iCrowdNewswire Jan 21, 2021 11:00 AM ET
The global caprolactam market was valued at USD 14 billion in 2019 and is estimated to reach USD 17 billion by 2026, expanding at a CAGR of 4% during the forecast period, 2020 – 2026. The growth of the market is attributed to increasing demand for plastic in automotive, electronics, and construction sector.
Caprolactam is an organic compound, it is a lactam of caproic acid and is a colorless solid. The market is projected to grow at a significant rate on account of rising demand for industrial yarn and expanding automobile industry. The market is mainly driven by increasing demand for nylon 6 production. The compound hydrolyses takes the form of aminocaproic acid in water, which is used for medical purpose. Caprolactam is gradually substituting metals in automotive applications. More than 60% of caprolactam is used in the manufacturing of nylon fibers, for industrial yarns and carpet and also used in films and engineering resins across the world. The main factors improving the caprolactam market is the increasing need for lightweight vehicles and the growth of coatings applications and films. Continuous research and development is resulting in technological innovations for cost effective production is the key factors responsible for the growth. Increasing disposable incomes, growing penetration of players due to launch new products, is projected to promote textile industry growth.
Get Exclusive Free Sample Report @ https://dataintelo.com/request-sample/?reportId=7807
Market Trends, Drivers, Restraints, and Opportunities:
- The increasing need for lightweight automotive vehicles. New generation vehicles are based on the value of strong structures and lightweight advanced material. The metal usage is substituted by these plastics and advanced materials to reduce the total weight of the vehicle.
- One of the major drivers in the market is the increasing purchasing power of customer in the developing countries. The clothing industry in these countries has observed a substantial growth, due to the growth of middle class population and high purchasing power, which is responsible for the increasing the demand for caprolactam.
- Instability in raw material prices for producing the compound is one of the major restraint identified in the market. Concentration of demand for the compound and unstable raw material prices are the key challenges for caprolactam market. The companies producing the compound are witnessing variability in profit margins, owing to constant fluctuation in the prices of the raw materials, which ultimately force these companies to postpone their expansion plants.
- Some of the companies producing the compound faces challenges of inadequate infrastructure and strict regulation.
- Polyamide 6 is prepared from the polymerization of caprolactam and have properties such as high abrasion resistance, high thermal resistance, strength, and stiffness, but the absorption of moisture is an important factor considered during its selection. The products containing polyamide that absorbs moisture decreases their physical properties and make the product stiff. This in turn is a major drawback for the market.
- The caprolactam market is increasing exponentially in emerging economies, due to rapid urbanization and industrialization. The increasing demand for clothing and automobile is encouraging the demand for caprolactam. Emerging countries is expected to achieve greater economic development during the forecast period, resulting in increased per capita income. This factor in turn, is expected to create growth opportunity for the market.
- Major trend observed in the caprolactam market is upcoming expansions and investments. Caprolactam is rapidly replacing metals in automotive applications. End product manufacturers, research and development, and manufacturing associations is expected to impart high investments for technology modifications and future expansions of the compound.
Major players in the market include Spolana, AdvanSix Inc., The Aquafil Group, BASF SE, Domo Chemicals, KuibyshevAzot PJSC, Capro Co., Grupa Azoty, Luxi Chemical Group Co., Ltd., Sumitomo Chemical Co., and Toray Industries, Inc. The key market players are engage in strategy such as new product launch.
Segments Covered in the Report
The global caprolactam market has been segmented on the basis of
- Nylon 6 fibers
- Nylon 6 resins
By End use:
- Textile yarn
- Industrial yarn
- Engineering plastics
- Carpet fibers
By Raw Material:
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
If you have any questions on this report, please reach out to us @ https://dataintelo.com/enquiry-before-buying/?reportId=7807
The following is the TOC of the report:
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Caprolactam Market Overview
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Caprolactam Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.4. Market Trends
4.4. Caprolactam Market – Supply Chain
4.5. Global Caprolactam Market Forecast
4.5.1. Caprolactam Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Caprolactam Market Size (000? Units) and Y-o-Y Growth
4.5.3. Caprolactam Market Absolute $ Opportunity
- Global Caprolactam Market Analysis and Forecast by Type
5.1. Market Trends
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Caprolactam Market Size and Volume Forecast by Type
5.3.1. Engineering Plastics
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
DATAINTELO has set its benchmark in the market research industry by providing syndicated and customized research report to the clients. The database of the company is updated on a daily basis to prompt the clients with the latest trends and in-depth analysis of the industry. Our pool of database contains various industry verticals that include: IT & Telecom, Food Beverage, Automotive, Healthcare, Chemicals and Energy, Consumer foods, Food and beverages, and many more. Each and every report goes through the proper research methodology, validated from the professionals and analysts to ensure the eminent quality reports.
500 East E Street, Ontario,
CA 91764, United States.
USA: +1 909 545 6473
Keywords: Caprolactam Market size, Caprolactam Market trend, Caprolactam Market growth, Caprolactam Market analysis, Caprolactam Market share, Caprolactam Market forecast