Caprolactam Market Overview to 2022:
Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “Global caprolactam market size is estimated at USD 14.9 billion in 2019. The market is expected growth over the forecast period owing to its various use as a feedstock in the production of nylon 6 fibers and resins. Properties such as high strength, elasticity, abrasion resistance, chemical & oil resistance, along with low moisture absorbency of nylon fibers and resins are expected to result in high requirement of the product. Growing textile industry coupled with upcoming automobile sector is expected to fuel demand over the next seven years. In-addition, rising consumption of plastics for automotive, electrical & electronics and construction applications is expected to be a key driver for the industry over the forecasted period. However, fluctuating price of raw material is expected to hinder the market growth.
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Various companies are investing in R&D in order to improve technological advancement for cost-effective manufacturing have been key factors responsible for augmenting growth over the past few years. Additionally, recent invention on Bio-based caprolactam will aid the market in growing at faster pace. Regulatory approval from the U.S., EU and EPA for using the product in manufacturing nylon 6 fibers, resins is expected to fuel demand. Rising disposable income coupled with increasing penetration of players due to new product launches in China and India is expected to aid in the growth of textile industry. Robust manufacturing base of textile industry coupled with growing demand in Germany, Italy, France and UK is expected to drive caprolactam industry growth over the forecast period.
Textile yarn was the second largest market in 2016, accounting for over XX% of volume share in 2016 growing demand for textile yarn for manufacturing apparels, sportswear, fashion wear and swimwear is expected to have a positive impact on the industry over the forecast period.
Industrial yarn was the second largest end-use valued over USD 2.08 billion in 2016. Besides increasing consumption of industrial yarn for manufacturing cordage, slings, mechanical rubber goods and geotextiles is expected to result in increasing requirement of the chemical over forecasted period.
Plastics demand exceeded 950.0 kilo tons in 2015. Growth of the automotive industry, particularly in developing economies of China, Brazil and India due to rising disposable income of consumers will accelerate its demand. Development of fabrics industry is expected to result in high consumption over the next seven years.
Asia Pacific caprolactam market accounted for over 55.0% of global revenue share in 2016. Rapid industrialization leading to establishment of numerous automotive and appliance manufacturing plants, particularly in India and China, is expected to have a positive impact on industry growth over the next seven years.
Europe was the second largest market, valued at over USD 3.10 billion in 2016. Increasing R&D for the production of bio-based products in the region is expected to have a favorable impact on growth over the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of key vendors.
The market is classified and analyzed on the basis of various geographic segmentation which includes; Americas, Europe, Asia-Pacific, Middle East and Africa. Out of these, APAC accounts for the largest share owing to technological advancement in manufacturing industries particularly in country like China and Japan. China is the leading producer in the emulsion polymers market due to its growing population, development in infrastructure and increase in consumer spending. Paints & coatings market is growing rapidly in China due to increase in government expenditure in infrastructure and the blooming automotive industry. North America and Europe are expanding their business in the emulsion polymers market. Europe showed a steady flow due to restrains from government in using chemicals on a large scale. Countries like Indonesia, Thailand and Brazil are the growing market for emulsion polymers due to favorable government regulations and tax subsidies here.
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