Caprolactam Market Size, Share, Price, Demand, Growth, Revenue Statistics and Forecast to 2020-25

According to the latest report by IMARC Group, titled “Caprolactam Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global caprolactam market reached a strong growth in 2019. Caprolactam is an organic compound that is clear to milky-white colored solution with a mild, unpleasant odor. It is manufactured using raw materials such as cyclohexane, ammonia, and phenol. Caprolactam is the precursor to Nylon-6, which is a widely used synthetic polymer employed in the manufacturing of casualwear and fashion apparel, swimwear, sportswear and hosiery. It is also utilized for manufacturing brush bristles, film coatings, synthetic leather, plastics, plasticizers, and lysine.

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The market is primarily driven by the significant growth in the automotive and textile industries. In automobiles, caprolactam is replacing heavy metal components for manufacturing airbags, doors, windows, tire cords and gears, owing to its resistance to chemicals, oils and abrasion. Apart from this, caprolactam is useful in the production of textile yarn, industrial yarn, engineering plastics, carpet fibers, and staple fibers. Besides this, several manufacturers are focusing on technological and product innovations by developing bio-based caprolactam with minimal traces of hazardous ammonium sulfate. Some of the other factors, such as rapid industrialization, growing focus on the recycling of caprolactam and ongoing research and development (R&D) activities to improve the cost-effectiveness of caprolactam, are further catalyzing the market growth. Looking forward, IMARC Group expects the market to exhibit a CAGR of around 4% during 2020-2025.

Market Breakup by Source:
• Cyclohexane
• Phenol
• Toluene
• Others

Breakup by End-Product:
• Nylon 6 Fibers
• Nylon 6 Resins
• Others

Breakup by Application:
• Industrial Yarns
• Engineering Resins and Films
• Textiles and Carpets
• Others

Competitive Landscape Key Player:
• Advansix Inc.
• Alpek S.A.B. de CV
• BASF SE
• Capro Corporation
• China Petrochemical Development

Corporation
• China Petroleum and Chemical Corporation (Sinopec)
• DOMO Caproleuna GmbH
• Gujarat State Fertilizers and Chemicals
• Koninklijke DSM N.V.
• Lanxess AG
• Sumitomo Chemical Co. Ltd.
• Toray Industries Inc.
• UBE Industries Ltd

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Source: steemit

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