Worldwide Demand for Caprolactam Market is growing at an impressive CAGR of 4.6%, 2017-2025

 

Caprolactam Market

Because of Caprolactam high tensile strength and suppleness, nylon 6 fibre and nylon 6 resin have several uses in the automotive and textile industries. Vehicle weighing is being prioritised by automakers in order to increase fuel efficiency and performance. 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, nylon 6 have wide applications in electrical and electronic equipment industry due to high electrical insulation and low weight as compared to metal tubes, which includes circuit breakers, voltage switchgears, contactors, tubes for wiring & cables protection, connectors, among others.

Furthermore, the increasing number of women in the labour force, increased westernisation, rising disposable income, and rising demand for convenience foods throughout the world are predicted to drive demand for specialised films for packaging. 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. According to Coherent Market Insights, the nylon 6 fibres category accounted for 52.94 percent of total sales in 2016.

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.

The primary issue for the caprolactam industry is projected to be falling caprolactam costs owing to increased production capacity and overstock. As a result, beginning in 2011, continual caprolactam manufacturing capacity reductions are being 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. Furthermore, DSM Chemicals intends to close its caprolactam factory in the United States by the end of 2017.

Caprolactam's periodic equation is C6H11NO, and it is an organic chemical without colour that is extensively utilised as a product of synthetic polymer in the creation of nylon. It is widely utilised in the manufacturing of high-performance and high-quality nylon products such as textiles, industrial yarns, carpets, films, and engineering resins and is made by combining phenol, cyclohexane, and toluene. It is also used to make film coatings, bristle brushes, synthetic leather, plasticizers, plastics, and lysine. Furthermore, Caprolactam has great strength and resilience to chemicals, flexibility, abrasion, and grease. It may also be combined with elastane fibres to add stretch-fit properties to nylon, which are used to make fashion and casual clothing, swimwear, hosiery, and athletics.

Top Key companies in the global Caprolactam market include BASF SE, China Petroleum & Chemical Corporation, China Petrochemical Development Corporation, Honeywell International Inc., KuibyshevAzot OJSC, Royal DSM N.V., UBE Industries, SINOPEC among others.

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