Global Caprolactum Market - Segmented by Raw Materials, End Product, Application, End-User Industry and Region - Growth, Trends and Forecast (2018 - 2023)
The caprolactum market is expected to witness a CAGR of approximately 4.9% during the forecast period (2018 - 2023). The major factors driving the market are the rising demand for nylon 6, the increasing demand from the automotive industry leading to the growth in the industrial yarns market, and the rise in the demand from the engineering resin & films application.
Increasing Demand from Automotive Industry
Nylon 6 fibers are increasingly used in the automotive sector in tire cord manufacture, engine covers, gears, and bearings, owing to their intrinsic properties, such as great tensile strength, durability, and fatigue resistance. Caprolactam is increasingly replacing metals in various automotive applications, such as air intake manifolds in the nylon 6 resin. Therefore, the growing automotive sector is expected to drive the industrial yarns market, which in turn, will drive the caprolactum market.
Nylon Fibers Segment to Dominate the Market
The caprolactum market is segmented on the basis of raw materials, end-product, application, and end-user industry. Based on the end-product, Nylon 6 fibers are the major end-products and have an approximately 53% market share. Owing to the superior chemical as well as physical characteristics of caprolactam, such as lightweight and high tensile strength, nylon 6 fibers are increasingly used in various textile and carpets applications.
Asia-Pacific Showing a Positive Growth
Asia-Pacific is the largest market for caprolactum and it accounts to more than 65% of the global market, in terms of demand. This is due to a strong need from the engineering plastics and textiles industries. China is the world’s largest market for caprolactam. Asia-Pacific is expected to show a positive growth during the forecasted period due to a rise in the textile and automotive industries in the region.
March 2018: Genomatica and Aquafil have collaborated to commercialize a Genomatica process for making caprolactam derived from renewable feedstocks rather than from petroleum.
Major Players: BASF SE, China Petroleum and Chemical Corporation, Honeywell Chemical Intermediates, and Sumitomo Chemical Company, among others.
Reason to Purchase this Report
To understand the impact of various end-product on the market.
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating application and end-user industry in the market
To identify the countries that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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