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.
Browse full research report on Caprolactam Market: 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.
Browse more reports of this category
by Grand View Research: 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
- U.S
- Europe
- UK
- Germany
- Asia Pacific
- China
- India
- Central &
South America
- Brazil
- Middle East
& Africa
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.
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