Caprolactam Market Size Worth $15.74 Billion By 2022

The global caprolactam market is projected to reach USD 15.74 billion by 2022, according to a new report by Grand View Research, Inc. rising need for nylon 6 resins and fibers, on account of the growing electronics industry in China, has resulted in a significant increase in demand for the product over the past few years.

Growth of the automotive industry, particularly in emerging economies of China, Brazil and India, coupled with rising disposable income of consumers, is expected to augment engineering plastics demand. Development of the fabrics industry is also anticipated to result in high product demand over the forecast years. Nylon 6 is employed in numerous applications including the production of industrial yarns, floor coverings, engineering plastics, and films. Growth in these end-use segments is expected to augment product demand, which will further have a positive impact on the industry growth over the forecast years.

Caprolactam manufacturing requires low technical complexity and low initial infrastructure investment. High demand for nylon 6 resins and fibers has resulted in a significant demand for the product over the past few years, and this trend is expected to continue over the forecast period. In addition, technological innovations are being done to improve manufacturing process of the product in order to minimize the release of ammonium sulfate (by-product), due to its hazardous nature, is expected to have a positive impact on the industry.

Textile yarn was the largest application segment of caprolactam in 2015. Caprolactam is extensively used in the production of nylon 6 fibers. Nylon fabric is employed in the manufacturing of various apparel including sport wear, cycle wear and swim wear. In addition, nylon 6 fibers are used in manufacturing house furnishings. Growing demand for nylon fabric in the textile industry is expected to augment product demand over the next seven years.

Asia Pacific was the largest market for caprolactam in 2015, and this trend is expected to continue over the forecast period. Growth of the textile industry, coupled with the growing automotive sector especially in India and China, is expected to positively impact the market. In addition, encouragement of FDI in the automobile sector in India, is expected to drive production in the country, thus driving the demand for caprolactum.

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https://www.grandviewresearch.com/industry-analysis/caprolactam-market

Further key findings from the report suggest:

About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

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I am working in Market Research Company. So my job in research is to provide answers & guidance to our clients as they relate to marketing and consumer science.