Caprolactam Market to experience an impressive growth of 5.2% during 2020-2025
January 31, 2020
Caprolactam Market is likely to witness an impressive CAGR of 5.2% during the forecast period. The global market, along with its end-use in polyamide 6, portrayed a considerable growth in the previous few years and this development is expected to soar high in the upcoming years. Sturdiness, quality, lightweight properties, outstanding energy absorbing characteristics, an upsurge in the claim for durable polyamide 6, demand for recyclable caprolactam, and the forthcoming safety guidelines & pioneering techniques advanced for its usage will be the major governing factors for the global caprolactam market with major emphasis on its various types and applications.
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Caprolactam Market Segment Insights:
By Application Type
Based on the application type, the market is segmented as textile, industrial, carpet, automotive, film & coating, machinery, electrical & electronics, consumer goods, appliances, wire & cable, and others. The automotive application segment accounted for almost 29.6% share of the overall industry demand in 2019, whereas the consumer goods and appliance segments were the fastest-growing segments, owing to their high penetration in all regions. The growth of the segment is attributed to stringent government directives, rising emphasis on salubrious air and water, and the necessity to better the standard of processing and engineering of end-products.
By Region:
In terms of regions, presently, Asia-Pacific is the largest consumer of caprolactam and is estimated to lead the market during the forecast period. China and Japan are the growth engines of the region, and accounted for the largest share in the regional volumetric consumption in 2019. The market volume is relatively low in the RoW region, and is expected to register a low growth of 2.9% during the forecast period. North America and Europe are also expected to offer substantial growth opportunities in the coming five years.
Key Players:
Some of the major players in the caprolactam market are BASF SE, China Petrochemical Development Corporation (Cpdc), China Petroleum & Chemical Corporation (Sinopec Limited), Honeywell International Inc., Kuibyshevazot Ojsc, Lanxess Ag, Royal Dsm N.V., Sumitomo Chemical Company Limited, Shandong Haili Chemical Industry Co. Ltd., and UBE Industries.
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- Attractive market segments and associated growth opportunities
- Emerging trends
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- Key success factors
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