires. Growth in the Nylon Tire Yarn industry is strongly driven by the tire industry. Development of the Indian transportation sector leading to a tremendous increase in the number of vehicles is likely to boost the demand for Nylon Tire Yarn in India. Surging growth in the automobiles sector in the country is expected to generate substantial revenue for the tire fabrics market in the country. Furthermore, in FY2021, the Finance Minister of India announced a scheme worth INR 18,000 crore to support public transport in urban areas across the nation, which further contributes to the Nylon Tire Yarn market.
Based on region, the India Nylon Tire Yarn (NTY) Market is segregated into North, South, East, and West. In the historic period of FY2015-FY2022, West India has been majorly dominating the market followed by South India. Gujarat and Maharashtra are the leading consumers of Nylon Tire Yarn (NTY) owing to the presence of major plasticizer and tire manufacturers such as factories located in these western states.
Based on end-use, the India Nylon Tire Yarn (NTY) market is segregated into Tire and Others. Among these, the tire industry is dominating the Nylon Tire Yarn (NTY) market with a market share of 95% in FY2022 and is expected to dominate the market in the forthcoming years.
Major players in the India Nylon Tire Yarn (NTY) market are SRF Limited and Century Enka Limited. Rest of the demand is met via imports.
Years considered for this report:
Historical Period: FY2015-FY2022
Base Year: FY2022
Estimated Year: FY2023
Forecast Period: FY2024- FY2030
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Objective of the Study:
• To assess the demand-supply scenario of Nylon Tire Yarn (NTY) which covers production, demand and supply of Nylon Tire Yarn (NTY) market in India.
• To analyse and forecast the market size of Nylon Tire Yarn (NTY) in India.
• To classify and forecast India Nylon Tire Yarn (NTY) market based on end-use and regional distribution.
To extract data for India Nylon Tire Yarn (NTY) market, primary research surveys were conducted with Nylon Tire Yarn (NTY) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for India Nylon Tire Yarn (NTY) market over the coming years.
ChemAnalyst calculated Nylon Tire Yarn (NTY) demand in India by analyzing the historical data and demand forecast which was carried out considering the demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Nylon Tire Yarn (NTY) to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Organizations, forums and alliances related to Nylon Tire Yarn (NTY) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Nylon Tire Yarn (NTY) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, India Nylon Tire Yarn (NTY) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Growth Rate
CAGR of 4.78% from FY2023 to FY2030
Base year for estimation
FY2023
Historic Data
FY2015 – FY2022
Forecast period
FY2024 – FY2030
Quantitative units
Demand in thousand tonnes and CAGR from FY2023 to FY2030
Report coverage
Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap
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Member - Board of Directors
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What is the expected CAGR of India market size growth of Nylon Tire Yarn (NTY) till FY2030?
Ans:
The India market size of Nylon Tire Yarn (NTY) is anticipated to grow at a CAGR of 4.78% in the forecast period till FY2030.
Q2.
Which industry is dominating the India Nylon Tire Yarn (NTY) market?
Ans:
As of FY2022, Tire industry is dominating the Nylon Tire Yarn (NTY) market in India with a share of roughly 95%.
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