Global caprolactam market is
expected to reach USD 15.30 billion by 2022, according to a new report by Grand
View Research, Inc. Rising nylon 6 resin and fiber consumption, on account of
increasing demand for electronics is expected to drive the market. Electronics
industry growth in China has resulted in subsequently driving caprolactam
demand over the past few years.
Caprolactam
manufacturing requires low technical complexity along with lesser initial infrastructure
investment thus encouraging new participants to enter the market. Technological
innovations aimed at improving manufacturing process of the product in order to
minimize release of ammonium sulfate as a by-product on account of its
hazardous nature is expected to have a positive impact on the industry.
North America and Europe
together accounted for over 35% of the global market volume share in 2014.
Increasing focus on R&D for commercial production of bio-based caprolactam
and resultant bio-nylon is expected to open new opportunities for market growth
in the near future.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/caprolactam-market
Further key findings from the report suggest:
·
Nylon 6 resins are expected to witness
significant gains with projected growth at a CAGR of 5.1% from 2015 to 2022.
Increasing consumption of nylon 6 resins for manufacturing of engineering
plastics which are used as technical components in electrical & electronics
and packaging industry is expected to accelerate market growth.
·
Ammonia, cyclohexane, phenol and toluene
are some of the key raw materials used for manufacturing caprolactam. Volatile
raw material prices, limited availability and stringent regulations have been
some of the primary factors challenging market growth.
·
Engineering plastics accounted for over 15%
of the global volume share in 2014. Rapid industrialization coupled with
tremendous growth in the automotive sector, particularly in Asia Pacific, is
expected to have a positive impact on the industry over the forecast period.
Innovation in the field of electronics along with increasing consumption of
smart phones, tablets, laptops and TVs has resulted in driving demand for
engineering plastics, subsequently augmenting market growth.
·
Asia Pacific caprolactam market was
estimated at over 2,940.0 kilo tons in 2014. Encouragement of 100% Foreign
Direct Investment by the Indian government for domestic automobile industry
growth is expected to augment manufacturing sector. This is expected to fuel
nylon 6 resins demand which in turn will have a positive impact on the
caprolactam industry over the next seven years.
·
The global industry is fragmented in
nature, on account of presence of numerous companies globally. These include
Sumitomo Chemicals, Honeywell, BASF, Toray, DSM, Alpek, Ube, Sinopec and
Lanxess.
·
In May 2015, Sumitomo Chemicals increased
contract caprolactam price by USD 70 per metric ton to USD 1,880 per metric
ton. In May 2015, BASF SE increased caprolactam prices by USD 0.05 per pound in
North America.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Grand View Research has
segmented the global caprolactam market on the basis of application, end-use
and region:
Application Outlook (Volume, Kilo Tons, Revenue, USD
Million, 2012 - 2022)
·
Nylon 6 fibers
·
Nylon 6 resins
End-Use Outlook (Volume, Kilo Tons, Revenue, USD Million,
2012 - 2022)
·
Textile yarn
·
Industrial yarn
·
Engineering Plastics
·
Carpet fibers & staple fibers
Regional Outlook (Volume, Kilo Tons, Revenue, USD
Million, 2012 - 2022)
·
North America
o U.S.
·
Europe
o Germany
o UK
·
Asia Pacific
o China
o India
·
Latin America
o Brazil
·
MEA
View Press
Release of this research report by Grand View Research: http://www.grandviewresearch.com/industry-analysis/caprolactam-market
About
Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For
More Information: www.grandviewresearch.com
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