GLOBAL CAPROLACTAM MARKET SIZE & ANALYSIS FORECASTS TO 2025 By Application (Nylon 6 Fibres , Nylon 6 Resins), By End-Use (Textile, Industrial, Carpet, Automotive, Film & Coating, Machinery, E&E, Consumer Goods, Appliances, Wire & Cable, & Others), By Region (North America, Europe, Asia-Pacific, Central & South America, and Middle East & Africa), End-use Landscape, Vendor Landscape and Company Market Share & Competitor Analysis
The global caprolactam market is projected to grow at a significant CAGR during the forecast period. The market is expected to be influenced by factors such as increasing demand for plastics by the end-user industries including automotive, construction and electrical & electronics among others. Accordingly, rising demand for engineering plastics and films in manufacturing various automotive parts such as gears and engine covers is also estimated to be one of the major factors influencing market growth.
The industry is expected to be influenced by properties of caprolactam such as superior strength, oil resistance, elasticity, chemical resistance and low moisture absorbency among others. Stringent government regulations aimed at reducing the production of ammonium sulfate is projected to generate untapped opportunities for the use of caprolactam as monomers for the production of polymers.
However, factors such as the irritant nature of the product coupled with its mildly toxic behavior among others are projected to affect the profitability of the industry.
Request a free sample copy of the report @ https://www.globalmarketestimates.com/global-caprolactam-market/
Caprolactam Market: Material Type Insights
Based on the material type, the industry can be segregated into engineering plastics and fibers. The market for engineering plastics is anticipated to grow exponentially in the forecast period. This can be associated with factors such as increasing demand for engineering plastics for manufacturing various automotive parts such as gears and engine covers. Along with this, growing application of engineered plastics in light-weight vehicles on account of the high mechanical strength and low moisture absorption is also projected to propel market growth.
By application, the market is segmented into nylon 6 fibers and nylon 6 resins. The nylon 6 fibers segment is expected to record the highest CAGR over the forecast period. Rising application of the product in the production of curtains, raincoats, sportswear, threads, ropes and racket strings among others are anticipated to favor the market.
Nylon 6 resins are anticipated to grow at a high rate in the coming years. This growth is attributed to growing application of the product in manufacturing fitting , fan blades, gears, emission control canisters and power steering fluids among others.
The global caprolactam market can be segmented into Textile, Industrial, Carpet, Automotive, Film & Coating, Machinery, E&E, Consumer Goods, Appliances, Wire & Cable, based on end-users. The textile segment is projected to hold the largest share of the industry in the forecast period. Increasing application of the product in the making of curtains, bedspreads, carpets, and upholstery is anticipated to stimulate the demand over the coming years.
The automotive segment is also expected to grow at a significant CAGR over the forecast period owing to rising demand for lightweight polyamide 6 from auto component manufacturers.
The caprolactam market in the Asia Pacific accounted for a substantial market share during the forecast period and is further anticipated to grow at a high CAGR over the coming years. India and China are likely to be the major revenue contributors to the overall regional market due to rapid industrialization coupled with growing automotive sector. The rising trend of disposable income is also anticipated to fuel market growth.
Other regions including North America and Europe are also projected to grow at a considerable rate attributing to increasing application of engineered plastics in light-weight vehicles owing to high mechanical strength and low moisture absorption.
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase caprolactam over the coming years. Some leading consumers of caprolactam are Admiral Sportswear, Airness, Bruno Banani, Barking Irons, Honda Motor, Fiat-Chrysler, Ford Motor and Hyundai-Kia.
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures , equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies .
Some of the players operating in the global caprolactam market include BASF SE, Royal DSM N.V. SINOPEC, UBE Industries, Honeywell International, Capro Co., China Petroleum & Chemical Corporation, Shandong Haili Chemical Industry, LANXESS AG and China Petrochemical Development Corporation among others.
In January 2018, Genomatica announced its agreement with Aquafil, a producer of polyamide 6. As per the agreement, the companies are to develop a commercial process for sustainable nylon. Aquafil is projected to license Genomatica’s technology which would help in making nylon raw material caprolactam from sugar with genetically modified microbes.
In March 2018, Gujarat State Fertilizers and Chemicals (GSFC) announced commissioning a plant in order to produce film grade nylon. The plant is estimated to produce 15 tonnes/ day of film grade nylon of varieties such as nucleated chips, lubricated chips, and a combination of both. Along with this, GSFC also successfully commissioned its caprolactam quality improvement project which would help to produce an additional 1,000 tonnes of caprolactam and 3,500 tonnes of ammonium sulphate p.a. as byproduct.
Browse the complete report @ https://www.globalmarketestimates.com/global-caprolactam-market/
No comments:
Post a Comment