As of 2007[update], nylon continued to represent about 12% (8 million pounds) of the world's production of synthetic fibers.[3] As one of the largest engineering polymer families, the global demand of nylon resins and compounds was valued at roughly US$20.5 billion in 2013. The market is expected to reach US$30 billion by 2020 by following an average annual growth of 5.5%.[44]