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Caprolactam Market - Segmented by Raw Material, End-Product, Application, End-user Industry, and Geography - Growth, Trends, and Forecast (2019 - 2024)

Caprolactam Market - Segmented by Raw Material, End-Product, Application, End-user Industry, and Geography - Growth, Trends, and Forecast (2019 - 2024)

  • January 2019
  • 143 pages
  • ID: 5778114
  • Format: PDF
  • By Mordor Intelligence LLP

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The caprolactam market is expected to witness a moderate CAGR during the forecast period (2019 - 2024). The major factors driving the market are an increase in demand for Nylon 6 and an increase in demand for lightweight vehicles in automobile industry. 

Increasing Demand from Automotive Industry

Nylon 6 fibers are increasingly used in the automotive sector in tire cord manufacturing, 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 caprolactam market.

Nylon Fibers Segment to Dominate the Market

Tcaprolactamtum 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 caprolactam 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.

Key Developments
- 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.

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