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.
View summary of this report @ 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
For press release of this report - http://www.grandviewresearch.com/press-release/global-caprolactam-market
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