caprolactam is expected to prompt the market growth. Caprolactam is widely used in the production of film coatings, textile yarns, plastics, plasticizers, synthetic leather, textile stiffeners, and others
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Market Highlights:
Market Research Future (MRFR) in its latest report on the global caprolactam market is states that the market is expected to capitalize with a CAGR of 8.1% between 2016 and 2022. The global caprolactam market is predicted to touch a substantial valuation of USD 14.9 billion by 2019.
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Key Players:
Royal DSM N.V.
Shandong Haili Chemical Industry Co. Ltd.
UBE Industries
Honeywell International Inc
China Petroleum & Chemical Corporation
BASF SE
Kuibyshevazot Ojsc
Lanxess Ag
China Petrochemical Development Corporation (CPDC)
Sumitomo Chemical Company Limited
Market Analysis
The extensive number of applications of caprolactam is expected to prompt the market growth. Caprolactam is widely used in the production of film coatings, textile yarns, plastics, plasticizers, synthetic leather, textile stiffeners, and others. Caprolactam is the crucial material for the production of nylon 6. The wide range of application of nylon 6 in different sectors like electronic and electrical, automobile, and consumer goods can also bolster the caprolactam market expansion. Features like chemical resistance and damage from oils and abrasion of nylon 6 can spur the sales number of caprolactam. The high-temperature resistance offered by caprolactam aids in the manufacturing of different dyed capable of producing desired color for brilliant aesthetic appeal. Hence, the flourishing textile industry is also expected to bolster the caprolactam market over the evaluation period. Rapid industrialization is observed to stimulate the caprolactam market due to its diversified applications across several sectors.
Additionally, caprolactam is also used in the production of fishing nets, sports equipment, and ropes. Hence, the surging commercial significance of caprolactam can spur the global caprolactam market growth.
Segmental Overview
The global caprolactam market has been segmented on the basis of source and end-use. MRFR’s segmental study of caprolactam market helps in the identification of several growth windows of the market. This assists in designing strategies that can shoot up the market growth.
Based on the source, the caprolactam market study has been segmented into cyclohexane, phenol, and toluene.
Based on the end-use, the caprolactam market has been segmented into film coatings, textile yarns, plastics, plasticizers, synthetic leather, textile stiffeners, and others.
Regional Outlook
Based on the region, the caprolactam market has been studied across the following regions, Asia Pacific, North America, Europe, and the Rest of the World (RoW). The regional progress of the caprolactam market can be comprehended from the regional outlook section.
The caprolactam market in the Asia Pacific region is expected to witness a massive growth in the coming years. The hike in sales number of caprolactam due to its extensive applications can trigger the caprolactam market expansion. Owing to the high production rate of caprolactam the region market growth is likely to escalate. The huge number of consumers of caprolactam in the Europe is expected to spur the regional caprolactam market growth over the assessment period. The burgeoning automotive and textile industries in the Asia Pacific region, which use large amount of caprolactam are likely to boost the regional market growth. Where, Asia Pacific and Europe are predicted to exhibit a robust growth, the North American caprolactam market can demonstrate a stagnancy in growth.
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Name: Abhishek
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Organization: Market Research Future
Address: WantStats Research and Media Pvt. Ltd. Office No. 528, Amanora Chambers Pune – 411028 Maharashtra, India
Website: https://www.marketresearchfuture.com/reports/caprolactam-market-2255
Source: MarketersMedia
Release ID: 88903084
