Caprolactam Market Overview to 2022:
Commenting on this
report, an analyst from Market Research Future (MRFR)’s team said, “Global
caprolactam market size is estimated at USD 14.9 billion in 2019. The market is
expected growth over the forecast period owing to its various use as a feedstock
in the production of nylon 6 fibers and resins. Properties such as high
strength, elasticity, abrasion resistance, chemical & oil resistance, along
with low moisture absorbency of nylon fibers and resins are expected to result
in high requirement of the product. Growing textile industry coupled with
upcoming automobile sector is expected to fuel demand over the next seven
years. In-addition, rising consumption of plastics for automotive, electrical
& electronics and construction applications is expected to be a key driver
for the industry over the forecasted period. However, fluctuating price of raw
material is expected to hinder the market growth.
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Various companies are
investing in R&D in order to improve technological advancement for
cost-effective manufacturing have been key factors responsible for augmenting
growth over the past few years. Additionally, recent invention on Bio-based
caprolactam will aid the market in growing at faster pace. Regulatory approval
from the U.S., EU and EPA for using the product in manufacturing nylon 6
fibers, resins is expected to fuel demand. Rising disposable income coupled
with increasing penetration of players due to new product launches in China and
India is expected to aid in the growth of textile industry. Robust
manufacturing base of textile industry coupled with growing demand in Germany,
Italy, France and UK is expected to drive caprolactam industry growth over the
forecast period.
End-use Insights
Textile yarn was the
second largest market in 2016, accounting for over XX% of volume share in 2016
growing demand for textile yarn for manufacturing apparels, sportswear, fashion
wear and swimwear is expected to have a positive impact on the industry over
the forecast period.
Industrial yarn was the
second largest end-use valued over USD 2.08 billion in 2016. Besides increasing
consumption of industrial yarn for manufacturing cordage, slings, mechanical
rubber goods and geotextiles is expected to result in increasing requirement of
the chemical over forecasted period.
Plastics demand exceeded
950.0 kilo tons in 2015. Growth of the automotive industry, particularly in
developing economies of China, Brazil and India due to rising disposable income
of consumers will accelerate its demand. Development of fabrics industry is
expected to result in high consumption over the next seven years.
Regional Insights
Asia Pacific caprolactam
market accounted for over 55.0% of global revenue share in 2016. Rapid
industrialization leading to establishment of numerous automotive and appliance
manufacturing plants, particularly in India and China, is expected to have a
positive impact on industry growth over the next seven years.
Europe was the second
largest market, valued at over USD 3.10 billion in 2016. Increasing R&D for
the production of bio-based products in the region is expected to have a
favorable impact on growth over the forecast period.
The
study was conducted using an objective combination of primary and secondary
information including inputs from key participants in the industry. The report
contains a comprehensive market and vendor landscape in addition to a SWOT analysis
of key vendors.
The
market is classified and analyzed on the basis of various geographic
segmentation which includes; Americas, Europe, Asia-Pacific, Middle East and
Africa. Out of these, APAC accounts for the largest share owing to
technological advancement in manufacturing industries particularly in country
like China and Japan. China is the leading producer in the emulsion polymers
market due to its growing population, development in infrastructure and
increase in consumer spending. Paints & coatings market is growing rapidly
in China due to increase in government expenditure in infrastructure and the
blooming automotive industry. North America and Europe are expanding their
business in the emulsion polymers market. Europe showed a steady flow due to
restrains from government in using chemicals on a large scale. Countries like
Indonesia, Thailand and Brazil are the growing market for emulsion polymers due
to favorable government regulations and tax subsidies here.
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