Caprolactam Market Insights With Top Vendors BASF SE, China Petroleum & Chemical Corporation, China Petrochemical Development Corporation, Honeywell International Inc., KuibyshevAzot OJSC, Royal DSM N.V., UBE Industries, SINOPEC

Nylon 6 fiber and nylon 6 resin have wide applications in automotive and textile industry due to their high tensile strength and superior elasticity. Automakers are focusing on light weighting of vehicles in order to improve fuel efficiency and performance. Thus, metallic parts of automobile are being rapidly replaced by polyamide 6 and nylon 6 due to high temperature and chemical resistance. For instance, door handles, air bag containers, radiator grilles, relay boxes, air intake manifold and engine cover, among others are manufactured from polyamide 6 or nylon 6. 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. 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. The market is expected to gain traction in Asia Pacific due to burgeoning growth of various end-use industries in China and India. As per Coherent Market Insights, the nylon 6 fibers segment accounted for 52.94% revenue share in 2016.

Get a PDF Sample of Research Report @ https://www.coherentmarketinsights.com/insight/request-pdf/290

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.

Market Dynamics

Caprolactam are the primary raw materials required in the manufacture of engineering plastics. Growing textiles industry is expected to fuel the market for caprolactam in Asia Pacific. Favorable government policies and foreign investment in the region which includes, according to India Brand Equity Foundation (IBEF), is a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India. For instance, Raymond Group has signed a Memorandum of Understanding (MoU) with Maharashtra government for setting up a textile manufacturing plant with an investment of US$ 208.76 million in Maharashtra’s Amravati district of India. Moreover, The Clothing Manufacturer Association of India (CMAI), signed MOU with China Chamber of Commerce (CCCT), for import and export of textiles. Moreover, nylon 6 have wide applications in the manufacturing of fishing nets, sports equipment, tracking harness, ropes, among others. The demand for caprolactam in end-use industry is propelling due to rapid innovation and development of new product aided advantages, for instance on June 17, 2014, Honeywell International Inc., introduced a new Aegis nylon resin designed to protect electrical wirings and cables used in industrial and consumer products.

Detailed Segmentation:

Global Caprolactam Market, By Raw Material:
Cyclohexane/Benzene
Phenol and Toluene
Ammonia
Others

Global Caprolactam Market, By Product Type:
Nylon 6 Fibers
Textile
Carpet
Industrial Yarn
Others

Request Customization Of Research Report @ https://www.coherentmarketinsights.com/insight/request-customization/290

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.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.