Stratview Research releases a new insightful report on the Caprolactam Market, that makes efforts at providing deep insights into numerous factors that are vital to the growth of this industry.
The information presented in this report will outline the present and upcoming trends in the market, analyst opinions and views, competitive landscapes, and key regions from a systematic perspective. This report on the Caprolactam Market provides an analysis of the key trends in business and forecasts the future directions of the market. The procedure and analysis used in this report assesses the strengths and weaknesses of market participants, key market drivers, and challenges. It identifies significant market players, provides split analyses, and forecasts, among other insights.
According to the present report, the Caprolactam market is likely to witness an impressive CAGR of 5.2% during the forecast period.
What are Caprolactam?
Caprolactam is an organic compound, which is used as an intermediate in nylon manufacture. It is a colorless solid and comes from the lactam of caproic acid. It is mildly toxic is nature and is used with fibers for various items.
Caprolactam is used in different applications such as automotive, film & coating, electrical & electronics, consumer goods, appliances, wire & cable, textile, carpet, machinery, and many other industrial items.
The global market, along with its end-use in polyamide 6, portrayed a considerable growth in the previous few years and this development is expected to soar high in the upcoming years. Sturdiness, quality, lightweight properties, outstanding energy absorbing characteristics, an upsurge in the claim for durable polyamide 6, demand for recyclable caprolactam, and the forthcoming safety guidelines & pioneering techniques advanced for its usage will be the major governing factors for the global caprolactam market with major emphasis on its various types and applications.
Key players mentioned in the report are -
Some of the major players mentioned in the report are listed below-
- BASF SE
- China Petrochemical Development Corporation (Cpdc)
- China Petroleum & Chemical Corporation (Sinopec Limited)
- Honeywell International Inc.
- Kuibyshevazot Ojsc
- Lanxess Ag
- Royal Dsm N.V.
- Sumitomo Chemical Company Limited
- Shandong Haili Chemical Industry Co. Ltd.
- UBE Industries
Market Segments' Analysis
Based on the application type, the market is segmented as textile, industrial, carpet, automotive, film & coating, machinery, electrical & electronics, consumer goods, appliances, wire & cable, and others. The automotive application segment accounted for almost 29.6% share of the overall industry demand in 2019, whereas the consumer goods and appliance segments were the fastest-growing segments, owing to their high penetration in all regions. The growth of the segment is attributed to stringent government directives, rising emphasis on salubrious air and water, and the necessity to better the standard of processing and engineering of end-products.
In terms of regions, presently, Asia-Pacific is the largest consumer of caprolactam and is estimated to lead the market during the forecast period. China and Japan are the growth engines of the region, and accounted for the largest share in the regional volumetric consumption in 2019. The market volume is relatively low in the RoW region, and is expected to register a low growth of 2.9% during the forecast period. North America and Europe are also expected to offer substantial growth opportunities in the coming five years.
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