Caprolactam Market is expected to grow at 5.12% CAGR during the forecast period 2019 to 2025
Published | 10 September 2019
According to BlueWeave
Consulting, the Global Caprolactam Market was valued US$14.7 billion in 2018
with a CAGR of 5.12% during 2019-2025. Owing to their preferred properties like
high strength, dimensional stability, high creep resistance, and chemical
resistance. The growth attributed to augmented usage of these products in
various industries such as Automotive, Electrical & Electronics, Industrial
& Machinery, Wire & Cable, and Carpet Filament.
Increasing disposable income
of consumers and advancement of technologies to manufacture lightweight vehicle
will fuel the demand of nylon 6 which will lead to the massive growth of
caprolactam market in next five years. More than 60% of caprolactam is consumed
in the production of nylon fibers in the textile industry, for carpet and industrial
yarns and also utilized in engineering resins and films across the globe.
Growing demand for
engineering plastics and films in manufacturing of numerous automotive parts
including engine covers, gears, and bearings owing to their resistance to oils
and greases is expected to drive product growth. Technological innovations
geared at improving the manufacturing process of caprolactam, in order to
minimize the production of ammonium sulfate as it is hazardous to the
environment, is anticipated to have a positive impact on the product demand. A
rise in the fabrics industry will increase the growth opportunities for the
market. Other than this, the growing use of nylon 6 in engineering plastics and
films, floor coverings, and in the production of industrial yarns will push the
sales in the coming years.
Nylon
6 fibers application is projected to be the most lucrative segment of the
global caprolactam market during the forecast period
In terms of application, the
nylon 6 fiber accounted for the largest market share in 2018 and is projected
to dominate the global caprolactam market throughout the forecast period.
Rising demand in application of nylon fibers in the automotive industry is
likely to drive positive growth in of this market. The fiber has excellent
durability and outstanding physical properties. Textile is an area of important
end-use for polyamide. These properties of caprolactam aid the end-product to
exhibit pleasant tactical qualities, lighter weight, and higher strength. The
most commonly used polyamide textiles are produced from polyamide 6, polyamide
66, and other co-polyamides.
The
Asia Pacific accounts for the lion’s share of the global caprolactam market
during the forecast period
Geographically, the
caprolactam market is analyzed across North America, Europe, Asia Pacific,
Middle East & Africa, and Latin America. The Asia Pacific is the leading
region during the forecast timeline. The regional growth was primarily driven
by positive growth in the industries such as the automotive and textile
industry. Infrastructure development and improving socio-economic trends are
some of the significant factors contributing to the growth. Favorable
regulations, availability of workforce, and government initiatives to provide
attractive FDI regulations have resulted in a shift of manufacturing bases of
significant players to regions like China, India, and Indonesia.
Global
Caprolactam Market: Competitive Landscape
Companies such as AdvanSix
Inc., Alpek S.A.B. de C.V., The Aquafil Group, BASF SE, Capro Co., China
Petrochemical Development Corporation, Domo Chemicals, Grupa Azoty, Gujarat
State Fertilizers & Chemicals Limited, Highsun Group, KuibyshevAzot PJSC,
Lanxess AG, Luxi Chemical Group Co., Ltd., China Petroleum & Chemical
Corporation (Sinopec), Spolana, Sumitomo Chemical Co., Ltd., Toray Industries,
Inc., Ube Industries, Ltd., and Zhejiang Hengyi Group Co., Ltd. are the leading
players of caprolactam market across the globe.
Browse Detailed Analysis
with TOC, “Global Caprolactam Market, By
Application (Nylon 6 Fibers, Nylon 6 Resins, and Films), By End-use (Textile
Yarn, Industrial Yarn, Engineering Plastics, and Carpet fibers & staple
fiber), By Raw Material (Cyclohexane, Phenol and Toluene), By Region (North
America, Europe, Asia Pacific, Middle East & Africa and Latin America),
Price Trend Analysis, Competitive Market Share and Forecast, 2015-2025”
At
The in-depth analysis of the
report provides the growth potential, upcoming trends and statistics of global
caprolactam market size & forecast. The report promises to provide
state-of-the-art technology of caprolactam production and industry insights
which help decision makers to take sound strategic decisions. Furthermore, the
report also analyzes the market drivers and challenges and competitive analysis
of the market.
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