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.
In depth research report on 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.
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
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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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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