Caprolactam Market Insights, Analysis and Forecast up to 2025

 

Caprolactam Market

Because of their high tensile strength and suppleness, nylon 6 fibre and resin have a wide range of uses in the automotive and textile industries. To increase fuel efficiency and performance, automakers are emphasising vehicle light weighing. As a result of their excellent temperature and chemical resistance, polyamide 6 and nylon 6 are increasingly replacing metallic parts in automobiles. Polyamide 6 or nylon 6 is used to make door handles, air bag canisters, radiator grilles, relay boxes, air intake manifolds, and engine covers, among other things. Also, due to its excellent electrical insulation and low weight compared to metal tubes, nylon 6 has a wide range of uses in the electrical and electronic equipment business, including circuit breakers, voltage switchgears, contactors, and tubes for wiring and cables.

In addition, the rising number of women in the workforce, increased westernization, rising disposable income, and rising demand for convenience food throughout the world are predicted to drive demand for speciality packaging films. Nylon 6 is an important component in specialised films. Due to the booming expansion of numerous end-use industries in China and India, the market is likely to gain traction in Asia Pacific. In 2016, the nylon 6 fibres category accounted for 52.94 percent of sales, according to Coherent Market Insights.

According to Coherent Market Insights, The global Caprolactam Market size is estimated at US$ 11,453.48 million (revenue) and 5,747.09 kilo tons (volume) in 2016 and is expected to expand at a CAGR of 4.6% in terms of revenue and 2.7% in terms of volume from 2017 – 2025.

Polyamide 6 was first used in the automobile industry in the 1950s. The application was confined to automotive seat coverings and a few tiny items. The use of polyamide 6 in the automobile industry rose dramatically after 2000. Strength-weight matrices are crucial in new-generation automobiles. Lightweight and sturdy constructions composed of various modern materials are the foundation of new generation automobiles.

Different car parts utilise these sophisticated materials. To minimise the overall weight of the vehicle, new materials and polymers are used instead of metal. Polyamide 6 is one of the most common lightweight materials used in automobiles today. The weight reduction is made to reduce the consumption of fuel in the vehicle, ultimately resulting in less CO2 emissions. The polyamide parts are lightweight and provide better strength than the metal parts.

The primary issue for the Caprolactam Market is projected to be falling caprolactam costs owing to increased production capacity and overstock. As a result, beginning in 2011, ongoing caprolactam manufacturing capacity reductions have been implemented to ensure supply and price stability. BASF SE announced intentions to cut caprolactam output at its Ludwigshafen facility by 100,000 MT over the next 18 months on September 12, 2016. DSM Chemicals also plans to close its caprolactam factory in the United States by the end of 2017. Furthermore, according to Coherent Market Insights, several current caprolactam facilities are projected to close throughout the projection period due to China's continued caprolactam oversupply.

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