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Caprolactam Market Growth till 2025 | Key Players are BASF SE, China Petroleum & Chemical Corporation, China Petrochemical Development Corporation
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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. Also, increasing number of women in the workforce, growing westernization, increasing disposable income and growing demand for convenience food across the globe, is expected to fuel demand for specialty films for packing. Nylon 6 is a key constituent in specialty films.
Asia Pacific, followed by Europe and North America accounted for major share in the global Caprolactam market both in terms of revenue and volume in 2016 and the trend is estimated to remain the same over the forecast period. In 2016, Asia Pacific held a share of 64.71% in terms of volume, followed by Europe (13.67%). The increasing sales for automobile in Asia Pacific due to growing population, increased urbanization and growing export of automobiles is expected to drive growth of the global caprolactam market over the forecast period.
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Major players 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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