Caprolactam Market is Expected to Reach Worth $15.6 billion by 2023


Posted June 20, 2019 by abhijeetw1

The market for caprolactam is estimated to grow from USD 13.1 billion in 2018 to USD 15.6 billion by 2023, at a CAGR of 3.59%

 
The report "Caprolactam Market by Application (Nylon 6 Fibers (Textile, Industrial, Carpet Filament, Staple Fiber), Nylon 6 Engineering Plastics (Automotive, Electrical & Electronics, Industrial & Machinery, Wire & Cable), Region - Global Forecast to 2023"The caprolactam market is expected to grow from USD 13.1 billion in 2018 to USD 15.6 billion by 2023, at a CAGR of 3.59% during the forecast period. The major factors driving the caprolactam market include the need for lightweight vehicles, the growth of films and coatings applications, and the growth of emerging economies.

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Key Market Players
The major players in the caprolactam market are AdvanSix Inc. (US), Alpek S.A.B. de C.V. (Mexico), The Aquafil Group (Italy), BASF SE (Germany), Capro Co. (South Korea), China Petrochemical Development Corporation (Taiwan), Domo Chemicals (Germany), Grupa Azoty (Poland), Gujarat State Fertilizers & Chemicals Limited (India), Highsun Group (China), KuibyshevAzot PJSC (Russia), Lanxess AG (Germany), Luxi Chemical Group Co., Ltd. (China), China Petroleum & Chemical Corporation (Sinopec) (China), Spolana (Czech Republic), Sumitomo Chemical Co., Ltd. (Japan), Toray Industries, Inc. (Japan), Ube Industries, Ltd. (Japan), and Zhejiang Hengyi Group Co., Ltd. (China).

Application -
Nylon 6 Fibers (Textile, Industrial, Carpet Filament, Staple Fiber)
The nylon 6 fibers segment is expected to account for the larger share of the caprolactam market.

The nylon 6 fibers segment is the largest and fastest-growing application of caprolactam. Caprolactam is used widely in polyamide 6 for manufacturing washable domestic textiles. Polyamide 6 fabrics are dimensionally stable and smooth. The applications of polyamide 6 in the textile industry are classified into apparel, home furnishings, and industrial. Polyamide fabrics have properties such as high elasticity and resistance to mildew and moths. Due to these properties, they are used in nets, stockings, female underclothes, parachutes, and sporting garments, thereby, driving the demand for caprolactam.

Browse 137 market data Tables and 54 Figures spread through 197 Pages Here - https://www.marketsandmarkets.com/PressReleases/caprolactam.asp

APAC is expected to account for the largest market share during the forecast period.

APAC has emerged as the leading consumer and producer of caprolactam. The APAC region is witnessing increased demand for luxury cars due to the increase in purchasing power of consumers. This has led to increased polyamide 6 demand in the region, which, in turn, is driving the nylon 6 engineering plastics segment. Prices for caprolactam are expected to rise in the APAC region due to anti-dumping sanctions imposed by the Government of China. These factors are further driving the demand for caprolactam in the region.

Contact -
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: [email protected]
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Issued By marketsandmarkets
Country United States
Categories Business , Industry , Manufacturing
Tags caprolactam , caprolactam market
Last Updated June 20, 2019