According to ChemAnalyst report, “India Nylon Tire Yarn (NTY) Market Analysis: Demand & Supply, End-User Industries, Sales Channel, Regional Demand FY2015-FY2030” The India Nylon Tire Yarn (NTY) market is anticipated to grow at a CAGR of 4.78% during the forecast period due to the growing demand for Nylon Tire Yarn (NTY).
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 a copper-based organic compound. In the polymerization process, there are ring-opening polycondensation and polyaddition reactions take 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. Nylon Tire Yarn displays remarkable properties like strong wear resistance, excellent impact resistance, high toughness, and strong rubber adhesive properties, Nylon Tire Yarn is used in various industries.
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Nylon Tire Yarn (NTY) is heavily used in the automobile sector. The market for vehicles and two-wheelers has increased due to the growing middle class and its higher living standards, which has led to the market’s expansion. Furthermore, the progressive 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. 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.
The India Nylon Tire Yarn (NTY) market is segmented based on end-use, sales channel, and region. 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.
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, Maharashtra, and Rajasthan 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.
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According to ChemAnalyst report, “India Nylon Tire Yarn (NTY) Market Analysis: Demand & Supply, End-User Industries, Sales Channel, Regional Demand FY2015-FY2030”, 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.
“Nylon Tire Yarn (NTY) is a versatile synthetic fiber which is majorly used in the automobile sector. Owing to its high-impact strength and durability, Nylon Tire Yarn (NTY) works as a terrific material to manufacture tires for usage in the automobile sector, which is majorly driving the India Nylon Tire Yarn (NTY) market. The market is expanding due to rising government initiatives to support public transport expansion further contributes to the Nylon Tire Yarn market expansion. ”said Mr. Karan Chechi, Research Director with TechSci Research, a research based India management consulting firm promoting ChemAnalyst.
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