The global caprolactam market was valued at more than $10 billion in 2015 and is expected to surpass $14 billion by 2020, says Technavio.
Technavio has announced its latest market research report on caprolactam for the forecast period, 2016-2020. This market analysis, under the olefins vertical, discusses the major drivers and key emerging trends that will influence the growth of the global caprolactam market during the forecast period. Some of the top vendors listed in this industry analysis include oneywell, BASF, DSM, UBE Industries, and Capro.
In terms of geographical analysis, APAC is expected to account for the largest share of the global market and is likely to reach almost $8 billion in revenues by 2020. China, Japan, and India are likely to emerge as the key revenue-generators.
“The global caprolactam market is witnessing a shift in preference towards bio-based nylon 6 polymers. This trend is spurred by the increased focus on emission reduction. Bio-based nylon 6 polymers can reduce emission levels by around 80%, and hence, more companies are likely to shift to the production of these polymers from the conventional nylon 6 polymers. Besides, the production of bio-based nylon 6 will not be dependent on fluctuating crude oil prices, thereby maintaining the prices of nylon 6 in the coming years,” says Ajay Adhikari, a lead analyst at Technavio for research on olefins.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Commercial importance of nylon
Nylon is used widely in the electronics industry owing to its non-conducting and heat resistance properties. Nylon can be drawn into fibers, which have higher strength and is extensively used in the textile industry. These fibers are used in the manufacture of fabrics with greater toughness and durability. Apart from apparel, nylon is also used in the manufacture of sports equipment, harness straps, ropes, and fishing nets. It is also used in the manufacture of cooking utensils and appliances such as forks, tongs, brushes, slotted spoons, and spatulas as it offers an excellent non-stick surface finish.
Growing economies: A boon
The global market for caprolactam is benefiting from factors such as the adoption of newer methods of packaging with improved barrier properties and the need for better packaging materials in the food and beverages industry and the personal care industry. India, China, and Brazil are projected to be the largest contributors to the global packaged food market. Vendors in the market are establishing production facilities in emerging countries due to low operational costs and the availability of skilled workforce and cheaper labor.
Rising demand from automobile sector
Manufacturers are investing heavily in the R&D for the development of alternative materials to conventional metal alloys, spurred by the implementation of stringent regulations regarding emissions and the need for increased fuel efficiency. Nylon not only allows the manufacturers to meet the imposed regulations, but also reduces the overall cost of the automobile. Parts that require rolling and sliding motion are being manufactured from nylon due to its wear-resistant properties. Nylon also has excellent heat resistance and offers greater flexibility and durability. The projected upsurge in automobile production during the forecast period is expected to propel the demand for nylon, leading to the growth of the global caprolactam market.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Caprolactam Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Polymer Based Solubility Enhancement Excipients Market for OSDF 2015-2019
- Global Polymer Nanocomposites Market 2015-2019
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