Caprolactam Market – Overview
Caprolactam
are predominantly utilized in number of end use application such as textile
stiffeners, textile yarns, synthetic leather, plastics, film coatings,
plasticizers, and others. Caprolactam market is estimated to witness moderate
growth owing to their broad range of application usage specifically in textile
and automotive. Furthermore, caprolactam is used to produce nylon 6 which is
further utilized in automotive and construction sector. Moreover, rising per
capita disposable income along with increasing vehicle production and sales in
emerging economies is estimated to drive the market growth. In addition, growing
building & construction activities in developed and developing economies is
estimated to propel the growth of the market. Furthermore, increasing demand
for light weight automotive parts along with high adoption rate in end use
industries is expected to fuel the growth of the market over the forecast
period.
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Regional Analysis:
Geographically,
Asia Pacific emerged as the largest market for caprolactam in 2016, followed by
Europe and North America. The North American caprolactam market is estimated to
witness steady growth with a moderate CAGR over the forecast period owing to
robust growth of textile and sports industry combined with rising maintenance
activities in this region. In North America the market is further classified
into Canada and the U.S., among them the U.S. emerged as the leading market and
accounted for more than half of the total regional market share of caprolactam
due to strong adoption rate from textile industry. Asia Pacific is predicted to
witness tremendous growth over the assessment period, during 2017 to 2023. The
demand for caprolactam is expected to raise in numerous developing and
developed countries of Asia Pacific such as China, India, Japan, Singapore,
Australia, Taiwan, Malaysia, Thailand, and South Korea on account of increasing
population along with shifting of manufacturing unit for many key market
players in this region. In Europe, caprolactam market is foreseeable to
register above average growth due to shifting consumer preference towards the
caprolactam based sporting material combined with the strong presence of
automotive manufacturers specifically in Germany, Italy, U.K., Spain, Russia,
and France. In addition, numerous countries of Latin America and the Middle
East & Africa are estimated to witness average growth in caprolactam due to
rising per capita disposable income coupled with growing sales of passenger
cars specifically in Argentina, Brazil and Mexico rising construction
activities in Saudi Arabia, Kuwait, Qatar, and the UAE.
Competitive Analysis:
· China
Petroleum & Chemical Corporation
· BASF
SE
· Honeywell
International Inc
· Kuibyshevazot
Ojsc
· Lanxess
Ag
· Royal
DSM N.V.
· Shandong
Haili Chemical Industry Co. Ltd.
· Sumitomo
Chemical Company Limited
· UBE
Industries
·
China Petrochemical Development Corporation (CPDC)
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Industry/
Innovation/ Related News:
January 2018- Genomatica, a U.S. based
organization established an agreement with Aquafil, an Italian based
manufacturer to develop sustainable caprolactam genomatica. This company aims
to offer environmentally friendly way to produce intermediate with improved
economics.
April 2017- LANXESS announced to expand its
caprolactam production capacity at its Antwerp plant. The investment will cost
around USD 31 million. With this acquisition the company plans to strengthen
its integrated production complex for polyamide and precursor for plastics in
Antwerp.
October 2016- Fertilizer and Chemicals
Travancore Limited (FACT) announced to resume their caprolactam manufacturing
to enhance their financial prospects in the coming months. This production
plant has a capacity of 50,000 tonnes of the organic compound. This strategic
move will help the company to meet the increasing demand of caprolactam in Asia
Pacific region.
June 2016- Unipetrol, a Europe based
petrochemical organization announced to acquire Spolana, which produces
industrial fertilizers, PVC, caprolactam, and other inorganic compounds. This
acquisition will help company to optimize their manufacturing function and
strengthen its market position across the globe.
Competitive Landscape
The
caprolactam report has analysed the level of competition among the major
manufacturers as well as sector growth and market scenario. The global
caprolactam market comprised of a large number of suppliers operating in the
market which comprises large scale and medium scale manufacturers. The
prominent manufacturers of caprolactam as well as medium level producers which
has strong hold in the market have shifted their focus towards growth
association specifically by Asia Pacific as small level and medium level
suppliers belongs to this region specifically from Thailand, India, Singapore,
Australia, Taiwan, Malaysia China, South Korea, Bangladesh, Indonesia, and
Japan. On the other hand, the major manufacturers of caprolactam is following
various strategic plans to improve their product portfolio by set up research
and development centres across the various locations in world, strategic
acquisition and mergers, joint ventures, product launches, and exclusive
agreements. Some of the key players in this market are growing their production
capacity of caprolactam to meet the rising demand for caprolactam across the
globe.
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