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.
Access Full Research Report Global Caprolactam Market:
http://www.grandviewresearch.com/industry-analysis/caprolactam-market
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.
View more reports of
this category by Grand View Research at: 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
- U.S.
- Europe
- Germany
- UK
- Asia
Pacific
- China
- India
- Latin
America
- Brazil
- MEA
Access press release of this research report by Grand
View Research: http://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