Caprolactam Market Synopsis
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.
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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.
Caprolactam Market – Intended Audience
• High caprolactam manufacturers
• Traders and distributors of high caprolactam
• Application industries
• Potential investors
• Raw material suppliers
• Nationalized laboratory
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.
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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.
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.