The global Caprolactam Market is projected to reach USD
15.74 billion by 2022, according to a new report by Grand View Research, Inc.
Rising need for nylon 6 resins and fibers, on account of the growing
electronics industry in China, has resulted in a significant increase in demand
for the product over the past few years.
Growth of the automotive industry,
particularly in emerging economies of China, Brazil and India, coupled with
rising disposable income of consumers, is expected to augment engineering
plastics demand. Development of the fabrics industry is also anticipated to
result in high product demand over the forecast years. Nylon 6 is employed in
numerous applications including the production of industrial yarns, floor
coverings, engineering plastics, and films. Growth in these end-use segments is
expected to augment product demand, which will further have a positive impact
on the industry growth over the forecast years.
Caprolactam manufacturing requires low
technical complexity and low initial infrastructure investment. High demand for
nylon 6 resins and fibers has resulted in a significant demand for the product
over the past few years, and this trend is expected to continue over the
forecast period. In addition, technological innovations are being done to
improve manufacturing process of the product in order to minimize the release
of ammonium sulfate (by-product), due to its hazardous nature, is expected to
have a positive impact on the industry.
Textile yarn was the largest application
segment of caprolactam in 2015. Caprolactam is extensively used in the
production of nylon 6 fibers. Nylon fabric is employed in the manufacturing of
various apparel including sport wear, cycle wear and swim wear. In addition,
nylon 6 fibers are used in manufacturing house furnishings. Growing demand for
nylon fabric in the textile industry is expected to augment product demand over
the next seven years.
Asia Pacific was the largest market for
caprolactam in 2015, and this trend is expected to continue over the forecast
period. Growth of the textile industry, coupled with the growing automotive
sector especially in India and China, is expected to positively impact the
market. In addition, encouragement of FDI in the automobile sector in India, is
expected to drive production in the country, thus driving the demand for
caprolactum.
Full Research Report On caprolactam market Analysis:https://www.grandviewresearch.com/industry-analysis/caprolactam-market
Further key findings from the report suggest:
·
The global caprolactam is
anticipated to reach 7,200.5 kilotons by 2022, at a CAGR of 4.9% from 2015 to
2022
·
In terms of revenue, the
textile yarn segment is projected to grow at a CAGR of 5.4% over the forecast
period owing to the increasing demand from the household furnishings segment.
·
The nylon 6 application segment
dominated the global industry with a share of over 55.6% of the revenues in
2014.
·
The U.S. caprolactam market
volume is anticipated to exceed 705.9 kilotons by 2022.
·
Europe is projected to witness
a remarkable growth rate of 8.7% over the forecast years, owing to the presence
of a large number of automobile manufacturers in the region
·
Asian countries, especially
India and China, are expected to observe a remarkable growth in next few years
owing to growth of textiles and automotive industry in the region.
·
The market for caprolactam is
highly competitive with the presence of a number of multinational companies
with huge product portfolios
·
Some of the key companies
present in the market are Sumitomo Chemical Co., Ltd., UBE Industries, Ltd.,
DSM, Capro Co., China Petrochemical Development Corporation and LANXESS AG.
View More Reports Of This Category By Grand View Research
At: https://www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Grand View Research has segmented the
caprolactam market on the basis of application, end-use and region.
Application Outlook (Volume, Kilotons; Revenue, USD
Million; 2012 - 2022)
·
Nylon 6
·
Nylon 6 resins
End-use Outlook (Volume, Kilotons; Revenue, USD Million;
2012 - 2022)
·
Textile yarn
·
Industrial yarn
·
Engineering Plastics
·
Carpet fibers & staple
fibers
Regional Outlook (Volume, Kilotons; Revenue, USD Million;
2012 - 2022)
·
North America
o U.S
·
Europe
o UK
o Germany
·
Asia Pacific
o China
o India
·
Central & South America
o Brazil
·
Middle East & Africa
View Press
Release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-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
For More Information: www.grandviewresearch.com